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National  + North Carolina  |  November 5, 2019
David Cohen
By: David Cohen

Partnership Purchases 400-Acre MXU Development Site in Metro Raleigh

Capital Properties of Raleigh, Shenandoah Homes and Lennar Corp. have partnered to purchase Carolina Springs, a 400-acre, master-planned development site in the Raleigh-area community of Holly Springs for an undisclosed price.

The site is zoned for up to 1,700 residential units and 1.02 million square feet of commercial space. Carolina Springs will provide connectivity to employers in Research Triangle Park and Downtown Raleigh via the nearby US-1/Interstate 540 interchange.

Justin Good, Sarah Godwin and John Mikels of JLL represented the partnership in the transaction, and advised on the deal structure between the parties. The seller was not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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