Business

Durham industrial buildings sold for $35 million

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.

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