We are pleased to announce Frank Quinn as APG’s Dealmaker of the Month, for his seller representation in the sale of two land deals of note.
Davis Park East in Durham. Over ten years ago, Frank Quinn represented Research Triangle LTD, the investment land purchaser of a mixed-use property in Durham, North Carolina, known as Davis Park East. The land parcel, which consisted of over 93 acres, was fully entitled and zoned for 1,800 multifamily and residential units, plus the opportunity for commercial and hospitality development.
Since the initial acquisition, Frank has represented the owners in the sale of multiple land Pods within the community, for example, to Pulte Homes, Lee Property Group and Davis Development.
The most recent sale, 3+ acres, is planned for 270 luxury apartment units, another welcome addition to the already regionally recognized best in class development.
Location: Durham, adjoins RTP, Merrion Ave, at Hopson and Davis Drive
Price: $5,700,000
Total Representation including acquisition, sales volume to date approaches $36 million.
Old Crews Road in Knightdale. Frank Quinn represented the seller in the sale of a 25-acre tract in Knightdale, at 1620 Old Crews Road. The 25-acre tract, which sold for $1,000,000 in August, is part of a 286.5-acre multi-tract assemblage purchased by Arizona-based Trigate-Suncrest Brio West, LLC.
A rezoning request was approved by the Town of Knightdale in July 2022, allowing up to 900 single-family, townhome, and multi-family units along Old Crews, Buffaloe and Lucas Roads. The master plan includes some age-restricted lots and several acres along Buffaloe road approved for commercial space.
Proposed single-family dwellings will feature a minimum of 1,600 to 2,400 square feet. Townhomes will feature a minimum of 1,400 square feet.
A variety of recreational open space amenities are provided throughout the development, including two pool and clubhouse sites. In total 32.7 acres is dedicated to recreational activities.