NORTHRIDGE CAPITAL COMPLETES PURCHASE OF CLASS A OFFICE BUILDING IN DURHAM, NC
Washington, DC – May 14, 2021. Northridge Capital, LLC announced the acquisition of Innovation I, located in Durham, North Carolina in the heart of The Triangle. The four (4)-story, state-of-the art, Class A building was constructed in 2020 and totals approximately 140,000 square feet, anchored by biotechnology giant, Biogen, Inc., one of the first global biotechnology companies. Constructed in 2020, the Property features efficient 36,000 square floor plates, 9 and 10 – foot ceilings and numerous walkable amenities in Imperial Center. acquisition marks the seventh the completed transaction in North Carolina since 2013 by Northridge Capital, the Washington, D.C.-based real estate investment and asset management firm, and the various offshore institutional and high-net-worth family offices it represents..
“Northridge Capital has been actively pursuing and investing in The Triangle and the great State of North Carolina for the better half of the past decade due to its high – quality workforce, world class universities, business forward government and overall investment climate. The pandemic only seemed to accelerate a migration trend that was already taking place to the Sun Belt from high cost, high tax jurisdictions and we are thrilled to grow our footprint there on behalf of our investors,” said David Etemadi, Managing Director with Northridge Capital.
About Northridge Capital, LLC
Northridge Capital is an independent real estate asset management firm that has invested since its founding in 1997 in over 50 assets on behalf of its investors with a combined acquisition value of approximately $1.26 billion. Based in Washington, DC, the company works mainly with overseas institutional and individual investors to successfully define and implement customized strategies for investing in US commercial real estate. Northridge focuses on generating superior risk-adjusted returns for investors by acquiring, managing, and selling real estate assets across a wide variety of property types and located in strategic geographic areas.