Duke University-Leased Building in Durham Changes Hands
CBRE facilitated the sale of 4220 N. Roxboro St., a roughly 25,000-square-foot medical office building, just minutes from the Duke University Medical center.
By Laura Calugar
CPI Medical Fund One has purchased a 25,408-square-foot medical office building located at 4220 N. Roxboro St. in Durham, N.C. CBRE|Raleigh Capital Markets Group Executive Vice President Ben Kilgore assisted seller Matan Cos. in the deal. The property includes an expansion area that is fit for up to 17,000 additional square feet.
Located less than 1 mile from Duke University Durham Regional Hospital and providing easy access to Interstate 85, the facility has been fully leased to Duke University Health System for more than 25 years. The current lease expires in December 2028. The building contains both an outpatient clinic and internal medicine facility, as well as an on-site laboratory, nurse education and social worker evaluation facilities. The asset serves as Duke’s only outpatient clinic in their network, besides Duke Health’s main campus location.
In another deal last year, Kilgore and four other CBRE Raleigh team members facilitated the sale of WestChase Office Park, a Class A, three-building campus in Raleigh, N.C.
Image courtesy of CBRE