Raleigh real estate firm buys $25M building at full occupancy
// TRIANGLE BUSINESS JOURNAL
A commercial real estate firm in Raleigh has made an investment in a fully-leased flex building on the edge of Research Triangle Park.
Edgewater Ventures paid $25 million for 601 Keystone Park Drive inMorrisville, according to Durham County deed records. The acquisition was ajoint venture with Optimum Asset Management, which has offices in Bostonand Europe.
For Scot Humphrey, co-founder and managing principal of Edgewater, thetransaction was like coming full circle as he brokered several transactions ofthe Keystone buildings when he was a broker with HFF.
“I'm very familiar with the park and I've always loved these buildings. They'revery functional, whether it's life science or electronic lab or data center or officespace, they lend themselves to a variety of uses, and they're set up well for that.So when this came to market, we jumped all over it,” Humphrey said.
SPREAD THE NEWS
