Federal Capital Partners® (FCP) announced the $18 million acquisition of Venable Center, comprised of three historic restored tobacco mill office buildings totaling 85,886 square feet of Class A creative office, retail and lab space at 303 S. Roxboro Street in downtown Durham, NC.
FCP Vice President Bryan Kane commented, “”FCP is excited to continue its participation in the revitalization of downtown Durham with Venable Center.”
Venable Center is 99% leased to tenants including Precision Biosciences, who recently signed a long term lease to extend and expand their space. Venable Center is easily accessed from the Durham Freeway and is within walking distance to the Durham Performing Arts Center, the Durham Bulls Stadium and an abundance of downtown restaurants and amenities. The buildings are listed on the National Register of Historic Places and the development was the winner of Preservation Durham’s 2008 Pyne Preservation Award.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com