Midline Raleigh

Jones Lang LaSalle (“JLL”), a North Carolina licensed real estate broker, has been retained as the exclusive sales representative for the sale of Midline, a 27.89 acre covered land assemblage in the North Hills submarket of Raleigh, NC. North Hills is the premier Mixed-Use destination center in Raleigh, North Carolina comprised of over 3,000 multifamily units, 2M SF of office and 1.2M SF of retail that commands the highest rents and occupancy in the Triangle region. This exceptional covered land opportunity is strategically situated adjacent to the newly developed North Hills Innovation District and the in-process Exchange Raleigh mixed-use project, which includes 1000 Social, a 350,000 SF office asset. Zoned for Commercial Mixed-Use, Midline allows for diverse residential, retail, service, and commercial development with by-right vertical density up to 20 stories.

Currently, the Portfolio generates substantial income from its existing assets. The office component, comprising 126,608 SF across 3 buildings on 7.51 acres, maintains an 85% occupancy rate and generates more than $1.2M of annual net operating income. With existing and prospective tenants preferring short-term leases, the asset is well suited for near-term redevelopment. The multifamily portion, consisting of 365 units across 20.38 acres, boasts a robust 92% occupancy rate and delivers an NOI of approximately $2.4M. With the ability to develop over 2,000 multifamily units by right, Midline is truly the last generational development opportunity within the North Hills submarket.