 |
| Justin Good |
CHARLOTTE, NC, July 18,
2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the $16.25 million sale of an 18.82-acre parcel within the larger 51.32-acre St. Albans at Midtown development site
near North Hills in Raleigh, North Carolina.
Located at 900 St. Albans Drive, this is the third site closed from the
St. Albans at Midtown offering.
HFF marketed the site on
behalf of the seller, Wells Fargo Bank, acting as Trustee for a local family;
and Henry Sink and Richard Williams,
acting as Co-Trustees for another local family.
DeWitt Carolinas Inc. (DeWitt) purchased the
site, which is adjacent to DeWitt’s separately owned, 161,000-square-foot One
Renaissance Center office building and accompanying land site.
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 nearly 1.1 million
square feet of office space, more than 1,800 multifamily units either completed
or underway, and more than one million square feet of retail.
 |
| Allan Lynch |
The site at 900 St. Albans
is located less than a half mile from Interstate 440 and, in addition to North
Hills, is proximate to executive housing in North Raleigh, the tech hub of
downtown Raleigh and Duke Raleigh Hospital.
The new owner successfully rezoned the site in May 2017 to allow for
development height between seven and 20 stories.
The HFF investment sales
team representing the seller was led by managing director Justin Good and senior director Allan Lynch.
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 | www.hfflp.com
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