TradeMark Properties, a commercial real estate company, has recently expanded its investment portfolio in North Raleigh with the acquisition of an office building. According to the Raleigh Business Journal, TradeMark purchased One Springfield Center for $11 million. The three-story building is located at 6131 Falls Of Neuse Road and is situated across from the popular North Ridge shopping center.
In order to enhance the property’s value and appeal, TradeMark plans to make various updates including modernizing the HVAC system and common areas, resurfacing the parking lot, and improving landscaping. Currently occupying 88 percent of its total space, One Springfield Center offers two available office suites for lease. Among its current tenants are Roebuck Homes,
Northview Partners,and Stonewood Insurance.
The Class-B office building was originally built in 1983 but underwent renovations on its lobby in 2019. Additionally,the property boasts six electric vehicle charging stations within its parking lot which spans over an area of 3.59 acres.
This latest purchase comes after TradeMark’s recent acquisition of Campus North – a larger property spanning over64 ,000 square feet – atthe endof2021.Witha90percent occupancy rate now achieved by this additionto their portfolio,it further solidifiesTradeMarks position as a leading commercial real estate firminthe region.
