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Excelsior Classical Academy Buys Signature Commons in Durham for $7.5 Million
Excelsior Classical Academy, a tuition-free public charter school, acquired the Signature Commons in Durham, NC from a private investor taking title as Beaches West Development Ltd. for $7.47 million, or about $47 per square foot. The public charter...

Office Rents in Raleigh Currently Among Nation’s Fastest Growing
Pictured: Midtown Plaza in Raleigh, NC In the past 12 months, national office rents have increased by roughly 1.7 percent in metropolitan areas across the country. But in Raleigh, NC, they have grown at more than triple that rate, climbing more than...

Phoenix Realty Group Picks Up Beech Lake in Durham for $37.2 Million
New York-based investor Phoenix Realty Group (PRG) acquired the 345-unit Beech Lake apartment complex in Durham, NC from North Bethesda, MD-based CAPREIT for $37.2 million, or about $108,000 per unit. Built in 1987, the 30-building community is situated...

UPDATED: IKEA Calls Off Plans for Big Box Stores in Three US Markets
After opening 27 stores in the U.S. in the past 15 years, iconic Swedish component-furniture retailer IKEA has called off expansion plans in three markets while it considers making potentinally far-reaching changes to its growth plans in a rapidly changing...

Raleigh/Durham’s Wave of Office Construction is Strong
The Dillon, a 267,000-square-foot office/residential complex in downtown Raleigh, NC. Of the 390 markets that CoStar actively tracks for reporting purposes, Raleigh/Durham cracks the top 15 list for office construction as a percentage of volume at 3...

Blue Heron to Develop 164-Unit Multifamily Complex in Durham
Raleigh, NC-based Blue Heron Asset Management secured a construction loan with First National Bank (FNB) to develop Foster on the Park, a multifamily complex at 545 Foster St. in Durham, NC. Roger Edwards, Justin Good and Henry Sisson of HFF arranged...

Paradigm Park Office Campus Trades for $16.3 Million
Charlotte, NC-based Grubb Properties, along with its equity partner Blue Vista Capital Management, sold the 147,777-square-foot Paradigm Park office campus in Durham, NC for $16.3 million, or about $110 per square foot. The partnership sold the office...

Cedar Grove Capital Pays $9.3 Million for Lake Ridge Apts. in Apex
Long Island, NY-based multifamily investor Cedar Grove Partners acquired the 93-unit Lake Ridge Apartments in Apex, NC from the Tar Heel Cos. of North Carolina, Inc. for $9.3 million, or approximately $100,000 per unit. Built in 1985, the multifamily...

KDC Breaks Ground on Credit Suisse Expansion Project in RTP
KDC, a national build-to-suit developer headquartered in Dallas, broke ground on the Credit Suisse Research Triangle Park (RTP) expansion project in Morrisville, NC. Located at the corner of Louis Stephens Dr. and Kit Creek Rd., the expansion project...

RSM Takes 17,000 SF in West Raleigh
RSM, an audit, tax and consulting services provider, signed a 17,234-square-foot office lease deal at 5444 Wade Park Boulevard in Raleigh, NC. Slated to take occupancy this December, The Chicago-based company's new space is located within Wade IV...

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