Midtown North

On behalf of ownership, Avison Young is pleased to exclusively present the opportunity to acquire Midtown North (the “Property” ), located at 5910, 5950, 5970, 6010, & 6040 Six Forks Road, Raleigh, NC 27609. Ideally positioned in one of the most coveted real estate markets in the country, and just 1.7 miles north of the vibrant North Hills mixed-use district. The Property produces stable, positive cash flow with strong near-term rent upside and, based on the City of Raleigh Comprehensive Plan recommendations, an excellent covered land play.

Situated on 8.84 acres, the Property consists of five single-story office buildings totaling ±81,901 rentable square feet. The Property is currently 79% leased to an attractive mix of tenants with a weighted average lease term of 3+ years, and with rents 9% below market, this provides an upcoming mark-to-market opportunity. Long considered one of Raleigh’s premier business corridors, rents in the Six Forks sub market are among the highest across the market and have been growing at an annualized rate of 5.7% over the last five years. Moreover, numerous single-story office properties have been taken out of the office inventory in recent years, due to the demand for lab and life science conversions, putting additional pressure on vacancy and rental rates favoring Landlords as Tenants seek suitable replacement space.

Easily accessed via two signalized intersections on Six Forks including three entrances to include Sandy Forks Road and Lynn Road. Midtown North offers unmatched visibility, private storefront entrances, signage opportunities and an above-market parking ratio. The Property’s prime location in the heart of North Raleigh offers exceptional connectivity across the entire Triangle region with convenient access to a myriad of nearby amenities. Additionally, the Property benefits from its proximity to some of the region’s most coveted demographics with a vast array of executive decision makers and rich talent pool.

With limited opportunities to acquire high-quality, single-story office product, Midtown North provides an exceptional opportunity for investors to gain a foothold in the most sought after submarket in the region at an attractive basis that is well below replacement cost.