Press Releases

Varina Station Property Sold

RALEIGH, NC - June 3, 2013 - Varina Station, an investment property, was recently sold by NAI Carolantic Realty. Located at 500 E. Broad Street in Fuquay-Varina, the mixed-use retail and apartment property was 100% leased. The first floor comprises 10,425sf in eight retail spaces and the second floor has ten apartment units totaling 8,320sf. The property traded at an 8% blended cap rate.

A seasoned broker with NAI Carolantic, Jim Adams said "As a development, Varina Station was a well-conceived mixed-use property. Located at the hub of activity in the Fuquay area, it has consistently operated at or near 100% occupancy. It will be an excellent investment for the buyer." Mr. Adams focuses on income properties and represented the seller in the transaction.

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NAI Carolantic is the Raleigh/Research Triangle area's leading commercial real estate firm with seventeen brokers, a full-service property management division, as well as an experienced marketing and research division. Established in 1972, NAI Carolantic is a member firm of NAI Global, the world's premier network of commercial real estate firms and one of the largest real estate service providers worldwide. NAI has over 5,000 real estate professionals in over 400 offices around the world with regional management, global infrastructure, best practices and technology to provide clients with consistent, quality results. NAI Carolantic and NAI Global are trusted partners, committed to your long-term success.