{"id":1004341940,"date":"2019-07-26T10:32:27","date_gmt":"2019-07-26T18:32:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004341940"},"modified":"2019-07-26T10:32:27","modified_gmt":"2019-07-26T18:32:27","slug":"global-mutual-buys-triangle-office-park-for-81m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/global-mutual-buys-triangle-office-park-for-81m\/","title":{"rendered":"Global Mutual Buys Triangle Office Park for $81M"},"content":{"rendered":"
\"\"<\/a>

Research Commons<\/p><\/div>\n

Greenfield Partners has sold Research Commons, a 429,758-square-foot Class A research office campus in Durham, N.C., for $81.4 million, according to Yardi Matrix. The buyer, Global Mutual, financed the acquisition with a $61.6 million loan from BBVA Compass Bank. The mortgage bears a variable interest rate over its five-year term.<\/p>\n

Located at 79 T.W. Alexander Drive, the five buildings are situated in the Research Triangle Park submarket on a 59-acre parcel north of Interstate 40\u2019s intersection with the Durham Freeway. The area\u2019s properties are heavily research-focused: Yardi Matrix shows more than half of the 7.9 million square feet of office space within 2 miles of the campus have a strong research component.<\/p>\n

The property was 95.8 percent leased at the time of the sale. The asset\u2019s tenant roster includes G1 Therapeutics, Grifols, North Carolina Department of Health and the Statistical and Applied Mathematical Sciences Institute. There is also room for 270,000 square feet of future development on the site.<\/p>\n

JLL Capital Markets\u2019 Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda represented the seller in the deal. Late last year, the same team facilitated the $69 million sale<\/a> of a 255,000-square-foot office campus 7 miles to the west.<\/p>\n","protected":false},"excerpt":{"rendered":"

BBVA Compass Bank provided the buyer of the nearly 430,000-square-foot Class A research campus with a five-year, $61.6 million acquisition loan.<\/p>\n","protected":false},"author":861,"featured_media":1004341943,"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":[37472,36212,32796,37056,34947,34949],"class_list":["post-1004341940","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-bbva-compass","tag-greenfield-partners","tag-jll","tag-research-triangle-park","tag-ryan-clutter","tag-scot-humphrey"],"acf":[],"yoast_head":"\nGlobal Mutual Buys Triangle Office Park for $81M - 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\/global-mutual-buys-triangle-office-park-for-81m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Mutual Buys Triangle Office Park for $81M\" \/>\n<meta property=\"og:description\" content=\"BBVA Compass Bank provided the buyer of the nearly 430,000-square-foot Class A research campus with a five-year, $61.6 million acquisition loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/global-mutual-buys-triangle-office-park-for-81m\/\" \/>\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=\"2019-07-26T18:32:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/Research-Commons.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\/global-mutual-buys-triangle-office-park-for-81m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/global-mutual-buys-triangle-office-park-for-81m\/\",\"name\":\"Global Mutual Buys Triangle Office Park for $81M - 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