“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.