Washington, DC – Capital Associates, a North Carolina based full-service commercial real estate company, and Cassidy Turley announced today the sale of Keystone Technology Park, an 806,157 square foot, 11-building portfolio in Durham, NC. Stephen Porterfield, on behalf of Capital Associates and its partners, engaged Cassidy Turley to arrange the transaction. Paul Collins, Bill Collins, Drew Flood, Jud Ryan, James Cassidy, David Finger and Hillman Duncan of Cassidy Turley represented the seller. The portfolio was acquired by Lionstone Cash Flow Real Estate Partners One, a $250 million equity venture between the Lionstone Group and the Teacher Retirement System of Texas.
Keystone Technology Park is located just west of the I-40/540 intersection, fronting Davis Drive and adjacent to the Research Triangle Park campus. The portfolio, which is currently 93 percent leased, includes 28 tenants in the biotech, financial and telecommunications industries.
About Capital Associates
Capital Associates is a full-service commercial real estate company, providing development, leasing and sales, property management, and consulting services for its own accounts, as well as third parties. Capital is headquartered in Cary, North Carolina, with offices in Northern Virginia and Greensboro, North Carolina. Capital Associates is one of the most experienced, quality oriented and competitive developers in the markets it functions.
About The Lionstone Group
Lionstone was formed in 2001 by partners Tom Bacon, Dan Dubrowski, and Glenn Lowenstein. The firm serves the interests of real estate capital by performing extensive market research to find unique value for investors and by carefully managing investment risks.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,200 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.