• Multiple Addresses, Greensboro, NC 27407

For Sale

Office

For Sale

This property is available for sale
32.0
Acres
Negotiable
Sale Price
  • Year Built
    1976
  • Total Building Size
    446,609 RSF
  • Overview

    Eastdil Secured, SVN and and RealINSIGHT Marketplace are pleased to offer for sale the Greensboro Office Portfolio, an efficiently concentrated, 11-asset office campus located within the Piedmont Triad (the "Portfolio"). The Portfolio consists of 446,611 SF of office space across 32 acres of land with an average in-place occupancy of 46.3%. The Greensboro Office Portfolio is situated within the burgeoning West Greensboro submarket offering direct access to I-40, West Gate City Blvd, and South Holden Rd, and is just minutes away from the area’s top retail and restaurant options. With in-place rents at 16.7% below market rental rates, this value-add opportunity has the ability to generate immediate returns via lease-up of the remaining available space and the completion of various capital expenditure initiatives—several of which the Seller has already begun. Significantly, the Portfolio presents an opportunity to acquire controlling majority interest in the West Greensboro office market and capitalize on operational efficiencies attributed to the scale. Investment Highlights -Motivated Seller & Low-Cost Basis—Pricing expected at a substantial discount to replacement cost. -Rare critical mass—The 32 acres of land is suitable for a mixed-use of office, retail, or multifamily components in a location where acquisition opportunities are exceedingly scarce. -Value-Add Upside with The Ability Produce Immediate Returns – Opportunity to significantly lift to cash flow as 20% of the in-place leases expire within the first year and are largely at below-market rates. -Irreplaceable Location In Strategic Corridor – Just off of I-40, South Holden Road, and West Gate Boulevard. -Minutes from Four Seasons Town Centre—The area’s most popular destination for a variety of restaurants, fitness centers, daycares, hotels, retail, and shopping options

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Property Details

*Auction* Greensboro Office Portfolio : Value-Add Investment Opportunity (11 Buildings)

Eastdil Secured, SVN and and RealINSIGHT Marketplace are pleased to offer for sale the Greensboro Office Portfolio, an efficiently concentrated, 11-asset office campus located within the Piedmont Triad (the "Portfolio"). The Portfolio consists of 446,611 SF of office space across 32 acres of land with an average in-place occupancy of 46.3%. The Greensboro Office Portfolio is situated within the burgeoning West Greensboro submarket offering direct access to I-40, West Gate City Blvd, and South Holden Rd, and is just minutes away from the area’s top retail and restaurant options. With in-place rents at 16.7% below market rental rates, this value-add opportunity has the ability to generate immediate returns via lease-up of the remaining available space and the completion of various capital expenditure initiatives—several of which the Seller has already begun. Significantly, the Portfolio presents an opportunity to acquire controlling majority interest in the West Greensboro office market and capitalize on operational efficiencies attributed to the scale. Investment Highlights -Motivated Seller & Low-Cost Basis—Pricing expected at a substantial discount to replacement cost. -Rare critical mass—The 32 acres of land is suitable for a mixed-use of office, retail, or multifamily components in a location where acquisition opportunities are exceedingly scarce. -Value-Add Upside with The Ability Produce Immediate Returns – Opportunity to significantly lift to cash flow as 20% of the in-place leases expire within the first year and are largely at below-market rates. -Irreplaceable Location In Strategic Corridor – Just off of I-40, South Holden Road, and West Gate Boulevard. -Minutes from Four Seasons Town Centre—The area’s most popular destination for a variety of restaurants, fitness centers, daycares, hotels, retail, and shopping options

  • Property Type
    Office
  • Submarket
  • Year Built
    1976
  • Total Building Size
    446,609RSF
  • Total Acres
    32.0
  • Building Class
    B
  • Sale Status
    Available
  • Property ID
    2166786

Landlord's Sales Representatives

  • Jay Taylor, CCIM
    Sperry Van Ness
     
  • deborah.bierach@svn.com