Lionstone Investments announced that it has sold Midtown Plaza, a fully leased, class AA office building located in Raleigh, N.C.
JLL marketed the property on behalf of the seller.
Completed in 2017, Midtown Plaza is a 329,747-square-foot, 12-story office building that is fully leased. The property features a diverse and stable rent roll, boasting esteemed tenants such as Altera, Gilead Sciences and Fifth Third Bank, contributing to a weighted average lease term of six years.
Midtown Plaza is situated in North Hills, a premier live-work-play destination in Raleigh, at the intersection of the Innovation District and Park District. The property benefits from its proximity to a neighborhood filled with high-end restaurants, shops, fitness centers, and a large concentration of multifamily and residential units.
