Feb
24

Raleigh Headquarters Building Sold for $127 Million

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lenovoArzan Wealth Limited, a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, has announced that it has advised a consortium of investors on the $127 million acquisition of the global headquarters building of Lenovo’s Enterprise Server Division at Research Triangle Park, in Raleigh North Carolina, USA.

The 67 acre campus featuring a lake, nature preserve, jogging trails, and recreation area, includes two recently renovated office buildings totaling 445,484 sq ft and a 39,952 sq ft mixed-use office/ laboratory building currently under construction. The major renovations during 2014 involved an investment of more than $100 million by Lenovo and the seller.

The Property was originally developed in 1995 & 1998 for Ericsson, and has functioned as a recognized corporate center for nearly 20 years. The property is 100 per cent leased to Lenovo Inc. the operating entity for Lenovo Group Limited, under a 13 year triple-net lease agreement, with a 2.6 per cent fixed annual rent increase and two five year options to extend the lease.

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    Categories : Raleigh

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