Trending...
- Advanced TeleSensors Appoints AgeTech Innovator Tiffany Wey, MBA as Vice President of Sales & Marketing
- Most Americans Choose Their Water Brand Because of Its Natural Source — Yet Fewer Than 3 in 10 Understand What Spring Water Actually Is
- $112 Million Contract Backlog for Cycurion (N A S D A Q: CYCU) Enters Hyper-Growth Phase With, Strategic Acquisitions, & Exploding AI Cybersecurity
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
- CX Network Releases Report on the Best AI Support Tools for SaaS Companies 2026
- Outlier Pest Season Hits Willamette Valley as Mild Winter Drives Early Surge in Ant and Rodent Activity
- Hinton Called for Maternal Instincts in AI; They're Ready for Testing with Anthropic's Mythos
- Lokal Media House Wins Web Excellence Award for Black Plumbing Redesign
- Charlotte Founder Launches Foot Odor Brand After Years of Embarrassment
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
- ZionSphere Launches Multi-Platform Virtual Reality Faith Experience Built from Rocky Mount, NC
- Rocky Mount Founder Builds Virtual Reality Bible Experiences After Receiving Divine Directive
- Advanced TeleSensors Appoints AgeTech Innovator Tiffany Wey, MBA as Vice President of Sales & Marketing
- Daniel Kaufman Real Estate Venture LoneStar Kaufman Development Partners Expands
- Brian D Chase Selected to the 2026 Nation's Top One Percent Personal Injury Lawyers
- Most Americans Choose Their Water Brand Because of Its Natural Source — Yet Fewer Than 3 in 10 Understand What Spring Water Actually Is
- Unlocking Multi-Sector Growth; Graphite Acquisition Powers EV Entry While Streamlined Consumer Snack Business Fuels Growth: (N A S D A Q: SOWG)
- Permian Museum Adds Carbonaceous Chondrite Reference Photos
- L2 Aviation Receives FAA STC and PMA for Klatt Works SAVED™ Smoke Vision System
- Axencis Launches Performance Partnership for Brand Protection
- CCHR Says New OIG Report Raises Concerns about Drugging Elderly with Antipsychotics
- Project Pretzel Introduces a New System for Running Renovation Projects with Built In Contracts and Real Time Execution
- Plated Possibilities Launches Luxury Culinary Series Celebrating Black Women Chefs In Charlotte
- Generous Anonymous Gift Brings New Life to Piedmont Crossing Dog Park
- Freedomtech Solutions creates 'Global Data Centre Network (IDCN)'
- Dual-Engine Growth Strategy Ignited: AI Infrastructure Breakout Meets Scalable Circular Economy Expansion: Marwynn Holdings, Inc. (N A S D A Q: MWYN)
- Super Bowl Champion Marvel Smith Inspires Launch of MVP-IQ Platform to Help Football Players Develop and Get Recruited Like the Pros
- The Glass Guru comes to North Raleigh -- we're bringing clarity to the Carolinas!
- The Future of Classic Cars in a World Moving Beyond Gasoline: How Electric Conversion Is Saving America's Automotive Heritage
- Apple Rock Open House Offers Behind-the-Scenes Look at Exhibit Production