Sunday, July 31, 2016

HFF closes sale of first parcel within St. Albans at Midtown in Raleigh, NC

1100 St. Albans Drive, Raleigh, NC

 CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $3.8 million sale of a 3.39-acre parcel within the larger 51.32-acre St. Albans at Midtown development site near North Hills in Raleigh, North Carolina.

HFF marketed the site on behalf of the sellers:  Wells Fargo Bank, acting as Trustee for a local family; and Henry Sink and Richard Williams, acting as Co-Trustees for another local family. 

Coastal Federal Credit Union, which operates its headquarters on the adjacent parcel, purchased the site free and clear of debt.  Jake Jones at Avison Young represented Coastal Federal Credit Union.

Justin Good
The St. Albans at Midtown development site is situated less than one half of a mile from the terminus of North Hills, a growing area of Midtown Raleigh that has more than one million square feet of lifestyle amenities and nearly 1.1 million square feet of office space either completed or underway. 

With North Hills approaching build-out, the St. Albans at Midtown development site provides an opportunity to extend the North Hills area, often considered Raleigh’s second central business district. 

The site at 1100 St. Albans has immediate access to Interstate 440 and to Wake Forest Road, which links the property to Duke Raleigh Hospital, executive housing in North Raleigh, and the tech hub of Downtown Raleigh.

The HFF investment sales team representing the seller was led by managing director Justin Good and director Allan Lynch.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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