Triangle Business Journal
By Kayli Thompson
October 7, 2025
Story Highlights
- Accesso purchased 555 Mangum building in Durham for $72 million.
- The 242,063-square-foot office building is 65 percent leased.
- Accesso plans to build 20,000 square feet of spec office suites.
Charlotte developer Northwood Ravin has sold the 555 Mangum building adjacent to Durham Bulls Athletic Park in downtown Durham. Accesso, a Florida-based commercial real estate firm, paid $72 million for the trophy asset, according to Durham County deed records.
Alex Romero, managing director for Accesso, said the building has everything the company looks for in an office property — it’s a newer building with a variety of uses in a prime location.
Located on 2.73 acres at 555 S. Mangum St., the building has 242,063 square feet of space. It features a fitness facility with locker rooms, amenity room, rooftop lounge and sky deck, outdoor courtyard, a conference center and an 812-space parking deck.
The property is assessed at $62 million.
Northwood Ravin developed the building, which opened in 2020, in partnership with Akridge. Rooftop restaurant and bar The Lenny recently opened on the 11th floor, adding to the property’s appeal.
The Class A office space was about 65 percent leased as of Q2 2025, according to Triangle Business Journal’s Space data. Recent leases include Tanium doubling its space to nearly 50,000 square feet and Beghou Consulting taking 5,100 square feet on the fourth floor.
Romero said Accesso will build 20,000 square feet of spec office suites as that’s “where the demand is right now.” There will be five to six suites ranging from 2,000 to 5,000 square feet each. The suites will be ready for tenants in the second quarter of 2026.
“Tenants want to move quickly and it helps us control cost, and it helps tenants in that they don’t have to deal with the design and permitting timeline by the time they’re ready to make a decision. So it’s a win, win,” Romero said.
Offering spec office space has been landlords’ answer to the issue of signing tenants. Kane Realty Corp., Turnbridge Equities, Trinity Capital Advisors and Highwoods have all upfitted buildings with spec suites.
In addition, Accesso will add its amenities club to the building, as it does for all its office properties. That program includes events on-site hosted by the company.
The Lenny is currently the only retail tenant at 555 Mangum — the retail space is 18 percent leased. Romero said the 22,563 square feet can accommodate between four to five more retailers.
This is Accesso’s first property in downtown Durham. It also owns the Meridian Business Park in Durham and Weston I and II in Cary. It spent $6.5 million on renovations to the Weston I office building, leading to more than 60,000 square feet of office leases.