Edgewater Ventures acquires 32,000 SF building in Downtown Raleigh
January 22, 2021
// WRAL Tech Wire
RALEIGH –
CBRE|Raleigh is pleased to announce the sale 111 West Hargett Street in Raleigh to Edgewater Ventures. CBRE|Raleigh’s Jimmy Poole and Ben Kilgore represented the seller, WhiteStar Advisors, in the transaction.
111 W Hargett Street [known as the Martin Building] is an approximately 32,000 square foot creative office building in downtown Raleigh. Built in 1951 and renovated in 2018, the building is currently vacant and in move-in ready condition with a rooftop patio. The site is considered a walker’s paradise located in heart of Downtown Raleigh with a walkscore of 96, surrounded by numerous restaurants and a block from Nash Square.
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Tim Skender, principal at Edgewater, said the acquisition was a good opportunity in a submarket that is thriving. "We’re big believers in lifestyle office or neighborhood office," he said. "1800 Central is well-located, in a dynamic, growing (submarket) where the neighborhood is the amenity for the people who office there. There’s a lot of momentum in Plaza, broadly speaking."
