February 25, 2019
New 20-story mixed-development tower coming to downtown Raleigh, NC
Source: Ben Graham, Triangle Business Journal
California-based Acquisition Group is planning construction for a 1.5-million-square-foot development in downtown Raleigh.
The development, called Nexus, will be located on the site of the former News & Observer property. It will feature office, retail, and residential space. Chapel Hill-based developer East West Partners will also be involved with the project.
The first phase of the development will include a 20-story office tower facing Salisbury Street, which will include retail space on the ground floor. Barnhill and Brasfield Gorrie will act as general contractors.
The Acquisition Group purchased the 3.3-acre property for $22 million in 2017.
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