H.M.S. II Associates sold a facility at 2111 Harrod St. in Raleigh, NC, to a private investor for $2.91 million, or about $55 per square foot.
The 52,275-square-foot industrial building was constructed in 1990 and has six loading docks, two drive-in bays and more than 50 surface parking spaces. The property was partially leased and was available for owner-occupancy. The buyer plans to relocate his business, also known as Virtual Exchanges Inc., and occupy the building by this summer.
Avison Young represented the seller and Cohen Properties Inc. represented the buyer.
Please see CoStar COMPS #2683465 for more information on this transaction.