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RAPIDLY URBANIZING CRABTREE VALLEY AREA, RALEIGH, NC CHARLES DRIVE OVERTURE CRABTREE (GREYSTAR): 203 Active-Adult Units

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RAPIDLY URBANIZING CRABTREE VALLEY AREA, RALEIGH, NC CHARLES DRIVE OVERTURE CRABTREE (GREYSTAR): 203 Active-Adult Units CAROLINA ROW 10.93-ACRE HIGH-DENSITY REDEVELOPMENT OPPORTUNITY ACROSS FROM CRABTREE VALLEY MALL RAPIDLY URBANIZING CRABTREE VALLEY AREA, RALEIGH, NC CHARLES DRIVE OVERTURE CRABTREE (GREYSTAR): 203 active-adult units E IV DR TT RRIO MA L E A D M I N E R O A D : 2 9 , 0 0 0 V P ACROSS FROM CRABTREE D GLEN WOOD AVENU VALLEY MALL (1.4 MSF) E/U.S. HIGHWAY 70: 50,000 VPD CAROLINA ROW INVESTMENT HIGHLIGHTS LOCATION 4315 Lead Mine Road 10.93-Acre High-Density Redevelopment Raleigh, NC 27612 Opportunity Across from Crabtree Valley Mall WAKE COUNTY PIN 0796600994 ACREAGE (APPROX.) 10.93 acres Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a North Carolina FRONTAGES 1,030' Glenwood Avenue licensed real estate broker (“HFF”) has been retained as the exclusive sales representative for (APPROX.) 200' Lead Mine Road Carolina Row, a unique 10.93 acre redevelopment opportunity with high-density in-place CX-12- 400' Charles Drive CU zoning (nine-story allowable height) directly across from Raleigh’s premier super-regional ZONING CX-12-CU Crabtree Valley Mall (1.4 MSF). Offering the largest contiguous acreage along Glenwood ALLOWABLE HEIGHT Nine-story allowable development height Avenue/U.S. Highway 70 in the rapidly urbanizing Crabtree Valley area, Carolina Row is CURRENT USAGE Northampton Apartments (113 units, 1967 vintage) ideally positioned for mixed-use development to capitalize on the area’s robust surrounding ACCESS Signalized ingress/egress point at Lead Mine Road demographics ($105,000 average household income in a one-mile radius) and enviable and Royal Hill Court central location within the fast-growing Raleigh-Durham area. At the confluence of three major OWNERSHIP Leasehold to be collapsed into fee thoroughfares –I-440, Glenwood Avenue, and Creedmoor/Edwards Mill Road – Carolina Row STRUCTURE is well-connected with major employment and residential nodes around North Hills/Midtown ASKING PRICE 13,000,000 Raleigh, Downtown Raleigh (45,000+ jobs), and Research Triangle Park (55,000+ workers). Additionally, the Property can generate short-term cash flow from the existing 113 units within the 1960s vintage Northampton Apartments. CAROLINA ROW | 2 DOWNTOWN NORTH CAROLINA RALEIGH STATE UNIVERSITY (10 minutes) (10 minutes) 290-UNIT GLENWOOD PLACE APARTMENTS (early 2018 completion) GLENLAKE GARDENS: 0 VPD 118,00 $350,000 to $500,000 440 MARQ AT CRABTREE townhomes (293 units, $1,275 avg rent) NORTH HILLS MARSHALL PARK (5 minutes) (384 units, $1,225 avg rent) GLENLAKE OFFICE PARK (620,000 SF): PRA Health Sciences, Principal Financial, Ernst & Young, State Farm, Pepsi Bottling PD V 0 0 G 0 , LE 9 N 2 W : O O D D A CAROLINA ROW A CREEKSIDE AT CRABTREE O V E (335 units, $1,365 avg rent, R N Spring 2017 completion) U CRABTREE VALLEY MALL E MARRIOTT E N DR 1.4 MSF | Belk, Macy’s, Apple, I IV / E U M Pottery Barn, Brooks Brothers, . D S Barnes & Noble, McCormick & . A E H Schmicks, Fleming’s Steakhouse L I G OVERTURE E H UNC REX IV W CRABTREE R A HOSPITAL D APARTMENTS ES Y (5 minutes) RL 7 (GREYSTAR): HA 0 C : 203 active adult 5 0 units, August 2017 , 0 VPD completion) 0 00 0 2,0 V : 2 P AD D RO ILL S M RD WA ED PLANNED REDEVELOPMENT: 200-key Westin Hotel (Shamin) and 140,000 SF office/30,000 SF retail (East West Partners) CAROLINA ROW | 3 Hillsborough DURHAM 1 Wake Forest 501 147 15 70 1 CHAPEL HILL Research 40 Triangle Park 540 540 RALEIGH-DURHAM 401 INTERNATIONAL AIRPORT 70 40 UNMATCHED LOCATION UMSTEAD 1 P ARK Carolina Row offers a unique opportunity for large-scale development in the rapidly urbanizing Crabtree Valley CAROLINA ROW 440 corridor with a highly recognizable location directly 40 NORTH HILLS across Glenwood Avenue from Crabtree Valley Mall, the Morrisville 401 region’s most sought-after retail destination. 540 401 HIGH-DENSITY OPPORTUNITY 440 CARY 40 Knightdale 540 RALEIGH The largest redevelopment opportunity around 440 Crabtree Valley Mall, Carolina Row has exceptional CX- 12-CU zoning – the densest suburban zoning possible DOWNTOWN RALEIGH in Raleigh – and nine stories of allowable height that 40 supports high-density mixed-use development. 64 Apex 40 TRANSFORMING CORRIDOR Surrounded by highly accretive development, Carolina Garner Row is optimally positioned within the high-growth CAROLINA ROW DEMOGRAPHICS Glenwood corridor which has been transformed by 70 a $300+ million development boom since 2013, and RADIUS 1-MILE 3-MILE 5-MILE continues to surge with Greystar’s adjacent 203-unit 2016 Population 8,794 90,869 230,435 Overture Crabtree Apartments and plans for the region’s Census Population (2000) 401 6,242 75,302 181,197 first 200-key Westin Hotel and East West’s seven-story 140,000 SF office tower with 30,000 SF retail. Historical Population CAGR (2000-2016) 2.3% 1.3% 1.6% Holly Springs Avg Household Income $105,718 $106,688 40 $91,177 CONNECTIVITY NEXUS Median Household Income $77,705 $76,673 $66,682 Carolina Row has exceptional visibility along Glenwood % Household Income over $100,000 34.9% 34.3% 29.2% Avenue (50,000 VPD) and Lead Mine Road (22,000 Per Capita Income $51,491 $50,011 $40,508 VPD) at the signalized intersection with North Hills Drive, while enjoying a highly central Raleigh location near the Median Home Value $342,887 $308,645 $278,900 confluence of three major thoroughfares – Glenwood Median Age 38.9 38.5 35.8 Avenue/ U.S. Highway 70, I- 440, and Creedmoor/ % Bachelor Degree or Higher 63.3% 60.2% 55.0% Edwards Mill Road – that directly link the area to Source: Regis numerous key residential and employment nodes. CAROLINA ROW | 4 NORTH HILLS NORTH HILLS SOUGHT-AFTER AMENITIES With signalized access across Glenwood Avenue, Carolina Row has immediate access to a highly amenitized corridor, including the 1.4 million square foot Crabtree Valley Mall with over 200 restaurants, boutiques, department stores, and regionally unique retailers that attract more than 12 million visitors per year. AFFLUENT DEMOGRAPHICS Situated just outside the I-440 beltline, Carolina Row is well- positioned to tap into central Raleigh’s affluent residential base with access to the region’s most desirable neighborhoods, well- ranked schools, proximity to high-caliber employment nodes in North Hills and Downtown Raleigh, and strong one-mile radius demographics with $105,000+ average household incomes. EMPLOYMENT PROXIMITY Carolina Row is proximate to many of the region’s key employment areas, including R&D-focused Research Triangle Park (55,000+ jobs), growing tech hub Downtown Raleigh (45,000+ employees), North Carolina State University, UNC REX Hospital, and North Hills/ Midtown Raleigh (First Citizens Bank, CAPTRUST, Bank of America). CRABTREE VALLEY MALL CAROLINA ROW | 5 DOWNTOWN RALEIGH NORTH HILLS: 850,000 SF retail, 40-ACRE GLENWOOD 45,000+ jobs 1 MSF office, 1,520+ apartments PLACE REDEVELOPMENT: NC State Capitol, Red Hat HQ, Citrix/ 290-unit Glenwood Place ShareFile, Duke Energy Apartments (early 2018 completion) NORTH RALEIGH 440 118,000 VPD NEIGHBORHOODS: $350,000-$800,000 single-family homes PD G OAD: 18,000 V RIDGE R L BLUE E N W O 00 VPD O D: 29,0 D ROA D MINE A LEA V E N U E / U . S . H I G CRABTREE VALLEY MALL H 1.4 MSF | Belk, Macy’s, Apple, Pottery W A Barn, Brooks Brothers, Barnes & Y Noble, McCormick & Schmicks, 7 0 Fleming’s Steakhouse : 5 OVERTURE CRABTREE 0 , 0 APARTMENTS (GREYSTAR): 0 203 active adult units, August 0 V 2017 completion) CAROLINA ROW P D investment advisors analyst JUSTIN GOOD JEFF GLENN ALLAN LYNCH SARAH GODWIN JOHN MIKELS Managing Director Managing Director Senior Director Director Real Estate Analyst 919.573.4642 919.573.4646 704.526.2819 919.573.4643 919.573.4648 [email protected] [email protected] [email protected] [email protected] [email protected] debt & structured finance TRAVIS ANDERSON ROGER EDWARDS BRENT BOWMAN CORY FOWLER Senior Managing Director Senior Director Senior Director Senior Director 704.526.2806 919.573.4647 704.526.2827 704.526.2807 201 NORTH TRYON STREET | SUITE 1400 | CHARLOTTE, NORTH CAROLINA | 28202 [email protected] [email protected] [email protected] [email protected] 4208 SIX FORKS ROAD | SUITE 918 | RALEIGH, NORTH CAROLINA | 27609 HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change..
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