The Dilweg Companies Buys 12 Triangle Office Buildings from Beacon Partners for $89.5M

by Adriana Pop, Associate Editor

In its largest acquisition to date, The Dilweg Companies has purchased a portfolio of 12 office buildings in the Triangle area.

According to the Triangle Business Journal, Beacon Partners of Charlotte sold the properties for a total of $89.5 million. The company was represented by Ryan Clutter, formerly with CBRE, along with Ben Kilgore of CBRE Raleigh and Patrick Gildea of CBRE Charlotte.

The buildings are located in Raleigh, Durham, Morrisville and Cary and include:

• Park Forty Plaza at 1000 Park Forty Plaza Dr. in Durham; the property was built in 1986 and offers 122,311 square feet of space;
• RDU Center II at 2121 RDU Center Dr. near Raleigh-Durham International Airport; the property was built in in 2000 and offers 61,485 square feet of space;
• RDU Center III at 11635 Capital Boulevard in Raleigh; the property was built in 2009 and offers 114,518 square feet of space;
• NorthPark I at 11635 Capital Boulevard in Raleigh; the property was built in 1997 and offers 47,957 square feet of space;
• NorthPark II at 11640 Capital Boulevard in Raleigh; the property was built in 2008 and offers 52,236 square feet of space;
• Five buildings of One North Commerce Center on Greens Dairy Road and Capital Boulevard in north Raleigh totaling 292,388 square feet of space;
• Two buildings of MacGregor Place in Cary with a combined 87,914 square feet of space.

According to the Triangle Business Journal’s quarterly Space survey, at the time of sale, the properties had an average occupancy rate of about 70 percent.

The Dilweg Companies is a Durham real estate investment and development firm founded by former NFL quarterback Anthony Dilweg.

In 2013, the company invested $120 million in office building acquisitions, mostly in Charlotte and in Atlanta.

This year, Dilweg intends to spend a total $200 million in similar investment deals.

“We are looking forward to a very active third and fourth quarter this year,” Anthony Dilweg told the newspaper.

Photo credits: Beacon Partners