Trending...
- Psychiatric Hospitals Fail to Warn Electroshock Patients of FDA-Cited Risks in Estimated $7 Billion Industry
- This Weekend Causeway Cove Country BBQ & Music Festival Returns for Fourth Year, Celebrating America's 250th Anniversary on the Water
- Nayarit Strengthens Its Position as a Global Surf Destination; Sayulita to Become Mexico's First Official Surf City
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
- Healthcare Leaders Publish New Integrated Behavioral Healthcare Guide, Led by Doctors of Behavioral Health
- Marketing Company Helps Local Businesses Stop Renting Leads and Start Building A Permanent System
- Verbica Challenges Panetta to a Televised Debate on the Issues
- Salt Lake City Families Turn to Private Autopsy Services for Faster Answers After Unexpected Loss
- K2 Integrity's U.S. and EMEA Teams Again Recognized in Chambers and Partners 2026 Guides
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
- Heritage at Manalapan Announces New Incentive: Included Finished Basement on Select Homesites
- Leicester UK Manufacturer Tabletop Tyrant Secures Flawless 100% Customer Satisfaction Rating Across 5,800+ Orders
- The Calida Group Announces Promotion of Joshua Nelson to President, Advancing Next Phase of National Growth
- Cango Mobility x Hikvision Announce Strategic Partnership
- HomeCentris Healthcare Signs Definitive Agreement to Acquire S&K Holdings, Expanding Mid Atlantic Platform
- Nayarit Strengthens Its Position as a Global Surf Destination; Sayulita to Become Mexico's First Official Surf City
- Custom Cushions and Sewing Solutions Available in Cleveland County and Surrounding Areas
- Century Fasteners de Mexico Exhibiting at 2026 Farnborough International Airshow
- George Martinez Completes Community Re-distribution Initiative, Returning $5,000 In Campaign Resources To Anchorage Nonprofits
- Mister Omaha Tries The Turf At Lone Star Park
- Andrew D. Levine Releases The Lily Network, an Indian Noir Mystery of Power, Paperwork & Murder
- The Mapping Software Behind America's Viral Maps Just Got Faster and Smarter
- Longevityresearch.ca publishes cross-disease causal analysis quantifying endpoint reduction across 27 diseases
- LEAN Culture Advisor Launches to Help Organizations Build High‑Performance, LEAN Workplace
- Joulescope JS320 Launches to Help Engineers Develop Battery-Powered Devices with Greater Confidence
- Ghanaian Afrobeat Artist Praise Kusi Announces Upcoming EP "After 21:00" Releasing July 3, 2026
- TURRENTINE: A Family Legacy United Through Music
- Save 10 Percent Off Summer Stays at KeysCaribbean Resorts
- Apple Rock Named to Event Marketer's 2026 Fab 50 for Fourth Consecutive Year
- CGI Announces Pre-Order Launch for New Integrated Behavioral Health Book