CBRE|Raleigh Announces Sale of Falls Valley Drive Medical Office Building
- Jan 28, 2016
By Adriana Pop, Associate Editor
Raleigh, N.C.–CBRE|Raleigh has facilitated the sale of a medical office building located at 1921 Falls Valley Drive in Raleigh.
A division of Capital Square Holdings based out of Glen Allen, Va., purchased the property for $5.29 million. Vice President Jim McMillan with CBRE|Raleigh led the sale on behalf of the seller.
The 15,090-square-foot medical office building sits on 1.6 acres. The owner-occupied building was constructed in 2004 and this sale-leaseback transaction ensures the seller and current tenant’s long-term tenancy in this central market location.
Capital Square Holdings is an investment and management company that provides a range of services including acquisition, due diligence, loan sourcing, property management and asset management. The company oversees a growing national portfolio of 38 real estate assets valued at approximately $360 million, based on investment cost.
CBRE|Raleigh is a joint venture between local principals and CBRE Group. The firm, which serves the Triangle region, completed $1.4 billion of sales and leasing transactions in 2014.
CBRE is in fact the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, Va., and Raleigh and Greensboro, N.C. These offices, which are collectively referred to as the CBRE Mid-South region, completed a total of $2.8 billion of sales and leasing transactions in 2014.
Image courtesy of CBRE|Raleigh