California Investor Spends $590 Million to Expand Footprint in Research Triangle Park

first_img Your email address will not be published. Required fields are marked * Subscribe Alexandria Real Estate Equities Inc., a Pasadena-based real estate investment trust that invests in office buildings and laboratories in the life science and technology industries, has acquired a large portion of the Research Triangle Park in Durham, North Carolina, said a report in the Raleigh, North Carolina-based Triangle Business Journal.The report, citing Durham County deed records, said Alexandria Real Estate closed on 253.11 acres at Parmer RTP for $590.4 million on Monday.The purchase includes seven parcels across three deed transfers with properties at 14 TW Alexander Drive, 5 Moore Drive, 41 Moore Drive, two at 1818 Ellis Road, and two at 2400 Ellis Road in Durham, the report said.The seller is Los Angeles-based Karlin Real Estate, which has been assembling land and developing the 500-acre campus for years, according to the Journal.Alexandria Real Estate already has extensive holdings in Research Triangle Park, which features an R-and-D campus with 20 buildings with tenants that include LabCorp and Credit Suisse.In April 2019, the company opened the Alexandria Center for AgTech-Research Triangle. The first phase, a 175,000 RSF (rentable-square-foot) redevelopment, opened fully-leased, with a second phase planned to open this year to offer 160,000 RSF.The Center sits on the former site of Syngenta on the 5 Laboratory Drive campus, which Alexandria acquired in 2017 for $8.75 million. Community News Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Darrel Done BusinessVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Herbeauty9 Of The Best Metabolism-Boosting Foods For Weight LossHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeauty11 Yummy Spices For A Flat TummyHerbeautyHerbeautyHerbeauty18 Ways To Get Rid Of HiccupsHerbeautyHerbeautyHerbeauty12 Female Fashion Trends That Guys Can’t StandHerbeautyHerbeauty Name (required)  Mail (required) (not be published)  Website  CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Top of the News center_img Make a comment Business News STAFF REPORT First Heatwave Expected Next Week More Cool Stuff STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Business News California Investor Spends $590 Million to Expand Footprint in Research Triangle Park By ANDY VITALICIO Published on Wednesday, August 26, 2020 | 3:34 pm 40 recommended0 commentsShareShareTweetSharePin it EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDSlast_img read more

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