Jones Lang LaSalle Inc.

09/16/2021 | Press release | Distributed by Public on 09/16/2021 16:30

Triangle-area flex/R&D asset trades for $21.3M

CHARLOTTE - September 16, 2021 -JLL Capital Markets announced today that it has closed the $21.3 million sale of 1100 Perimeter's Edge, a 84,748-square-foot, flex/R&D facility in the Raleigh Durham area of North Carolina.

JLL marketed the property on behalf of the seller, Singerman Real Estate, and procured the buyer, Nuveen.

Originally built in 1990, 1100 Perimeter's Edge is a single-story flex facility positioned on a 9.45-acre site. The property features flexible floorplates, four 8' x 8' loading docks and one 12' x 12' drive-in loading dock. 1100 Perimeter's Edge is currently 97% leased to a mix of life science and STEM firms.

Located at 1100 Perimeter Park Dr., the property is part of Perimeter Park, Raleigh-Durham's premier business park with more than three million square feet of mixed-use space. The property is also adjacent to Research Triangle Park, the largest dedicated scientific research park in the country.

Raleigh-Durham is one of the top five life science clusters in the nation and is benefitting from robust corporate relocations and in-migration to the region as companies and employees seek low cost of living, high quality of life and business friendly locales. As such, the available supply of flex/R&D space is diminishing as many properties have been converted to dedicated life science space.

The JLL Capital Markets team representing the seller was led by Director John Mikels, Director Daniel Flynn, Senior Director Chris Lingerfelt, Senior Managing Director Ryan Clutter and Analyst Woody Flythe.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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