News

« Back to News Archive

Dilweg Purchases Somerset Center and Somerset Place in North Raleigh

DURHAM, N.C. (July 31, 2015) The Dilweg Companies, a commercial real estate investment and management firm based in Durham, has purchased Somerset Center and Somerset Place in North Raleigh.

Somerset Center is a 6-story office building located at 4505 Falls of Neuse Road, and Somerset Place is a 4-story office building located at 4515 Falls of Neuse Road. The buildings total 166,546 square feet and were 56 percent occupied at the time of sale. The buildings’ major tenants include Care Services, Townebank Mortgage and In Home Health.

“We believe in the strengthening fundamentals in Raleigh’s 6 Forks/Falls of Neuse submarket,” said Anthony Dilweg, CEO of the Dilweg Companies. “Somerset is well-located to capture the market’s future growth, and we are thrilled about the opportunity to reposition these assets.”

The purchase of Somerset Center and Somerset Place brings Dilweg’s Raleigh-Durham office holdings to nearly 1.2 million square feet. The firm also owns University Tower, Capital Center and RDU Center III.

Dennis Hurley of DTZ will handle leasing for Somerset Center and Somerset Place.

About The Dilweg Companies: The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $730 million in asset value and more than 7.6 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 313-3483 or go to www.dilweg.com.

4515 Falls of Neuse 4505 Falls of Neuse