KBS Capital Advisors sold The Crescent Green, a three-building office park in Cary, NC, for $37.57 million, or about $151 per square foot.
1100, 1200 and 1300 Crescent Green Dr. were constructed in the late 1990s and total 248,820 square feet. The Class A development sits on 24.4 acres and includes a two-story parking deck. Crescent Green is anchored by Xerox and its Xerox Services' division, which combined occupy approximately 62% of the buildings' square footage. At the time of sale, the complex was 99% leased.
Ben Kilgore of CBRE represented KBS Capital Advisors in the transaction.
Please see CoStar COMP #2948045 for more information.