Nov
26

Winston-Salem Office Building Sold for $9.85 Million

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Winston-Salem-based brokerage Linville | Team Partners and Lexington-based Carolina Investment Properties have joined forces to create a private equity fund called Front Street Capital. The fund is raising and deploying capital to buy Class A commercial real estate assets across several markets, said Coleman Team, the “Team” in Linville | Team Partners and son of Robin Team, president of Carolina Investment Properties.

Front Street Capital’s first asset is 101 S. Stratford Road, a 75,000-square-foot corporate office building located at the Five Points intersection in Winston-Salem.

Front Street-Stratford LLC, an entity owned by Front Street Capital, purchased the building on Nov. 20 for $9.85 million, according to a Forsyth County special warranty deed. The seller was Raleigh-based Highwoods Properties (NYSE: HIW), which was represented by brokerage CBRE in the deal.

The building is 95 percent occupied by tenants including Essent Guaranty, Triad Guaranty, Stephens Inc. and SunTrust Bank, according to Linville | Team Partners.

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Categories : Winston-Salem

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