RALEIGH, NC-Like a savvy real estate developer, the local chapter of the Society for the Prevention of Cruelty to Animals is selling off half of a 46-acre tract it is buying from Carolina Power & Light Co. to build a new $3-million, 40,000-sf facility here.

The proceeds from the 23-acre sale will help pay for the $1.38 million purchase from the utility company. The price equates to $30,000 per acre or 69 cents per sf. The new shelter will break ground next spring.

The 33-year-old, non-profit organization’s 28-year-old existing facility on U.S. 70 in Garner, NC is deteriorating and undersized.

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