The center consists of a two-story building with an atriumlobby, three one-story flex buildings and on-site recreation andpicnic areas. The buildings were constructed between 1984 and 1988.The property was 83% leased at the time of the sale. The companyplans to initiate a multimillion-dollar capital improvement programthat will include replacing the roofs and improvements to the HVACsystem.

BPG vice president George Haines tells GlobeSt.com that theproperty's location made it attractive for acquisition. "We foundthis property to be a nice addition to what we already own in thearea," he says. "These are brick buildings instead of tilt-upconcrete so it offers something that's a bit more upscale."

Triangle Business Center is located in the Research TrianglePark/Interstate 40 submarket, situated at the intersection ofSouthern Parkway and Miami Boulevard. The properties are locatedadjacent to Research Triangle Park and 6.5 miles west of theRaleigh-Durham International Airport. The property has immediateaccess to US 70, Interstate 540 and Interstate 54.