Transactions - JANUARY 12, 2022

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Thor Equities sells life sciences campus in North Carolina for $80m

by Andrea Zander

Thor Equities has sold The Labs at Research Triangle Park, a 72-acre, multi-building life sciences complex within North Carolina’s renowned Raleigh-Durham Research Triangle, for $80 million.

The new owner is Alexandria Real Estate Equities.

Thor Equities acquired the asset in 2020 for $20.5 million.

Triangle Park campus includes six existing properties totaling 69,059 square feet and has more than 300,000 square feet of additional development rights. Tenants include AgBiome, an agricultural innovation company.

The Research Triangle Park’s central location ties together three major North Carolina universities: Duke University in Durham, University of North Carolina in Chapel Hill and North Carolina State University in Raleigh.

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