The Wells Fargo office park in West Raleigh has been bought by a Florida real estate company for $42.3 million, according to property records.
Oaktree and NFR bought the property in 2013. It was part of a portfolio of 40 office buildings the partnership acquired for $240 million from First States Investors.
Ninety percent of the 3.4 million-square-foot portfolio was leased to Wells Fargo at the time of the sale. The largest share of the portfolio was in North with eight buildings totaling 1.2 million square feet.
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The West Raleigh office park includes 450,000 square feet and is Wells Fargo’s regional operations center.
Publicly-traded Consolidated-Tomoka owns properties across the country as well as more than 10,500 acres of land in the Daytona Beach area.