CARY, NC-Grubb Properties has bought the Edinburgh Center corporate park situated near MacGregor Downs in Cary for $7 million from an Asheville investment group headed by Charles Archerd. The company has plans to refurbish the four office buildings comprising 115,027 square feet of space.
The four Edinburgh Center office buildings were developed between 1984 and 1991. Grubb Properties secured a $5-million loan from Seattle, Washington-based Symetra Life Insurance Co. for the acquisition. Grubb & Ellis/Thomas Linderman Graham brokered the deal for the seller. For the full story, go to Triangle Business Journal .
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