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CityPlat And Good Harbor Commercial Real Estate Purchase Parkwest Office Campus In Cary For $3.1M
SOLD
$3,100,000
North Carolina
See Similar DealsOffice
Sold 04/16/2026
SOLD
CityPlat And Good Harbor Commercial Real Estate Purchase Parkwest Office Campus In Cary For $3.1M
15401 Weston Parkway
See Similar DealsOffice
Sold 04/16/2026
Summary
NORTH CAROLINA
Asset Type:Office
Transaction Type:Sale
The asset involved in this transaction is an office property located at 15401 Weston Parkway in Cary, NC. The sale was concluded at a price of $3,100,000. This transaction highlights a significant decrease from the seller's previous investment in the property, which was acquired for $10.3 million in 2017.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,100,000
- Buyer: CityPlat & Good Harbor Commercial Real Estate
- Seller: Adler Real Estate Partners
- Market: Cary, NC
- Date of Sale: 04/16/2026
CityPlat acted in a joint venture with Good Harbor Commercial Real Estate to execute the purchase of the Parkwest office campus, indicating a collaborative effort in the real estate market. Adler Real Estate Partners was the seller in this transaction, having previously acquired the property in 2017.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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