ACQUISITION | MAY 2021
A four (4)-story, state-of-the art, Class A office building located in the highly desirable RTP / I-40 Corridor submarket. The Property is anchored by publicly traded (NASDAQ: BIIB) and Investment Grade rated (S&P: A-, Moody’s: Baa1) Biogen, Inc., one of the world’s first global biotechnology companies that is focused on developing research and drugs to treat multiple sclerosis, Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (ALS).
Constructed in 2020, the new office building is comprised of 144,000 square feet and offers 9- and 10-ft ceiling heights, spacious 36,000 square foot floor plates, and plenty of surface parking (5.4 spaces per 1,000 sf). The Property is located in the Imperial Center, a leading mixed-use business park that benefits from its connections to major roadways I-40 and I-540, and its proximity to RDU airport. It is also located adjacent to Perimeter Park and minutes from the Research Triangle Park. Considered a great location to work, the park spans 450 acres with retail, restaurants, hotels, office space, medical center, industrial and flex space.
The property offers a steady cash flow yield to investors for a hold period of 5 years.
Northridge Capital is dedicated to providing a high level of personalized service for its investors. Northridge works mainly with overseas institutional and individual investors, especially those from the Middle East, to successfully define and implement customized strategies for investing in US commercial real estate.