An affiliate of TPG Real Estate Partners sold The Press, a 250,000 square foot industrial complex in Cary, NC, for $58.3 million. Vigilant Real Estate Holdings was the buyer. Commercial Search reports the buyer also inked a $38.5 million acquisition loan from M&T Bank.
Alloy Properties, the life science real estate platform owned by TPG Real Estate Partners, sold the fully leased property. Alloy paid $35.8 million for the property in 2021.
The Press is at 2001 Evans Road, occupying approximately 18 acres. The property is near Research Triangle Park. A renovation that added nearly 200,000 square feet for life science users was completed in 2023…