Robert J. Schmier & Douglas R. Feurring Acquire Office Building In Raleigh For $26.75M

The property asset involved in the transaction is a 75,000-square-foot office building located at 3515 Glenwood Avenue in Raleigh, North Carolina. The sale price for this asset was $26,750,000, which corresponds to a price per square foot of approximately $356.67. The building is situated on 4.2 acres and is currently 66% leased, featuring tenants such as Pinnacle Bank, Raymond James, and Sterling Pillar.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $26,750,000
• Square Footage: 75,000
• Address: 3515 Glenwood Avenue
• Market: Raleigh, NC
• Acres: 4.2
• Buyer: Robert J. Schmier & Douglas R. Feurring - Schmier & Feurring Properties
• Seller: Harsh Koppula - CGN Global

The transaction involved Robert J. Schmier and Douglas R. Feurring representing Schmier & Feurring Properties in acquiring the office building from Harsh Koppula, who represented CGN Global. The property was noted to be 10 years old at the time of the sale.