Jewel box office asset in Raleigh trades for $24.225M

• JLL Capital Markets facilitates $24.225M sale of 702 Oberlin in Raleigh, North Carolina

• Pharr purchased the boutique office building from Beacon Partners

• The recently renovated property is fully leased and positioned in Raleigh’s Village District

CHARLOTTE, N.C., September 3, 2026 – JLL Capital Markets announced today that it has completed the $24.225 million sale of 702 Oberlin, a 58,625-square-foot boutique office building in Raleigh, North Carolina.

JLL represented the seller, Beacon Partners, and procured the buyer, Pharr.

Completely repositioned between 2023 - 2025, 702 Oberlin is a four-story boutique office asset featuring elevated buildouts and interior design, abundant surface parking and walkability to over 600,000+ square footage of retail and dining across the Village District. Following the comprehensive renovation, the property achieved 100% occupancy within 36 months. Key tenants include Atlantic Union Bank, Salas O’Brien, Utility Innovations, Aligned Technology Group, Prime MD and Pickett Engineering.

702 Oberlin sits on a 2.34-acre site in the heart of the Village District, which is home to more than 100 stores, cafes and restaurants, as well as more than 1,000 multifamily units creating a true live-work-play ecosystem. The asset is positioned in a fortress location adjacent to affluent and established executive neighborhoods, including Hayes Barton, Cameron Park, University Park, Budleigh and Five Points.

JLL Capital Markets’ Investment Sales and Advisory team representing the seller was led by Senior Director Daniel Flynn, Senior Managing Director Ryan Clutter, Director CJ Liuzzo and Associate Sarah Holloway.

“702 Oberlin received a thoughtful renovation and is positioned in a generational location, allowing the building to excel in tenant attraction and retention,” said Flynn. “Investors are hyper focused on the growing shortage of high-quality office space in amenity rich locations, which will drive a long-term supply demand imbalance and significant rent growth, as demand continues to grow while the overall office inventory shrinks.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Beacon Partners is a Carolinas-based commercial real estate firm specializing in the development, acquisition, leasing, and management of industrial, office, mixed-use, and multifamily properties. Beacon leases, owns, or manages more than 14 million square feet of commercial space throughout the Carolinas. For more information on Beacon Partners and its properties, please visit www.beacondevelopment.com

Pharr is a family-owned company founded in 1939 in McAdenville, North Carolina. With roots in textile manufacturing, the company has evolved over generations into a diversified business with interests in real estate investment and development, hospitality, and other strategic investments. Throughout that evolution, Pharr has maintained a long-term approach grounded in innovation, entrepreneurship, and strong relationships, with a continued commitment to creating lasting value for its partners and the communities in which it operates. To learn more, please visit: https://pharrcorp.com