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Adler Kawa Closes on Pair of Triangle Office Parks

Highwoods Properties Sells Situs and ParkWest
October 19, 2017
Adler Kawa Real Estate Advisors (AKREA), a Miami-based real estate investment company that targets office and industrial properties throughout the Southeast U.S., acquired two office parks totaling 251,465 square feet in the Triangle area of Raleigh, NC from local firm Highwoods Properties.

The three-building Situs Office Park totals 156,665 square feet next to the I-440/I-40 interchange at 1100, 1121 and 1130 Situs Ct. in West Raleigh. The complex is 89.7% leased to a tenant roll that includes Circle K Convenient Stores, GSA, Millennial Patient Services and Ameriprise.

The ParkWest Office Park consists of two single-story buildings totaling 94,800 square feet on 13 acres off Weston Pky. Currently 85.5% leased, ParkWest is home to the U.S. headquarters of Arysta Lifesciences, and also houses locations for Informatica and Ignite Social Media, among others.

AKREA has hired the investor leasing team at CBRE Raleigh, led by Lee Clyburn and Brian Carr, to handle leasing responsibilities for Situs and ParkWest moving forward.

Ben Kilgore, Jim McMillan, Elliot Brewer and Leslie Holmes of CBRE|Raleigh represented Highwoods Properties in the sale.

Please see CoStar COMP #4011107 for more information on this transaction.
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