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Executive Summary

History.  Beauty.  Access @ The Long View Center

 

 

It is rare to have so many positive investment reasons of this caliber for one property location that draws from ideas with a long view to our past and future.

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It is even more rare to draw such a favorable view of this property from a global real estate picture using local, national, and global data.  We are especially drawing upon the resources of national ranking of Raleigh/Wake County for fifteen years and the Urban Land Institute (ULI) rankings for five years.

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ULI is the premier advisor for established developers and financial investors worldwide.  It is why new investors are looking at Raleigh-Durham each year.

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All this information suggests that this property has appreciated with the maturation of historic downtown Raleigh, and will likely appreciate in the future based on ULI Top Ten National Ranking of locations for strategic investments.  Top rankings moving from #10 to #2 in five years is outstanding for Raleigh-Durham, how ever one looks at it.  This is powerful information from the Urban Land Institute for the future values of property in our area and this property now offered for sale with the opening of Moore Square Park in August 2019.

 

  • Our Property

  • Our Neighbors

  • Our Neighborhood

  • Our City

  • Our Region: Raleigh Durham Local, National and Global data

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1. Our Property

  • Maurer Architects developed a detailed design for the three-floor building.  Utilizing its historic features as one firms’ ideas for office building use and to conceive its potential for the buyer.

 

  • Hardwood floors – 2nd and 3rd floor.

  • Ten-foot Ceilings – 2nd and 3rd floor.

  • Historic small classrooms make for unique layout options – 2nd and 3rd floor.

  • Original historic classroom doors – 2nd and 3rd floor.

  • Flexible floor plans.

  • Operating windows - common for historic properties.

  • Almost new roof.

  • Roof deck options.

  • Historic finishes throughout, including trim finishes.

  • It’s a rare and unique historic building with great character and local history.See list of Historic Buildings, 1840-1940.

  • Entrance at 217 Hargett Street is across the street from Historic Moore Square.

  • Adjacent to Marbles Museum and its amenities.

  • Green Space…Available to the Building Owner.

 

2. Our Neighbors

  • Nothing like its location and history is available in downtown Raleigh…nowhere.

  • Its front yard is unparalleled, the new four-acre Moore Square Park.

  • Marbles Museum is a great neighbor with “conference and meeting rooms” and a restaurant.

  • Excellent parking options are available in four directions.

  • Site has a walkability score of “91,” - with 430 urban amenities in Historic Downtown.

  • Outstanding residential, school, entertainment, and worship options available for employee families.

  • Within blocks of many of the best places to eat in the Triangle.

  • Building values have been increasing significantly over last five years.

 

3. Our Neighborhood

  • Moore Square is one of five historic public squares from the City’s inception in 1792.It is an historic location and neighborhood for 225 years to the East Street original boundary and beyond.

  • Moore Square open as a public park similar to Bryant Park, NYC in August, 2019 .Design Team inspired by Bryant Park.Once Bryant Park opened, its neighborhood grew dramatically.It will in Raleigh.

  • GoRaleigh Transit Station total renovation west of Moore Square completed in 2018.

  • Skyhouse, The Lincoln, and Edison Lofts adds 780 new residential apartment options.

  • Marbles Kids Museum and IMAX draws 650,000 visitors annually for the past three years.

  • Moore Square neighborhood has four new condominium projects; more are coming

  • New Bern Avenue Bus Rapid Transit Corridor from the State Capital to Wake Med was authorized a $75 million investment, and first phase project status.

  • Historic Oakwood and Historic Thompson-Hunter neighborhoods are undergoing major renovations exceeding $61 million from 2010-2016.Longview Gardens follows trend.

  • Historic Chavis Park will be undergoing a major investment period with all building replacements with $15-million-plus City investment.

 

4. Our City

  • Rapidly growing urban amenities for past 15 years – Total of 430 amenities in 2016 report.

  • DRA State of Downtown Report: 2015 Report

    • $1.3 billion construction boom

    • 3,400 new residential units

    • 1.1 million square feet of office space

    • 700 hotel rooms

  • The Downtown Experience Plan for 2016-20125: Breathe, Move, Stay, Link - A second ten-year vision plan has been completed and adopted.

  • Quality K-12 education opportunities exist throughout the Downtown area and Wake County.

  • NCSU, the economic engine for Raleigh growth, is in close proximity.

  • New Union Train Station opened 2018 in an historic property.

  • Entrepreneurship businesses expanding from Citrix to Red Hat to Pendo, etc.

  • Entrepreneurial start-up centers located throughout the downtown area stimulating new businesses, especially HQ Raleigh in four nearby locations.

 

5. Our Region: Raleigh-Durham Local, National and Global Data

  • The Research Triangle Park has been a global leader harnessing the powers of three major research universities to support growing corporations for the past sixty years.Success is now spreading to four cities including Downtown Raleigh, Downtown Durham, Cary, and Chapel Hill.

  • Quality of Life – Live, Work, Play is excellent.

  • We have the best climate on the east coast of the USA, and best four seasons.

  • Coast and mountain vacation opportunities are 2-3 hours away.

  • Wake County’s population has grown steadily for 20 years, so now Mecklenburg and Wake’s population are about equal.

  • U.S. Census Report for 2018 ranks Wake Co. 10th best in nation with 20% growth in 8 years.

  • Unemployment currently at 3%-plus level, usually better than the national levels.

  • A Triangle Rapid Transit System plan is in development.

  • Wake County Economic Development National Rankings, “Smarter All Around,” have been superlative for the past fifteen years.

  • Raleigh-Durham ranked by ULI as the 4th best urban area in the USA for real estate investment in 2018.3rd best for 2019.

  • Global ULI data suggests the Raleigh/Durham area has excellent long-term potential for real estate development among 40 global cities.We are the smallest of the 40 cities cited for their development prospects around the world.Please see Chapter 14 for more details in the Due Diligence Encyclopedia – History, Beauty, Access – The Longview Center.

  • RTP is revisioning itself with a new Park Centre.It is the next phase in the maturation of RTP for the future…creating a new city within the Park.The whole continues to be greater than the sum of the parts.

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