May 9, 2019 Comments (0) Views: 227 National News, North Carolina, Southeast, Southeast

Hines, Columbia, USAA Plan 2.5M-SF MXU Development in North Carolina

Houston-based Hines, along with co-developer Columbia Development Group, LLC and USAA Real Estate, plan to develop Fenton, a new 69-acre mixed-use district in the Cary submarket of Raleigh/Durham, NC. The development will offer 2.5 million square feet of retail, office, restaurant, hotel and multifamily space.

The initial phase will consist of a 99,000-square-foot Wegmans store; 263,000 square feet of specialty and experiential retail, including a movie theater and food hall; a 146,400-square-foot loft office; 350 apartment units; and a 175-key hotel. The project will be located along Cary Town Boulevard at I-40, Town of Cary.

HFF was engaged by the developers to raise capital for the project, which is expected to break ground in the summer of 2019 with an opening in the fall of 2021.

Notable tenants already signed-on include Crawford Brothers Steakhouse, Superica Tex-Mex and Honeysuckle Gelato.

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For comments, questions or concerns, please contact Dennis Kaiser

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