Updated Aug 21, 2025
CGN Global Acquires 75,000 SF Office Building In Raleigh, NC From Pinnacle Financial Partners For $24.31M
3515 Glenwood Avenue Raleigh, North Carolina 27612, USA
$24,310,000
$324/SF
Building Size
75,000 SF
Asset Type
Office
Closing
Jul 7, 2023
About this deal
AI
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.
On the Map
$24,310,000
$324/SF
Office
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Players
Raleigh Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93