Dilweg Reacquires Capital Center
DURHAM, N.C. (Sept. 08, 2014) – The Dilweg Companies has purchased its partner’s interest in Capital Center, a Class A office building in West Raleigh. Dilweg originally acquired the property in 2003 and entered into a joint venture partnership to refinance the loan in 2011.
Capital Center, located at 5511 Capital Center Drive off Jones Franklin Road, was built in 1986. The Class A, seven-story building totals more than 156,000 square feet and currently stands at 94% occupancy.
“We are very excited about our continued involvement in Capital Center,” said Anthony Dilweg, CEO of the Dilweg Companies. “Capital Center’s timeless architecture coupled with its desirable location will help it maintain above average occupancy.”
In addition to acquiring Capital Center, Dilweg recently purchased a twelve-building office portfolio in the Triangle consisting of 773,000 square feet for $89.5M.
Leasing and property management of Capital Center will be handled by Dilweg Commercial and The Dilweg Companies respectively. Leasing inquiries may be directed to David Urben at (919) 601-6458, or via e-mail firstname.lastname@example.org.
About The Dilweg Companies: The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1997, 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 $690 million in asset value and more than 7.3 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.