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Novartis Acquires 45-Acre Office Site In Durham From Alexandria Real Estate For $155M
SOLD
$155,000,000
North Carolina
See Similar DealsOffice270,051 SF
Sold 11/25/2025
SOLD
Novartis Acquires 45-Acre Office Site In Durham From Alexandria Real Estate For $155M
14 T.W. Alexander Drive
See Similar DealsOffice270,051 SF
Sold 11/25/2025
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$574
Total Square Footage:270,051 SF
Transaction Type:Sale
An office asset located at 14 T.W. Alexander Drive in Durham, NC, covering 45 acres was sold for $155,000,000. The property features a total square footage of 270,051 and has a price per square foot of $574.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $155,000,000
- Address: 14 T.W. Alexander Drive
- Market: Durham, NC
- Acres: 45
- Square Feet: 270,051
- Price per Square Foot: $574
- Buyer: Vasant Narasimhan - Novartis
- Seller: Peter M. Moglia - Alexandria Real Estate Equities Inc
Vasant Narasimhan represented Novartis in the acquisition from Peter M. Moglia, who represented Alexandria Real Estate Equities Inc. Novartis intends to develop a regional flagship manufacturing hub on the site.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$550,682.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$734,779.08
Annual Debt Service$8,817,348.93
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