Alexander Commerce Park in Raleigh-Durham sold

CHARLOTTE, Sept. 24, 2024 -  JLL Capital Markets announced today the sale of Alexander Commerce Park - a three-building, 441,072 square foot trophy-quality logistics portfolio in the Raleigh-Durham MSA.

JLL represented the seller, a joint partnership between Trinity Capital Advisors and Nuveen Real Estate, in the high-profile transaction. The assets were acquired by Prologis.

The Class A portfolio is currently 100% leased to four diverse tenants, including major regional and international users. Delivered in 2023, the portfolio features best-in-class rear-load logistics facilities with 32-foot clear heights, ESFR sprinklers, LED lighting and abundant auto and trailer parking.

"This is a strategic acquisition that complements our existing Raleigh-Durham market portfolio," said Grant Benson, VP Investment Officer at Prologis. "We remain focused on providing high quality, modern logistic facilities to support our customers operating in this market."

Located at 1730-1760 TW Alexander Drive in Durham, North Carolina, Alexander Commerce Park is positioned along the northeastern edge of the 7,000-acre public-private Research Triangle Park, one of the country's most successful dedicated research parks that retains a multitude of Fortune 500 firms and has an industrial submarket occupancy of greater than 99%.

The JLL Investment Sales and Advisory team was led by Senior Managing Director Pete Pittroff, Senior Director Dave Andrews and Associate Zachary Lloyd.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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