Horizon I & II
Raleigh, NC
Building
Summary
- Total Site Size 6.7 acres
- Total Building Size 61,389 sf
- Occupancy 100%
- Parking Ratio 234 spaces (3.81/1,000)
Two fully leased office assets totaling 61,389 sf with compelling mark-to-market opportunity minutes from Raleigh’s North Hills entertainment district.
On behalf of ownership, Avison Young is pleased to exclusively present the opportunity to acquire Horizon I & II at Six Forks (the “Property” or “Horizon”), located at 7701 & 7721 Six Forks Road. Ideally positioned in one of the most coveted real estate markets in the country, and just 3.5 miles north of the vibrant North Hills mixed-use district, the Property produces stable, positive cash flow with strong, near-term upside potential.
Situated on two legal parcels totaling ±6.7 acres, the Property consists of two, single-story office buildings totaling ±61,389 rentable square feet. The Property is currently 100% leased to an attractive mix of tenants with a weighted average lease term of 3+ years, and with rents 9% below market, this provides an upcoming mark-to-market opportunity. Long considered one of Raleigh’s premier business corridors, rents in the Six Forks submarket are among the highest across the market and have been growing at an annualized rate of 5.7% over the last five years.
With limited opportunities to acquire high-quality, single-story office product, Horizon provides an exceptional opportunity for investors to gain a foothold in the most sought-after submarket in the region at an attractive basis that is well below replacement cost.
Investment Highlights
Team

Blake R. Thomas

Kathy Gigac, SIOR

Arnold Siegmund
+1 919 696 3399

Carlo DiGiorgio
+1 919 434 4358