Edgewater Ventures acquires 32,000 SF building in Downtown Raleigh
January 22, 2021
// WRAL Tech Wire
RALEIGH –
CBRE|Raleigh is pleased to announce the sale 111 West Hargett Street in Raleigh to Edgewater Ventures. CBRE|Raleigh’s Jimmy Poole and Ben Kilgore represented the seller, WhiteStar Advisors, in the transaction.
111 W Hargett Street [known as the Martin Building] is an approximately 32,000 square foot creative office building in downtown Raleigh. Built in 1951 and renovated in 2018, the building is currently vacant and in move-in ready condition with a rooftop patio. The site is considered a walker’s paradise located in heart of Downtown Raleigh with a walkscore of 96, surrounded by numerous restaurants and a block from Nash Square.
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Forty540 II is a 200,000 SF next generation office building located in North Carolina’s Research Triangle. Built in 2021 and among the newest office deliveries in the market, the institutional-quality asset is thoughtfully designed and curated.
Edgewater Ventures paid $25 million for 601 Keystone Park Drive in Morrisville, according to Durham County deed records. The acquisition was a joint venture with Optimum Asset Management, which has offices in Boston and Europe.
The first phase of Wilmington Trade Center, a master planned industrial park on U.S. 421, recently wrapped up, while work on the next phase is now underway.
