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Raleigh-Durham


New York Opportunity Fund to Spend $17M on Acquisition, Rehab of Vacant Downtown Building

New York Opportunity Fund to Spend $17M on Acquisition, Rehab of Vacant Downtown Building

LRC Opportunity Fund of New York plans to purchase and renovate the vacant 10-story office building at 227 Fayetteville in Raleigh. According to the NewsObserver, the company expects to close on the sale by the end of the year. “Our plans are to do a total renovation,” Edward Kulik, a…

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Pergo Distribution Center in Garner Sells for $8M

Pergo Distribution Center in Garner Sells for $8M

Exeter Property Group has acquired the Pergo distribution center in the Greenfield business park in Garner for $8 million. According to the Triangle Business Journal, the property was sold by four family trust groups working through First American Exchange Co., an intermediary for 1031 tax-deferred real estate exchanges. CBRE Raleigh’s…

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Hines to Begin Work on 7,000-Acre Research Triangle Park Master Planned Community

Hines to Begin Work on 7,000-Acre Research Triangle Park Master Planned Community

The Research Triangle Foundation has formally unveiled its new master plan for the future growth of the 7,000-acre Research Triangle Park (RTP). It is the first update to the master plan since the park was created in 1959. The foundation has also announced it has selected the Houston real estate…

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Two Apartment Projects Totaling 500 Units to Break Ground in Residential Community

Two Apartment Projects Totaling 500 Units to Break Ground in Residential Community

In the coming months, two projects are expected to break ground at the Heritage residential community in Wake Forest. According to the NewsObserver, the new developments will bring more than 500 units to Heritage. Atlanta-based TWO Capital Partners will develop Capital Creek, a 315-unit apartment complex. The project will be…

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Walmart Takes Steps to Open Another Express Store In North Carolina

Walmart Takes Steps to Open Another Express Store In North Carolina

Wal-Mart plans to open a Walmart Express store in Rolesville. The NewsObserver reports that the retailer is using North Carolina as a primary test market for its smaller store concept. Wal-Mart is now in the process of acquiring a parcel of land at the corner of Rogers Road and Grand…

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BB&T Takes Over Lease of 390,000-Sq.-Ft. Building Formerly Occupied by American Express

BB&T Takes Over Lease of 390,000-Sq.-Ft. Building Formerly Occupied by American Express

BB&T Corp. of Winston-Salem has signed a seven-year agreement to lease the former American Express call center building in Greensboro. The company plans to add 1,700 jobs to the region over the next five years. Located west of Piedmont Triad International Airport, the 390,000-square-foot structure will eventually house up to…

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PRG Real Estate Acquires 216-unit Apartment Community in Durham

PRG Real Estate Acquires 216-unit Apartment Community in Durham

PRG Real Estate has announced the acquisition of Bainbridge in the Park Apartments, a 216-unit garden-style apartment community located on a 25-acre wooded setting in Durham. The community was built in 1985 and is situated within 2.5 miles from the world-renowned Research Triangle Park. Amenities include a 24/7 newly renovated…

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Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh

Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh

by Adriana Pop, Associate Editor Cary-based Capital Associates is expected to break ground on The Greens at Centennial Campus, a 292-unit rental project in Southwest Raleigh to house campus employees. According to the NewsObserver, the $30 million complex would include three apartment buildings spread over 10 acres. At the moment, the only…

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Sentinel to Build Durham’s First Mega-Scale, Multi-Tenant Data Center

Sentinel to Build Durham’s First Mega-Scale, Multi-Tenant Data Center

by Adriana Pop, Associate Editor Sentinel Data Centers of Massachusetts has announced it would build a 420,000-square-foot facility in Durham, the region’s first purpose-built multi-tenant data center for large-footprint users. The initial phase of the Sentinel NC-1 facility will deliver 120,000 square feet by early 2013. “We welcome Sentinel Data…

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Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M

Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M

by Adriana Pop, Associate Editor American Real Estate Partners of Herndon, Va. recently sold three class A office buildings at Keystone Park in Durham for $48.4 million. According to CityBizList Charlotte Raleigh, an affiliate of Investcorp of New York purchased the 285,874-square-foot portfolio at 430 Davis Drive, 530 Davis Drive…

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Compass Buys $2.1M Site in Durham to Develop Data Center

Compass Buys $2.1M Site in Durham to Develop Data Center

by Adriana Pop, Associate Editor Compass Datacenters of Texas has completed the acquisition of a 16.5-acre site in Research Triangle Park, where it plans to build one of its first data center complexes in the U.S. According to the Triangle Business Journal, a subsidiary of the Dallas-based company has purchased…

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Sheetz to Develop $32.8M Distribution and Manufacturing Center in Burlington

Sheetz to Develop $32.8M Distribution and Manufacturing Center in Burlington

by Adriana Pop, Associate Editor Sheetz Inc. plans to establish a $32.8 million regional distribution and food manufacturing center in Burlington and create up to 254 jobs over the next six years. The Pennsylvania-based gas station and convenience store chain recently announced its decision through Gov. Bev Perdue’s office. The…

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