1/9/2008

Cassidy & Pinkard negotiate sale of N.C. State office portfolio

by Michael Wayne

Venture Center Office Portfolio

Venture Center I

Detroit, Mich.-based Mayfield Gentry has purchased the Venture Center Office Portfolio on the campus of North Carolina State University in Raleigh, N.C., from an affiliate of General Electric Pension Trust.

Paul Collins, Bill Collins, Drew Flood and Jud Ryan of Cassidy & Pinkard Colliers represented the seller in the transaction.

The five-building portfolio contains 474,318 square feet and is currently 98 percent leased with tenants including GlaxoSmithKline, Erimos Pharmaceuticals, Ericsson and the U.S. Department of Agriculture. Built between 1999 and 2004, the buildings are located within Centennial Campus, a 1,120-acre master-planned academic village.

Address: 2200 Hillsborough St., Raleigh, N.C.

Size: 474,318 square feet

Built: 1999-2004

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Filed Under: Office

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