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Cushman & Wakefield Arranges Sale of EastRidge at Perimeter Park on Behalf of Somerset Properties and Alex. Brown Realty

10/7/2020
Cushman & Wakefield has arranged the sale of EastRidge at Perimeter Park, an eight-building single-story office/flex campus totaling 476,625 square feet, located in Morrisville, North Carolina.

EastRidge at Perimeter Park

David Finger and Sara Owen of Cushman & Wakefield’s Raleigh-Durham office along with Samir Idris of Cushman & Wakefield’s Atlanta office represented the sellers, Somerset Properties and Alex. Brown Realty, in the transaction. King Street Properties of Boston partnered with Nuveen Real Estate to acquire the campus for an undisclosed amount.

Centrally located near Research Triangle Park and RDU International Airport, EastRidge at Perimeter Park is home to a number of STEM-based businesses and poised to take advantage of the growing demand for research and development companies seeking flexible space to accommodate a variety of needs

The campus was 95% leased with approximately five years of weighted average remaining lease term at the time of sale. The 39.63-acre property includes a 5,400-square-foot amenity center that features conference/meeting facilities, a kitchen and a fitness center. Built between 1983 and 1986, the sellers invested more than $1.2 million in capital improvements over the last three years.

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

Cushman & Wakefield Media Contact

Savannah Durban Atlanta Communications
Savannah Durban

Americas PR Content Manager • Atlanta

Ms. Durban leads public relations for Cushman & Wakefield's Central region. She oversees media relations, thought leadership initiatives, and manages blogs and social media.

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