Stotz Real Estate Partners, a real estate investment and services company headquartered in Bala Cynwyd, PA, purchased the Research Tri-Center North V building in Durham, NC from The Silverman Group for slightly more than $12.48 million, or about $61 per square foot.
The 203,385-square-foot distribution facility was constructed in 1989 on nearly 15 acres within the Tri-Center North industrial park. The multi-tenant complex is 100% leased to a tenant roster that includes West Logistics, RoadTex Transportation and WalMart Stores East, according to CoStar information.
Chris Norvell, Scot Humphrey, Jackson Rives and Bill Simerville represented The Silverman Group in negotiations.
Please see CoStar Comp #3046340 for more information on the transaction.