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Land For Second Phase Of Downtown Raleigh Redevelopment Trades For $10M

Land For Second Phase Of Downtown Raleigh Redevelopment Trades For $10M
Peace and West redevelopment Phase 2 site

An affiliate of Kane Realty Corp. and Williams Realty and Building Co. acquired just under 2.2 acres for mixed-use development in the Glenwood South corridor of Raleigh’s CBD.

A partnership between Kane and Williams already owns the adjacent land at Peace and Harrington streets, which is planned to serve as the first phase of the Peace and West redevelopment. 

Phase 1 will consist of a Publix — Downtown Raleigh’s first grocery store — and 417 highrise multifamily units. The just-acquired site will be the second phase of the redevelopment. It is in design and slated to include a mixed-use building with street-level retail and some office space.

HFF marketed the property on behalf of the seller, Harrington Street Partners, with Managing Directors Justin Good and Jeff Glenn, Senior Director Allan Lynch and Director Sarah Godwin on the team.

HFF’s debt placement team representing the buyer consisted of Senior Director Roger Edwards and Senior Managing Director Travis Anderson.