YMCA of the Triangle Expanding to Downtown Raleigh
RALEIGH, NC - April 25, 2017 - LRC Properties and the YMCA of the Triangle join together in announcing a new YMCA at 227 Fayetteville Street in downtown Raleigh. The YMCA will occupy over 26,000 square feet in the newly renovated mixed-use office building, bringing wellness programs and services to the downtown community. LRC Properties owns and manages 227 Fayetteville.
"We are excited about the opportunity to expand YMCA wellness programs in Raleigh's Central Business District," said Doug McMillan, YMCA of the Triangle CEO. "A YMCA at 227 Fayetteville will put the YMCA in the heart of one of the most dynamic areas of our city. Raleigh has a lot of energy right now, and we’re excited to be part of its growth."
YMCA of the Triangle operates 16 branches in the Triangle area, offering a wide variety of programs and services. The downtown Raleigh branch will be the nonprofit's fourth Raleigh location.
According to Ed Kulik, Principal at LRC Properties, the new branch will directly connect to Fayetteville Street and have full visibility from Exchange Plaza and Market Plaza.
"A new YMCA of the Triangle branch is a great match for 227 Fayetteville and downtown Raleigh," Mr. Kulik said. "Their programs will only further enhance the quality of life for residents of all ages."
LRC Properties acquired 227 Fayetteville in late 2012 and recently completed a $14.5 million renovation on the 10-story building. The developer received a 2016 Imprint Award from the Downtown Raleigh Alliance for its work. Current tenants include VitalSource Technologies, RATIO Architects, Cohera Medical and Indy Week.
NAI Carolantic Realty broker Robin Roseberry Anders, SIOR represented LRC Properties in the transaction. The tenant was represented by Ed Pulliam of CBRE.