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PRG Real Estate Acquires 216-unit Apartment Community in Durham

PRG Real Estate Acquires 216-unit Apartment Community in Durham

PRG Real Estate has announced the acquisition of Bainbridge in the Park Apartments, a 216-unit garden-style apartment community located on a 25-acre wooded setting in Durham. The community was built in 1985 and is situated within 2.5 miles from the world-renowned Research Triangle Park. Amenities include a 24/7 newly renovated…

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Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh

Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh

by Adriana Pop, Associate Editor Cary-based Capital Associates is expected to break ground on The Greens at Centennial Campus, a 292-unit rental project in Southwest Raleigh to house campus employees. According to the NewsObserver, the $30 million complex would include three apartment buildings spread over 10 acres. At the moment, the only…

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Sentinel to Build Durham’s First Mega-Scale, Multi-Tenant Data Center

Sentinel to Build Durham’s First Mega-Scale, Multi-Tenant Data Center

by Adriana Pop, Associate Editor Sentinel Data Centers of Massachusetts has announced it would build a 420,000-square-foot facility in Durham, the region’s first purpose-built multi-tenant data center for large-footprint users. The initial phase of the Sentinel NC-1 facility will deliver 120,000 square feet by early 2013. “We welcome Sentinel Data…

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Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M

Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M

by Adriana Pop, Associate Editor American Real Estate Partners of Herndon, Va. recently sold three class A office buildings at Keystone Park in Durham for $48.4 million. According to CityBizList Charlotte Raleigh, an affiliate of Investcorp of New York purchased the 285,874-square-foot portfolio at 430 Davis Drive, 530 Davis Drive…

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Compass Buys $2.1M Site in Durham to Develop Data Center

Compass Buys $2.1M Site in Durham to Develop Data Center

by Adriana Pop, Associate Editor Compass Datacenters of Texas has completed the acquisition of a 16.5-acre site in Research Triangle Park, where it plans to build one of its first data center complexes in the U.S. According to the Triangle Business Journal, a subsidiary of the Dallas-based company has purchased…

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Sheetz to Develop $32.8M Distribution and Manufacturing Center in Burlington

Sheetz to Develop $32.8M Distribution and Manufacturing Center in Burlington

by Adriana Pop, Associate Editor Sheetz Inc. plans to establish a $32.8 million regional distribution and food manufacturing center in Burlington and create up to 254 jobs over the next six years. The Pennsylvania-based gas station and convenience store chain recently announced its decision through Gov. Bev Perdue’s office. The…

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Health Care REIT to Acquire Sunrise Senior Living for $845M

Health Care REIT to Acquire Sunrise Senior Living for $845M

by Adriana Pop, Associate Editor Health Care REIT, Inc. has entered into a definitive agreement to acquire all of the outstanding common stock of Sunrise Senior Living, Inc., in an all cash transaction of approximately $845 million. The acquisition positions Health Care REIT among the largest owners of seniors housing…

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Qualcomm to Expand Operations at Brier Creek

Qualcomm to Expand Operations at Brier Creek

By Adriana Pop, Associate Editor San Diego-based Qualcomm is expanding its operations at Brier Creek Corporate Center in west Raleigh with the lease of 40,672 square feet of office space. John Daly and Jason High of CBRE-Raleigh represented the company in the negotiations. The Triangle Business Journal reports that Qualcomm…

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Dept. of Health Seeks 1M SF For-Rent Space in an Office Park

Dept. of Health Seeks 1M SF For-Rent Space in an Office Park

by Adriana Pop, Associate Editor The state Department of Health & Human Services (DHHS) plans to consolidate its 60 offices in Wake County into a 1 million-square-foot office campus in the Triangle region. According to the Triangle Business Journal, 10 real estate developer groups have responded to the request for proposals issued…

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Citrix Plans to Place Raleigh Headquarters in Warehouse District

Citrix Plans to Place Raleigh Headquarters in Warehouse District

by Adriana Pop, Associate Editor Citrix Systems Inc. has made the decision to locate its new downtown Raleigh headquarters in the old Dillon Supply steel warehouse at the corner of West and Hargett streets. The NewsObserver reports that the company plans to move into its new offices by November 2013, becoming the…

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City Council Green Lights Restarted Crabtree Village Master Plan Project

City Council Green Lights Restarted Crabtree Village Master Plan Project

by Adriana Pop, Associate Editor The City Council of Raleigh unanimously approved a master plan for a proposed mixed-use project located on a 24-acre portion of the Kidd’s Hill property behind Crabtree Valley Mall. Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart the stalled Crabtree…

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United Therapeutics Buys 3 Buildings in Research Triangle Park for $17.5M

United Therapeutics Buys 3 Buildings in Research Triangle Park for $17.5M

by Adriana Pop, Associate Editor United Therapeutics Corp. has paid GlaxoSmithKline $17.5 million for the purchase of three buildings in the Research Triangle Park. The property sits on 135 acres of land adjacent to United Therapeutics’ 55-acre manufacturing facility and encompasses approximately 720,000 square feet of office and laboratory research…

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