Trending...
- Desert Mountain Club Earns Prestigious Blue Zones Approved™ Triple Designation, a New Standard for Well-Being in a Luxury Lifestyle Community
- CNCPW Divulga Dados de Liquidez do 1º Trimestre: Confirma 100% de Reservas e Atualiza Protocolos de "Saque CNCPW" Contra Fluxos Ilícitos
- HELM Audio™ Partners with PQCrypto to Future-Proof Children's Hearing and Safety Data Using Post-Quantum Cryptography
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
- Regional Real Estate Powerhouse
- A Valentine's Experience at Project 1610
- Wall Street Is Missing This One: Cycurion (NAS DAQ: CYCU) Gets $7 Price Target While Trading at a Steep Discount
- Aries Industries Streamlines Sewer Inspection Process With Introduction of the LETS Sidewinder
- Chronic Boss Awards Scholarships to Student Founders Living with Chronic Conditions
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
- Wala Blegay to Announce Run for Congress in Maryland's 5th District on Feb. 4
- Nufabrx Raises $5M in Oversubscribed Round Led by Meltzer Capital
- Luxury Lake-View Home Launches in Kissimmee's Bellalago community, Offering Privacy, Space, and Florida Resort-Style Living
- Sleep Basil Launches Revamped Diamond Mattress Collection Page, Highlighting Performance, Craftsmanship, and Personalized Comfort
- Sleep Basil Curates a Clearer Brooklyn Bedding Experience for Performance-Minded Denver Sleepers
- Nevada Man Launches Nationwide Animal Abuse Registry
- Star-powered Kappa Takeover Weekend Returns to the DMV June 18- 21, 2026, Hosted By Comedian Joe Clair W/ Dj Quick Silva (the Party Kingpin)
- Scoop Social Co. Wins The Knot and WeddingWire Awards as Brand Expands Nationwide
- Denise Murphy Lenci Promoted to Century Fasteners Corp. – General Manager, Northeast Sales
- TiNY Puts Real Pets on the Payroll for New PetArmor Campaign
- P‑Wave Classics Launches Definitive New Edition of Hannah Webster Foster's The Coquette
- Strategic Expansion with 3 New Alliances — Jefferson Beach Yacht Sales, CFR YS & flyExclusive Incentive Partnership: Off The Hook YS: (N Y S E: OTH)
- Super League (N A S D A Q: SLE) Advances AI-Driven Playable Media with AdArcade, Solsten, and Meta-Stadiums Partnerships, Plus Roblox Theatre Launch
- purelyIV Expands Concierge Wellness Platform with New IV Therapies, Memberships, and Digital Experience
- CCHR: Europe Rejects Forced Psychiatry—Landmark Vote Declares Coercive Practices Incompatible with Human Rights
- Crossroads4Hope Kicks Off Its 25th Year of Caring with the Launch of Free Breast and Colorectal Cancer Resources for Patients and Families Nationwide
- OpenSSL Corporation Advisory Committees' Elections 2026: Voting Now Open
- Good Vibes Club and Instant IP Forge Strategic Partnership to Secure IP Brand Value in a Booming Digital Economy
- Inkdnylon Simplifies Digitizing and Vector Art Nationwide With Clear Pricing and Guided File Support
- goldsilbermarkt.de Awarded "Business Champion" in Online Retail by DISQ