A joint venture between Suncrest Real Estate & Land, a residential master developer, and TriGate Capital, a real estate investment manager, has closed the $12 million sale of Buffaloe Reserve, a 212-acre, master-planned development opportunity with residential and commercial zoning in the North Raleigh, N.C., area.
JLL Capital Markets represented the seller.
Buffaloe Reserve offers about 2,000 feet of frontage along the Neuse River and nearly 3,000 feet of frontage along Interstate 540, serving as one of the largest undeveloped single-ownership parcels remaining in Wake County. The rezoning of the site was finalized in December 2021 with approval for 1,110 residential units, including single-family, townhome and apartments, as well as a commercial component.
Located at 6515 Buffaloe Road, the property is within a 20-minute drive of the market’s largest employment nodes, including downtown Raleigh, North Hills and Research Triangle Park. The property is
