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DRA Advisors Acquires Forty540 II Office Building In Morrisville NC For $45.5M
SOLD
$45,500,000
North Carolina
See Similar DealsOffice198,424 SF
Sold 02/05/2026
SOLD
DRA Advisors Acquires Forty540 II Office Building In Morrisville NC For $45.5M
710 Slater Road
See Similar DealsOffice198,424 SF
Sold 02/05/2026
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$229
Total Square Footage:198,424 SF
Transaction Type:Sale
DRA Advisors acquired the 198,424-square-foot office property located at 710 Slater Road in Morrisville, NC, for $45.5 million. The property, known as Forty540 II, is predominantly leased, with 94.6% of its space occupied by Renesas Electronics, reflecting a price per square foot of $229.31.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,500,000
- Buyer: DRA Advisors
- Seller: FCP
- Sale Date: 02/05/2026
- Square Footage: 198,424
- Price Per Square Foot: $229
- Leased Percentage: 94.6%
This transaction marks DRA Advisors' second acquisition in the Triangle area in 2026, following their earlier purchase of the Crestline Cary apartments in Cary, NC, for $60.85 million, showcasing their continued investment strategy in the region.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,426,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$161,651.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$215,693.21
Annual Debt Service$2,588,318.56
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