Raleigh Announces Sale of Crescent Green in Cary, NC

PRESS RELEASE
Part of the CBRE affiliate network
4208 Six Forks Road
Suite 1220
Raleigh, NC 27609
919 831 8200 Tel
919 856 2530 Fax
FOR IMMEDIATE RELEASE Tom Fritsch
Managing Director
CBRE|Raleigh
919.831.8200
[email protected]
Deb Thaxton
Corporate Communications Director
CBRE|Hampton Roads
757.490.3300
[email protected]
CBRE|Raleigh Announces Sale of Crescent Green in Cary, NC
Raleigh, NC – March 24, 2014 – CBRE|Raleigh is pleased to announce KBS Capital Advisors,
LLC has sold Crescent Green, a three building, Class A office development to Grupo Haddad.
The 248,823 SF portfolio is located at 1100, 1200 and 1300 Crescent Green Drive in Cary,
NC.
Strategically located at the intersection of US 1 and US 64 in the affluent Cary submarket,
Crescent Green offers institutional quality construction, tremendous accessibility and an above
market parking ratio. Crescent Green consists of three Class A office buildings situated on 24.4
acres including a 2-story parking deck. The assets are within walking distance of a Life Time
Fitness, Harris Teeter and the WakeMed Cary Hospital - one of two WakeMed hospitals
servicing the Raleigh area.
Crescent Green is 99% leased and anchored by Xerox, and its Xerox Services’ division. Xerox
(NYSE: XRX) has approximately 62% of the buildings’ square footage under lease. This location
serves as a key location for the Xerox Services unit, providing back office support for 7 wellknown clients including Sprint, Aetna, Humana, and IBC.
Ben Kilgore of CBRE|Raleigh represented the seller, KBS Capital Advisors, LLC in the
transaction.
CBRE Press Release
About CBRE | Raleigh
CBRE|Raleigh is a CBRE office serving the Triangle region and is a joint venture of local principles along with
CBRE Group, Inc. The firm assists real estate owners, investors and occupiers by offering strategic advice and
execution for property leasing and sales; property, facilities and project management; corporate services; debt and
equity financing; investment management; valuation and appraisal; research and investment strategy; and
consulting. In 2013, the Raleigh office completed $771 million of sales and leasing transactions.
About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville,
and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the MidSouth region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed
$1.53 billion of sales and leasing transactions in 2013.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the
world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has
approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers
through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for
property sales and leasing; corporate services; property, facilities and project management; mortgage banking;
appraisal and valuation; development services; investment management; and research and consulting. Please visit
our website at www.cbre.com.
CBRE Press Release
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