Two Durham industrial buildings near Research Triangle Park have been sold as a package deal for $35 million.
The 245,000 square-foot Tech Distribution Center on T.W. Alexander Drive and the 203,385 square-foot Tri-Center North V on Tri-Center Boulevard were acquired by Principal Real Estate Investors, a Des Moines, Iowa, company that manages or advises on $69.9 billion in commercial real estate assets. Officials at Principal Real Estate couldn’t be reached for comment.
The seller was Philadelphia-based Stoltz Real Estate Partners.
Both the buildings are 100-percent-leased, Class A industrial buildings.
The sale was announced Tuesday by Holliday Fenoglio Fowler, which represented the seller in the transaction.