Nuveen Real Estate has purchased 1100 Perimeter’s Edge, an 84,748-square-foot flex/R&D facility in the Raleigh-Durham area of North Carolina for $21.3 million.
Singerman Real Estate was the seller.
Originally built in 1990, 1100 Perimeter’s Edge is a single-story flex facility positioned on a 9.45-acre site. The property features flexible floorplates, four 8-foot by 8-foot loading docks and one 12-foot by 12-foot drive-in loading dock. 1100 Perimeter’s Edge is currently 97 percent leased to a mix of life sciences and STEM firms.
Located at 1100 Perimeter Park Drive, the property is part of Perimeter Park, a business park in Morrisville, N.C., with more than 3 million square feet of mixed-use space. The property is also adjacent to Research Triangle Park, the largest dedicated scientific research park in the country.
Raleigh-Durham is one of the top five life sciences clusters in the nation and is benefiting from robust corporate relocations and
