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Largest single real estate transaction in downtown Raleigh’s history – WRAL News

On Friday, downtown Raleigh broke a real estate record – the largest single transaction in the city’s history.

Maryland developer Heritage Properties closed on the sale of two buildings in the Glenwood South area.

City Office REIT of Canada bought the multi-tower, mixed-use development for $330 million dollars.

Heritage Properties finished construction on each of the two towers, called One Glenwood and Tower Two, in 2021 and 2021, respectively. The site, collectively known as Bloc[83], includes the two Class A high-rise office buildings, which Heritage describes as having “carefully selected retail and dining options, a 126-room boutique hotel, multiple entertainment platforms, and Raleigh’s largest urban courtyard, creating a go-to destination for both area residents and commuters.”

Block[83] currently has leases from tenants like First Horizon Bank, WeWork, Envestnet and McAdams. Other retail businesses have signed on, including coffee shops and yoga studios.

Heritage still owns a nearby site where they plan to build a third tower in 2022.



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