NAI Carolantic Realty President Jimmy Barnes, SIOR Represented JPB Holdings in the Purchase of Northchase Executive Center for $39.75M
Raleigh, North Carolina – (July 26, 2019) – NAI Carolantic Realty, the Triangle’s leading commercial real estate firm, represented a Utah-based investor in the purchase of the Northchase Executive Center, located at 6601 Six Forks Road.
Jimmy Barnes, SIOR, NAI Carolantic Realty’s President, represented the buyer, JPB Raleigh Holdings in the $39.75 million transaction, capping off more than $100 million in sales and lease volume and 48 transactions for the firm in the last 60 days.
“We are excited to continue to partner with JPB Holdings and represent them as they grow their portfolio in the Triangle,” said Barnes. “Northchase represents a core asset for them and a great fit in their existing ownership of Class A office and flex buildings throughout the Triangle.”
Built in the mid-1980s, Northchase Executive Center consists of two Class A office buildings with 176,620 square feet of space. Previous owners of the property invested more than $14M in capital improvements and renovations. The buildings are currently 95.6% leased.
About NAI Carolantic Realty
NAI Carolantic is the area’s leading commercial real estate firm with 16 brokers, a full-service property management division, and an experienced marketing and research division. Established in 1972, NAI Carolantic is a local office of NAI Global, one of the largest real estate service providers worldwide. NAI has over 6,000 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.