Updated Dec 4, 2025
Novartis Acquires 45-Acre Office Site In Durham From Alexandria Real Estate For $155M
14 T.W. Alexander Drive
$155,000,000
$574/SF
Building Size
270,051 SF
Asset Type
Office
Closing
Nov 25, 2025
About this deal
AI
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.
Players
Durham Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93