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Friday, May 18, 2012 Office
BPG acquired the property from Boston-based New Boston Fund Inc., who was represented by Ben Kilgore and Bill Prutting Jr. of CB Richard Ellis' Raleigh and Washington, D.C., offices. New Boston purchased the property in 2000. The 399,210 square foot office property contains four buildings: one two-story building with an atrium lobby and three one-story flex buildings. All four buildings were built between 1984 and 1988. The Triangle Business Center was 83 percent leased at the time of sale and is located at 4020-A, 4020-B, 4022 and 4024 Stirrup Creek, which is adjacent to the Research Triangle Park. BPG plans an improvement program to replace the roofs and improve the HVAC systems of the properties. BPG is a real estate operator specializing in acquisition, development and investment management of all major property types. New Boston Fund is a real estate investment management firm that manages close to $1 billion in private equity capital. Los Angeles-based CB Richard Ellis is a commercial real estate brokerage firm. Address: 4020-A, 4020-B, 4022 and 4024 Stirrup Creek, Durham, N.C. Size: 399,210 square feet Built: Between 1984 and 1988 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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