Updated Oct 17, 2025
Edgewater Ventures Acquires Office Building At 601 Keystone Park Drive For $25 Million
601 Keystone Park Drive
$25,000,000
$323/SF
Building Size
77,395 SF
Asset Type
Office
Closing
Oct 16, 2025
About this deal
AI
601 Keystone Park Drive is a flex office building located in Morrisville, NC. The property comprises 77,395 square feet and was sold for $25 million, equating to $323.02 per square foot. The building was constructed in 2001 and renovated in 2009 and is part of the Morrisville market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $25,000,000
- Buyer: Edgewater Ventures
- Seller: Alexandria Real Estate Equities Inc
- Square Footage: 77,395
- Price Per Square Foot: $323.02
- Date of Sale: 10/16/2025
Eastdil Secured acted as the broker for this transaction, facilitating the sale from Alexandria Real Estate Equities Inc, which had owned the property since 2006.
On the Map
$25,000,000
$323/SF
Office
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Morrisville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93