The Wingate Building
Value-Add Office Opportunity | Greensboro, NC
Marketing description
Furman Capital Advisors in collaboration with NAI Piedmont Triad, acting on exclusive behalf of the “Owner,” is pleased to offer the following opportunity to purchase the Wingate Building (or the “Property”), located at 4900 Koger Blvd., in Greensboro, NC. The asset is a multi-tenant general office building built in 1999 and situated on the I-40 corridor in the Piedmont Triad International Airport submarket. The property has a WALT of 4.06 years and provides a promising Value-Add opportunity based on comparable basis and leasing potential. The surrounding Triad area has received significant recent economic development announcements with JetZero choosing Greensboro as the location for its first advanced manufacturing and final assembly facility, the world’s first Toyota battery manufacturing facility in nearby Liberty, NC and the addition of Boom Supersonic’s Overtone Super factory at PTI. The Wingate Building stands to benefit greatly over the next few years from the $7.1 Billion economic investments and the addition of 21,200 new jobs for these projects. Minimal competing multi-tenant office construction will allow the Wingate Building and similar well-located properties to capitalize and fill a void in the market.
Investment highlights
- Strong Office Location: Property is located in the strong Piedmont Triad International Airport submarket on the I-40 corridor. (+/-120,000 VPD). Recent economic developments have included Jetzero’s advanced manufacturing and final assembly facility, as well as Boom Supersonic’s Overtone Superfactory which are set to add over 21,200 new jobs to the surrounding area. Nearby supporting retail include most of the national big-box stores as well as national QSRs, with several large hotel groups offering brands within 1-mile.
- Exceptional Access: Great suburban office with nearby access to the intersection of I-40 and Wendover Avenue, I-85, I-73, Greensboro Urban Loop (I-840), Piedmont Triad International Airport (PTI), and 15 minutes from downtown Greensboro, High Point and Winston-Salem.
- Attractive Basis and Walt: The property is being offered at a very attractive basis for an office property and is well below replacement cost. Weighted Average Lease Term is also appealing for an investor with almost 4.06 years remaining and the upside of leasing the existing vacancies at market rental rates.
- Below Market Rental Rates: Office lease rates are trending above the property’s average of $17.02/SF Full Service and competitive basis in the property allows a new owner to capitalize on offering economical options to potential office tenants.
- High Growth Market: The Greensboro MSA has seen an unprecedented increase in economic activity overall and North Carolina has consistently been a Top State to do business with a CNBC ranking of 1st in 2025 and 2023 and had the 3rd highest YOY increase in population. The Triad Region of NC has close to 2 million residents and a 5-mile Average Household Income of $93,210.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
