
LifeScience Logistics at Durham85
2360 Ferrell Road, Durham, NC, 27704, US
23,276 sm
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)