A joint venture with Wood Partners and Stockbridge has purchased Davis Park East, a 21.07-acre, shovel-ready, multi-housing development site adjacent to the Research Triangle Park node in Durham, N.C.
The sales price was $10.9 million.
The seller was Lee Properties Group.
Davis Park East is approved for up to 403 multi-housing units and 25,000 square feet of commercial space. Located at 4701 Hopson Rd. in Durham, the site is minutes from both Raleigh’s and Durham’s downtowns. Davis Park East is within walking distance to retail and restaurants and is proximate to 2.5 million square feet of office space within the Imperial Center.
