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| Rendering of Planned Patriot Park Industrial Complex, 3921 IBM Access Road, Raleigh, NC |
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| 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.
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| 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 | www.hfflp.com
or follow HFF on Twitter @HFF
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