JLL Income Property Trust has acquired 5 & 47 National Way, two life sciences properties located in Durham, NC. The properties total approximately 375,000 square feet and are each 100% leased to life science tenants. The purchase price was approximately $67 million.

“Healthcare-focused properties, including life sciences, continue to be an area of focus for us as we look to capture the property type’s nearly unparalleled leasing demand and long-term value,” said Allan Swaringen, president and CEO of JLL. “The (properties’) tenants have also shown their commitment by investing, approximately, a combined $180 million in property upgrades to create world-class laboratory facilities.”

Both properties were constructed in 2020 and include improvements such as labs, clean and cold rooms, specialized sanitation stations and specialized water and power upgrades. The properties are adjacent to Research Triangle Park, the largest dedicated scientific research park in the U.S., and a primary economic driver in the Raleigh-Durham area.