Gladwen Wendell Falls

Jones Lang LaSalle, a North Carolina licensed real estate broker ("JLL"), has been retained as the exclusive sales representative for Gladwen Wendell Falls, the "Property," or the "Asset", a 365-unit, Class-A multifamily asset in Wendell, NC. Completed in 2024 by Spectrum Companies and FCA Partners, Gladwen is an institutional-quality product with luxurious amenities and strategic positioning at the intersection of I-87 and Wendell Falls Pkwy attracts a strong renter base from across the Raleigh MSA. The Property's direct accessibility to high-demand neighborhood amenities and major employment hubs presents an opportunity for potential investors to capitazlie on a growing and dynamic submarket in Raleigh-Durham,

The Asset's location just minutes from Wendell Falls Town Center - a rapidly growing mixed-use development featuring a wide range of retailers, restaurants, and corporate headquarters - continues to attract residents to the area. The Publix anchored Center creates a vibrant, walkable environment that attracts steady foot traffic and is easily accessible for the Property's renters.

The Property presents significant investment potential given the surrounding area's attractive submarket fundamentals. Wendell Falls' substantial commercial development and diminished multifamily pipeline reflect an imbalance of supply and demand for housing in the submarket. As the pipeline stabilizes, the submarket is equipped to experience notable rent growth in both the short and long term. The Property's townhomes present considerable upside in lease rents, as initial leases were executed at discounted rates during construction to expedite lease-up and stabilize occupancy. Market data for comparable townhome product in Raleigh indicate that second generation leases typically achieve rent increases averaging between 6-8%.

The Property is uniquely positioned as the easternmost institutional grade asset near Downtown Raleigh. With direct access to both East Wake County's employment hubs and the metropolitan lifestyle and amenities of Downtown Raleigh, the Asset stands out as a highly attractive residential option for working professionals. The ongoing Complete 540 project, the largest infrastructure initiative in state history, continues to enchance the area's already significant connectivity.