Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1987
Building Area

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the

exclusive sale representative for Research Commons, a 429,758 square

foot life science conversion opportunity featuring 18+ acres of additional

developable land. The property, which is currently 86% leased with 6.2

years of WALT, is uniquely positioned within the bounds of Research Triangle

Park, the largest dedicated research park in the country and home to a slew

of global companies including Apple, Eli Lilly, Glaxo-Smith Kline, IBM, and

more, and at the geographic center or Raleigh-Durham. Raleigh-Durham is

one of the world’s leading life science hubs, driven primarily by innovative

companies positioned within the world-renowned Research Triangle Park.

Research Triangle Park’s status as a leading life science hub drives a bullish

long-term outlook for Research Commons, which stands to benefit from

long-term tailwinds within the sector as additional development is completed

and buildings are potentially converted.

Investment Highlights

This unique opportunity allows a future owner to maintain positive cash flow

throughout the life science conversion process of the existing real estate

and the development of the additional land as a long-term lease in place

with Grifols (38.5% of RBA) was extended an additional five years to a 2032

expiration date as well as expanded into an additional 14,103 square feet

just last year. This space is mission critical to Grifols as it is well positioned

to create synergy between their operations at Research Commons and

their manufacturing plant in Clayton, NC, which is the largest plasma

fractionation facility in the world. The property is adjacent to numerous

game-changing corporate relocations, including Apple’s transformation

campus and a number of significant life science and pharmaceutical

campuses. Furthermore, Research Commons is one of the largest nonowner

occupied campuses in RTP, a dynamic which creates high barriers to

entry for investors and leasing advantages as the majority of the product in

RTP is not leaseable. Research Commons stands to benefit from long-term

demand driven by secular tailwinds within the life science space, along with

long-term migration and corporate relocations to the region.

This offering is a truly one-of-a-kind opportunity to gain significant scale,

development land, and life science conversion space, and ultimately

substantially grow or seed a life science platform in one of the most coveted

life science markets in the country.

Last Updated Date: 26 Aug 2021
Ryan Clutter
Ryan Clutter
Senior Managing Director, Office Group Co-Leader
License details
MD-645969 NC-172952 SC-6364
Jonathan Geanakos
Jonathan Geanakos
Executive Managing Director, Capital Markets, Global Co-Head/Investor Client Relations

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 26 Aug 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.