Drawbridge Realty acquires IQVIA headquarters in North Carolina's Research Triangle Park

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DURHAM, N.C. - Rezul -- Drawbridge Realty (https://www.linkedin.com/company/drawbridge-rea...), an investor in strategically important major corporate locations nationwide, has purchased 4820 Emperor Boulevard, a fully-leased, Class A office building on the southeastern edge of Research Triangle Park, for $89,700,000.

The building is the headquarters of IQVIA Holdings, Inc., a Fortune 500 company and one of the world's largest providers of contract clinical research services to the biopharmaceutical and health sectors.

Commenting on the acquisition, Drawbridge's SVP of Investments, Bill Doyle said: "With this transaction we continue to grow our nationwide portfolio of mission critical corporate HQ locations."

"This is a quality asset in a sought-after growth market and IQVIA is an excellent tenant. We look forward to working closely with them as their real estate partner in Research Triangle Park," he added.

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IQVIA's predecessor company was founded in Raleigh-Durham in 1982 and the company has been headquartered at 4820 Emperor Boulevard since it was constructed in 2009. The 11-story, 260,000 square foot building is certified LEED Silver and is viewed as one of the trophy Class A office buildings in the market.

4820 Emperor Boulevard is five miles from Raleigh-Durham International Airport and within fifteen miles of four major college campuses: Duke University, University of North Carolina at Chapel Hill, NC State University and North Carolina Central University. The building is set on 7 acres surrounded by retail amenities, a diversity of housing options and major employers including Duke Health, Cardinal Health and McKesson.

The transaction was arranged by the CBRE team led by Russell Ingrum and Ben Kilgore.

Drawbridge Realty's portfolio currently consists of more than 5.5 million square feet of strategically important corporate office, research, innovation, technology, medical device, life science, and defense locations located in growth markets across the U.S. Just recently, the company renewed a regional headquarters lease for NI at 4600 Patrick Henry Drive (https://www.drawbridgerealty.com/property-details/14) in Santa Clara, CA, expanded the tenancy of Collectors Universe at Pacific Center in Santa Ana, CA, and topped-out a 124,801 s.f. second phase of construction at Uplands Corporate Center (http://www.uplandscorporatecenter.com/) in Austin, TX. The new three-story building in Austin, the first in Texas to be built to the RESET standard for indoor air quality, also is registered for LEED and WELL certification and will be completed in the first quarter of next year.

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Andrew Neilly
***@gallen.com


Source: Gallen.Neilly.Amaral
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