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Transactions - AUGUST 26, 2020

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Alexandria Real Estate Equities pays $590m for acres in Research Triangle Park

by Andrea Zander

Alexandria Real Estate Equities has acquired 253.11 acres at Parmer RTP, a region in the Piedmont of North Carolina in the United States,  for $590.4 million, reported Triangle Business Journal.

The seller was Karlin Real Estate.

Parmer RTP is one of the largest assemblages in Research Triangle Park featuring an R&D campus with 20 buildings. It is anchored by three major research universities: North Carolina State University, Duke University and University of North Carolina at Chapel Hill, as well as the cities of Raleigh and Durham and the town of Chapel Hill.

The purchase includes seven parcels located at 14 TW Alexander Drive, 5 Moore Drive, 41 Moore Drive, two at 1818 Ellis Road and two at 2400 Ellis Road.

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