Dilweg Acquires Regency Lakeview in Cary
DURHAM, N.C. (Jan. 10, 2017) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of Regency Lakeview in Cary from Intercontinental Real Estate Corporation.
Regency Lakeview consists of two five-story Class A office buildings located in Regency Park in Cary, adjacent to Koka Booth Amphitheatre. The buildings total 376,131 square feet, and were built in 1985 and 1998. Major tenants include Dude Solutions, HCL, Global Knowledge and Black & Veatch. The buildings were 100 percent leased at the time of sale.
“We are extremely excited to expand our local footprint with the acquisition of Regency Lakeview,” said Anthony Dilweg, CEO of the Dilweg Companies. “These buildings provide a unique opportunity for our asset enhancement team to roll up their sleeves and work with the current tenant base to address their immediate and future needs at one of the premiere office parks in Cary.”
Dilweg plans to invest more than $4 million to improve the buildings’ operating systems, parking, common areas and tenant amenities to ensure providing the “best in class” office experience for existing and future tenants.
The purchase of Regency Lakeview brings Dilweg’s Raleigh-Durham office portfolio to nearly 1.8 million square feet and total Southeast holdings to nearly 6 million square feet. The firm also owns Quadrangle Office Park, 4505 and 4515 Falls of Neuse, South Square I and II, University Tower, Capital Center and RDU Center III.
Ben Kilgore and Patrick Gildea of CBRE represented the Intercontinental Real Estate Corporation on the transition.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment 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 $1 billion in assets and more than 9.6 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.