Business

The Dillon in downtown Raleigh sells for $236 million

Posted November 19, 2020 9:08 a.m. EST
Updated November 19, 2020 11:40 a.m. EST

— The Dillon, a mixed-use development that opened in 2018 in downtown Raleigh, has sold for $236 million.

Raleigh-based developer Kane Realty and FCP, a private real estate investment company based in Maryland, announced Thursday the 18-story building in Raleigh's Warehouse District was sold to an unidentified "institutional client" working with MetLife Investment Management.

The Dillon, known for its panoramic views of downtown, features 221,300 square feet of office space, 52,600 square feet of retail and 271 apartments in two buildings.

Retailers include O-Ku Sushi, Oak Steakhouse, Barcelona Restaurant, Weaver Street Market, Urban Outfitters, Heirloom Brew Shop, Shred415 and JoJa Nails.

"The Dillon was truly a game changer for downtown Raleigh's Warehouse District. The creativity and vision behind this distinctive project has brought more vibrancy and renewed energy to the area," developer John Kane, chairman and chief executive of Kane Realty, said in a statement.

"FCP is incredibly proud of our partnership with Kane Realty Corporation and our shared vision for the remarkable architectural, contextual and lifestyle impact The Dillon has brought to Raleigh, particularly within the Warehouse District where it has been a catalyst for growth," FCP Principal Erik Weinberg said in a statement.

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