{"id":1004494396,"date":"2020-11-19T06:56:28","date_gmt":"2020-11-19T14:56:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004494396"},"modified":"2020-11-19T08:52:27","modified_gmt":"2020-11-19T16:52:27","slug":"fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/","title":{"rendered":"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M"},"content":{"rendered":"
\"\"<\/a>

The Dillon. Image courtesy of FCP<\/i><\/p><\/div>\n

FCP and Kane Realty Corp. have sold The Dillon, a mixed-use Class A property<\/a> in downtown Raleigh, N.C., for $236 million. The buyer was an institutional client affiliated with MetLife Investment Management.<\/p>\n

\n

READ ALSO<\/strong>: Raleigh-Durham Commercial Real Estate Wrap-Up \u2013 October 2020<\/a><\/p>\n

\n

The Dillon added 221,300 square feet of office space, 52,600 square feet of retail, 271 multifamily units and a nearly 1,000-stall parking garage to Raleigh\u2019s Warehouse District upon completion in 2018. Located at 223 S. West St., the 18-story, LEED Gold-certified structure occupies a full city block next to Union Station. The property replaced a 100-year-old warehouse.<\/p>\n

FCP and Kane Realty had joined forces to break ground on the project in 2017, backed by a $103 million construction loan from PNC Bank. One year after delivery, the previous owners refinanced with a $140 million mortgage from the same lender in April 2019, CommercialEdge shows.<\/p>\n

The property\u2019s office space is fully leased, home to anchor tenant Arch Capital in addition to Spaces, Stewart Engineering and Inventure Civil. O-Ku Sushi, Oak Steakhouse and a number of other shops and restaurants fill out the retail component.<\/p>\n

JLL worked on behalf of the seller in the deal. The team included Matthew Lawton, Ryan Clutter and Coleman Benedict, among others. Earlier in the year, Clutter assisted in the $80 million disposition of two mixed-use properties<\/a> near North Carolina State University.<\/p>\n","protected":false},"excerpt":{"rendered":"

The LEED Gold-certified, Class A office, retail and multifamily property delivered in 2018.<\/p>\n","protected":false},"author":861,"featured_media":1004494399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21752,21742,1604],"tags":[42182,38600,32924,36928],"class_list":["post-1004494396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-mixed-use","category-latest","category-raleigh-durham","tag-fcp","tag-kane-realty-corporation","tag-metlife","tag-pnc-bank"],"acf":[],"yoast_head":"\nFCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M\" \/>\n<meta property=\"og:description\" content=\"The LEED Gold-certified, Class A office, retail and multifamily property delivered in 2018.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T14:56:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-19T16:52:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/\",\"name\":\"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg\",\"datePublished\":\"2020-11-19T14:56:28+00:00\",\"dateModified\":\"2020-11-19T16:52:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg\",\"width\":800,\"height\":620,\"caption\":\"The Dillon. Image courtesy of FCP\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/","og_locale":"en_US","og_type":"article","og_title":"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M","og_description":"The LEED Gold-certified, Class A office, retail and multifamily property delivered in 2018.","og_url":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-11-19T14:56:28+00:00","article_modified_time":"2020-11-19T16:52:27+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/","url":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/","name":"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg","datePublished":"2020-11-19T14:56:28+00:00","dateModified":"2020-11-19T16:52:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg","width":800,"height":620,"caption":"The Dillon. Image courtesy of FCP"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/fcp-kane-realty-sell-mixed-use-raleigh-asset-for-236m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"FCP, Kane Realty Sell Mixed-Use Raleigh Asset for $236M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/The-Dillon.-Image-courtesy-of-FCP.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004494396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004494396"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004494396\/revisions"}],"predecessor-version":[{"id":1004494447,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004494396\/revisions\/1004494447"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004494399"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004494396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004494396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004494396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}