Portfolio description
Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sale representative for Concourse Lakeside I & II (the “Property”), two Class A office assets totaling 156,649 square feet in the flourishing Raleigh-Durham market. The Property is currently 86.7% leased to an attractive mix of tenants with remaining WALT of 2.43 years and in-place rents approximately 16% below market, presenting an attractive value-add offering with both leasing and mark-to-market upside. Concourse Lakeside benefits from direct access to Interstate 40 and Interstate 540, offering superior accessibility and
regional connectivity to the surrounding Raleigh-Durham metropolitan area. The asset is positioned in one of Raleigh-Durham’s premier submarkets, the RTP/I-40 submarket, with close proximity to the world-renowned Research Triangle Park and the RDU International Airport. Recent mixed-use development in the RTP/I-40 submarket has strengthened the
infill location of Concourse Lakeside as the surrounding amenity base grows and investment opportunities for Class A office assets become increasingly rare. Concourse Lakeside represents a unique opportunity to invest in a portfolio that offers attractive stability and near-term upside potential at a price that is at a discount to replacement cost in the highly desirable RTP/I-40 submarket of Raleigh-Durham.
Attributes
Investment Highlights
- Balanced Tenant Roster
- Mark-To Market Opportunity
- Life Science and Corporate Growth in the Immediate Area
- Strategically Located
- Significant Discount to Replacement Cost
- Economic Development in Raleigh-Durham
- Life Science / Tech Job Multiplier