Liberty Property Trust makes $26 million deal
Liberty Property Trust has sold a major office project to Crown West Realty for $26.55 million, according to a press release.
The development - CentrePort Office Portfolio - is a bundle of four buildings comprising 266,268 square feet of office space at the intersection of Interstate 40 and N.C. 68.
According to the press release (from CB Richard Ellis, which represented Liberty in the deal), the office portfolio includes:
* CentrePort I: A 47,208 square foot Class A office building built in 1986.
* CentrePort II: A 62,720 square foot Class A office building built in 1990.
* CentrePort III: An 81,681 square foot Class A office building built in 1998.
* One Triad Center: A 71,759 square foot Class A office building built in 1986.
CB Richard Ellis reports that the office portfolio historically has seen occupancy rates above 90 percent and was 72 percent leased at the time of sale. Tenants in the buildings include Ernst & Young, PriceWaterhouseCoopers, MARC, Time Warner and CB Richard Ellis.
Crown West has chosen CB Richard Ellis to lease and manage CentrePort.
Due to recent automated spamming attacks on our blogs, we are temporarily requiring commenters to authenticate themselves via TypeKey® before posting comments to any News & Record blog in order to prevent denials of service. We sincerely apologize for the inconvenience.