3901 S Miami Blvd

3901 South Miami Boulevard, Durham, NC, 27709, US

Description

Jones Lang LaSalle (“JLL”), a North Carolina licensed real estate broker, has been retained as the exclusive sales representative for the sale of 3901 S Miami Blvd (the “Property”), a single-tenant office asset in Raleigh-Durham. Measuring 200,846 square feet, the offering is fully leased to Toshiba Tec Corporation, a subsidiary of Toshiba Corporation (R&I: BBB-) through April 2028. Additionally, the Property serves as the corporate headquarters for Toshiba Global Commerce Solutions, the global market share leader in retail store technology.

Conveniently located at the intersection of I-885 and I-40, the Property allows for easy access to Research Triangle Park, Raleigh-Durham International Airport and the greater MSA. The site has direct access to Miami Boulevard, the market’s primary north-south industrial thoroughfare and existing Industrial Light zoning permits a broad range of industrial uses by-right, enabling faster approval timelines and project delivery for a future industrial redevelopment scenario.

3901 S Miami Blvd presents investors with the unique opportunity to acquire a Class A office asset located in one of the country’s fastest growing markets to a credit tenant, combined with the ability to unlock a generational industrial development site.

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Attributes

Building area net

18,659 sm

Occupancy

100%

Year built

1999

Land area gross

9.79 ha

WALT

2.4 years

Lease type

Absolute Triple Net

Media

Investment highlights

EXISTING ASSET

Corporate Headquarters for Toshiba Global Commerce Solutions.
100% leased to Toshiba TEC Corporation providing investors with stable in-place cash flow.
Absolute triple net lease.

REDEVELOPMENT POTENTIAL

Current tenant has been in active dialog with ownership on a potential renewal, while simultaneously looking for relocation options in the market.
If the tenant elects to renew, potential investors are offered asymmetric upside with long-term cash flow to a creditworthy tenant.
Should the tenant elect to relocate, potential investors are provided with a generational industrial development site.

STRATEGIC INFILL LOCATION WITH BY-RIGHT ZONING

Located in the midst of the Patriot Park, the site has existing Industrial Light zoning per the City of Durham, which permits a broad range of industrial uses and enables a faster approval timeline and project delivery if the property is redeveloped into industrial.
The Property is located just outside of the Research Triangle Park (RTP) boundary and therefor is not subject to RTP rezoning efforts.

EXCEPTIONAL LAND ASSEMBLY OPPORTUNITY IN PRIME RTP SUBMARKET

Rare 20+ acre contiguous redevelopment site offering significant scale potential in a market where large development parcels have become increasingly constrained due to limited available land and mature submarket conditions.

PREMIUM ACCESS ALONG HIGHLY-SOUGHT INDUSTRIAL CORRIDOR

Direct access to Miami Blvd, the primary north-south industrial thoroughfare providing seamless connectivity to Research Triangle Park, I-40, and Highway 70— positioning tenants within the region’s most strategic logistics network.