Two Office Towers Trade in Raleigh

RALEIGH, N.C.-In a sign that investors are looking beyond gateway cities for office investments, two towers in the Durham have traded. 4820 Emperor Boulevard and Nottingham Hall set the stage for a potentially busy Triangle commercial real estate market in 2011.

“Institutional capital isn’t considering only top tier cities like D.C. and New York anymore,” Paul Collins, executive managing director at Cassidy Turley, tells GlobeSt.com. “These two trades signal that people feel better about the economy, so they are looking at other cities to find yield and they feel like this is a pretty safe area. There is demonstrable employment growth and it’s a good time to get into these cities before all the other institutional capital jumps in.”