Ericsson RTP buildings, property sell for $26 million

Dec. 06, 2013 @ 06:54 PM

Vacated by the mobile phone company Sony Ericsson in 2009, Ericsson Inc.’s campus in the Research Triangle Park has now sold for $26 million.

The approximately 67-acre property sold to a partnership between the Philadelphia-based real estate firm Rubenstein Partners and Charlotte-based Grubb Properties.

“We’re very attracted to the Triangle market with its growth, and the strength of the economy,” said Jonathan Nance, Grubb Properties’ senior vice president.  

Nance said the companies plan to spend money improving the property to try to attract a company.

“What we plan to do with it is, put some substantial capital improvement dollars in it, and try to attract another corporate headquarters,” he said. “We have a few prospects, but nothing I can name at this point,” he said.

The sale included includes two buildings in the Research Triangle Park at 7001 and 8001 Development Drive.

Previously, mobile phone maker Sony Ericsson, a joint venture between the Sweden-based telecommunications equipment company Ericsson Inc. and Japan-based Sony, had employees at 7001 Development Drive.

The building had been originally occupied by Ericsson, and was later occupied by Sony Ericsson, according to marketing information from Cushman & Wakefield and Thalhimer. The other building at 8001 Development Drive was originally occupied entirely by Ericsson.

Sony Ericsson laid off all 420 employees at its Research Triangle Park Site in 2009 and moved its North American headquarters to Atlanta. The companies dissolved their partnership last year, and Sony took over the mobile phone business.