Publication: City Biz List
Author: Industry News
July 08, 2015
Stratford Land announced that it has sold approximately 14.5 acres in Alexander Place to Atlanta-based developer Davis Development. Alexander Place is a 300-acre master planned community situated in northwest Raleigh, N. C., near the intersection of I-540 and Highway 70 in an area known as the Brier Creek submarket. The tracts that were sold have been rezoned for multifamily development.
“We are pleased to have attracted such a quality buyer as Davis Development,” said David Moore, senior investment manager of the southeastern U. S. for Stratford Land. “Both Davis Development and Stratford Land recognize that the Brier Creek submarket is one of the fastest growing areas in the Research Triangle and an area that enjoys continuing expansion in single and multifamily housing, upscale retail centers, office and institutional developments and public schools.”
Davis Development plans to build a 203 unit, luxury multifamily community and is currently in the design phase.
Eight raw land parcels will continue to be owned by Stratford Land after this sale and are being marketed by Cushman & Wakefield | Thalhimer. The remaining parcels have flexible zoning and are served by City of Raleigh utilities.
With its close proximity to Research Triangle Park and RDU Airport, Alexander Place in Brier Creek has become one of the most sought after destinations in the Triangle.
Stratford Land acquired Alexander Place in 2000. Stratford Land’s financial strength enables it to acquire and hold land during various economic cycles and to reposition land to its highest and best use.
Justin Good and Karl Hudson IV, with Cushman Wakefield/Thalhimer represented Stratford Land in the sale and may be contacted about other available land in the project at (919) 987-1010 or Justin.email@example.com.