Boston-based Longfellow Real Estate Partners closed on its $117.7 million buy of 11 single-story office buildings at Keystone Technology Park in Durham.
The buildings have a tenant base of technology companies such as Sensus, Syngenta, and Experimental Pathology Laboratories. It was 84 percent leased to 25 tenants at the time Longfellow purchased it.
Developed between 1997-2001, Keystone offers attractive lifestyle and recreation amenities such as a café, fitness center and game room, walking trails, basketball court, picnic areas, food trucks and a weekly farmers market.
Longfellow has been making serious investments in the Triangle.
“Keystone Technology Park profoundly enhances Longfellow’s growing family of destinations for people and companies striving to do great things — which is what the Research Triangle is all about. While the scale of our North Carolina holdings is important, superior accessibility and quality are what really set us apart,” said Jessica Brock, managing director, Longfellow.
Duke University is Longfellow’s largest tenant, and anchors its growing “Durham Innovation District” (aka Durham.ID), a world-class research and business hub, along with residences and retail amenities, that will consist of 1.7 million SF at completion. Situated in the heart of one of North Carolina’s most acclaimed downtowns, Durham.ID recently celebrated the opening of its first offering, the award-winning Carmichael Building.
“Longfellow sees tremendous value and opportunity in the Research Triangle area’s concentration of talented individuals, outstanding universities, entrepreneurial spirit and thriving quality of life., said Adam Sichol, Managing Partner, Longfellow Real Estate Partners, in a statement. “The Longfellow science and technology ecosystem consists of the highest quality buildings in the best locations. We’re honored to have been embraced by this exceptional community and look forward to future successes with our clients and partners.”