Durham, NC – Drawbridge Realty has acquired a single-story, 86,895 sq. ft., Class “A” office building located at 1015 Swabia Court, Durham, North Carolina for $14.75 million. The property is a 100% triple net (NNN) leased to Nimble Storage, Inc. (NYSE:NMBL) and serves as one of the company’s three worldwide headquarters locations. The property, located at 1015 Swabia Court, was recently renovated including a new roof, replacement of the HVAC units, the creation of an inner courtyard landscaped amenity area, and new interior tenant improvements.
“We are very excited about this acquisition as it allows Drawbridge Realty to enter into a new market that fits our acquisition criteria and features a strong corporate tenancy base including technology, life science, medical device and other service related industries,” said Chris Elmendorf, Vice President of Investments.
The property is located within the prestigious Imperial Center masterplan, adjacent to the Research Triangle Park, at the nexus of I-540 and I-40 and 4 miles from the Raleigh-Durham International Airport.
“This acquisition further allows us to create a long term relationship with Silicon Valley based Nimble Storage,” said Mark Pearson, Co-Founder and Vice Chairman of Drawbridge Realty.
The Seller, Rubenstein Partners, LP & Grubb Properties were represented by Ben Kilgore and Jeff Glenn of CBRE|Raleigh.
About Drawbridge Realty, LLC
Drawbridge Realty, LLC is a San Francisco-based real estate investment and development company that targets commercial property investments predominantly in select markets across the western United States with a current portfolio comprising over two and a half million square feet. The firm pursues properties suited to large corporate tenants, with an emphasis on fully occupied buildings, as well as properties that are ready for new development, redevelopment, or conversions to higher and better uses. The current portfolio is comprised of properties located in the Silicon Valley; San Diego; Austin, Texas; and Salt Lake City, Utah. Drawbridge has completed transactions with major corporations including Broadcom, Google, Johnson & Johnson, L-3 Communications, Lockheed Martin, Medtronic, National Instruments, Northrop Grumman, and Unisys. Learn more at www.DrawbridgeRealty.com.