HFF announces $10 million sale of land for mixed-use development in Raleigh CBD
CHARLOTTE, NC – December 18, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $10 million sale of 2.17 acres slated for future mixed-use development in the booming Glenwood South corridor of Raleigh’s CBD.
The HFF team marketed the property on behalf of the seller, Harrington Street Partners, LLC. An affiliate of Kane Realty Corporation (Kane Realty) and Williams Realty and Building Co. purchased the site. Additionally, the HFF team secured acquisition financing on the new owners’ behalf through UBTNC, a division of Union Bank & Trust.
Programmed as the second phase of the Peace and West redevelopment, this 2.17-acre site is currently in the design phase and slated to include a mixed-use building with street-level retail and a significant amount of office. A partnership between Kane Realty & Williams Realty and Building Co. already owns the adjacent land at Peace and Harrington Streets, which is planned to serve as the first phase of this area’s transformation. The first phase will consist of Publix – Downtown Raleigh’s first grocery store – and 417 high-rise multifamily units.
The HFF investment advisory team representing the seller included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Sarah Godwin. HFF’s debt placement team representing the buyer consisted of senior director Roger Edwards and senior managing director Travis Anderson. The Harrington Street Partners, LLC team was led by managing partner Gregg Sandreuter.
Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.