A 20-Year Vision Realized at Annapolis Drive.
APG Companies is pleased to announce that the second floor of 1309 Annapolis Drive is now fully leased, bringing the 50,000-square-foot building to 100% occupancy.
The 24,000+ square foot lease was executed on a long-term basis. APG represented the landlord, led by Senior Vice President Lee Holder and Vice President & CCIM Daniel Walser. Matt Winters and Kimarie Ankenbrand from JLL represented the tenant.
A One-of-a-Kind Office Asset
Completed in 2023, 1309 Annapolis Drive is a 50,000 SF Class A office building in Raleigh’s highly sought-after Oberlin Road neighborhood. Ownership occupies the first floor, where Dr. Joseph Gordon – founder of Care First Veterinary Hospital, successful local businessman, and philanthropist – operates the region’s premier animal hospital.
The newly leased second floor includes dedicated covered and surface parking, a private entrance, and exclusive elevator access. Prominent building signage is included for this highly visible location.
Of note, the building is Passive Science – an extraordinary distinction and the only commercial building of its kind east of the Mississippi – reflecting superior building standards, advanced sound control, separate air supply per floor, energy efficiency, and long-term performance.
The Long Game
This transaction represents more than a lease.
Lee Holder’s relationship with ownership began in 2003 when he represented the buyer in the first purchase of what ended up being a 3-building assemblage that ultimately became the site for the veterinary hospital. For over two decades Care First Veterinary Hospital operated on the site before redeveloping the property into the new building completed in 2023.
Lee Holder later represented ownership in the acquisition of 1312 Annapolis Drive across the street, further strengthening the long-term vision for the corridor.
Life is relationships. So is business.
“I am incredibly grateful for the trust ownership has placed in me over the years,” said Holder. “They have always been true visionaries – willing to think long-term, invest in quality, and see this project through from land assemblage to full occupancy. The win is in the long game.”
Strategic Advisory and Complex Analysis
With multiple locations under consideration by the Tenant, the lease required detailed financial modeling and negotiation strategy.
Daniel Walser led the underwriting analysis and negotiations to structure a long-term solution aligned with ownership’s objectives while meeting tenant needs. Transactions of this scale demand disciplined advisory and careful structuring – and this one was no exception.
“This was a highly competitive process with multiple locations under consideration,” said Walser. “Our focus was on capital allocation for long-term appreciation and thoughtful negotiation to create a lasting solution that aligned with ownership’s goals while delivering real value to the tenant.”
A Collaborative Close
APG congratulates ownership, Lee Holder, and Daniel Walser on bringing the building to full occupancy and thanks the JLL team for their professionalism throughout the process.
At its core, this milestone reflects what APG strives to deliver every day – trusted relationships and full-service support across the entire commercial real estate lifecycle.
Learn more about APG’s available properties, including 1312 Annapolis Drive.