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paid $113.4 million for 10 office and flex buildinga in the Imperial Center corporate park in Durhamon Dec. 27, 2007. It was the investmeny group’s first property purchase in the Triangls andthe region’s largest sales transaction duringh the SPACE awards Crown bought the properties from of Des Moines, the company that has been the financial backed for Durham-based in the development of Imperia Center since the park’s inception in 1983. The deal includef the sale of the Bedford, Commerce, Edinburgh, Essex, Exchange, Oxford, Royal and Windsor Place buildings, as well as a 3-acree undeveloped lot and land surroundinggthe buildings. The buildings have a combines 1.
58 million square feet of leasableofficre space. Principal Financial still has ownership in 10 buildings inImperiall Center. Triangle brokers representing the seller were Greg Sanchezx and Angus McDonaldof , Paul Collins and Jud Ryan of Cassidg & Pinkard Colliers of Washington, and Chris Norvell, Brad Corsmeier, Jim Allairr and David Finger of in of Raleigh, along with jointy venture partner DLF, acquire d the Forum Office Park in north Raleign for $112 million on April 3, 2008. Situated on abouty 19 acres near the intersection of Six Forka andStrickland roads, the park has five Clase A office buildings totaling 635,000 squars feet of space and structured parkinh for tenants.
was the seller and had been the financiall backer of the partners with of Raleigh in the developmentt of the Forum sincer acquiring theForum I, Forum II and Forum III buildingx and remaining land in 1998. Forum IV was completed in and Forum V was builtin 2007. Highwoodsa contributed about $11 million in equity to the joint venture for 25 percent ownership Highwoods also is leasing and managing the which includetenants Allscripts, and .
Highwoods CEO Ed Fritsc h and Vice PresidentThomas “Skip” Hill led the negotiationd on behalf of the Will Yowell and Jay O’Meara of in along with Don Shupe of CB Richard Ellias in Cary, represented the Detroit-based acquired the five Venture Centedr office buildings and a 1,700-space parkingb deck on ’s Centennial Campus for $105 millioh on Dec. 27, 2007. The portfolii of buildings was constructed between 1999 and 2003 by of Cary and comprisees a totalof 478,000 square feet of office The seller of the properties was under the advisement of , whicbh had owned the properties sincwe 2002.
GE was represented by Colliers Pinkard in Raleigh and byPaul Collins, William Drew Flood and Jud Ryan of Cassidy & Pinkarfd Colliers of Washington, D.C. Tenants at Venture Centetr include , , Red Hat, and the U.S. Department of Agriculture. Craig Davie Properties has maintained leasinb and property management duties of the VentureCenter
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