Highwoods Properties Sells Office Building In Raleigh To Duy Khuong Ong For $11M

Highwoods Properties has sold a local office building located at 5000 Falls of Neuse Road in Raleigh. The property, measuring 75,246 square feet, was sold for $11 million, resulting in a price per square foot of $146. The transaction took place on June 30, 2023. The buyer of the office building was Duy Khuong Ong.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $11,000,000
• Square Feet: 75,246
• Price Per Square Foot: $146
• Address: 5000 Falls of Neuse Road, Raleigh, NC
• Market: Raleigh, NC

This sale is part of Highwoods Properties' strategy to fund new projects. Through the transaction, Highwoods Properties has successfully generated funds to support its future endeavors.