The Archon Group, a real estate investment arm of Goldman Sachs, has purchased a portfolio of six office properties in the Triangle for $43.95 million from Duke Realty. According to a Triangle Business Journal article Duke listed the portfolio, which includes 427,000 square feet of office space, in August of 2011. “These were still good assets, but ... we're happy about the buyer, and we know they'll take good care of the tenants,” said Jeff Sheehan, senior vice president in charge of Duke Realty's Raleigh operations.
The portfolio, buildings all built between 1986 and 2000, was 83% leased in August when it was first put on the market. The properties include 5540 Centerview Drive, 5565 Centerview Drive, 5520 Capital Center Drive, 801 Jones Franklin Road, 1616 Millbrook Road and one property in Cary located at 6501 Weston Parkway. The sale is reportedly part of the real estate investment trust's strategy of increasing its industrial and medical office portfolio while reducing the number of office assets it owns.
For more news and information visit Blumberg Capital Partners.
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