The 631,582 sf spans 11 single-story office flex buildingswithin two business parks: Perimeter Park, now known as EastRidgeat Perimeter Park, and Spring Forest Business Center. Adam Lutz,principal of the Farmington Hills, MI-based Lutz Real EstateInvestments, tells GlobeSt.com the deal carried an approximate 7.5%cap rate.

East Ridge at Perimeter Park contains 477,495 sf in eightbuildings and the tenant roster lists 18 companies, mostly techfirms and laboratory users. Located in the RTP/I-40 submarket, thepark is two miles from RDU International Airport and near DukeUniversity, University of North Carolina and North Carolina StateUniversity.

Spring Forest Business Center contains 154,087 sf in threebuildings and the tenant roster lists 15 companies. It is locatedin the US1/Capital Boulevard submarket.

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