320 SOUTH DAWSON 320 SOUTH DAWSON STREET, RALEIGH, NC DOWNTOWN RALEIGH CORNER OF SOUTH DAWSON & WEST DAVIE

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1 320 SOUTH DAWSON 320 SOUTH DAWSON STREET, RALEIGH, NC DOWNTOWN RALEIGH CORNER OF SOUTH DAWSON & WEST DAVIE 1

2 320 SOUTH DAWSON PROPERTY OVERVIEW HFF Carolinas is pleased to offer for sale 320 South Dawson Street, a 0.41 acre parcel that provides a sought-after corner location in the Warehouse District of booming Downtown Raleigh, NC. 320 South Dawson benefits from Downtown Raleigh s stellar $2.5B development surge in the past decade and is situated in a clear path-of-growth corridor with numerous transformational economic engines such as the Citrix/ShareFile division HQ, startup incubator HQ Raleigh, Raleigh Union Station, and the newly started high-density mixed-use The Dillon redevelopment. With an impressive WalkScore of 90, designated as a Walker s Paradise, 320 South Dawson also is conveniently located near several renowned local watering holes (Crank Arm Brewing, The Pit Barbecue, and Poole s), Red Hat Amphitheatre, and Downtown Raleigh s arts district. PROPERTY FEATURES ADDRESS 320 South Dawson Street Raleigh, NC WAKE COUNTY PIN SOUTH DAWSON MUNICIPALITY ACREAGE FRONTAGES (APPROX.) REMAPPED ZONING (EFFECTIVE 2/14/2016) AVAILABILITY City of Raleigh 0.41 (17,860 SF) 135' West Davie Street 130' South Dawson Street DX-5-SH (Downtown Mixed Use with Height up to 5 Stories with Shopfront Frontage) Available immediately PRICING $2,200,000 DEMOGRAPHICS Research Triangle Park MILE 3 MILE 5 MILE 2015 POPULATION 15, , , RALEIGH-DURHAM INTERNATIONAL AIRPORT ANNUAL POP. GROWTH ( ) 3.6% 1.9% 2.1% UMSTEAD P ARK AVG. HOUSEHOLD INCOME $59,619 $64,494 $69,131 % POPULATION AGE % 32.3% 29.8% Morrisville MEDIAN AGE % WALK TO WORK 15.0% 6.2% 4.1% MEDIAN HOME VALUE $267,597 $262,129 $243,414 EST. MLY. HOMEOWNERSHIP COST $1,627 $1,594 $1,480 CARY RALEIGH SITE 440 K AVG. HOUSEHOLD NET WORTH $468,374 $474,678 $496, Source: Regis 40 2

3 320 SOUTH DAWSON REMAPPED ZONING DETAILS Excellent timing with finalized city-led rezoning: Higher-density zoning has been finalized after an extensive remapping process throughout the City of Raleigh; 320 South Dawson, which is currently zoned for industrial uses, will have higher density DX-5-SH zoning (effective on 2/14/2016) that will allow development by right of up to 5 stories of mixed-use development with street-level retail. REMAPPED ZONING INFO FOR 320 SOUTH DAWSON 320 SOUTH DAWSON DESCRIPTION BASE ZONING HEIGHT FRONTAGES DX-5-SH, Downtown Mixed Use (DX-) with Height up to 5 Stories with Shopfront Frontage DX- (Downtown Mixed Use): This district is intended to provide for intense mixed use development of the City s Downtown area. 5 stories / 75 feet max SH (Shopfront): This frontage is intended for areas where the highest level of walkability is desired. The -SH Frontage is intended to create a main street type of environment; therefore, mixed use buildings are the primary building type allowed. 20 STORIES 5 STORIES 4 STORIES 3

4 320 SOUTH DAWSON DOWNTOWN RALEIGH S DEVELOPMENT BOOM RED HAT GLOBAL HQ RALEIGH CONVENTION CENTER 7 NASH SQUARE RED HAT AMPHITHEATER 320 SOUTH DAWSON 3 CITRIX/SHAREFILE DIVISION HQ 1 2 Development 320 South Dawson 1 The Dillon 2 HQ Raleigh 3 Raleigh Union Station 4 Hilton Garden/Homewood Suites 5 The L Building Development 6 Winwood Hospitality Hotel 7 Residence Inn 8 News & Observer 9 The Lincoln 10 SkyHouse Raleigh 11 The Edison Development 12 Edison Lofts 13 Charter Square North 14 Charter Square 15 Narsi Hotel UNDER CONSTRUCTION PLANNED COMPLETED IN

5 320 SOUTH DAWSON DOWNTOWN RALEIGH AERIAL 10 DESIRABLE DOWNTOWN LOCATION 3 1 WEST STREET 4 2 HARRINGTON STREET DAWSON STREET SALISBURY STREET 16 FAYETTEVILLE STREET WILMINGTON STREET S 320 S Dawson St (0.41 acre) 1 Citrix/ShareFile Division HQ: 850 jobs 2 The Dillon (redevelopment starts January 2016): 210,000 SF office, 40,000 SF retail, 261 residential units 3 Raleigh Union Station: $79M transit station underway 4 CAM Raleigh (Contemporary Art Museum) 5 HQ Raleigh: 105+ startups 6 The Pit Barbecue, Boxcar Bar + Arcade, Humble Pie 7 Crank Arm Brewing, Trolley Pub, Videri Chocolate Factory 8 Dawson on Morgan Condos ($250,000-$800,000) 9 Hue: 208-unit converted condo, avg. $1.65 PSF 10 Campbell Law School: 450 students, 70 faculty 11 Nash Square 12 The L Building: 83-unit apartment, avg. $1.60 PSF 13 Red Hat Amphitheatre 7 DAWSON STREET 12 MCDOWELL STREET Raleigh Convention Center: 500,000+ SF, 450,000+ annual attendees 15 Wake County Justice Center: $180 million facility, opened Wells Fargo Capitol Center: Smith Anderson, Duke Energy 17 Charter Square (opened June 2015): 56% occupied (Womble Carlyle, HDR Engineering, etc.) 5

6 $2.5B DECADE-LONG URBANIZATION & DEVELOPMENT UNDERWAY Downtown Raleigh s Recent Urbanization Successes & Transformation into a Globally Recognized Technology Hub In the past ten years, Downtown Raleigh has experienced several substantial waves of urbanization and development initially spurred by the 2003 Livable Streets Plan that have culminated in over $2.5+ billion in completed and under construction improvements. The 2012 relocation of global tech giant Red Hat s headquarters to Downtown Raleigh also had a major catalytic impact on the area s urban landscape as over 1,000 young professionals with high-paying jobs wanted convenient residential and entertainment options in an area ranked the #5 Emerging Tech Hub in the World (Transferwise). This employment surge has helped make Raleigh s CBD the destination of choice for the area s young professionals and has resulted in a tremendous boom in live-work-play options for urban dwellers. 55, ,063PER SQUARE MILE CBD EMPLOYEES CBD POPULATION DENSITY RESTAURANTS, BARS, AND ENTERTAINMENT VENUES 35% RETAIL BUSINESS GROWTH SINCE M ANNUAL VISITORS 180 ANNUAL OUTDOOR FESTIVALS 6

7 320 SOUTH DAWSON DEVELOPMENT BOOM MULTIFACETED DOWNTOWN RALEIGH DEVELOPMENT BOOM CONTINUES INCREDIBLE PIPELINE GROWTH HAS PROPELLED DOWNTOWN RALEIGH TO THE METRO S LARGEST EMPLOYMENT HUB AND GO-TO RESIDENTIAL DESTINATION Development surge continues: Nearly $1B in underway or planned COMPLETED IN 2015 $220M Transformative high-quality employment: Recently lauded as the #5 Emerging Global Tech Hub by TransferWise, Raleigh has rapidly proved itself as a technology magnet after Red Hat relocated its 1,200+ employee global HQ to the area and Citrix s ShareFile division HQ opened an 185,000 SF campus in Downtown Raleigh UNDER CONSTRUCTION $472M Surge in high-income jobs and well-appointed residential: On the heels of a decade-long $2.5 billion urbanization boom, Downtown Raleigh has quickly become the metro s largest employment hub (55,000+ jobs) and has attracted significant interest from young professionals seeking an urban lifestyle in the area s new multifamily product with prices approaching $2.00 PSF PLANNED $0 $100 $200 $300 $400 $500 $600 MILLIONS $498M CHARTER SQUARE SKYHOUSE RALEIGH THE LINCOLN 7

8 320 SOUTH DAWSON WAREHOUSE DISTRICT WAREHOUSE DISTRICT S CATALYTIC DEVELOPMENTS WITHIN 3 BLOCKS OF 320 SOUTH DAWSON Exceptional Warehouse District runway for growth: Not only is the Property located in the growing Warehouse area, which was catalyzed by Citrix/ShareFile and will again be transformed by The Dillon, but 320 South Dawson is well-located along a highly walkable corridor with well-known eateries and breweries. 320 SOUTH DAWSON CITRIX/SHAREFILE DIVISION HQ THE DILLON REDEVELOPMENT HQ RALEIGH RALEIGH UNION STATION 8

9 320 SOUTH DAWSON WAREHOUSE DISTRICT CITRIX CITRIX: Opened in 2014, the 185,000 SF redeveloped Citrix/ShareFile facility kick-started the Warehouse District s transformation with 850 well paid young professionals and a corporate focus on high-impact startup incubators such as HQ Raleigh. UP TO 850+ EMPLOYEES AVERAGE $80,000+ SALARY THE DILLON 210, SF OFFICE 185,000 SF RETAIL RESIDENTIAL UNITS THE DILLON: Kane Realty (developer of North Hills) and Federal Capital Partners are breaking ground in January 2016 on the Warehouse District s first mixed-use development while also maintaining the historic charm of the current Dillon Supply warehouse. HQ RALEIGH 26 HQ RALEIGH: Now home to 105+ startup companies, HQ Raleigh offers a co-working space with established partnerships with local tech giants such as Citrix and Red Hat in order to operate on the frontier of innovation. HQ Raleigh has exploded and will expand its facility by over 30,000 square feet in early RALEIGH UNION STATION 150+ STARTUPS COMPANIES 3X NEW SPACE UNDERWAY 79.8M INVESTMENT MAY 2015 GROUNDBREAKING RALEIGH UNION STATION: The first step towards Raleigh s centralized multi-modal transit station, Raleigh Union Station s first phase is expected to be complete by year-end 2017 and include 26,000 SF of redeveloped restaurant, shop, and office space. 9

10 4208 SIX FORKS RD, SUITE 918 RALEIGH, NC NORTH TRYON ST.,SUITE 1400 CHARLOTTE, NC investment advisors JUSTIN GOOD Managing Director (704) ALLAN LYNCH Director (704) analyst SARAH GODWIN Senior Real Estate Analyst (919) Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a North Carolina licensed real estate broker ( HFF ). HFF and HFF Securities ( HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. Information concerning the properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. 10