February 3, 2020
Privately-owned global real estate investment firm Hines has announced that it has opened a new investment and development office in Raleigh. The office will be led by Paul Zarian, who will be responsible for sourcing and executing new development and investment opportunities in the market.
Hines, along with partner Columbia Development Group and USAA Real Estate, are currently developing Fenton, a new 92-acre mixed-use district in nearby Cary, N.C. The development will include 2.5 million square feet of retail, office, multifamily, restaurant and hotel space. The initial phase of the project is projected to open in late 2021.
“The Triangle’s long-term fundamentals are no secret, and we have dedicated the last few years to identifying and curating the right opportunity to enter the market,” said Zarian. “We were fortunate to have found it in Fenton. Through the creation of a pedestrian-focused, mixed-use village in a location that is accessible to all points in the Triangle, we believe that Fenton will be nothing short of transformative for the region.”
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