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Atlanta & Southeast  + Carolinas  + Office  | 
Raleigh office asset flips for $15M

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. 

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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