RALEIGH, NC—The rumors turned out to be true. Duke Realty decided to dispose of one of its Raleigh office assets—and KBS Realty Advisors was right there to snap it up.
Duke sold Captrust Tower to KBS for an undisclosed amount. But the Triangle Business Journal estimated the office asset was worth nearly $50 million.
“Captrust Tower is the best project in Raleigh and has leased faster and at higher rents than any other office project,” says Charles Schreiber, CEO of KBS. “We've been focused on Raleigh and specifically Captrust Tower due to the quality master-plan and the maturity of the mix of uses already in-place and planned.”
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