Richmond, Va. (PRWEB) January 30, 2015 -- Commercial real estate asset manager Allegiancy has assumed management of Colonnade II office building, 8510 Colonnade Center Drive, in Raleigh, N.C. Colonnade II is located near booming downtown Raleigh, the Raleigh-Durham International Airport, Research Triangle Park, and many amenities.
The prestigious commercial office property is 100 percent leased through 2023 as the global corporate headquarters of Salix Pharmaceuticals, a leader in therapies for gastrointestinal maladies and diseases.
The $31 million asset is considered a stable, class A property. It is owned under a Delaware Statutory Trust (DST) structure, and includes 126,926 rentable square feet situated on 6.8 acres.
Built in 2008 to take advantage of the low office vacancy in the area, Colonnade II offers its owners a stable cash flow and excellent prospects for superior long term returns.
Allegiancy will implement its standard active procedures in managing this asset, seeking to reduce expenses where possible while ensuring the property is maintained in a first-class manner befitting an asset of this caliber.
Allegiancy CEO Steve Sadler said, “This assignment will provide further proof of Allegiancy’s philosophy that hands-on asset management and care for the equity owners pays dividends.”
Allegiancy President Chris Sadler said: “Allegiancy is extremely pleased to have been appointed as the asset manager for Colonnade II. This is an extremely attractive asset in a market we know well. We look forward to working with the people at Salix to ensure that their experience as tenants is first class in all respects.”
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About Allegiancy
Allegiancy is changing the business of asset management for commercial real estate owners and investors. With an advanced technology platform and singular focus on serving as the owners’ advocate, the company brings fresh vigor to an often poorly understood business. Combining its proactive Value Assurance? operational rigor with an intense focus on cash flow and profitability, Allegiancy is expanding on a track record of more than four decades of success.
Headquartered in Richmond, Va., and led by a team of seasoned professionals and more than 100 years of experience, Allegiancy manages properties that have outperformed their peers by 45 percent since 2006. The company has more than $300 million in assets under management (AUM) and delivers clients attractive returns and profitable, hassle-free investments in commercial real estate.
More information about Allegiancy may be found at http://www.allegiancy.us.
To schedule an interview with Allegiancy’s leadership, contact Audrey Bevel at audrey(at)allegiancy(dot)us or 866.842.7545 ext. 204.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Allegiancy, LLC’s (the “Company”) present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the offering circular dated January 14, 2014 and filed by the Company with the U.S. Securities and Exchange Commission on January 15, 2014. The offering circular, and any supplements or updates thereto, is available on the EDGAR system located on http://www.sec.gov.
Stephanie Heinatz, Consociate Media, http://www.consociatemedia.com, +1 757.713.2199, [email protected]
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