Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1999
Building Area

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive

sale representative for SouthCourt (the “Property”), an 133,368 square foot

property in Raleigh-Durham, one of the most coveted real estate markets

in the country and a leading STEM hub. The property is currently 75.4%

leased to an attractive mix of tenants with remaining WALT of 3.6 years and

in-place rents approximately 9.5% below market, presenting an attractive

value-add offering with both leasing and mark-to-market upside.

This asset features high quality, Class A construction in a rapidly expanding

submarket. With proximity to downtown Durham, SouthCourt provides

potential investors with an opportunity to purchase an asset just minutes

away from the city center at an attractive basis. Robust multifamily and

retail development within walking distance, including the University Hill

mixed-use development which features 270 multifamily units and 65,000

SF of retail, have fostered an increasingly infill live-work-play environment

in the immediate area, driving leasing velocity and long-term tailwinds at

the Property. SouthCourt benefits from unparalleled access to the Hope

Valley executive residential neighborhood, Duke University, Downtown

Durham and Research Triangle Park, and appeals to a diverse tenant and

employee base across the region.

Investment Highlights

Raleigh-Durham is poised to rapidly recover from the impact of COVID-19,

and stands to benefit from robust corporate relocations and in-migration

to the region as companies and employees seek low cost of living, high

quality of life, business friendly locales. These trends, which have been

in-place for several years, were catalyzed by the impacts of COVID-19, as

evidenced by recent announcements by Apple, Google, Gilead Sciences,

Fujifilm Diosynth, and Invitae, each of which announced plans over the past

2 months to establish a sizable workforce in Raleigh-Durham.

Last Updated Date: 30 Sep 2021
Ryan Clutter
Ryan Clutter
Senior Managing Director, Office Group Co-Leader
License details
MD-645969 NC-172952 SC-6364
Christopher Lingerfelt
Christopher Lingerfelt
Senior Director, Capital Markets
License details
NC-286599

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Last Updated Date: 30 Sep 2021

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