
LifeScience Logistics at Durham85
2360 Ferrell Road, Durham, NC, 27704, US
23.276 m²
On behalf of Ownership, Jones Lang LaSalle Americas, Inc. ("JLL") has been retained as the exclusive sales representative for 3508 Tricenter Boulevard (the "Property"), a 272,937 square foot warehouse and distribution facility in the Raleigh-Durham, North Carolina MSA.
IMMEDIATE VALUE-ADD OPPORTUNITY
• Compelling value creation opportunity through strategic lease-up in a strong absorption market with demonstrated tenant demand
• Rapid leasing momentum underscores a deep desire to relocate business operations to the market - in the last 36 months, the Raleigh-Durham industrial market has experienced 7.9 million square feet of positive net absorption
BELOW REPLACEMENT COST ACQUISITION
The Property is being offered below today's replacement cost, in a submarket with extremely limited opportunities for future industrial development
RECENTLY RENOVATED, VERSATILE DESIGN
• Functional design allows for multi-tenant optionality
• Reinforced concrete construction with attractive accents
• ±5,400 SF of newly renovated office space split between two separate pods
• 333'-deep rear-load with 31 dock doors serviced by 184'-deep truck court with 50' concrete apron
• ESFR sprinkler and motion-sensored LED lighting
HIGHLY-CONNECTED LOGISITICS LOCATION
• Located within two (2) miles from the I-885 connector that joins I-40 to the south and I-85 to the north, providing access to the industrial super corridor with direct access to Raleigh-Durham and the entire Southeast region
• Seamless access to major transportation thoroughfares including I-40, I-85 and I-540, connecting the Property to every corner of the Raleigh-Durham region
• Immediate connectivity to demand drivers of the Raleigh-Durham market and its dynamic economy, such as Raleigh-Durham International Airport (RDU) and Research Triangle Park (RTP), the largest scientific research park in the United States
HIGH BARRIERS-TO-ENTRY RALEIGH-DURHAM INDUSTRIAL MARKET
• Raleigh-Durham continues to bolster its position as one of the most sought-after, high-performing industrial markets in the Southeast behind robust net absorption and rent growth
• Strong continued rental rate growth due to a substantial supply-demand imbalance with asking rates increasing by 38.8% in the last 36 months (+11.5% CAGR)