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Raleigh-Durham


Austin Lawrence to Develop $40M Mixed-Used Tower in Durham’s Historic District

Austin Lawrence to Develop $40M Mixed-Used Tower in Durham’s Historic District

The Historic Preservation Commission has approved the construction of a 26-story mixed-use building in the heart of downtown Durham. According to the NewsObserver, the proposed “City Center” high-rise will include 25,000 square feet of ground floor retail; 70,000 square feet of offices; and 133 luxury apartments on the upper 21…

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Level Homes Launches National Expansion in the Triangle

Level Homes Launches National Expansion in the Triangle

In its first foray outside Louisiana, Baton Rouge-based Level Homes is planning to develop three communities totaling 230 single-family homes in Apex, Cary and Durham. According to the Triangle Business Journal, the company has recently opened a new regional office in downtown Raleigh to market its expansion. In Apex, Level Homes…

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Virginia Beach Investor Acquires West Raleigh Office Building for $8.3M

Virginia Beach Investor Acquires West Raleigh Office Building for $8.3M

Continental Capital Management of Virginia Beach, Va. has recently purchased a three-story, 61,412-square-foot office building in West Raleigh. According to the Triangle Business Journal, shopping mall operator CBL & Associates Properties sold the asset for $8.3 million. At the time of sale, the building at 1500 Sunday Drive within Trinity…

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Oaktree-NFR Partnership Acquires 450K SF Wells Fargo Operations Center in Raleigh

Oaktree-NFR Partnership Acquires 450K SF Wells Fargo Operations Center in Raleigh

An affiliate of Oaktree Capital Management, L.P. in partnership with National Financial Realty, Inc. (NFR) of Los Angeles has recently purchased the 450,000-square-foot Wells Fargo office park in west Raleigh, the Triangle Business Journal reports. Located at 1100 Corporate Center Drive, the three-building property has a tax value of $64…

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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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