{"id":1004114404,"date":"2015-02-26T15:23:46","date_gmt":"2015-02-26T23:23:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=329172"},"modified":"2020-04-29T22:33:29","modified_gmt":"2020-04-30T06:33:29","slug":"out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/","title":{"rendered":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M"},"content":{"rendered":"<p><em>by Adriana Pop, Associate Editor <\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-329173\" title=\"TrustAtlantic Bank office building in Raleigh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\" alt=\"\" width=\"300\" height=\"210\" \/><\/a>The TrustAtlantic Bank office property at the corner of Glenwood Avenue and Creedmoor Road in Raleigh has a new owner.<\/p>\n<p>According to the <em><a href=\"https:\/\/www.bizjournals.com\/triangle\/blog\/real-estate\/2015\/02\/trustatlantic-bank-crabtree-valley-building-sold.html\" target=\"_blank\" rel=\"nofollow\">Triangle Business Journal<\/a><\/em>, JPB Holdings LLC, a partnership led by former furniture industry executive John Buchheit of Rochester, N.Y. recently purchased the five-story, approximately 32,300-square-foot,\u00a0 building for $7.3 million. The transaction also included the property\u2019s 2.4-acre site, which had been under a long-term lease for the past 50 years. The sellers were two trust funds that had been set up for the descendants of the late Luna Mangum Beam and Elva A. Kost, and were represented by Ben Kilgore and Jeff Glenn of CBRE-Raleigh. JPB Holdings was represented by Jimmy Barnes and Whit Brown of NAI Carolantic Realty of Raleigh.<\/p>\n<p>The property was completely occupied at the time of sale. Its other tenants include Maginnis Law, Workday Inc. and Executive Suites of North Carolina.<\/p>\n<p>Formerly known as the Time &amp; Temperature Building for its digital signage display, the 40-year-old building across from Crabtree Valley Mall underwent a complete renovation in 2010 and is currently LEED Silver certified. The bank, which relocated its headquarters into the building in 2010, recently extended its lease through 2020, making the asset even more attractive.<\/p>\n<p>&#8220;The new buyer has been looking for property in this market for the last eight months to a year, and this is his first acquisition &#8211; what will hopefully be several more,&#8221; Barnes told the newspaper.<\/p>\n<p>NAI Carolantic Realty will continue to handle marketing and leasing activities, while Tri Properties of Durham will remain in charge of the asset\u2019s management duties.<\/p>\n<p><em>Photo credits: 310ai.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The five-story TrustAtlantic Bank office property at the corner of Glenwood Avenue and Creedmoor Road in Raleigh has a new owner.<\/p>\n","protected":false},"author":260,"featured_media":0,"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-1004114404","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"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>Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M - 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\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M\" \/>\n<meta property=\"og:description\" content=\"The five-story TrustAtlantic Bank office property at the corner of Glenwood Avenue and Creedmoor Road in Raleigh has a new owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/\" \/>\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=\"2015-02-26T23:23:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-30T06:33:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M\",\"datePublished\":\"2015-02-26T23:23:46+00:00\",\"dateModified\":\"2020-04-30T06:33:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\",\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/\",\"name\":\"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\",\"datePublished\":\"2015-02-26T23:23:46+00:00\",\"dateModified\":\"2020-04-30T06:33:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\\\/\\\/www.linkedin.com\\\/in\\\/ioana-adriana-pop-811772108\\\/.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-pop\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/","og_locale":"en_US","og_type":"article","og_title":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M","og_description":"The five-story TrustAtlantic Bank office property at the corner of Glenwood Avenue and Creedmoor Road in Raleigh has a new owner.","og_url":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-02-26T23:23:46+00:00","article_modified_time":"2020-04-30T06:33:29+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg","type":"","width":"","height":""}],"author":"Adriana Pop","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/"},"author":{"name":"Adriana Pop","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"headline":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M","datePublished":"2015-02-26T23:23:46+00:00","dateModified":"2020-04-30T06:33:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/"},"wordCount":280,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg","articleSection":["News","Raleigh-Durham"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/","url":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/","name":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg","datePublished":"2015-02-26T23:23:46+00:00","dateModified":"2020-04-30T06:33:29+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/TrustAtlantic-Bank-office-building-in-Raleigh.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/out-of-state-investor-group-buys-crabtree-valley-office-building-for-7m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad","name":"Adriana Pop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","caption":"Adriana Pop"},"description":"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004114404"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114404\/revisions"}],"predecessor-version":[{"id":1004428411,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004114404\/revisions\/1004428411"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004114404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004114404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004114404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}