Raleigh-Durham
Citrix Seeks New Space in Downtown Raleigh to Invest $12.5M
by Adriana Pop, Associate Editor Citrix Systems Inc. plans to expand its data-sharing division by investing at least $12.5 million in a new facility in downtown Raleigh. The company chose Raleigh over Atlanta and Austin for its expansion. Jesse Lipson, general manager of Citrix Systems data sharing operations, told the Triangle Business Journal that the […]
Wells Fargo, Pappas Properties to Develop Foreclosed Masterplanned Community
by Adriana Pop, Associate Editor Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart a 24-acre master-planned development that the bank had earlier foreclosed upon. According to the Triangle Business Journal, Pappas and the bank have jointly filed a a new master plan proposal and a rezoning request for the 24-acre site known as […]
U-Haul Acquires 425-Unit Self-Storage Facility in Chapel Hill
by Adriana Pop, Associate Editor U-Haul Company of Raleigh has expanded its network of self-storage locations with the purchase of an existing storage facility in Chapel Hill. Financial terms of the transaction were not disclosed. The new U-Haul Moving and Storage of Chapel Hill, formerly known as Ironclad Self Storage, features more than 425 storage […]
Alamance Regional Medical Center Plans $60M Expansion
by Adriana Pop, Associate Editor Alamance Regional Medical Center is planning a $60 million expansion, the largest since the hospital opened in 1995. According to The Business Journal, the campus improvement project includes a two-story, 40,000-square-foot cancer center to be located at the end of the Medical Arts building. The facility will feature new space […]
Nonprofit FHI 360 to Relocate HQ to American Tobacco Campus
by Adriana Pop, Associate Editor FHI 360 plans to move its headquarters and about 400 employees to downtown Durham’s American Tobacco Campus next year. The transaction represents one of the largest leases signed in the Triangle in recent years, providing American Tobacco’s owner, Capitol Broadcasting, with an anchor tenant. The NewsObserver reports the Durham-based international nonprofit […]
Connor Group Pays $26M for 5th Acquisition in N.C. Market
by Adriana Pop, Associate Editor
The Connor Group purchased Autumn Woods Apartments, a 236-unit luxury community located in Carrboro, for $26.25 million. The Ohio-based real estate investment firm bought the property from Fairfield Autumn Woods LLC of San Diego.
The community sits on 14 acres and was built in 1997. The Triangle Business Journal reported that Fairfield […]
Red Hat Subleases Headquarters Space from Progress Energy
by Adriana Pop, Associate Editor
Red Hat plans to move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot, hi-rise downtown. Red Hat will be subleasing the space from Progress Energy.
The lease contract amounts to about $86.68 million, not including concessions, over the next 23 years., the Triangle Business Journal reports.
The new building, Red Hat Tower, is situated at […]
Three New Student Housing Complexes to Open Near N.C. State University
by Adriana Pop, Associate Editor
Construction of three new luxury student complexes is underway near North Carolina State University in Raleigh, N.C.
Slated to open simultaneously this summer, the three developments will offer a total of 1,770 off-campus bedrooms, the NewsObserver reports. In spite of the growing concern over the cost of higher education, experienced student housing […]
ECI Purchases Apex Site to Develop 300-Unit Apartment Complex
by Adriana Pop, Associate Editor
Georgia-based ECI Group Inc. plans to develop the Columns at Broadstone, a 300-unit multifamily apartment complex in Apex. The NewsObserver reports that the company paid $2.2 million for a 19-acre site just off U.S. 1, near its intersection with E. Williams Street. ECI Group acquired the land from Kite Realty, owner […]
Beech Lake Apartments in Durham Sells for $19.7M
by Adriana Pop, Associate Editor
Palatine Capital Partners Management LLC has sold the 345-unit Beech Lake multifamily community located in Durham for $19,700,000. Westdale Properties and Lubert-Adler acquired the apartment complex. The transaction closed on Dec. 24, 2011. Apartment Realty Advisors […]