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NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
PINE HOLLOW MIDDLE SCHOOL
GLENWOOD AVENUE
LEESVILLE ROADLEESVILLE TOWNE CENTRE
114,000 SF Retail Center
OPENING 2018
SYCAMORE CREEK ELEMENTARY SCHOOL
WILLIAM B. UMSTEAD STATE PARK
RDU INTERNATIONAL AIRPORT
BRIER CREEK MASTER PLANNED COMMUNITY
± 1M SF Retail± 2,200 Single Family Homes
LEESVILLE GROVE$475,000 - $550,000sPINECREST PARK
$300,000 - $650,000s
CALL FOR OFFERS DUE FEBRUARY 22ND, 2019W
Carlton Midyette, IIISenior Vice President+1 919 831 [email protected]
Tiffany HilburnAssociate+1 919 831 [email protected]
CBRE|Raleigh555 Fayetteville StreetSuite 800Raleigh | NC 27601+1 919 831 8200
Affiliated Business Disclosure
CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.
Confidentiality Agreement
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.
This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.
Neither the Owner or CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company., nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.
The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate dis-cussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CB Richard Ellis-Raleigh, LLC, a Dela-ware limited liability company.
Disclaimer
© 2019 CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company. The information contained in this document has been obtained from sources believed reliable. While CB Richard Ellis-Raleigh, LLC, a Delaware limited liability company, does not doubt its accuracy, CB Richard Ellis-Raleigh, LLC has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
RESIDENTIAL DEVELOPMENT OPPORTUNITY IN NORTH RALEIGH
Approximately 18.81 acres
Zoned Residential-4 (R-4)
Current zoning allows a development density of up to four units per acre
City of Raleigh’s 2030 Comprehensive Plan calls for Moderate Density
Residential, allowing a development density of six to fourteen units per acre
City of Raleigh water and sewer
Property is located at the Leesville Road/I-540 interchange, providing
convenient access throughout the Triangle Region
Recent Phase I ESA, Alta Survey and Wetland Delineation Study completed
For due diligence files, click here
All offers due on or before February 22nd, 2019
PROPERTY FEATURES
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
LEE
SV
ILLE R
OA
D
FARMRIDGE ROAD
STREAM 2SUBJECT TO BUFFERS
STREAM 1SUBJECT TO BUFFERS
STREAM 3SUBJECT TO BUFFERS
DITCHNOT SUBJECT TO BUFFERS
NOT JURISDICTIONAL
STREAM 1SUBJECT TO BUFFERS
WETLAND AWETLAND B
WETLAND C
WETLAND C50' NEUSERIPARIAN BUFFER
REVIEW AREA
S-3 START
S-1 START
S-1 STOP
BUFFERED STREAM START
RIP RAP CHANNELNOT SUBJECT TO BUFFERS
NOT JURISDICTIONAL
10805 LEESVILLE ROAD APPROVED WETLAND/BUFFER
RALEIGH WAKE COUNTY NORTH CAROLINA
1 inch = 200 ft.
GRAPHIC SCALE0 100 200
WithersRavenelEngineers | Planners | SurveyorsDELINEATION EXHIBIT
NOTES:2) BUFFER DETERMINATION (NBRRO#18-324) ISSUED BY STEPHANIE GOSS ON 09.26.2018.3) DELINEATION AND JURISDICTIONAL STATUS VERIFIED BY ROSS SULLIVAN OF THE
USACE ON 10.10.2018.4) WETLAND/STREAM/BUFFER LOCATIONS ARE APPROXIMATE, BASED ON GPS LOCATION,
WAKE CO. GIS DATA AND TOPOGRAPHIC INTERPRETATION.
REC
ENT
WET
LAN
D
DEL
INEA
TIO
N S
TUD
Y
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
WESTWIND$200,000s - $365,000s
WYNBROOKE$290,000s - $440,000s
HARRINGTON POINTTOWNHOMES
$200,000s - $350,000s
DOWNTOWN RALEIGH
STRICKLAND ROAD
LEESVILLE RO
AD
LEESVILLE TOWNE CENTRE114,000 SF Retail Center
OPENING 2018
RDU INT’L AIRPORT
PINE HOLLOW MIDDLE SCHOOL
LEESVILLE ROAD HIGH SCHOOL &
ELEMENTARY SCHOOL
PINEBROOK HILLS$500,000s - $565,000s
CARY
CRABTREE VALLEY MALL
S
WILLIAM B. UMSTEADSTATE PARK
´
GarnerApex
Cary
Durham
WakeForest
Raleigh-DurhamInt’l Airport
William B UmsteadState Park
RESEARCH TRIANGLE
PARK
540
440
540440
40
40
85
Raleigh
6464
1
1
70
70
40
624
501
401
401
50
54
55
147
751
55
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
10805 LEESVILLE ROAD
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
MULTIFAMILY COMPARABLE SET
PROPERTYPROPERTY
TYPESUBMARKET # UNITS OCCUPANCY
ASKING RENT/UNIT
ASKING RENT/SF
AVERAGE UNIT SIZE
ALLISTER NORTH HILLS430 ALLISTER DRIVE, RALEIGH, NC
Built: 2014
GardenCentral Raleigh
434 90% $1,182 $1.37 864 SF
CLAIRMONT AT BRIER CREEK7651 BRIER CREEK PARKWAY, RALEIGH, NC
Built: 2014
GardenNorthwest Raleigh
432 92% $1,100 $1.08 1,016 SF
JUNCTION SIX FORKS110 TALISMAN WAY, RALEIGH, NC
Built: 2014
GardenNorth
Central Raleigh
262 94% $1,059 $1.10 965 SF
LEIGH HOUSE2421 LANDMARK DRIVE, RALEIGH, NC
Built: Under Construction
GardenNorthwest Raleigh
245 34% $1,318 $1.61 821 SF
POST PARKSIDE AT WADE II5443 WADE PARK BLVD., RALEIGH, NC
Built: 2017
Garden Cary 406 96% $1,202 $1.32 913 SF
SOJOURN LAKE BOONE3712 HORTON STREET, RALEIGH, NC
Built: 2017
GardenCentral Raleigh
283 88% $1,593 $1.56 1,023 SF
WATERSTONE AT BRIER CREEK10022 MEADOW CHASE DR., RALEIGH, NC
Built: 2014
GardenNorthwest Raleigh
232 95% $1,194 $1.05 1,137 SF
MERIDIAN AT SUTTON SQUARE811 SPRING FOREST ROAD, RALEIGH, NC
Built: 2017
GardenNorth
Central Raleigh
188 85% $1,328 $1.35 981 SF
CITY FOR BUSINESS AND CAREERS
July 2015 | Forbes
METRO FOR ECONOMIC GROWTH
August 2015 | Business Facilities
1BEST BIG CITIES IN THE SOUTHEAST
September 2016 | Money Magazine
TOP 6
MID-SIZED AMERICAN CITY OF THE FUTURE
April 2015 | Financial Times
1
FASTEST GROWING LARGE U.S. CITY FROM 2010 TO 2030
August 2014 | United Nations
2
12 TOP DESTINATIONS OF 2017
January 2017 | Forbes Travel Guide
TOP 12
3
NORTH RALEIGH RESIDENTIAL OPPORTUNITY10805 LEESVILLE ROADRALEIGH, NORTH CAROLINA
Carlton Midyette, IIISenior Vice President+1 919 831 [email protected]
Tiffany HilburnAssociate+1 919 831 [email protected]
CBRE|Raleigh555 Fayetteville StreetSuite 800Raleigh | NC 27601+1 919 831 8200
NFALLS LAKE
LEESVILLE ROAD
FYNLAND$600,000s - $750,000s
BARTON’S CREEK BLUFFS$315,000s - $425,000s