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Pergament Properties Acquires Office Building From TriGate Capital In Raleigh For $5.7M

Property Image
SOLD
$5,700,000

North Carolina

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Office75,276 SF
Sold 04/24/2025
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Property Image
SOLD

Pergament Properties Acquires Office Building From TriGate Capital In Raleigh For $5.7M

5565 Centerview Drive

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Office75,276 SF
Sold 04/24/2025
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$75
Total Square Footage:75,276 SF
Transaction Type:Sale

A 75,276-square-foot office building located at 5565 Centerview Drive in Raleigh, NC was sold for $5.7 million. This transaction reflects a price per square foot of $76, and marks a significant difference compared to the amount paid by the seller in 2020.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,700,000
  • Address: 5565 Centerview Drive
  • Market: Raleigh, NC
  • Asset Size: 75,276 SF
  • Price Per Square Foot: $76
  • Buyer: Pergament Properties
  • Seller: TriGate Capital
  • Broker: Judson McMillan - York Properties

Pergament Properties acquired the property from TriGate Capital, with Judson McMillan of York Properties representing the seller in this transaction. The deal was finalized on April 24, 2025.

Players

Judson McMillan
York Properties
Judson McMillan
2 deals$27.1M volume(919) 645-2764
BROKER
TC
TriGate Capital
SELLER

Details

SOLD
IMAGE: 04/24/2025 ADDRESS: 5565 Centerview Drive MARKET: Raleigh, NC ASSET TYPE: Office BUYER: Pergament Properties SELLER: TriGate Capital BROKER: Judson McMillan - York Properties SALE PRICE: $5,700,000 SF: 75,276 ~ PPSF: $76 NOTE: Pergament Properties bought a 75,276-square-foot office building in west Raleigh for $5.7 million, about half the price TriGate Capital paid in 2020.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90