MIDTOWN RALEIGH OFFICE BUILDINGS FOR SALE 3948 BROWNING PL, 3900 MERTON DR

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1 MIDTOWN RALEIGH OFFICE BUILDINGS FOR SALE, THE OFFERING MIKELS AND JONES PROPERTIES, ON BEHALF OF THE OWN- ER IS PLEASED TO EXCLUSIVELY OFFER THE OPPORTUNITY TO PURCHASE AND 3948 BROWNING PLACE. THESE WELL LOCATED OFFICE BUILDINGS WERE RENOVATED IN 2004 AND ARE CURRENTLY LEASED TO LO- CAL AND REGIONAL TENANTS BARRETT DR THE PARK CONSISTS OF TWO (2) BUILDINGS TOTALING 42,226 SQUARE FEET. THE PARK IS LOCATED IN THE NORTH HILLS/MIDTOWN SUBMARKETS, ONE OF RALEIGH S MOST DYNAMIC AND ECONOMICALLY POSITIVE SUBMAR- KETS. THIS SUBMARKET IS HOME TO NORTH HILLS SHOP- PING CENTER, A MULTI-FACETED RETAIL DESTINATION AS WELL AS RALEIGH S MOST PRESTIGIOUS INSIDE THE BELT- LINE NEIGHBORHOODS. THE SUBMARKET IS BISECTED BY I- 440, SIX FORKS RD, AND GLENWOOD AVENUE AND IS CON- VENIENTLY CONNECTED TO MUCH OF RALEIGH AND THE TRIANGLE REGION. : $5,300,000

2 MIDTOWN RALEIGH OFFICE BUILDINGS FOR SALE NORTH HILLS INVESTMENT OPPORTUNITY 22,178 ACREAGE 1.14 O&I1 YEAR BUILT 1971 YEAR REMODELED 2004-LOBBIES, BATHROOMS, NEW PAINT, CARPET, NEW ROOF PARKING SPACES 113 FLOORS 3

3 MIDTOWN RALEIGH OFFICE BUILDINGS FOR SALE NORTH HILLS INVESTMENT OPPORTUNITY 20,048 ACREAGE 1.58 O&I1 YEAR BUILT 1969 YEAR REMODELED 2004-COMPLETE NEW HVAC SYSTEM, NEW BATHROOMS, CORRIDORS, OFFICE SUITES, CARPET, PAINT, NEW ROOF 2014 PARKING SPACES 77 FLOORS (OFFICE) (MOBILE)

4 MIDTOWN RALEIGH OFFICE BUILDINGS FOR SALE, 3900 MERTON IN SUMMARY: OVER THE LAST 13 YEARS THE OWNERSHIP GROUP HAS REPOSI- TIONED BOTH PROPERTIES TO CLASS B BUILDINGS MERTON DR HAS HAD A COMPLETE MAKEOVER WITH REPLACEMENT OF THE HVAC SYSTEM, NEW BATHROOMS, NEW TENANT SUITES, AND A NEW ROOF INSTALLED IN ACE HAS BEEN RENOVATED WITH NEW STORE- FRONT ENTRANCES, CANOPIES, CORRIDORS, LOBBIES, REPLACEMENT OF THE GAS BOILER, REPLACEMENT OF THE ROOF, REPLACEMENT OF THE COOLING TOWER, AND INSTALLED NEW ENERGY EFFICIENT LIGHTING. THE HEAVY LIFTING HAS BEEN DONE BY THE OWNERSHIP GROUP. THESE BUILDINGS ARE WELL LOCATED TO TAKE ADVANTAGE OF THE CONTINUING EXPANSION OF NORTH HILLS. TOTALS: 42,226 ACREAGE 2.72 O & I 1 PARKING SPACES 190

5 NORTH HILLS SHOPPING CENTER SIX FORKS RD RALEIGH S MIDTOWN IS ANCHORED WITH THE CON- TINOUSLY EXPANDING NORTH HILLS SHOPPING CENTER. THIS IS ONE OF RALEIGH S LARGEST DEVELOPMENTS AND OFFERS MANY MIXED USE OPTIONS TO LIVE, WORK SHOP, AND DINE. THERE IS 1,056,000 SF OF OFFICE SPACE, 920 RESIDENTIAL UNITS, 366 HOTEL ROOMS, NOT TO MENTION A MOVIE COMPLEX AND MULTIPLE EN- TERTAINMENT VENUES. THE CENTER COVERS 100 ACRES OF LAND THAT BORDERS THE INNER BELT LINE (I-440). MULTIPLE DEVELOPERS ARE CURRENTLY IN THE PROCESS OF EXPANDING THE CENTER WITH MIXED USE BUILDINGS (UP TO 20 STORIES) ALONG THE BELTLINE AND DOWN ST ALBANS DR TO WAKE FOREST RD. SIX FORKS RD CORRIDOR STUDY SIX FORKS RD CURRENTLY RUNS BETWEEN THE SHOP- PING CENTER AND IS THE MAIN ACCESS FOR INGRESS AND EGRESS. IT IS ALSO THE MAIN ACCESS TO NORTH HILLS OFFICE PARK AND THE BARRETT DR BUILDING. THE CITY OF RALEIGH HAS ORGANIZED A CORRIDOR STUDY FOR POTENTIAL IMPROVEMENTS TO THE ROAD TO MAXIMIZE TRANSORTATION AND PEDESTRIAL ENJOY- MENT. SEE LINK BELOW TO ACCESS STUDY. Articles/UrbanDesign/SixForksCorridorStudy.html