Adding nearly 150,000 square feet to its Southeast portfolio, Ridgewood, NJ-based investment firm Heritage Capital Group purchased Six Forks Square in Raleigh, NC from RP Realty Partners for $12.4 million, or approximately $81 per square foot.
Six Forks Square is a four-building office park that delivered in the early 1980's at the northwest corner of the Six Forks Rd. and E. Millbrook Rd. intersection in Raleigh's Glenwood/Creedmoor submarket.
The three-story buildings are each fully occupied by the State of North Carolina Department of Health and Human Services.
Scot Humphrey, Justin Good and Chris Norvell of Cushman & Wakefield Thalhimer's capital markets group, along with Greg Sanchez of Tri Properties, engineered the transaction on behalf of RP Realty Partners, which acquired the office park back in 2008 for slightly less than $14 million.
Please see CoStar Comp #1512946 for more information on the transaction.