{"id":1004340434,"date":"2019-07-23T04:17:31","date_gmt":"2019-07-23T12:17:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004340434"},"modified":"2019-07-23T04:17:31","modified_gmt":"2019-07-23T12:17:31","slug":"principal-global-investors-trades-nc-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/","title":{"rendered":"Principal Global Investors Trades NC Office Park"},"content":{"rendered":"<div id=\"attachment_1004340440\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004340440\" data-attachment-id=\"1004340440\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/northchase-ii\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.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=\"NorthChase II\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;NorthChase II&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg?w=1000\" class=\"wp-image-1004340440 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004340440\" class=\"wp-caption-text\">NorthChase II<\/p><\/div>\n<p>JPB Holdings has acquired NorthChase I &amp; II, a two-building, 165,000-square-foot office park in Raleigh, N.C., for $39.8 million from Principal Global Investors, according to Yardi Matrix. Reinsurance Group of America provided the buyer with a seven-year, $29 million financing package. The seller purchased the campus in mid-2013 for $11.7 million from a private investor.<\/p>\n<p>Located at 6501 and 6601 Six Forks Road, the four-story NorthChase I &amp; II are in a suburban setting 7 miles north of downtown Raleigh. The area is home to several smaller office buildings and a number of retail properties 1 mile north at Sawmill Road.<\/p>\n<p>The smaller of the two buildings, the 57,332-square-foot NorthChase I, is fully leased to Merz Pharma\u2014the firm operates its North American headquarters out of the structure. NorthChase II is occupied by a mix of tenants including Phillips Architecture, Eastwood Homes and Better Homes &amp; Gardens Real Estate.<\/p>\n<p>The two assets opened in 1983 and 1985, previously serving as the headquarters for Genworth Financial\u2019s mortgage insurance business. The firm vacated the park in 2009, and Principal invested in renovation work in 2014 following its acquisition of the campus.<\/p>\n<p>More than $400 million of office transactions have closed in the metro this year, Yardi Matrix data shows. The Morrisville submarket, 15 miles west of JPB\u2019s acquisition, has had the most activity to date. In April, Align Technology <a href=\"https:\/\/www.commercialsearch.com\/news\/triangle-office-building-changes-hands-in-58m-deal\/\">paid nearly $60 million<\/a> for a 200,000-square-foot Class A building in the area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two buildings changed hands for nearly $40 million and encompass some 165,000 square feet of Class A space in the metro\u2019s Six Forks Road submarket.<\/p>\n","protected":false},"author":861,"featured_media":1004340440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1604],"tags":[36351,46415,34073,39218],"class_list":["post-1004340434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-raleigh-durham","tag-capital-improvement","tag-jpb-raleigh-holdings-llc","tag-principal-global-investors","tag-reinsurance-group-of-america"],"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>Principal Global Investors Trades NC Office Park - 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\/principal-global-investors-trades-nc-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Principal Global Investors Trades NC Office Park\" \/>\n<meta property=\"og:description\" content=\"The two buildings changed hands for nearly $40 million and encompass some 165,000 square feet of Class A space in the metro\u2019s Six Forks Road submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/\" \/>\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=\"2019-07-23T12:17:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/\",\"name\":\"Principal Global Investors Trades NC Office Park - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg\",\"datePublished\":\"2019-07-23T12:17:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg\",\"width\":1000,\"height\":800,\"caption\":\"NorthChase II\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Principal Global Investors Trades NC Office Park\"}]},{\"@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\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Principal Global Investors Trades NC Office Park - 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\/principal-global-investors-trades-nc-office-park\/","og_locale":"en_US","og_type":"article","og_title":"Principal Global Investors Trades NC Office Park","og_description":"The two buildings changed hands for nearly $40 million and encompass some 165,000 square feet of Class A space in the metro\u2019s Six Forks Road submarket.","og_url":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-07-23T12:17:31+00:00","og_image":[{"width":1000,"height":800,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/","url":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/","name":"Principal Global Investors Trades NC Office Park - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg","datePublished":"2019-07-23T12:17:31+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg","width":1000,"height":800,"caption":"NorthChase II"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/principal-global-investors-trades-nc-office-park\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Principal Global Investors Trades NC Office Park"}]},{"@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\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/NorthChase-II.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004340434","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\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004340434"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004340434\/revisions"}],"predecessor-version":[{"id":1004340464,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004340434\/revisions\/1004340464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004340440"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004340434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004340434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004340434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}