Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Raleigh Downtown Office Asset Flips for $15M
The owner of a Raleigh restaurant chain, Lou Moshakos, has acquired a downtown Raleigh office building for nearly $15 million. The Triangle Business Journal reports the building was sold by a lender in an online auction after the previous owners sold the building back to the lender last year. The building has an assessed value of $11.49 million – with a combined land and building value of about $15.45 million.
The 10-story, 101,000-square-foot building at 227 Fayetteville St. is 100 percent leased. New investments downtown include the 500-unit Omni Hotel on Fayetteville Street near the Raleigh Convention Center.
- ◦Sale/Acquisition
