Transactions - JANUARY 13, 2022

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Keystone Corp. sells three-property office portfolio in Raleigh-Durham

by Released

Keystone Corp. has sold Palisades I, II and III, a three-property office portfolio totaling 327,540 square feet in Raleigh-Durham, N.C., for $87.5 million.

JLL represented the seller and procured the buyer.

Palisades I, II and III comprises two Class A office properties that were built in 2001 and 2005 paired with a brand-new, best-in-class office building delivered in 2021. Palisades I and II are 79.1% leased to a mix of local, regional and international firms across a variety of industries, while Palisades III is available for lease-up. The properties offer a market-leading amenity package featuring a sky terrace patio, structured parking, a café, tenant lounge, conference center and fitness center.

Positioned at 5400 and 5410 Trinity Rd, and 1501 Nowell Rd, Palisades I, II and III are in the heart of the Urban West Raleigh submarket. The properties are just north of Interstate 40 providing regional connectivity to Interstates 440 and 64 and are within an eas

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