{"id":1004553839,"date":"2021-10-13T07:12:27","date_gmt":"2021-10-13T15:12:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004553839"},"modified":"2022-12-08T18:43:42","modified_gmt":"2022-12-09T02:43:42","slug":"durham-life-science-assets-trade-for-67m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/","title":{"rendered":"Durham Life Science Assets Trade for $67M"},"content":{"rendered":"<div id=\"attachment_1004553842\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004553842\" data-attachment-id=\"1004553842\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/5-and-47-national-way\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\" data-orig-size=\"837,627\" 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;1&quot;}\" data-image-title=\"5 and 47 National Way. Image courtesy of JLL Income Property Trust\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;5 and 47 National Way. Image courtesy of JLL Income Property Trust &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg?w=837\" class=\"wp-image-1004553842 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg 837w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004553842\" class=\"wp-caption-text\">5 and 47 National Way. Image courtesy of JLL Income Property Trust<\/p><\/div>\n<p>JLL Income Property Trust has paid $66.8 million to acquire two life science properties totaling 375,000 square feet in Durham, N.C., in all-cash transactions. Strategic Capital Partners sold the fully leased properties, according to Durham County records.<\/p>\n<p>Both buildings are part of the Patriot Park campus, and are located at 5 and 47 National Way. In 2017, Strategic Capital Partners acquired the largest remaining sections of land adjacent to the Research Triangle Park from IBM with plans to build the <a href=\"https:\/\/www.commercialsearch.com\/news\/strategic-partners-to-develop-60m-industrial-park\/\">$60 million Patriot Park<\/a>.<\/p>\n<p>Strategic Capital Partners broke ground on the first phase totaling 322,800 square feet that summer, while the second phase, encompassing 5 and 47 National Way, were completed in 2020. In January, the developer started construction on the third phase.<\/p>\n<h2>The tenants<\/h2>\n<p>The second phase is fully leased, with a weighted average lease term of more than 14 years. The 187,312-square-foot 47 National Way is leased to KBI Biopharma Inc., a JSR Life Sciences company. As of April, 5 National Way, totaling 187,500 square feet, is home to Taysha Gene Therapies Inc.<\/p>\n<p>Both tenants invested millions to tailor the properties to their needs, with options such as laboratory facilities along with clean and cold rooms. KBI invested $150 million in the facility and expects it to be operational by the first quarter of 2022, while Taysha spent $75 million, and anticipates that its production suites will be fully operational by 2023.<\/p>\n<h2>The properties<\/h2>\n<p>The buildings offer 188 parking spaces and 20 trailer parking spots, are equipped with ESFR sprinkler systems and feature 32-foot ceiling heights and 130-foot truck courts. Five and 47 National Way are some 6 miles northwest of Raleigh-Durham International Airport, within 2 miles of RTI International, in the heart of the Research Triangle Park.<\/p>\n<p>The 7,000-acre Research Triangle Park is home to hundreds of tenants including Asklepios BioPharmaceutical Inc., Dell EMC and IBM Corp. In April, <a href=\"https:\/\/www.commercialsearch.com\/news\/apple-to-build-1-msf-campus-in-north-carolina\/\">Apple announced plans to build<\/a> a $1 billion, 1 million-square-foot campus within RTP.<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Income Property Trust bought the newly built, fully leased properties.<\/p>\n","protected":false},"author":1763,"featured_media":1004553842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[45095,33289],"class_list":["post-1004553839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","tag-jll-income-property-trust","tag-strategic-capital"],"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>Durham Life Science Assets Trade for $67M - 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\/durham-life-science-assets-trade-for-67m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Durham Life Science Assets Trade for $67M\" \/>\n<meta property=\"og:description\" content=\"JLL Income Property Trust bought the newly built, fully leased properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/\" \/>\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=\"2021-10-13T15:12:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:43:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"837\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\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\/durham-life-science-assets-trade-for-67m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/\",\"name\":\"Durham Life Science Assets Trade for $67M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\",\"datePublished\":\"2021-10-13T15:12:27+00:00\",\"dateModified\":\"2022-12-09T02:43:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/durham-life-science-assets-trade-for-67m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/5-and-47-National-Way-e1634132911741.jpg\",\"width\":837,\"height\":627,\"caption\":\"5 and 47 National Way. 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