Macon Pond Road Assemblage
Raleigh, North Carolina
TRANSACTION VALUE
$5 Million
TRANSACTION TYPE
Investment sale
PARTY REPRESENTED
Owner
SIZE
4.32 acres
Zoned residential in the Rex Hospital area of Raleigh.
Four parcels of land that were owned by eight relatives sold to a local medical developer without any concession made by the sellers.
Challenge
Four parcels totaling 4.32 acres in the Rex Hospital area were zoned residential. The Owners sought guidance on how to position and market the property to maximize the sale proceeds.
Action
Avison Young deemed a medical office building to be the highest and best use. On behalf of the seller, our team engaged an engineer to draft a constraints analysis to calculate buildable area and determine the maximum achievable building size.
Results
Our team secured an offer for the assemblage totaling $5,000,000 by approaching a local medical developer before the property ever went to the broader market.
The three most important strengths Janet provided were: her respected relationships with the highest qualified buyer prospects; her knowledge of comparable market values to assist in setting the sale price and negotiations; and her professional skills of communication, organization and follow through to a successful closing.
ADDITIONAL EXPERIENCE
Cary Medical Pavilion
Transaction Type: Investment Sale
66,928 sf | Two multi‐tenant medical office buildings for sold for $8.9M to a regional investor for a partnership of local physicians.
Allergy Partners
Transaction type: Lease
7,162 sf | Creative solution to secure a lease space and accommodate client's expansion requirements with over $500K in savings to the tenant.
205 Frasier Street
Transaction type: Sale-leaseback
15,542 sf | Facilitated sale‐leaseback of their Durham location on behalf of a physician's group to a 1031 exchange investor.
Smile Design
Transaction type: Lease
3,642 sf | On behalf of landlord, Avison Young secured an established, strong credit tenant who committed to a 10-year lease with no down time.
