15 Jul Stirrup Creek
South Duvall and Alidade Capital Close Acquisition of 96,500-sf Biomanufacturing Facility in Durham, NC
Durham, NC – June 27, 2024 – South Duvall, in a joint venture with Alidade Capital, announces the acquisition of a 96,500-square-foot biomanufacturing facility located at 4018 Stirrup Creek, Durham, NC. This property is fully occupied by Tergus Pharmaceuticals, a full-service topical pharmaceutical research, development, and manufacturing company. The facility, designed to meet the high standards required for commercial biomanufacturing, provides critical infrastructure to support Tergus Pharmaceuticals’ ongoing growth and innovation in the pharmaceutical industry.
This acquisition represents one of the very few life science real estate transactions to close in 2024 and is a significant milestone in today’s challenging capital markets environment for scientific real estate.
“We are very excited to have gotten this deal over the finish line. Right now, it is difficult to capitalize scientific real estate projects and this closing is a testament to the hard work of a lot of different groups, specifically Alidade Capital,” said Matt Brown from South Duvall.
JLL acted as a strategic capital advisor to South Duvall.
For more information, please contact:
Matt Brown
Vice President of South Duvall
mbrown@southduvall.wpenginepowered.com
www.southduvall.com
About South Duvall
South Duvall is a leader in the development and management of high-quality commercial real estate, focusing on life sciences and technology sectors. With a commitment to fostering innovation and supporting scientific advancements, South Duvall delivers state-of-the-art facilities to its tenants.
About Alidade Capital
Alidade Capital is a private equity real estate firm specializing in value-add real estate investments. With a strategic focus on life sciences, industrial, and office properties, Alidade Capital aims to create long-term value for its investors through disciplined investment and management practices.
About Tergus Pharmaceuticals
Tergus Pharmaceuticals is a full-service topical pharmaceutical research, development, and manufacturing company. With extensive expertise in formulation, development, and clinical supplies, Tergus Pharmaceuticals is dedicated to delivering high-quality products and services to its clients.