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| 92-Acre Land Development Site, Apex, NC |
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| Justin Good |
CHARLOTTE, NC –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $10.825 million sale of
an approximately 92-acre land site in the rapidly-growing Apex, North Carolina,
area.
HFF represented the seller/developer,
Raleigh, North Carolina-based Blue Heron Asset Management, LLC (Blue Heron), in
the transaction. The Halle Companies
(Halle) purchased the site free and clear of existing debt.
Concurrent with the transaction, Halle also
purchased an adjacent eight-acre parcel, which was separately brokered by an
outside firm, to control the entire 100-acre Westford planned unit development
(PUD).
The Westford PUD
(Westford) was entitled by Blue Heron for up to 900 residential units and
550,000 square feet of commercial development.
The site is ideally positioned at Jenks and Wimberly Roads near the U.S.
64 and Highway 540 interchange.
Additionally, Westford is
situated approximately 10 miles south of the Research Triangle Park and 19
miles west of downtown Raleigh. Other
nearby amenities include the 23-mile American Tobacco walking and biking trail,
Apex’s historic downtown district and Jordan Lake State Recreation Area.
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| Allan Lynch |
The HFF investment sales
team representing the seller was led by Justin
Good and Allan Lynch.
“Since the opening of
interstate-grade Highway 540 in 2012, the surrounding Apex area has been
transformed into one of the region’s most sought-after suburbs claiming the top
spot on Money Magazine’s Best Places to Live 2015 list,” said Good. “The area’s explosive growth made it
especially attractive to developers.”
“We saw great potential in
Apex when we made our initial investment five years ago,” added Maurice
Malfatti, managing partner of Blue Heron.
“Working collaboratively with the town, we were able to execute our
business plan and add significant value through the entitlement and approval
process.”
For more information, visit www.hallecompanies.com,
or contact assistant vice president Eric
Rifkin at erifkin@hallecompanies.com or (919) 387-1885.
For a complete copy of the company’s news
release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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