{"id":1004496472,"date":"2020-12-02T05:07:40","date_gmt":"2020-12-02T13:07:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004496472"},"modified":"2020-12-02T05:07:40","modified_gmt":"2020-12-02T13:07:40","slug":"starwood-capital-group-jv-buys-business-park-for-209m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-capital-group-jv-buys-business-park-for-209m\/","title":{"rendered":"Starwood Capital Group JV Buys Business Park for $209M"},"content":{"rendered":"
\"\"<\/a>

Southport Business Park, Building 13<\/p><\/div>\n

A partnership of Starwood Capital Group and Trinity Capital Advisors has purchased the 17-building Southport Business Park in Morrisville, N.C., from GID. The large-scale, flex-to-life science conversion<\/a> opportunity traded for $208.6 million, according to public records. JLL Capital Markets represented the seller.<\/p>\n

\n

READ ALSO<\/strong>: Repositioning Commercial Buildings Into Life Science Facilities: Q&A<\/a><\/p>\n

\n

Southport Business Park is located on 114 acres at Aviation Parkway, 3 miles south of Raleigh-Durham International Airport and comprises 911,702 square feet. Additionally, the property includes three lots, zoned for 200,000 square feet of commercial space.<\/p>\n

The site is situated in proximity of Interstate 40 and within a 14-mile radius of both Raleigh, N.C. and Durham, N.C. The light industrial\/flex business park already holds a significant lab component, facilitating its potential transition into the life sciences industry. The largest science research park in the U.S. \u2014Research Triangle Park in Durham\u2014 is 7 miles away.<\/p>\n

Senior Director Patrick Nally, Senior Managing Director Ryan Clutter and Associate Valerie Derrick made up the JLL Capital Markets team working on behalf of GID.<\/p>\n

Earlier this year, Starwood Capital Group acquired the first two phases of Airport Logistics Park in Nashville, Tenn. The company paid $62.3 million<\/a> for the nearly 400,000-square-foot industrial complex.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets facilitated the sale of the 17-building property in metro Raleigh-Durham.<\/p>\n","protected":false},"author":739,"featured_media":1004496496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21754,21742,1604],"tags":[48761,32796,44006,34947,34880,37638],"class_list":["post-1004496472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-medical-office","category-latest","category-raleigh-durham","tag-gid-development-group","tag-jll","tag-jll-capital-markets","tag-ryan-clutter","tag-starwood-capital-group","tag-trinity-capital-advisors"],"acf":[],"yoast_head":"\nStarwood Capital Group JV Buys Business Park for $209M - 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\/starwood-capital-group-jv-buys-business-park-for-209m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starwood Capital Group JV Buys Business Park for $209M\" \/>\n<meta property=\"og:description\" content=\"JLL Capital Markets facilitated the sale of the 17-building property in metro Raleigh-Durham.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/starwood-capital-group-jv-buys-business-park-for-209m\/\" \/>\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=\"2020-12-02T13:07:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/12\/Southport2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\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\/starwood-capital-group-jv-buys-business-park-for-209m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/starwood-capital-group-jv-buys-business-park-for-209m\/\",\"name\":\"Starwood Capital Group JV Buys Business Park for $209M - 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