{"id":1004053563,"date":"2012-01-27T13:49:17","date_gmt":"2012-01-27T21:49:17","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=32849"},"modified":"2022-12-08T17:16:20","modified_gmt":"2022-12-09T01:16:20","slug":"archon-group-acquires-six-office-properties-in-the-triangle-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/archon-group-acquires-six-office-properties-in-the-triangle-area\/","title":{"rendered":"Archon Group Acquires Six Office Properties in the Triangle Area"},"content":{"rendered":"<p>By Liviu Oltean, Associate Editor<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/Duke-Realty.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-32853\" title=\"Print\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/Duke-Realty.jpg\" alt=\"\" width=\"300\" height=\"213\" \/><\/a>Duke Realty Corp. recently sold six office properties for $44 million to Archon Group of Irving, Texas, a real estate investment arm of Goldman Sachs.<\/p>\n<p>The buildings, located in Raleigh and Cary, had been acquired or developed by Duke Realty\u2019s Indianapolis-based branch. The locations of the assets are:\u00a05540 Centerview Drive, 5565 Centerview Drive, 5520 Capital Center Drive, 801 Jones Franklin Road, 1616 Millbrook Road and 6501 Weston Parkway.<\/p>\n<p>Duke had\u00a0recently\u00a0been selling\u00a0their office portfolios throughout the country in favor of industrial buildings and warehouse development opportunities, the <em>Triangle Business Journal<\/em> reports.<\/p>\n<p>Duke acquired the Greenfield North Business Park for about $30 million in October 2011. The\u00a0transaction represented the company\u2019s third acquisition in the Triangle area. The business park includes a 230,580-square foot building located at 1757 TW Alexander Drive and the 325,000-square-foot CenterPoint I.<\/p>\n<p>In related news, New Boston Fund Inc., a private equity real estate firm, purchased the Carolina Place office building at 2626 Glenwood Avenue. According to the <em>Triangle Business Journal<\/em>, the acquisition price has not been disclosed,\u00a0 but a Wake County deed record listed that the price was about $15.6 million.<\/p>\n<p>The office building is a five-story property that encompasses 99,181 square feet of Class A office space, and is located on Glenwood Avenue, just over one mile from the I-440 Beltline. The former owner, DREF Carolina Place LLC of Dallas, had paid $12.9 million for the asset in 2001. The property\u2019s occupancy rate at the time of the sale was 86 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Liviu Oltean, Associate Editor<br \/>\nDuke Realty Corp. recently sold six office properties for $44 million to Archon Group of Irving, Texas, a real estate investment arm of Goldman Sachs.<br \/>\nThe buildings, located in Raleigh and Cary, had been acquired or developed [&#8230;]<\/p>\n","protected":false},"author":1158,"featured_media":1004505436,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[],"class_list":["post-1004053563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Archon Group Acquires Six Office Properties in the Triangle Area - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/archon-group-acquires-six-office-properties-in-the-triangle-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Archon Group Acquires Six Office Properties in the Triangle Area\" \/>\n<meta property=\"og:description\" content=\"By Liviu Oltean, Associate Editor Duke Realty Corp. recently sold six office properties for $44 million to Archon Group of Irving, Texas, a real estate investment arm of Goldman Sachs. The buildings, located in Raleigh and Cary, had been acquired or developed [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/archon-group-acquires-six-office-properties-in-the-triangle-area\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-27T21:49:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:16:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Duke-Realty.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/archon-group-acquires-six-office-properties-in-the-triangle-area\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/archon-group-acquires-six-office-properties-in-the-triangle-area\/\",\"name\":\"Archon Group Acquires Six Office Properties in the Triangle Area - 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