HFF announces the $14.25 million sale of Yorkshire Place, a 80,728-square-foot, Class A office building within the Research Triangle Park/Interstate 40 (RTP/I-40) submarket in Durham, North Carolina.
The HFF team marketed the property on behalf of the seller, Principal Real Estate Investors, and procured the buyer.
Yorkshire Place is located at 4307 Emperor Boulevard within Imperial Center, which is widely considered one of Raleigh-Durham’s premier business parks featuring more than four million square feet of mixed-use space. Positioned at the interchange of Interstates 40 and 540, the three-story property has easy access to Research Triangle Park, RDU International Airport and the area’s primary residential nodes in Cary, West Raleigh and North Raleigh. Yorkshire Place is fully leased to a mix of technology, healthcare, non-profit and hospitality tenants, including Genesys Telecommunications, LabCorp and Triangle Council of Governments. Additionally, the property has access to an abundance of amenities within Imperial Center such as various dining options, multiple retail destinations, four hotels, a full-service gym and jogging trails.
The HFF investment advisory team representing the seller consisted of senior director Scot Humphrey, senior managing director Ryan Clutter and director Chris Lingerfelt.
“Investors are increasingly gravitating towards well-located office properties such as Yorkshire Place that are anchored by tenants in Raleigh-Durham’s growing technology and life sciences industries,” commented Humphrey. “We anticipate the capital markets will continue to have a healthy appetite for these opportunities in the year ahead, as the Research Triangle’s fundamentals continue to outperform relative to other parts of the country.”
Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $75.9 billion in commercial real estate assets*. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
*As of 31 December 2017
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
