Trending...
- Allstream Energy Partners Nominated in Multiple Categories for Fast Company's Best Workplaces for Innovators
- Congressman Chuck Edwards (NC-11) Presents ReadyCommunities Partnership 2026 National Service Award to Local Businessman / US Air Force Veteran
- Gabby Press Earns High Praise From Feathered Quill About the Unregulated Dangers of Second Generation Corporate AI
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
- Santa Your Way Announces Official 2026 Q4 Holiday Tour: Booking Open For Santa, The 5-star Grinch, And Dual Character Experiences Nationwide
- Put Your Herd on Your Phone: Kiko Nation Makes Livestock Management Simple
- Future Intelligence Think Tank Surpasses 1,000 Members Exploring Human and Artificial Intelligence
- Gary Bernstein Expands Media Leadership Role With Senior Strategic Advisor Appointment To Blacksun Private Equity
- Headline: House of Nova Paints Every Face in Gold at New York Fashion Week
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.
0 Comments
Latest on ncarol.com
- One Mile North of 8 Mile: KayeDinero Connects Detroit and Asheville on "Nine Mile"
- Gabby Press Earns High Praise From Feathered Quill About the Unregulated Dangers of Second Generation Corporate AI
- Canadian Tint Expo 2027: Why Every Window Tinter Should Compete in Niagara Falls on April 3rd & 4th
- Detroit Roots, Film Scores and Python Shape KayeDinero's Asheville Sound
- Building a Diversified Healthcare Platform as Exosome Science, Telehealth, Diagnostics & Strategic Acquisitions Converge: NexTel Medical (OTCID: MAJI)
- Most Indiana Plane Crashes Happen Away from the State's Major Airports
- L2 Aviation Welcomes Jason Marshall as Vice President of Sales and Business Development
- Mom Era, Still That Girl: Family Art Tees 25% Off
- Fashion vs. Fascism - Because Democracy Should Always Be In Style
- From Degrassi to Cass Tech: The Unexpected Influences Behind Asheville's KayeDinero
- Lee Gunn IV Shares Lessons From 40 Years in the Courtroom on PodNumbra Podcast
- KayeDinero Takes "Appalachia" Above the Blue Ridge With New Aerial Music Visual
- Michael H. Kaplan Recognized for 17 Years on PHPA Workers' Compensation Panel and Advocacy for Professional Athletes
- International Society of Medical AI Convenes Global Faculty in Florence for ISMAI 2026
- Boston Industrial Solutions Introduces Personalized Printing Training
- Century Fasteners de Mexico Exhibiting at the 2026 Automotive & Aerospace Nearshoring Summit
- Retell AI White Label Platform for Agencies Launched by VoiceAIWrapper, With Branded Client Portals and No Per-Minute Markup
- FOCUS Names Mark Phillips Senior Vice President of Business Development
- Notaron Expands Online Notarization Access Following Wisconsin Approval
- Wings Air Helicopters Selected to Support VIP Transportation for Resorts World in New York