RALEIGH/DURHAM, NC:  Cushman & Wakefield | Thalhimer represented Cambridge Hanover in the sale of Research Triangle Industrial Center (RTIC), a three-building industrial park totaling 153,629 SF and situated on 10.44 acres.  Located within the heart of Raleigh-Durham’s premier industrial submarket, RTIC is strategically positioned in an irreplaceable location at the intersection of Highway 54 and Airport Boulevard offering exceptional access to I-40, I-540, the Raleigh-Durham International Airport and Research Triangle Park.  Peter Lawrence Company purchased the 93% leased portfolio for $9,250,000.
     Chris Norvell and Scot Humphrey of Cushman & Wakefield | Thalhimer’s Capital Markets Group handled the negotiations.  “We are pleased to welcome Peter Lawrence Company to the Raleigh-Durham industrial market,” said Norvell.  “They’ve been looking for an entry point for some time, and found an excellent opportunity with Research Triangle Industrial Center.”
     Kris Hoover, President of Peter Lawrence Commercial Real Estate, Inc. adds “We are very excited about entering the market through our acquisition of Research Triangle Industrial Center. Our firm has been pursuing properties in the Triangle region for the past several years and believes RTIC is an exceptionally well-positioned business park. We look forward to continuing to grow our presence in Raleigh-Durham. “    
     Formed in 1988, Peter Lawrence Commercial Real Estate, Inc. is a privately held commercial real estate firm actively engaged in the acquisition, development and management of investment grade commercial properties. Peter Lawrence specializes in high-quality industrial, flex and suburban office buildings. The Company focuses on markets poised for long-term growth and has a significant presence in the Tampa, Miami and Washington, DC/Northern Virginia markets with a portfolio currently consisting of 3.2 million square feet.