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MI Buyer Takes 475,000-SF Office Portfolio

RALEIGH, NC-MayfieldGentry Realty Advisors adds to its North Carolina holdings with the acquisition of Venture Center.

By Natalie Keith | Updated on January 07, 2008

RALEIGH, NC-Detroit-based MayfieldGentry Realty Advisors has acquired Venture Center, a 475,000-sf class A office building portfolio on the 1,130-acre Centennial Campus of North Carolina State University.

Terms of the purchase were not released. The seller was General Electric Pension Fund Trust advised by GE Asset Management. The seller was represented by Paul Collins, William Collins, Drew Flood and Jud Ryan, of Cassidy & Pinkard Colliers.

The portfolio consists of five buildings constructed between 1999 and 2003, and located 14 miles from the Raleigh-Durham airport within North Carolina’s Research Triangle area between the cities of Raleigh, Durham and Chapel Hill. The portfolio is 99% leased with tenants including Ericsson, GlaxoSmithKline, Erimos Pharmaceuticals, the State of North Carolina, Red Hat, ABB Inc. and the US Department of Agriculture.

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