The North Carolina commercial real estate market has done a fine job of weathering the last few years of upheaval. In fact, demand for commercial real estate in the Triangle remains strong despite the economic fallout from COVID-19, which has hit many businesses and led to many firms embracing work-from-home strategies.
Some of the reasons for this include companies attempting to locate offices further away from dense urban areas in avoidance of pandemic worries, as well as costs and talent.
To further examine the region, APG Advisors has compiled some of the commercial real estate news highlights and attention-grabbing headlines around Raleigh-Durham in order to shine a light on the current state of the North Carolina real estate market.
North Carolina Commercial Real Estate News Roundup Q3 2021
Charlotte firm buys former Aldi grocery store in Raleigh for $2.1 million
Crosland Southeast bought a space of over 15,000 square-foot in Raleigh, which housed an Aldi grocery store for many years before the store relocated in 2019. Read More
$111 million deal closes for three industrial facilities in Raleigh-area park
Trinity Capital Advisors has sold the first three of what will be seven buildings at Eastgate 540, a trophy-quality industrial park that will soon span 1.2 million square feet in metropolitan Raleigh, N.C. The properties were sold to BentallGreenOak. Read More
Developers seek to build two 40-story towers in downtown Raleigh’s Warehouse District
The two proposed structures in Raleigh, NC’s Warehouse District could stretch to 40 stories and if approved, could be the tallest buildings downtown. Read More
APG Advisors Represent Seller of Durham’s BB&T Plaza in $7.6M Transaction
The 47,000-square-foot office and retail development in Durham has been taken off the market after being snapped up for $7.6 million. Read More
Raleigh skyline awaits addition of another 20-story tower
Construction of a new 365,000 square-foot mixed-use development in Raleigh is now underway. Located at 400 Hillsborough Street, the 20-story tower will include 150,000 square feet of Class A office space and 242 luxury residential units, as well as 16,000 square feet of retail space on the ground level. Read More
North Carolina Industrial Portfolio Purchased for $71 Million
Rialto Capital Management has sold a four-property, 869,916-square-foot industrial portfolio in Charlotte, N.C. and Durham, N.C., after three years of ownership. DRA Advisors paid $71 million for the asset. Read More
Durham Again Looking for Developer for Former Police HQ
The City of Durham is taking another crack at finding a developer to breathe new life into the former Durham Police Headquarter downtown after terminating its contract with its previously selected developer earlier this year. Read More
Raleigh Firm Plans 40-story Rezoning for Glenwood South HQ site
A Raleigh-based digital marketing company appears to be planning big changes for a collection of properties in Glenwood South. Read More
CRC Adds To North Carolina Multifamily Portfolio With $76 Million Purchase in Wilmington
The Reserve at Mayfaire, an upscale 264-unit multifamily community was acquired on behalf of Continental Realty Fund V, a $210.8 million private equity Fund that has purchased 12 assets. Read More
Postal Service delivers big tenant for Hope Mills industrial park
The Postal Service has signed a lease to operate a distribution center in a new 178,200-square-foot facility, the first of four buildings planned for the Liberty Point industrial park. The location is on Corporation Drive, adjacent to the area of Interstate 95 that is part of Hope Mills. Read More
California real estate firm pays $91M for 100 acres in RTP
California real estate giant Alexandria Real Estate Equities has made its latest land grab in Research Triangle Park with the purchase of a massive build-to-suit site. Read More
Boston firm snags 75 acres in Morrisville ready for up to 1M square feet of development
After Morrisville made drastic changes to open the doors to developers, a global firm has swooped in with plans for up to 1 million square feet of life science space. Read More
Looking to buy, sell, or lease commercial real estate in North Carolina? Get in touch with the team at APG Advisors to see what real estate assets are available, whether you’re looking for land, retail, office, industrial, flex, or special use space. Our team of experts is ready and waiting.