Imperial Center buildings sell for $44.25 million

Jun. 16, 2014 @ 06:56 PM

Five buildings in Durham’s Imperial Center Business Park sold recently for $44.25 million.

Crown Realty & Development sold the five buildings, which have 705,365 square feet of space, to Liberty Property Trust as an investment.

The newly acquired buildings are on Surles Court, Emperor Boulevard and Parliament Court. Current tents include Cardinal Health, Armstrong Relocation, and Peter Millar and Elite Flooring & Design.

The acquisition brings the total square footage in Liberty Property Trust’s portfolio to 1.4 million square feet, including property in Keystone Business Park.

The purchase was announced by Cushman & Wakefield/Thalhimer’s Capital Markets Group, which represented the seller in the deal, and by Liberty Property Trust.