CBRE Facilitates Sale of Biomanufacturing Facility in Research Triangle Park to Owner/Occupier

CBRE has facilitated the $33 million sale of a 95,500-square-foot industrial building and biomanufacturing facility in Durham, North Carolina’s Research Triangle Park. United Therapeutics purchased the property with plans to occupy it.

Ann-Stewart Patterson and John Hogan with CBRE in Raleigh represented the seller, Oxford Properties Group, in the deal.

“It was an honor and pleasure working with Oxford Properties on their first of several life science investments in the RTP market,” said Ann-Stewart Patterson, executive vice president with CBRE. “Collectively, we’re thrilled to have provided United Therapeutics a real estate solution to continue to grow in the RTP market. This is another fantastic win for the growing Raleigh-Durham life science market.”

Located at 78 TW Alexander Dr. in Durham, the 95,500 sq. ft. biomanufacturing facility was delivered in 2023 and can be expanded up to190,500 sq. ft. with the addition of a mezzanine level. The building’s modern core and shell features 36-foot clear heights to optimize infrastructure integration, seven loading docks for high-volume shipping and receiving, and robust power and water systems.

Research Triangle Park (RTP) is the largest biomedical research campus in the United States, spanning 7,000 acres. Established in 1959, RTP is strategically located between Raleigh, Durham, and Chapel Hill, forming a triangle with three major research universities: North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill. The park is home to over 300 companies, including leading science and technology firms, government agencies, and academic institutions, employing more than 65,000 people. RTP is renowned for fostering innovation and collaboration, making it a hub for cutting-edge research and development.