Raleigh, NC- Cassidy Turley announced today that it arranged the sale of the 309,000 square foot Implus Building located in Durham, North Carolina. Chris Norvell, Rob Cochran and David Finger of Cassidy Turley represented the seller, The Keith Corporation, in the sale of the facility to GRC Durham, LLC, of New York for $21,000,000.
The Implus building is the newest state-of-the art distribution facility in Raleigh-Durham and is fully leased on a triple net basis. Located at 2001 T.W. Alexander Drive, the facility is situated within the Research Triangle/Interstate 40 submarket, which is the largest industrial submarket in the region and home to over 75% of the area’s institutional grade industrial real estate.
“We continue to see a very strong appetite for industrial product in the RTP/I-40 submarket. Investors are starting to realize just how irreplaceable assets such as the Implus Building are within this area,” stated Chris Norvell.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 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 http://www.cassidyturley.com/ for more information about Cassidy Turley.