Heatherwood Apartment Homes

  • New York Opportunity Fund Closes on $5.2M Acquisition of Long-Vacant Downtown Building

    In a $5.2 million deal, real estate investor Howard Lavitt and his partners at LRC Opportunity Fund of New York have acquired the long vacant, 11-story office building in downtown Raleigh. The Triangle Business Journal reports that the transaction closed on Dec. 21. Ben Kilgore with CBRE in Raleigh represented the sellers, New York businessmen Morton Rosenfeld and Milton Schwartz. Located at 227 Fayetteville Street, the 100,000-square-foot property has been empty since its former tenant, Wachovia Bank, moved out in 2003. Wachovia developed the building in 1964, after signing a 50-year ground lease with the owners of the lot. The contract expired in January 2011 and the ownership of the structure was transferred to the land owners’ heirs. Plans now call for the interior renovation of the building, which should be complete by the fourth quarter of 2013. Project manager Steve Weitnauer with Solutions PDM is in charge with the demolition and reconstruction, while Davidson and Jones C

    Raleigh Durham 11 January 2013 20:11

You May Also Like

  • Novel Coworking Expands in Minneapolis

    The company acquired its second office property in the metro—a nine-story building located in the Gateway District—from DCI Technology Holdings.

    23 October 2018 17:43
  • Missner Group Breaks Ground on Illinois Industrial Project

    The 173,000-square-foot 88 Orchard in Aurora will be located on a 9.7-acre site and will feature 32-foot clear heights and a 12-trailer parking lot. Construction is scheduled for completion by spring 2019.

    10 August 2018 11:38
  • GEICO Plans New Digs in Tucson

    The private passenger auto insurance company broke ground on a new office building in Arizona, which is slated to open late next year.

    25 September 2018 13:32
  • 2018 Retail Construction Starts

    Year-over-year comparison of retail building construction starts across the top 10 metros, updated twice a year.

    13 September 2018 14:40
  • South Bay Office Asset Nets $180M

    A joint venture between Northwestern Mutual and McCarthy Cook purchased the Class A Mountain View property, which contains nearly 115,000 square feet across three buildings.

    21 August 2018 11:44