Q2 2012 Greensboro/Winston-Salem, North Carolina Office Property Sales Analysis

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Q2 2012 Greensboro/Winston-Salem, North Carolina Office Property Sales Analysis


Sales activity remains slow. Only three properties matching Reis’ criteria sold all told during the first half of 2012 for a combined total of $14.1 million, just as slow by number of sales as the pace seen in 2011 but well off the dollar total. The average selling price for year-to-date 2012 deals was $112 psf. The 12-month rolling mean cap rate per quarter-end was 7.2%, same as a year earlier. In the second quarter’s sole completed transaction, Utf High Point LLC paid Dixon Odom Real Estate Group LLC $7.58 million ($162 psf) for the 46,772-square-foot Class B/C multi-tenant office property at 1829 Eastchester Drive in High Point. The deal for the 1994-built building closed in May at a 5.0% cap rate.