Trinity Partners is pleased to announce the sale of 7048 Knightdale Boulevard. The 12,992 SF multi-tenant office building in Knightdale, west of Raleigh, sold for $1.3 million to a local private investor represented by John Hargrove of ERA Parrish Realty Legacy Group.
Trinity Partners’ Mark Alviano and Mike Eberle, represented the undisclosed seller, who owned the property for 25 years. The building was 100% occupied at the time of sale — a result Trinity Partners’ Esther Austin’s leasing success (Director, Office Leasing).
“In the Northwest Wake County submarket, office building occupancy has been consistently 2% to 4% higher than the overall Triangle market since 2012,” noted Alviano, Director, Investment Sales at Trinity Partners. “That strong market demand together with the quality fundamentals and ideal location made this stabilized office building an attractive investment opportunity.”
7048 Knightdale Boulevard sits one mile east of Interstate 540 at Knightdale Boulevard and Business Route 64, surrounded by multiple retail and service amenities, most notably the Shoppes of Midway Plantation. The complementary mix of professional tenants are supported by significant consumer growth from on-going area residential developments such as Wendell Falls, Knightdale Station and 5401 North.