CHARLOTTE, NC – HFF announces the $9.5 million sale of Carolina Row, a 10.93-acre land site within the Crabtree Valley submarket of Raleigh, North Carolina.
The HFF team marketed the parcel on behalf of a private owner. Kotarides, a Virginia Beach-based real estate company with holdings throughout the Mid-Atlantic, purchased the property.
Carolina Row is located at 4315 Lead Mine Road directly across from the 1.4 million-square-foot Crabtree Valley Mall. Positioned at the confluence of three major thoroughfares, Interstate 440, Glenwood Avenue/U.S. Highway 70 and Creedmoor/Edwards Mills Road, the property is well connected with major employment and residential nodes around North Hills/Midtown Raleigh, downtown Raleigh and Research Triangle Park. Carolina Row is currently improved with a 1960s multi-housing community.
The HFF investment advisory team representing the seller consisted of managing director Justin Good, director Sarah Godwin, senior director Allan Lynch and managing director Jeff Glenn.
Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.
About Kotarides Holdings: Founded in 1963 by Alex and O. Pete Kotarides, Kotarides Holdings has grown into a large, privately held real estate company in the Mid-Atlantic with several million square feet of residential and commercial properties. Its divisions include Corinth Residential, Kotarides Developers, Kotarides Builders and KPM, a real estate management division. The company has projects throughout Hampton Roads, Virginia; Richmond, Virginia; Raleigh, North Carolina; Winston-Salem, North Carolina; and Charlotte, North Carolina. For more information, visit kotarides.com
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.