{"id":1004324942,"date":"2019-05-21T22:17:20","date_gmt":"2019-05-22T06:17:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004324942"},"modified":"2019-05-21T22:17:20","modified_gmt":"2019-05-22T06:17:20","slug":"founders-properties-buys-raleigh-office-portfolio-for-23m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/founders-properties-buys-raleigh-office-portfolio-for-23m\/","title":{"rendered":"Founders Properties Buys Raleigh Office Portfolio for $23M"},"content":{"rendered":"<div id=\"attachment_1004324945\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004324945\" data-attachment-id=\"1004324945\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/founders-properties-buys-raleigh-office-portfolio-for-23m\/spring-forest-business-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg\" data-orig-size=\"1000,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Spring Forest Business Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Spring Forest Business Center. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg?w=1000\" class=\"wp-image-1004324945 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004324945\" class=\"wp-caption-text\">Spring Forest Business Center. <em>Image courtesy of Yardi Matrix<\/em><\/p><\/div>\n<p>Stoltz Real Estate Partners has sold the three-building Spring Forest Business Center in Raleigh, N.C., for $22.5 million to Founders Properties, according to Yardi Matrix. The Woodmen of the World Life Insurance Society provided $14.5 million in acquisition financing to the buyer, set to mature in 2029.<\/p>\n<p>The property last changed hands in late 2017, when Stoltz <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-facilitates-the-sale-of-126-ksf-raleigh-business-center\/\">acquired the asset for nearly $18 million<\/a> from a joint venture between Somerset Properties and Alex. Brown Realty.<\/p>\n<p>Located at 3100, 3150 and 3200 Spring Forest Road in the Falls of Neuse submarket, the campus is positioned roughly 7 miles northeast of downtown Raleigh. The property is within 2 miles of Interstate 540 and a stone\u2019s throw from the 1.6 million-square-foot Triangle Town Center shopping mall.<\/p>\n<p>The asset was last renovated in 2017, according to Yardi Matrix. The three one-story buildings are leased to a mix of tenants, including American Anesthesiology, Prometric, nThrive and Liberty HomeCare &amp; Hospice. Nearly 600 parking spaces are located on-site, with a public transportation route half a mile away.<\/p>\n<p>In March, another, larger office park <a href=\"https:\/\/www.commercialsearch.com\/news\/petrus-partners-sells-nc-office-park\/\">changed hands for $23.2 million in nearby Greensboro<\/a>, N.C. The four-building campus contains just shy of 265,000 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The three-building Class C office campus contains nearly 155,000 square feet. The buyer landed $14.5 million in financing for the deal.<\/p>\n","protected":false},"author":861,"featured_media":1004324945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,1604],"tags":[32946,36351,35863,36213,37838],"class_list":["post-1004324942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-raleigh-durham","tag-alex-brown-realty-inc","tag-capital-improvement","tag-founders-properties","tag-somerset-properties","tag-stoltz-real-estate-partners"],"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>Founders Properties Buys Raleigh Office Portfolio for $23M - 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\/founders-properties-buys-raleigh-office-portfolio-for-23m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Founders Properties Buys Raleigh Office Portfolio for $23M\" \/>\n<meta property=\"og:description\" content=\"The three-building Class C office campus contains nearly 155,000 square feet. The buyer landed $14.5 million in financing for the deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/founders-properties-buys-raleigh-office-portfolio-for-23m\/\" \/>\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=\"2019-05-22T06:17:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Spring-Forest-Business-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\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\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Founders Properties Buys Raleigh Office Portfolio for $23M\",\"datePublished\":\"2019-05-22T06:17:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/\"},\"wordCount\":207,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/Spring-Forest-Business-Center.jpg\",\"keywords\":[\"Alex Brown Realty Inc.\",\"Capital improvement\",\"Founders Properties\",\"Somerset Properties\",\"Stoltz Real Estate Partners\"],\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"News\",\"Office\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/\",\"name\":\"Founders Properties Buys Raleigh Office Portfolio for $23M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/Spring-Forest-Business-Center.jpg\",\"datePublished\":\"2019-05-22T06:17:20+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/founders-properties-buys-raleigh-office-portfolio-for-23m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/Spring-Forest-Business-Center.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/Spring-Forest-Business-Center.jpg\",\"width\":1000,\"height\":800,\"caption\":\"Spring Forest Business Center. 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