X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.