Updated Dec 4, 2024
United Therapeutics Corp Acquires Life Sciences Facility In Durham From Oxford Properties Group For $33M
78 T.W. Alexander Drive
$33,000,000
$345/SF
Building Size
95,500 SF
Asset Type
Life Sciences
Closing
Oct 25, 2024
About this deal
AI
The transaction involved a life sciences asset located at 78 T.W. Alexander Drive in Durham, NC. The sale price for this property was $33,000,000, and it comprises a total area of 95,500 square feet, resulting in a price per square foot of $346. The asset is situated within the Research Triangle Park, a notable region for biomanufacturing facilities.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $33,000,000
- Address: 78 T.W. Alexander Drive
- Market: Durham, NC
- Square Footage: 95,500
- Price per Square Foot: $346
- Buyer: United Therapeutics Corp
- Seller: Oxford Properties Group
The brokers representing the deal were Ann-Stewart Patterson from CBRE and John Hogan. Their efforts facilitated the acquisition, with United Therapeutics Corp planning to occupy the facility following the transaction.
Players
Durham Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93