A Raleigh commercial real-estate developer has spent $24.8 million to purchase six prominent office properties within High Point’s Piedmont Centre complex.
The deal closed Tuesday, according to a Guilford County Register of Deeds filing Friday.
The buyer, BV DRP Mendenhall Owner LLC, is an affiliate of Dominion Realty Partners of Raleigh. The seller is LSOP NC LLC, an affiliate of Greenfield Partners, a private-equity realty investment firm based in Westpoint, Conn.
According to the portfolio listing on its website, the High Point office properties appear to be Dominion’s only real-estate investment in the Triad.
The properties are 4050 Piedmont Parkway, 4015 Meeting Way and 4100, 4135, 4194 and 4196 Mendenhall Oaks Parkway.
The combined portfolio contains 386,844 square feet of office space, led by 220,562 square feet at 4050 Piedmont, which is anchored by an Aetna customer service center.
The remaining buildings range from 19,647 square feet to 55,250 square feet.
Other anchor tenants within the portfolio are CoreLogic, NorthState Communications and Paychex, according to CBRE Triad.
“We’re planning to inject some capital and make improvements in the buildings to make them more attractive to filling vacancies,” said Jason Hull, an analyst with Dominion.
“We definitely like the Triad office market and will look at other opportunities as they come up, particularly in areas where there is good population and retail growth to support office campuses.”
Dominion’s portfolio of multi-use, office and residential properties primarily are in the Southeast.
Recent projects including the F.N.B. Tower in uptown Charlotte and downtown Raleigh, the 315,919-square-foot Synergy Business Park in Columbia, S.C., and a 209,000-square-foot office building in west Raleigh.