One Hundred Sixty Million Dollar ($160,000,000) Two Tower Project in Raleigh

Two Tower Project in Raleigh – Residential AND Commercial

 

Twenty stories is the rumor we are hearing for the 2 tower project to hit downtown Raleigh!  One is to be for commercial and one for residential.  Both will feature a lot of retail space on the lower floors.  Raleigh continues to grow and become a “Big City” with a small town feel.  It wasn’t that long ago that the words Raleigh, downtown and commercial growth were rarely used in the same sentence.  Now we are privileged and excited to see it often.    Screen Shot 2017-01-16 at 11.55.22 AM

The Lundy Group formed a real estate investment group and will lead the charge for this project to include more land on Hillsborough Street.  The buildings apparently are said to have 242 residential units, in excess of 150 hotel rooms, nearly 1000 parking spaces, and over 40,000 square feet of retail space.  Those of you that are fans of grabbing a beer at The Flying Saucer may want to get there quickly as it will remain as the only part of that city block not under control of the investment group.  No deal is imminent but certainly worth watching!

While the project is expected to push $160MM the total invested at this time is just over $10MM.  Stewart Engineering of Raleigh is a consultant on the project.

To learn more about what’s happening in the commercial real estate world in the Raleigh, Durham and North Carolina markets do not hesitate to contact us at Kima Commercial, Llc.  Our team of Brokers, REALTORS and staff are here to meet your real estate needs.  

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Keller Williams Preferred Realty, 7920 ACC Blvd, Suite 210, Raleigh, NC

919-336-1700

Peter@KimaCommercial.com

We look forward to working with you!

Smoky Hollow Returns to Raleigh

Smoky Hollow Returns to Raleigh

Wow!  Breaking News in Raleigh….sort of.   Sort of?  Yes, you see, renowned North Hills developer John Kane has entered into a joint venture with Cross Williams.  A true real estate mogul in this market, Williams has led several large development projects.  This new JV project is being referred to as Smoky Hollow.  A wonderful reference to a time long lost to our history.  A former blue collared neighborhood just north of downtown Raleigh off of Capital Boulevard.  A place where the former Devereux Field once stood…a proud baseball stadium.  Ironically enough there is an early movement today to build a ballpark in that same general area.  This author is theorizing that maybe that’s why Kane and Williams are getting ahead of the “game”.

Smoky Hollow Neighborhood in Raleigh NC

Smoky Hollow Neighborhood in Raleigh NC

You see, Kane and Williams have purchased the Southland Ballroom and the ThemeWorks buildings on the site of N. West Street in Raleigh.     let the rumors begin as the duo is being ver closed lip about this project.  Mysterious?  Secretive?  Absolutely!  Will it be a first class project that will change the face of the area?  Absolutely!  Will we here at Kima Commercial stay on top of this story?  Absolutely!

The 1.24 acre lot and buildings sold for $4.6M.  It is a project that is right next to the 2.44 acres already owned by other members of the Williams family.

Want to learn more?  Contact Tommy Dalton at Kima Commercial.  919.336.1700

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Keller Williams Preferred Realty, 7920 ACC Blvd, Suite 210, Raleigh, NC

919-336-1700

Peter@KimaCommercial.com

We look forward to working with you!

$103 Million RECORD HIGH SALE SET IN RALEIGH NC

SkyHouse in Raleigh SOLD for $103 Million

SkyHouse Raleigh NC

SkyHouse Raleigh NC

$103 Million is what the investment firm, World Wide Group, out of New York paid for SkyHouse a downtown Raleigh apartment building. The building features 23 stories and 323 units.  It was built in 2014 and at a record $319,000 per unit sales price Raleigh once again sets itself apart as one of the most desirable places to build and invest.

Built originally for $60M with a local developer, Gregg Sandreuter (Beacon Partners) involved in a joint venture with Novare Group (Atlanta, GA) and Batson-Cook Development Co, the project did not last long on the market in it’s search for an investor group to purchase it.  The original partners have been perfecting this model and the SkyHouse concept so much that they intend to open SkyHouse in up to 8 other cities.  The southeast could see 2 more – Charlotte, NC and Atlanta GA.  This is however their first sale.

Looking to invest in the Triangle commercial market?  Want the inside scoop on what’s happening?  Allow our full service team here at Kima Commercial to represent you and EARN your business.  We build relationships that matter.

MISSION: To provide Executive level client care through win-win solutions with a focus on making a difference in all communities in which we do business.  It is the intention of this firm to build our client relationships through effort and results.

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Keller Williams Preferred Realty, 7920 ACC Blvd, Suite 210, Raleigh, NC

919-336-1700

Peter@KimaCommercial.com

We look forward to working with you!