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3100 Tower Boulevard

Updated Sep 30, 2025

GM 150 LLC Acquires University Tower Office Building In Durham From Dilweg For $12M
SOLDOffice

GM 150 LLC Acquires University Tower Office Building In Durham From Dilweg For $12M

3100 Tower Boulevard

$12,000,000

$64/SF

Building Size

185,978 SF

Asset Type

Office

Closing

Sep 26, 2025

About this deal

AI

The property asset involved in this transaction is the University Tower, an office building located at 3100 Tower Boulevard, Durham, NC. The sale price for the property was $12,000,000, covering a total area of 185,978 square feet. The price per square foot stands at $65. The building, a 17-story structure, is currently 33% leased, with Duke Health serving as the anchor tenant. Originally listed at $18 million, the property was relisted at a reduced price following a failed residential conversion deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $12,000,000
  • Buyer: GM 150 LLC
  • Seller: Dilweg
  • Square Footage: 185,978
  • Price per Square Foot: $65
  • Location: 3100 Tower Boulevard, Durham, NC
  • Market: Durham, NC
  • Occupancy: 33% leased
  • Anchor Tenant: Duke Health

The key individuals involved in the deal include Gent Hito, the CEO of /n software, who leads GM 150 LLC. The seller, Dilweg, executed this transaction as part of their real estate portfolio management.

On the Map

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$12,000,000

$64/SF

Office

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Players

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DilwegSeller

Durham Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $64 per square foot on a published $12M for 185,978 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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