KBS sells tower in Raleigh
Transactions - JULY 26, 2019

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KBS sells tower in Raleigh

by Andrea Zander

KBS has sold CAPTRUST Tower to Preferred Office Properties. KBS initially purchased the property in 2013 in a joint venture with Kane Realty Corp., which will continue as a partner to Preferred Office Properties.

Originally built by Kane Realty Corp., CAPTRUST Tower is a fully leased, 300,389-square-foot, mixed-use class A office building anchoring North Hills, a flourishing development in Midtown Raleigh that offers a unique combination of places to live, work, shop, play and stay. Within the building are nine stories of class A office space atop a six-level parking deck with street-level retail and restaurants on the ground floor. At 230 feet tall, CAPTRUST Tower offers views of Raleigh’s Downtown and Midtown skylines from every floor. CAPTRUST Tower received LEED Gold certification from the U.S. Green Building Council.

North Hills is a multi-faceted district offering tenants access to four-star hotels, banks, pharmacies, spas, salons and a state-of-the-art 60,000-

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