Vigilant Real Estate Pays $58M for Research Triangle Asset

March 23, 2026

Investment Industrial Raleigh-Durham Southeast

Alloy Properties sold the building at a 63 percent premium over its previous price.

Exterior shot of The Press, a life science and industrial property in Cary, N.C. — Renovations at The Press reached completion in 2023. Now the building includes lab spaces as well as industrial features. *Image courtesy of JLL*

Vigilant Real Estate Holdings has purchased The Press, a 252,465-square-foot industrial facility in Cary, N.C. It paid $58.3 million for the asset, according to Wake County public records. The buyer also landed a $38.5 million acquisition loan from M&T Bank, according to the same source.

Alloy Properties, the life science real estate platform owned by TPG Real Estate Partners, sold the fully leased property. JLL brokered both the sale and the loan transaction.

The company got a 63 percent premium for the building when compared to the $35.8 million price it paid in 2021.

The Press is at 2001 Evans Road, occupying approximately 18 acres. Nearby major thoroughfares include interstates 40, 85, 540 and 440, allowing access throughout the Raleigh-Durham metro area, as well as Greensboro and Charlotte, N.C. The property is also near Research Triangle Park.

Previous ownership fully renovated the property. Completed in 1990, it was originally used by The Oxford University Press, using it as its East Coast distribution hub. Its transformation, completed in 2023, included the addition of nearly 200,000 square feet intended for life science users.

Millennium Print Group, a wholly owned subsidiary of The Pokémon Co. International, is the sole tenant since early 2025, according to Triangle Business Journal.

The Press includes 40-foot clear heights, enhanced electrical capacity, industrial features such as 14 dock-high loading doors and updated amenities, such as a tenant lobby, an outdoor courtyard and a new exterior.

The JLL Capital Markets team that represented the seller included Senior Director Dave Andrews, Senior Managing Director Pete Pittroff, Director Michael Scarnato, Managing Director Miyeon Lee, Associate Allan Parrott and Analyst Jack Cohen. Senior Managing Director Christopher Peck, Director Kate Rathman and Analyst Abby Reed arranged the acquisition financing on behalf of the buyer.

Research Triangle attracts life science investments

Life sciences companies continued to favor North Carolina last year, as there were $3.8 billion in new developments, relocations or expansions during 2025, according to North Carolina Biotechnology Center. The state’s strong economic development, workforce, infrastructure and education are some of the key factors contributing its designation for the 2025 State of the Year by Business Facilities magazine.

The Raleigh-Durham metro also ranked as the top region for therapeutic biologics production, driven by major biomanufacturing facilities. One of them is Genetech’s $700 million, 700,000-square-foot development in Holly Springs, N.C. The Roche Group company started construction last year on its first East Coast, a manufacturing facility estimated to reach completion by 2029.