RALEIGH, NC – City Office REIT has purchased a new 495,121-square-foot, trophy office development in Raleigh, NC for $330 million. The REIT acquired the property from Heritage Properties.
The acquisition of the property, titled Bloc 83, represents the largest single real estate transaction in downtown Raleigh's history.
Bloc 83 comprises two class A office towers, One Glenwood and Tower II, which were completed in 2019 and 2021, respectively. The properties are 79% leased and anchored by tenants, Envetnet, First Horizon Bank and McAdams.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
