CBRE|Raleigh announces strong transaction volume brokered in 2017, completing 503 transactions valued at $2.22 billion. At the Triangle Business Journal’s 2018 Space Awards in January, it was announced that CBRE|Raleigh brokered numerous of the top deals recorded in 2017 amongst office, retail, flex/warehouse and land property types.
“In 2017, we enjoyed another secure year of activity in the market across all property types,” said Tom Fritsch, Managing Director of CBRE|Raleigh. “We are grateful to be a part of this active and growing market, and we appreciate the clients we had the opportunity to serve.”
CBRE|Raleigh was recognized for being a part of the following transactions or developments:
#1 Top Sales Transaction
GSK’s former 1,716,040-square-foot laboratory and office campus in RTP, NC was purchased by Karlin Real Estate.
#2 Top Sales Transaction
Regency Lakeview, a 376,131-square-foot office park in Cary, NC was purchased by The Dilweg Companies.
#3 Top Sales Transaction
Regency Office Park, a 387,987-square-foot office park in Cary, NC was purchased by Alidade Capital.
#1 Top Flex Lease
The City of Raleigh renewed 23,840 square feet and leased an additional 54,905 square feet at One North Commerce Center in Raleigh, NC.
#1 Top Warehouse Lease
Hatchbeauty Laboratories leased 125,864 square feet at Research Tri-Center North III & IV in Durham, NC.
#3 Top Warehouse Lease
Veritiv Operating Company leased 165,000 square feet at 1070 Waterfield Drive East in Garner, NC.
#3 Top Office Lease
WeWork leased 81,032 square feet at One Glenwood in Raleigh, NC.
#3 Top Retail Lease
O2 Fitness leased 23,000 square feet at Holly Springs Towne Center in Holly Springs, NC.
Top Mixed-Use Development
Carolina Square is composed of 159,000 square feet class A office, 42,000 square feet retail and 246 apartment units in downtown Chapel Hill, NC off Franklin Street. It is owned by Northwood Ravin and Cousins Properties.
Top Flex/Warehouse Development
Eastgate540 will be a 968,000-square-foot, 6-building, multi-tenant industrial park in Knightdale, NC owned by Scannell Properties.
Top Retail Development
Target on Hillsborough Street owned by Loden Properties is Raleigh’s first flexible format Target. The 22,211-square-foot store is adjacent to North Carolina State University and includes shop space and covered deck parking.
Top Hospitality/Entertainment Development
Unscripted Hotel is a transformation of the former Jack Tar Motel in downtown Durham, NC. Austin Lawrence Partners redeveloped the site into a boutique hotel with 10,654 square feet of ground floor retail and 74 hotel rooms.
CBRE|Raleigh is a CBRE office serving the Triangle region and is a joint venture between local principals and CBRE Group, Inc. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2017, the Raleigh office completed $2.2 billion of sales and leasing transactions. Please visit our website at www.cbre.us/raleigh.
About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $4.3 billion of sales and leasing transactions in 2017.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.