CGN Global Acquires 75,000 SF Office Building In Raleigh, NC From Pinnacle Financial Partners For $24.31M | 3515 Glenwood Avenue | Office | Sale

Summary

Sale

NORTH CAROLINA

Office

75,000 sqft

An office building located at 3515 Glenwood Avenue in Raleigh, North Carolina, has been sold by Pinnacle Financial Partners for a price of $24.31 million. The property spans approximately 75,000 square feet, resulting in a price per square foot of $324.

Summary of transaction details

Property Type: Office
Sale Price: $24,310,000
Square Footage: 75,000

The buyer of the office building is CGN Global. In a unique arrangement, CGN Global plans to lease the entire building back to Pinnacle Financial Partners for a term of 14.5 years. No major changes are expected for the existing tenants, which include Triangle Business Journal and other companies.

Details

Deal Summary

SOLD

IMAGE: 07/07/2023 ADDRESS: 3515 Glenwood Avenue MARKET: Raleigh, NC ASSET TYPE: Office BUYER: CGN Global SELLER: Pinnacle Financial Partners SALE PRICE: $24,310,000 SF: 75,000 ~ PPSF: $324 NOTE: Pinnacle Financial Partners has sold an office building in Raleigh, North Carolina, that houses Triangle Business Journal and other tenants, for $24.31 million. The buyer, CGN Global, plans to lease the entire building back to Pinnacle for a term of 14.5 years, and no major changes are expected for the existing tenants.

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Address3515 Glenwood Avenue

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