Updated Jun 23, 2025
RE Dunn Industrial LLC Purchases Development Site In Raleigh From The Fallon Company For $6.8M
309 Hillsborough Street & 327 Hillsborough Street
$6,800,000
Building Size
—
Asset Type
Development Site
Closing
Jun 16, 2025
About this deal
AI
The transaction involves a development site located at 309 Hillsborough Street & 327 Hillsborough Street, in Raleigh, NC. The property was sold for $6,800,000, comprising two lots intended for the second phase of Raleigh Crossing in Downtown Raleigh.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,800,000
- Buyer: RE Dunn Industrial LLC
- Seller: The Fallon Company
This sale signifies the discontinuation of The Fallon Company's plans for a mixed-use residential tower at this location, as the strategic direction pivots towards different development goals represented by RE Dunn Industrial LLC.
On the Map
$6,800,000
Development Site
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Players
Raleigh Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93