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Raleigh-Durham


City Plans to Reconvert Dorothea Dix Campus to Urban Park

City Plans to Reconvert Dorothea Dix Campus to Urban Park

By Adriana Pop, Associate Editor Gov. Beverly Perdue intends to reconvert the site of the former Dorothea Dix psychiatric hospital into a public park. The state Department of Administration will then need to find a solution to move the 1,300 state [...]…

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Landmark Group Obtains on $9.5 Million Tax Credit Financing

Landmark Group Obtains on $9.5 Million Tax Credit Financing

by Adriana Pop, Associate Editor WNC & Associates, Inc., a nationwide investment firm specializing in urban renewal and affordable housing projects, provided $9.5 million in Low Income Housing Tax Credit (LIHTC) financing to the Landmark Group for the redevelopment of a [...]…

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More Green Upgrades Coming to the Raleigh Convention Center

More Green Upgrades Coming to the Raleigh Convention Center

By Liviu Oltean, Associate Editor The Raleigh Convention Center is set to receive more green upgrades as the installation of a 500-kilowatt solar energy system is currently being prepared. Upon completion, 60 percent of the center’s roof will be covered with [...]…

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Lockton Renews Lease with Highwoods

Lockton Renews Lease with Highwoods

By Liviu Oltean, Associate Editor Lockton Inc. is renewing the lease with the Raleigh-based Highwoods Properties for the Country Club Plaza Valencia Place in Kansas City. The renewal will extend the company’s commitment until February 2030. Lockton Inc. is leasing about 170,000 square [...]…

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Archon Group Acquires Six Office Properties in the Triangle Area

Archon Group Acquires Six Office Properties in the Triangle Area

By Liviu Oltean, Associate Editor Duke Realty Corp. recently sold six office properties for $44 million to Archon Group of Irving, Texas, a real estate investment arm of Goldman Sachs. The buildings, located in Raleigh and Cary, had been acquired or developed [...]…

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Federal Capital Partners Purchases Loft Mixed-Use for $35.25M

Federal Capital Partners Purchases Loft Mixed-Use for $35.25M

By Liviu Oltean, Associate Editor Federal Capital Partners (FCP) recently acquired the first phase of West Village in Durham for $35.25 million. The seller was BGL Real Estate Advisors, which was represented by First Capital Realty of Bethesda, Md. According to the CityBizList, [...]…

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UNC Health Purchases 47 Acres from Blue Cross for $14.25 Million

UNC Health Purchases 47 Acres from Blue Cross for $14.25 Million

By Liviu Oltean, Associate Editor UNC Health recently acquired 47 acres of land from Blue Cross and Blue Shield of North Carolina for $14.25 million. The tract, located on U.S. 15/501, across Blue Cross and Blue Shield’s Chapel Hill HQ, also includes [...]…

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Red Hat to Sublease Two Progress Plaza from Progress Energy for $87M

Red Hat to Sublease Two Progress Plaza from Progress Energy for $87M

By Liviu Oltean, Associate Editor Red Hat and Progress Energy’s negotiations over the sublease of the Two Progress Plaza tower have come to a close. The two companies have agreed to a 23-year sub-lease valued at about $87 million. According to a report [...]…

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Highwood Plans $25.2M Rehab for PPG Place

Highwood Plans $25.2M Rehab for PPG Place

By Liviu Oltean, Associate Editor Highwood Properties Inc. has revealed a $25.2 million upgrade plan for the PPG Place complex, which incorporates six class A buildings ranging from 37,000 to 900,000 sq. ft. Highwood Properties purchased PPG Place for $214.1 million. According [...]…

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Brownstone Hotel Rebranded As DoubleTree; More Leasable Space on Flexible Terms in the Triangle Area

Brownstone Hotel Rebranded As DoubleTree; More Leasable Space on Flexible Terms in the Triangle Area

By Liviu Oltean, Associate Editor The Brownstone Hotel located at the corner of Hillsborough Street and Cox Avenue has been rebranded as a Doubletree by Hilton. The hotel has been managed under the Holiday Inn aegis for the past nine years. The rebranding comes after a [...]…

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Kimco Realty Expands Portfolio with $42.7M Acquisitions

Kimco Realty Expands Portfolio with $42.7M Acquisitions

By Liviu Oltean, Associate Editor Kimco Realty Corp. purchased the Brennan Station retail center in north Raleigh for $27.15 million. The transaction also included the sale of a Harris Teeter-anchored shopping center in Cornelius. In total, the two properties were sold to [...]…

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Stag Industrial Buys Warehouse Facility for $8.1M

Stag Industrial Buys Warehouse Facility for $8.1M

By Liviu Oltean, Associate Editor Stag Industrial Inc. has acquired the OPW Fueling Containment Systems property for $8.1 million from an undisclosed seller. OPW in Smithfield, a provider of underground fuel containers to gas stations, has been leasing the 191,450-square-foot warehouse and distribution [...]…

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