“KBS has always viewed the Raleigh market favorably given its dynamic live-work-play environment,” said KBS Regional President, Marc DeLuca. “It is exciting to see continued economic growth and interest from people and companies who consider making the city their home, and to witness how our projects have made this market a better place to live, work and play. Midtown Plaza, which is in the heart of the North Hills area, continues to see high client retention, which can be attributed to the quality and location of the property, and speaks to the strength of the investment for its new owners.”
Midtown Plaza features 12 levels of office space with a café on the first floor, a contemporary lobby, high visibility from the I-440 Beltline, and adjacent structured parking incorporating public art and an outdoor fitness area. North Hills is a flourishing, mixed-use development providing luxury hotels and apartments as well as a multitude of well-known retail and restaurant options.
“We are especially proud of the impact that this project has had on North Hills. We delivered a sustainable, class A development to the market, that further contributed to the making of North Hills,” said John Kane, CEO of Kane Realty. “Our relationship with KBS and collective commitment to the project was instrumental in our ability to swiftly execute on this development property and its success.”
James Cassidy and Jud Ryan of Newmark Knight Frank represented KBS in the transaction.