Downtown Marriott opens in Raleigh : WRAL.com
$75M Hotel will hold grand opening at Raleigh Wide Open event.
The 16-story hotel features 400 rooms, including 20 suites, and more than 15,000 square feet of meeting space, including a 9,000-square-foot Grand Ballroom.
Owner: Atlanta based Noble Investment Group, Mitesh "Mit" Shah, President. WFU Grad.
Thursday, August 28, 2008
RDU Terminal 2 to Open Oct 26
Commercial Real Estate News
$570M terminal to open to the public.
"The 550,000-square-foot first phase of Terminal 2 has been built where the old north concourse of Terminal C used to stand. The section of Terminal C being vacated Oct. 25 will be torn down and rebuilt as the south concourse of Terminal 2. The project is to be completed in 2011."
Airport authority member Rob Teer calls the opening of the terminal a monumental time in the airport's history. Addressing the complexity of the project, Teer says, "What we've done with this terminal is really kind of a miracle."
$570M terminal to open to the public.
"The 550,000-square-foot first phase of Terminal 2 has been built where the old north concourse of Terminal C used to stand. The section of Terminal C being vacated Oct. 25 will be torn down and rebuilt as the south concourse of Terminal 2. The project is to be completed in 2011."
Airport authority member Rob Teer calls the opening of the terminal a monumental time in the airport's history. Addressing the complexity of the project, Teer says, "What we've done with this terminal is really kind of a miracle."
Lorian Buys Raleigh Office for $2.7M
Lorian Buys Raleigh Office for $2.7M - CoStar Group
Address: 4109 Wake Forest Rd
Price: $2.75M ($81/SF)
Size: 34,038SF
Built: 1975
Buyer Agent: Charles Rankin of Grubb Properties
Seller Agent: Jason Stowe of Income Properties
Address: 4109 Wake Forest Rd
Price: $2.75M ($81/SF)
Size: 34,038SF
Built: 1975
Buyer Agent: Charles Rankin of Grubb Properties
Seller Agent: Jason Stowe of Income Properties
AIMCO Deals Durham Apt. Complex for $9.3M - CoStar Group
AIMCO Deals Durham Apt. Complex for $9.3M - CoStar Group
Summary:
Name: Windsor at South Square
Units: 230 (24 one bedroom apts; 138 two-bedroom apts)
Location: 3300 Shannon Rd., Durham, NC
Size: 205,500 SF on 19 acres
Price: $9.3M or $40,000/unit
Buyer: PRG Real Estate Management
Seller: AIMCO
Summary:
Name: Windsor at South Square
Units: 230 (24 one bedroom apts; 138 two-bedroom apts)
Location: 3300 Shannon Rd., Durham, NC
Size: 205,500 SF on 19 acres
Price: $9.3M or $40,000/unit
Buyer: PRG Real Estate Management
Seller: AIMCO
Wednesday, August 27, 2008
Thursday, August 21, 2008
RBC Plaza Lights Up Tonight
Raleigh Chronicle/Raleigh Downtowner
Tonight at 9pm, Big Ed Fritsch and Scott Custer will flip the switch to illuminate the RBC signs and spire atop Raleigh's tallest building.
Grand Opening is a few weeks away.
Tonight at 9pm, Big Ed Fritsch and Scott Custer will flip the switch to illuminate the RBC signs and spire atop Raleigh's tallest building.
Grand Opening is a few weeks away.
Tuesday, August 19, 2008
Sign the Apocalypse is Upon Us
The Greater Raleigh Chamber of Commerce recently announced Ben Stein as the keynote speaker for this year's annual meeting. Pretty cool, I thought, I'm in... until I read down and there's an $85 cover charge. Whoa, I dig Big Ben but that seems steep.
Then I look for a little perspective. John Mayer, whose music I have recently developed an affinity for is also in town this month. His show cost $50. By the time you figure in service charges and parking Mayer is still cheaper than Stein.
What are we coming to?
Related Links
Ben's House - The Official Ben Stein Home Page
John Mayer 2008 Summer Tour
Then I look for a little perspective. John Mayer, whose music I have recently developed an affinity for is also in town this month. His show cost $50. By the time you figure in service charges and parking Mayer is still cheaper than Stein.
What are we coming to?
Related Links
Ben's House - The Official Ben Stein Home Page
John Mayer 2008 Summer Tour
Wednesday, August 06, 2008
Hatem Given Second Extension on L-Building
The Raleigh City Council voted yesterday to give Raleigh's Downtown Redevelopment Guru Greg Hatem an extension on the L-Building Project. Hatem reports there are several financial backers looking at the deal but no one has committed so far and he needs more time. Citing Greg's positive influence on Raleigh, Mayor Meeker spoke in support of the request. City Manager Russell Allen recommended ending the contract and opening the bidding up to the public.
The L Building was originally conceived as beautifully designed 22 story tower featuring 11,000SF of retail and 110,000Sf of Class A Office wrapped around a 900+ space parking deck. This plan may change now to a smaller office and boutique hotel in order to get it financed.
This is the second such extension Hatem has received. This time the City went further and agreed to waive the development fee required to widen the road as well.
It is nice to see a relationship carry the day in this harsh economic environment. Greg has until November 1st now to line up financing. To me this speaks to just how tough it is for private developers to raise money for real estate development right now. If Greg Hatem can't get a downtown deal funded, who can?
The L Building was originally conceived as beautifully designed 22 story tower featuring 11,000SF of retail and 110,000Sf of Class A Office wrapped around a 900+ space parking deck. This plan may change now to a smaller office and boutique hotel in order to get it financed.
This is the second such extension Hatem has received. This time the City went further and agreed to waive the development fee required to widen the road as well.
It is nice to see a relationship carry the day in this harsh economic environment. Greg has until November 1st now to line up financing. To me this speaks to just how tough it is for private developers to raise money for real estate development right now. If Greg Hatem can't get a downtown deal funded, who can?
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