HFF announces $9.5 million sale of 10.93 acres in Raleigh’s Crabtree Valley

                                                                                    Aerial photo by Clear Sky Photography
Carolina Row, within Crabtree Valley submarket, Raleigh, NC

CHARLOTTE, NC –– HFF announces the $9.5 million sale of Carolina Row, a 10.93-acre land site within the Crabtree Valley submarket of Raleigh, North Carolina.

 The HFF team marketed the parcel on behalf of a private owner.  Kotarides, a Virginia Beach-based real estate company with holdings throughout the Mid-Atlantic, purchased the property.

Sarah Godwin

 Carolina Row is located at 4315 Lead Mine Road directly across from the 1.4 million-square-foot Crabtree Valley Mall.  Positioned at the confluence of three major thoroughfares, Interstate 440, Glenwood Avenue/U.S. Highway 70 and Creedmoor/Edwards Mills Road, the property is well connected with major employment and residential nodes around North Hills/Midtown Raleigh, downtown Raleigh and Research Triangle Park. 

Justin Good

 Carolina Row is currently improved with a 1960s multi-housing community.

 The HFF investment advisory team representing the seller consisted of managing director Justin Good, director Sarah Godwin, senior director Allan Lynch and managing director Jeff Glenn.

 Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.

 Founded in 1963 by Alex and O. Pete Kotarides, Kotarides Holdings has grown into a large, privately held real estate company in the Mid-Atlantic with several million square feet of residential and commercial properties. 

Its divisions include Corinth Residential, Kotarides Developers, Kotarides Builders and KPM, a real estate management division.  The company has projects throughout Hampton Roads, Virginia; Richmond, Virginia; Raleigh, North Carolina; Winston-Salem, North Carolina; and Charlotte, North Carolina. 

 For more information, visit http://kotarides.com/.

Allan Lynch

 HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

JUSTIN GOOD

NC Lic. #261333

HFF Managing Director

(919) 573-4642

jgood@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

MIKE C. GRAY

PR Counsel for Kotarides Holdings

(804) 354-0964

mgray@cpgroupllc.com