Trending...
- Conexwest Delivers Custom Shipping Container MRI Lab, Saving California Hospital an Estimated $9 Million in Renovation Costs
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
- Sleep Basil Unveils Revamped Natural Latex Mattress Collection Page for Cooler, Cleaner, Better-Aligned Sleep
DURHAM, N.C. ~ Marcus & Millichap, a leading commercial real estate brokerage firm, recently announced the sale of Kelby Farms, a 277-unit multifamily property in Durham, North Carolina. The $84.75 million sales price equates to $305,957 per unit. John Daly of Marcus & Millichap's Raleigh office represented the buyer, King Properties, a regional owner/operator.
Daly noted that the multifamily market in Raleigh-Durham is poised for long-term growth as tech firms like Meta and Apple expand in the region. He also pointed out that Kelby Farms is located between Duke University and University of North Carolina at Chapel Hill, providing it with a large renter pool including many healthcare professionals from the area's research and teaching hospitals. At the time of sale two of the property's 10 buildings were still under construction and scheduled for completion in October. The completed portion was 70% occupied at the time of sale, indicating strong demand for new apartment assets in Raleigh-Durham.
More on ncarol.com
Kelby Farms is within a short commute of Downtown Durham, Downtown Chapel Hill and Research Triangle Park. The grocery-anchored Patterson Place shopping plaza is within walking distance while additional shopping, restaurants and entertainment are close by on Durham-Chapel Hill Boulevard and at Southpoint Mall. The property features resort-style swimming pool, fitness center, workstations, study areas and game lounge as well as studio, one-, two- and three-bedroom apartments with full-size washers and dryers, large closets and patio or balcony with an average unit size of 1,001 square feet.
Daly noted that the multifamily market in Raleigh-Durham is poised for long-term growth as tech firms like Meta and Apple expand in the region. He also pointed out that Kelby Farms is located between Duke University and University of North Carolina at Chapel Hill, providing it with a large renter pool including many healthcare professionals from the area's research and teaching hospitals. At the time of sale two of the property's 10 buildings were still under construction and scheduled for completion in October. The completed portion was 70% occupied at the time of sale, indicating strong demand for new apartment assets in Raleigh-Durham.
More on ncarol.com
- Why One American Manufacturer Builds BBQ Smokers to Aerospace Standards
- Diversified Roofing Solutions Strengthens Industry Leadership With Expanded Roofing Services Across South Florida
- ZRCalc™ Cinema Card Calculator Now Available for Nikon ZR Shooters
- Mountaineer Heating & Cooling Announces Expanded HVAC Services for High Country Homes and Businesses
- Revolutionary Data Solution Transforms Health Insurance Underwriting Accuracy
Kelby Farms is within a short commute of Downtown Durham, Downtown Chapel Hill and Research Triangle Park. The grocery-anchored Patterson Place shopping plaza is within walking distance while additional shopping, restaurants and entertainment are close by on Durham-Chapel Hill Boulevard and at Southpoint Mall. The property features resort-style swimming pool, fitness center, workstations, study areas and game lounge as well as studio, one-, two- and three-bedroom apartments with full-size washers and dryers, large closets and patio or balcony with an average unit size of 1,001 square feet.
Filed Under: Business
0 Comments
Latest on ncarol.com
- Florida Keys Visitors Can Save 15 Percent With KeysCaribbean's Advanced Booking Discount
- Sleep Basil Unveils Revamped Natural Latex Mattress Collection Page for Cooler, Cleaner, Better-Aligned Sleep
- Conexwest Delivers Custom Shipping Container MRI Lab, Saving California Hospital an Estimated $9 Million in Renovation Costs
- DASH Carolina RDU Sets the Pace in 2025 with Record-Breaking Sales and Team Excellence
- Wespor Business Launches AI Voice and Chat Agents to Help Triangle Small Businesses Capture Missed Leads
- America's Boating Club Ushers in New Board at Change of Watch
- FDA Meeting Indicates a pivotal development that could redefine the treatment landscape for suicidal depression via NRx Pharmaceuticals: $NRXP
- $2.7 Million 2025 Revenue; All Time Record Sales Growth; 6 Profitable Quarters for Homebuilding Industry: Innovative Designs (Stock Symbol: IVDN)
- CCHR: Decades of Warnings, Persistent Inaction; Studies Raise New Alarms on Psychiatric Drug Safety
- PRÝNCESS Builds Anticipation With "My Nerves" — A Girls-Girl Anthem
- Arbutus Medical Raises C$9.3M to Accelerate Growth of Surgical Workflow Solutions Outside the OR
- From Sleepless Nights to Sold-Out Drops: Catch Phrase Poet's First Year Redefining Motivational Urban Apparel
- Cold. Clean. Anywhere. Meet FrostSkin
- How Specialized Game Development Services Are Powering the Next Wave of Interactive Entertainment
- Don't Settle for a Lawyer Who Just Speaks Spanish. Demand One Who Understands Your Story
- Dan Williams Promoted to Century Fasteners Corp. – General Manager, Operations
- Ski Johnson Inks Strategic Deals with Three Major Food Chain Brands
- NIL Club Advances Agent-Free NIL Model as Oversight Intensifies Across College Athletics
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
- Apostle Margelee Hylton Announces the Release of Third Day Prayer