Firm Continues Investment in North Carolina
WASHINGTON, D.C., (July 1, 2015) - Northridge Capital, LLC, an independent real estate asset management firm based in Washington, DC, today announced the sale of 2635 Meridian Parkway, a 63,394-square-foot Class A office building in Durham, North Carolina, for $8,750,000 to Dominion Realty Partners, LLC.
The two-story, institutional-quality office property is located within Meridian Corporate Center. Northridge Capital purchased the building in 2014 for $6.4 million when the property was 69 percent leased. The building is now fully leased to a creditworthy tenant roster.
“We are extremely pleased with the outcome of this value-add investment, and our successful partnering with Cushman & Wakefield | Thalhimer Capital Markets Group,” said David W. Jackson, president of Northridge Capital. “We remain very bullish on the Triangle and are on the lookout for additional office and multifamily investment and development opportunities in this and other dynamic markets.”
The sale of 2635 Meridian Parkway is Northridge Capital’s second investment in North Carolina in three months. In May, it closed a debt financing round and broke ground on the Liberty Warehouse project in the Central Park neighborhood of downtown Durham.
Scot Humphrey, Chris Norvell, SIOR, Justin Good and Bill Simerville of Cushman & Wakefield | Thalhimer’s Capital Markets Group represented Northridge Capital in the sale.
About Northridge Capital
Northridge Capital, LLC, is an independent real estate asset management firm that has invested in more than 40 assets on behalf of investors, with a combined acquisition value of approximately $800 million. Based in Washington, D.C. since its founding in 1997, the company focuses on generating superior risk-adjusted returns for international high net-worth individuals and institutions. It acquires, manages and sells real estate assets across a wide variety of property types and geographic areas.