CBRE|Raleigh is pleased to announce the sale of 2610 Wycliff Road in Raleigh, NC to Alvarez & Marsal Property Investments, LLC. The CBRE|Raleigh team of Ben Kilgore, Chandler Hawkins and Leslie Holmes exclusively represented the seller, Albany Road Real Estate Partners based in Boston, MA.
2610 Wycliff is a 174,014 square foot Class A building in the desirable West Raleigh submarket. The building offers numerous on-site and close access amenities. Located adjacent to the Lake Boone Trail and I-440 intersection, 2610 Wycliff is minutes from Lake Boone Shopping Center and Crabtree Valley Mall. In addition, it has an on-site café, common area conference facilities and a recently renovated fitness facility.
“The CBRE|Raleigh investment and leasing teams have been privileged to have represented Albany Road in the sale of 2610 Wycliff Road in Raleigh,” said Ben Kilgore, executive vice president of investment properties. “The sale of 2610 Wycliff Road attracted a wide range of regional, U.S. and foreign capital sources, signifying the continued attraction that investment capital has to the Triangle and Raleigh in particular. The combination of a high-quality sponsorship, credit tenancy, an irreplaceably located asset and a high-quality buyer entity, led to a successful transaction for all involved.”
Albany Road Real Estate Partners purchased the property in November 2015. Since then, the CBRE|Raleigh Investor Leasing team of Ed Pulliam and John Brewer have brought the building to 92.5 percent occupancy. Major tenants include General Dynamics, Dewberry Engineering and HPE.
About CBRE|Raleigh
CBRE|Raleigh is a CBRE office serving the Triangle region and is a joint venture between local principals and CBRE Group, Inc. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2017, the Raleigh office completed $2.2 billion of sales and leasing transactions. Please visit our website at www.cbre.us/raleigh.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.
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