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Boston Buyers Invade the Triangle

DURHAM/RALEIGH, NC-Highwoods Properties Inc. has sold the four-building, 394,200-sf Triangle Business Center in Durham, NC, to New Boston Fund for $27.7 million. In a separate transaction, Koll Bren sold the 14-story, 139,489-sf Corporate Plaza in Downtown Raleigh to Modern Continental Enterprises of Boston for $8.15 million.

By Robert Anthony | Updated on October 24, 2000

DURHAM/RALEIGH, NC-New Boston fund and Modern Continental Enterprises are the newest players in the Triangle market.

Highwoods Properties Inc. sold the four-building, 394,200-sf Triangle Business Center in Durham, NC to New Boston Fund for $27.7 million or $70.26 per sf.

In a separate transaction, Koll Bren sold the 14-story, 139,489-sf Corporate Plaza in Downtown Raleigh, NC to Modern Continental Enterprises of Boston for $8.15 million or $58.42 per sf.

Bren had owned the building for three years. The structure was renovated in 1992. McKinney & Silver, a leading Southeast advertising firm, is among the building’s tenants.

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