Savills, an international real estate services provider, has been retained as exclusive advisor with respect to the sale of Six Forks Square, a fully occupied office complex strategically situated in the heart of Raleigh's Six Forks Road office corridor.
The Six Forks Square complex includes three buildings -- a four-story building and two three-story buildings -- comprising a total of 155,000 rentable square feet, all of which are situated on a seven-acre land parcel.
The complex is leased in its entirety to the State of North Carolina’s Department of Health and Human Services (DHHS) through June 20, 2017. The DHHS has been the site's sole occupant since February 2005, when it replaced IBM, the original occupant of the property. This site serves as the statewide center of all DHHS activities throughout North Carolina.
“North Carolina is one of only seven states to maintain a AAA credit rating from all three rating agencies," said Arthur M. Milston, managing director at Savills. "Six Forks Square offers an attractive opportunity for an investor to acquire a core-quality office property leased on a long-term basis to the strongest credit tenancy in the nation."
Originally constructed between 1981 and 1983 for use by IBM, Six Forks Square stands within the Six Forks submarket, one of the largest office submarkets in the greater Raleigh-Durham region. In addition, the property is conveniently situated at the intersection of Six Forks Road and Millbrook Road, one of the area's most heavily trafficked and visible locations.
The Savills marketing team consists of managing director Arthur M. Milston, vice president Stephen A. Shapiro and associate Ann E. Glendon.
About Savills
Savills, a leading global real estate service provider, is based in the UK and is listed on the London Stock Exchange. Established in 1855, the company has more than 200 offices and more than 19,000 professionals and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.
In the United States, New York-based Savills LLC is a real estate investment banking firm offering investment sales, acquisition, restructuring, debt and equity placement, and advisory services. Throughout their careers, Savills professionals in the U.S. have executed more than $25 billion in real estate transactions spanning the full range of property types, including office, retail, healthcare, multifamily, hospitality and industrial.
We are happy to supply photographs of the property on request.