Seaboard Station

In December 2021, Turnbridge acquired an off-market infill site in Raleigh’s Seaboard Station submarket, structured with a seller leaseback that provided in-place income during predevelopment. Turnbridge rezoned the property for up to 20 stories of height and secured site plan approval for a large-scale multifamily development, creating a premier, construction-ready opportunity. The site sits directly adjacent to the $750 million mixed-use redevelopment of the surrounding Seaboard Station neighborhood and anchors a prominent entry point to Downtown Raleigh via Capital Boulevard.

Address
Capital Boulevard
Raleigh, NC
Submarket
Downtown Raleigh
Asset Class
Multifamily (Covered Land)
Strategy
Growth Market Mixed-Use
Size
127,000 SF (land)
Date Acquired
December 2021
Date Sold
Currently Owned by Turnbridge