Trending...
- Sexually Abused in a Psychiatric Hospital or Psychiatrist's or Psychologist's Office? CCHR Urges Survivors to Reach Out to It
- Nayarit Strengthens Its Position as a Global Surf Destination; Sayulita to Become Mexico's First Official Surf City
- Healthcare Leaders Publish New Integrated Behavioral Healthcare Guide, Led by Doctors of Behavioral Health
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
- Morrisville & Cary Education Centers Honored with National Award
- AI-Powered Neuropsychiatry, FDA Regulatory Momentum, Commercial Ketamine Launch Position NRx Pharmaceuticals for Potential Breakout Growth in 2026
- Henri-Lloyd Launches Sail Free to Break Down Barriers to Sailing
- Genuine Hospitality, LLC Selected to Operate Hilton Garden Inn Jacksonville JTB/Deerwood Park
- Destination Niagara Launches Game Changing Digital Magazine Redefining How Visitors Experience Niagara Falls
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
- Ricci's Painting & Contracting Expands Home Transformation Services
- CFP, Trauma of Money Specialist Shannah Game Launches YouTube Show Built Around Baking and the Emo
- Alvear Homes Expands 2026 Buyer Education Initiative to Help North Carolina Homebuyers
- Sylvester Anthony III Introduces His Artist Journey with Debut Single "Cherish"
- Boston Industrial Solutions Introduces High-Performance Primer for Bonding Liquid Silicone to Epoxy
- New Comprehensive Guide Unveils the Ultimate Masterlist of Government-Approved Business Funding
- 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
- Connecta Satellite Solutions Ready to Support Emergency Communications Following the Venezuela Earthquake
- Rare 1933 Harold Weston painting will be auctioned to benefit the Keene Valley Library
- $20 Million Revenue Target, Accelerating Growth, 7% Of Outstanding Shares Retired, Clear Path Toward Profitability: VSee Health, Inc N A S D A Q: VSEE
- HomeCentris Home Health Achieves 5-Star CMS Rating
- Adsoptia Launches AI-Powered Optimization Platform for a New Era of Autonomous Marketing Decisions
- 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