Investor
group buys Highwoods buildings
RALEIGH -- A group of investors led by Cary developer
Gregg Sandreuter paid Highwoods Properties $22.8 million
for One North Commerce Center.
The Raleigh real-estate investment trust sold the package
of five northeast Raleigh flex buildings as part of a
strategy to prune its portfolio, fund its development
pipeline and pay down debt.
The 292,000-square-foot center, at U.S. 1 and Spring
Forest Road, is about 85 percent occupied.
