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2316 Atlantic Avenue

LEASEDOffice

Swinerton Signs 10,180 Square Foot Lease At Salvage Yard In Raleigh With JLL Representation

2316 Atlantic Avenue

Building Size

10,180 SF

Asset Type

Office

Closing

Aug 21, 2026

AI

The asset involved in this lease transaction is an office space measuring 10,180 square feet, located at 2316 Atlantic Avenue in Raleigh, NC. This property is part of the Salvage Yard, an adaptive-reuse mixed-use development.

Summary of transaction details:

Swinerton Builders has signed a lease to occupy the office space, with plans to move in during Q2 2027 as part of its expansion in the Raleigh area. The brokerage firm JLL, represented by Matt Winters, Michael Sharapata, and Seton Sloan, facilitated the transaction for Swinerton Builders.

Players

Matt Winters

JLL

Broker

$9.3M

vol

2 deals

Broker
Gordon Grubb

Gordon Grubb

Grubb Ventures

Landlord
Landlord

dave callis

Swinerton

Tenant
Tenant

Avenue Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93