Raleigh-Durham
LexisNexis Chooses 120,000-Sq.-Ft. in Centennial Campus for Expansion
Legal research firm LexisNexis has announced it would relocate its software division from Cary to Raleigh to accommodate the company’s growth. According to the Triangle Business Journal, LexisNexis will occupy the 120,000-square-foot office building on Centennial Campus that technology firm Red Hat had vacated earlier this year when it relocated to downtown Raleigh.
Crecent Signs up 6 Tenants for Property’s 17,900 SF Retail Component
Six new tenants have recently committed to occupy the entire 17,900-square-foot street level retail component at Crescent Cameron Village, a mixed-use 282-unit residential community currently under construction in Raleigh’s historic Cameron Village.
Highwoods to Develop MetLife’s Global Technology and Operations Hub in Cary
Raleigh-based Highwoods Properties has unveiled its plans to develop a $110 million office park for MetLife on Weston Parkway in Cary.
Lawmakers Back Controversial 167-Acre Mega Development South of Durham
751 South, a long-stalled residential and business mega development along the Durham-Chatham county line can finally move forward.
Capitol Broadcasting Acquires Old Bull and Noell Buildings at American Tobacco
Two historic apartment and retail buildings at the American Tobacco Campus in Durham have recently been purchased by the original developers of the 16-acre site. According to the Triangle Business Journal, an affiliate of Capitol Broadcasting Company known as ATC North Residential LLC has acquired the Old Bull and Noell buildings at 300 and 312 Blackwell Street for a combined $9.5 million.
Carey Watermark Investors Acquires 400-Key Marriott in Downtown Raleigh for $83M
In an $83 million deal, Carey Watermark Investors Incorporated (CWI) has purchased the 400-room Marriott City Center hotel in downtown Raleigh. The New York-based real estate firm has also announced it would spend another $6 million to upgrade the 17-story property and cover other acquisition–related costs. The investment was financed with $51.5 million of debt.
Lone Star-Managed Fund Acquires 11 Distressed Office Properties in Raleigh and Morrisville
An investment fund managed by Lone Star Funds of Texas has acquired 11 office buildings in Raleigh and Morrisville for a total of $45 million, the Triangle Business Journal reports. U.S. Bank acquired the properties for $49 million at a foreclosure auction in January.
PREI Joins Dominion Realty to Develop $54M Charter Square Office Tower in Downtown Raleigh
Prudential Real Estate Investors (PREI) has entered a $54 million joint venture with Dominion Realty Partners to develop the first phase of the Charter Square speculative office project in Raleigh.
Crescent Communities Offers Larger Apartments in $40M Multi-Family Development
Crescent Communities of Charlotte has announced plans to develop Crescent Main Street, a $40 million multi-family complex in Durham’s Ninth Street district.
Terwilliger Pappas Restarts Crabtree Village Mixed-use Development
Developers have begun construction on the first phase of the long-stalled Crabtree Village master plan in Raleigh.