Press Releases

JPB Raleigh Holdings Acquires 2530 Meridian Parkway Office Building

RALEIGH, NC – February 12, 2016 – JPB Raleigh Holdings, LLC, headquartered in Rochester, New York, recently acquired the 2530 Meridian Parkway office building prominently located in the prestigious Meridian Business Park at I-40 and Hwy 55 in Durham. The Class A office building totaling 104,400 rentable square feet is 80% leased and is home to Regus Executive Suites and the RTP offices of Womble Carlyle Sandridge & Rice.

JPB Holdings Managing Partner, John Buchheit cites the strength of the overall Triangle market and the I-40 corridor office market as primary factors for purchasing the building. He indicated the strong credit tenants, quality of the asset, and the Meridian Business Campus were factors as well. Mr. Buchheit plans to upgrade the building common area finishes and improve the building site landscaping.

This is the third Class A property acquired by JPB Holdings in the last 12 months. Mr. Buchheit commented 2530 Meridian fits well into their existing and growing portfolio as it is a quality asset in a strong, proven submarket.

According to NAI Carolantic President Jimmy Barnes, SIOR, JPB Holdings, LLC plans to acquire other office and flex buildings in the Triangle area to add to their real estate portfolio. Barnes, and NAI Carolantic Broker, Whit Brown represented JPB Holdings in the transaction. CBRE represented the owner, Meridian Operating Associates, LP. Financing was provided by RGA Reinsurance Group through Spencer Wilson at Q10 Professional Mortgage of NC in Raleigh.

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NAI Carolantic is the area’s leading commercial real estate firm with eighteen brokers, a full-service property management division, as well as an experienced marketing and research division. Established in 1972, NAI Carolantic is a member firm of NAI Global, the world’s premier network of commercial real estate firms and one of the largest real estate service providers worldwide. NAI has over 6,700 real estate professionals in over 375 offices around the world with regional management, global infrastructure, best practices and technology to provide clients with consistent, quality results.