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| 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.
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| 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 | www.hfflp.com
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