Wednesday, August 9, 2017

HFF arranges construction and land financing for industrial project in Raleigh, NC

Rendering of Planned Patriot Park Industrial Complex,  3921 IBM Access Road,
Raleigh, NC

Ken Martin
INDIANAPOLIS, IN  – Holliday Fenoglio Fowler, L.P. (HFF) it has arranged construction and land financing for the to-be developed Patriot Park in Raleigh, North Carolina. 

The initial construction at Patriot Park will include two Class A spec industrial buildings totaling 322,800 square feet, and, once fully built out, Patriot Park will total up to one million square feet. 

HFF worked on behalf of the developer, Strategic Capital Partners, Inc., to place the three-year loan with First Tennessee Bank.  Funding consists of two loans, the first loan funds the development of the two buildings, and the second loan funds the cost of acquiring the 96 acres of land for the facility and pad sites.

Located at 3921 IBM Access Road, the facility will be south of TW Alexander Drive and east of Miami Boulevard in Raleigh’s Research Triangle Park (RTP) submarket.

 The property is proximate to Interstate 40 and less than seven miles from Raleigh-Durham International Airport.  The 96 acres on which the facility will be constructed are some of the last large acreage tracts remaining in the RTP area. 

Cory Fowler

The construction will be completed in two phases beginning with the construction of two identical 161,400-square-foot, rear-load buildings on 15 acres and providing infrastructure for future phase II projects.  Expected completion for phase I is the first quarter of 2018. 

HFF’s debt placement team was led by senior director Ken Martin along with senior director Cory Fowler.

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |
 or follow HFF on Twitter @HFF

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