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Lightstone Acquires 92,000 SF Life Sciences Portfolio In Morrisville And Cary For $9M

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SOLD
$9,000,000

North Carolina

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Life Sciences184,000 SF
Sold 09/04/2025
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SOLD

Lightstone Acquires 92,000 SF Life Sciences Portfolio In Morrisville And Cary For $9M

3500 Paramount Parkway & 3000 Weston Parkway

See Similar Deals
Life Sciences184,000 SF
Sold 09/04/2025
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Life Sciences
Price Per Square Foot:$48
Total Square Footage:184,000 SF
Transaction Type:Sale

Lightstone has acquired a life sciences portfolio consisting of two properties located at 3500 Paramount Parkway and 3000 Weston Parkway in Morrisville and Cary, NC. The total sale price for the 92,000 square feet asset reached $9,000,000, translating to a price per square foot of $98.

Summary of transaction details:

  • Property Type: Life Sciences
  • Transaction Amount: $9,000,000
  • Square Footage: 92,000
  • Address: 3500 Paramount Parkway & 3000 Weston Parkway
  • Market: Morrisville & Cary, NC
  • Price Per Square Foot: $98
  • Buyer: Lightstone
  • Brokers: David Finger & Alban Barrus - Cushman & Wakefield

The transaction enhances Lightstone's investment in the Raleigh-Durham Research Triangle, increasing its total local investment this year to nearly $100 million. David Finger and Alban Barrus from Cushman & Wakefield represented the transaction, contributing to the successful deal completion in the life sciences sector.

Players

Cushman & Wakefield
Cushman & Wakefield
BROKERAGE
Alban Barrus
Cushman & Wakefield
Alban Barrus
1 deal$9M volume(919) 205-5554
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE
Lightstone Group
Lightstone Group
BUYER

Details

SOLD
IMAGE: 09/04/2025 ADDRESS: 3500 Paramount Parkway & 3000 Weston Parkway MARKET: Morrisville & Cary, NC ASSET TYPE: Life Sciences BUYER: Lightstone BROKERS: David Finger & Alban Barrus - Cushman & Wakefield SALE PRICE: $9,000,000 SF: 92,000 ~ PPSF: $98 NOTE: Lightstone acquired a 92,000 s/f life science portfolio in the Raleigh-Durham Research Triangle for ~$9M, boosting its total local investment this year to nearly $100M.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10