Local News

Former Rex site for sale to highest bidder

Posted July 21, 2016

The former Rex Hospital location off Raleigh's Wade Avenue is up for sale.

— Set on a hilltop overlooking the intersection of Wade and St. Mary's but mostly concealed behind a thick cover of trees, is the sprawling 15-acre campus that's home — at least for now — to the State Division of Employment Security. The property can trace its roots back to 1937, when it became the third site for Raleigh's ever-expanding Rex Hospital.

In November 1935, the cornerstone was laid for what was actually the third incarnation of the hospital, this one at the intersection of Wade and St. Mary's.

About 40 years later, on September 21, 1980, the fourth and to-date final location of Rex Hospital was opened at 4420 Lake Boone Trail in West Raleigh, and the state purchased the “old Rex” site for a listed price of $2.45 million.

But that's all in the past. The big question is: what does the future hold for this prime piece of ITB real estate?

The truth is, no one really knows, save for this: it'll soon be sold to the highest bidder.

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