Raleigh-Durham
Chapel Hill Approves New Downtown Apartment Complex
by Adriana Pop, Associate Editor
The Town Council in Chapel Hill unanimously approved the construction of Shortbread Lofts, an 85-unit apartment complex on West Rosemary Street.
The development takes advantage of the strength of the Chapel Hill apartment market, which is experiencing […]
Crescent Resources to Develop $47M Apartment Community in Durham
by Adriana Pop, Associate Editor
Crescent Resources LLC recently broke ground on Circle Ninth Street, a $47 million Circle-branded multifamily community in Durham.
The 303-unit apartment project is designed to meet LEED certification requirements from the U.S. Green Building Council.
Part of […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]