Business News Flash - Raleigh, NC - Spec On The Job

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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