RALEIGH, NC-California investor Herbert Kendall paid $17.4 million for the 120,000-sf, one-year-old Lucent Technologies Building on North Carolina State University's centennial campus. Duke-Weeks built the structure last year for $100 per sf.
Lucent is on a 20-year lease, occupying the entire building. Kendall also owns NorthChase Center I and II on Six Forks Road in Raleigh, 150 miles northeast of Downtown Charlotte. One Hanover Square in Downtown Raleigh last year sold for $45 million or about $125 per sf.
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The transaction in Huntersville, which closed on July 5, is the largest financing deal for Trez Forman in North Carolina this year. So far in 2018, Trez Forman has lent approximately $98 million in construction and acquisition financing for North Carolina residential projects.
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