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Raleigh-Durham


Hotel, Retail Development Breaks Ground on 6.4-Acre Rezoned Site Near Interstate 40

Hotel, Retail Development Breaks Ground on 6.4-Acre Rezoned Site Near Interstate 40

A joint venture between MJM Group and Griffin Stafford of Charlotte is currently developing a new hotel and retail center in Durham. According to the NewsObserver, plans call for a 105-room hotel, as well as 30,000 square feet of retail, restaurant and medical office space. The developers have spent several…

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Raleigh’s Smoke-Free Apartment Communities in High Demand

Raleigh’s Smoke-Free Apartment Communities in High Demand

Residents at the new Water Garden Village community in northwest Raleigh can breathe easy on the entire 11-acre property. According to WRAL, the recently opened 100 percent smoke-free apartment complex has been quite successful, leasing within nearly a month of opening. Located at 8441 Mount Valley Lane, the 60-unit community…

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Centennial Acquires Multi-Family Complex from JP Morgan Affiliate for $39M

Centennial Acquires Multi-Family Complex from JP Morgan Affiliate for $39M

Atlanta-based Centennial Holding Company LLC has recently purchased the 270-unit Addington Farms apartment community in Durham, which it renamed Century Trinity Estates. The Triangle Business Journal reports that an affiliate of J.P. Morgan Investment Management Inc. of New York has sold the property for $38.6 million. Located at 240 Ivy Meadow…

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Brookfield Acquires Apartment Communities in the Triangle for $108M

Brookfield Acquires Apartment Communities in the Triangle for $108M

Brookfield Asset Management Inc. has purchased five multi-family properties in the Triangle region, as part of its $414 million deal to acquire a total of 19 apartment communities in North Carolina, South Carolina and Virginia. Babcock & Brown Residential, the seller of the 4,892-unit portfolio was advised by Robert W.…

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KBS Realty Acquires Iconic Building in Suburban Raleigh for $98.4M

KBS Realty Acquires Iconic Building in Suburban Raleigh for $98.4M

On January 31, a joint venture partnership between the Indianapolis-based real estate investment trust Duke Realty Corp. and the Raleigh-based real estate development firm Kane Realty Corp. sold the prestigious 17-story Captrust Tower in the city’s North Hills area. KBS Realty Advisors of Newport Beach, California acquired the approximately 300,000-square-foot…

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Grubb Properties to Develop 203-Unit Link-Branded Apartment Complex in Raleigh

Grubb Properties to Develop 203-Unit Link-Branded Apartment Complex in Raleigh

Grubb Properties is planning a 203-unit luxury apartment complex in Raleigh’s Glenwood South district. According to the NewsObserver, the project will be developed on half a block bordered by Jones, West and Harrington streets. “We think it’s one of the best sites, certainly in the Triangle market, and one of the…

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$55M Mixed-Use Development in Downtown Chapel Hill Nears Completion

$55M Mixed-Use Development in Downtown Chapel Hill Nears Completion

The 140 West Franklin development, one of Chapel Hill’s largest mixed-use projects, will be complete by late April. Located at the intersection of West Franklin and Church streets, the venture is expected to boost economic activity and bring new markets to the town. According to The Daily Tar Heel, the…

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Hampton Hotel Opens 11th, 136-Room, Property in Raleigh

Hampton Hotel Opens 11th, 136-Room, Property in Raleigh

by Adriana Pop, Associate Editor Global hospitality brand Hampton Hotels announced the opening of the Hampton Inn & Suites Raleigh/Crabtree Valley. Located at 3920 Arrow Drive, on the site of the former Crabtree Inn building, the 136-room hotel is the 11th Hampton property in Raleigh. Amenities include a business center,…

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New York Opportunity Fund Closes on $5.2M Acquisition of Long-Vacant Downtown Building

New York Opportunity Fund Closes on $5.2M Acquisition of Long-Vacant Downtown Building

In a $5.2 million deal, real estate investor Howard Lavitt and his partners at LRC Opportunity Fund of New York have acquired the long vacant, 11-story office building in downtown Raleigh. The Triangle Business Journal reports that the transaction closed on Dec. 21. Ben Kilgore with CBRE in Raleigh represented…

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Glenwood Hospitality Debuts $15M New Hampton Inn and Suites Hotel in Raleigh

Glenwood Hospitality Debuts $15M New Hampton Inn and Suites Hotel in Raleigh

The new Hampton Inn & Suites Raleigh Downtown is officially open. Located in the Glenwood South District at 600 Glenwood Avenue, the boutique-style property offers 126 guestrooms. According to the Triangle Business Journal, it is the first hotel to open in the city’s downtown area since the Raleigh Marriott…

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Bayer to Construct $2.65M North American Bee Care Center

Bayer to Construct $2.65M North American Bee Care Center

Bayer CropScience has announced plans for the development of a North American Bee Care Center at the company’s headquarters in Research Triangle Park. The estimated cost of the project is $2.65 million, the Herald Sun reports. Construction on the 6,600-square-foot LEED Gold-certified facility is expected to begin in February. Upon…

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City of Raleigh Approves Dorothea Dix Lease Agreement to Create Urban Park

City of Raleigh Approves Dorothea Dix Lease Agreement to Create Urban Park

The Raleigh City Council's lease of the Dorothea Dix Hospital campus will enable the city to move forward with its plan to reconvert the 325-acre property into an urban park. The city council has agreed to lease the Dorothea Dix Hospital campus from the State of North Carolina for up…

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