{"id":1004094105,"date":"2014-04-04T13:23:36","date_gmt":"2014-04-04T21:23:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=251945"},"modified":"2020-04-14T22:34:02","modified_gmt":"2020-04-15T06:34:02","slug":"northchase-office-park-in-raleigh-welcomes-new-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northchase-office-park-in-raleigh-welcomes-new-tenant\/","title":{"rendered":"Northchase Office Park in Raleigh Welcomes New Tenant"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br \/>\n<w:ValidateAgainstSchemas\/><br 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\/>\n<w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>\n<\/w:LatentStyles><br \/>\n<\/xml><![endif]--><!--[if gte mso 10]><\/p>\n\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n\t{mso-style-name:\"Table Normal\";\n\tmso-tstyle-rowband-size:0;\n\tmso-tstyle-colband-size:0;\n\tmso-style-noshow:yes;\n\tmso-style-priority:99;\n\tmso-style-parent:\"\";\n\tmso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n\tmso-para-margin-top:0cm;\n\tmso-para-margin-right:0cm;\n\tmso-para-margin-bottom:10.0pt;\n\tmso-para-margin-left:0cm;\n\tline-height:115%;\n\tmso-pagination:widow-orphan;\n\tfont-size:11.0pt;\n\tfont-family:\"Calibri\",\"sans-serif\";\n\tmso-ascii-font-family:Calibri;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-hansi-font-family:Calibri;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/North-Chase-II-at-6601-Six-Forks-Road-in-Raleigh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-251946\" title=\"North Chase II at 6601 Six Forks Road in Raleigh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/North-Chase-II-at-6601-Six-Forks-Road-in-Raleigh.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Phillips Architecture has recently relocated to the newly renovated Northchase office park on Six Forks Road in Raleigh. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/triangle\/blog\/2014\/03\/raleigh-architectural-firm-relocates-to-newly.html\" target=\"_blank\" rel=\"nofollow\">Triangle Business Journal<\/a><\/em>, the firm occupies approximately 9,000 square feet on the ground floor of Northchase II. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Comprised of two low-rise buildings, the Northchase property dates back to the mid-1980s and has been mostly vacant since Genworth Financial moved out in 2009.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Last summer, Principal Global Investors of Des Moines, Iowa purchased the buildings from a California investor for $11.65 million, about 50 percent less than the properties\u2019 $23.2 million tax value. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The company commissioned Tri Properties of Durham to refurbish the buildings, while Phillips Architecture was in charge with the redesign of the spaces.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cWe are excited with Phillips Architecture\u2019s move to Northchase at Midtown and their overall involvement with the redevelopment of the two buildings,&#8221; Clay Stober, senior vice president and partner at Tri Properties, told the newspaper. &#8220;With several other prospects showing interest we are thrilled with the progress at Northchase in reshaping the Six Forks Road submarket.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Phillips Architecture, which has about 25 employees, relocated from a six-story building on Navaho Drive in north Raleigh, where it had been based for the past 23 years. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, Northridge Capital LLC of Washington, D.C. has acquired a Class A office building located in the 270-acre master-planned Meridian Corporate Center in Durham. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/triangle\/news\/2014\/04\/01\/d-c-investors-snatch-up-vce-office-building-in.html\" target=\"_blank\" rel=\"nofollow\">Triangle Business Journal<\/a><\/em>, an investor group represented by HDG Mansur of Indianapolis sold the 61,763-square-foot property at 2635 Meridian Parkway for $6.4 million. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Scot Humphrey, Chris Norvell, SIOR and Bill Simerville of Cushman &amp; Wakefield | Thalhimer\u2019s Capital Markets Group brokered the transaction on behalf of the seller. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The building, which is anchored by Virtual Computing Environment Co., a joint venture of Cisco Systems and EMC Corp., was 69 percent leased at the time of sale.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.loopnet.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phillips Architecture has recently relocated to the newly renovated Northchase office park on SIx Forks Road in Raleigh.<\/p>\n","protected":false},"author":260,"featured_media":1004507264,"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":[1815],"class_list":["post-1004094105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Northchase Office Park in Raleigh Welcomes New Tenant - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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