SLI Capital, Regent Acquire 15 Parcels in Raleigh for Phase II of East End Market
RALEIGH, N.C. — A joint venture between SLI Capital and Regent Partners has acquired 15 parcels totaling approximately 10 acres in Raleigh for the second phase of the East End Market mixed-use development. Seven undisclosed entities sold the 15 parcels to the joint venture for a total of approximately $18 million.
Located on Whitaker Mill Road between Wake Forest Road and Atlantic Avenue, East End Market is a mixed-use, food and beverage destination that will offer a collection of restaurants, apartments, shops and office spaces.
Phase I of East End Market began in March and is expected to be completed by the end of the year with the first tenants expected to move in shortly thereafter. The tenant lineup includes East End Bistro, a French chop house by acclaimed restaurateur Giorgios Bakatsias; Shady Grove Cider Co., Raleigh’s first cidery; Common Desk, a Texas-based coworking brand; and local businesses Campion Capital and Piedmont Capital.
Phase II will include new construction featuring 235,000 square feet of office space, 40,000 square feet of retail and food and beverage and 465 apartments. The project is fully capitalized via a joint venture with Koch Real Estate Investments. Construction will commence without any preleasing, according to the developers. The second phase is expected to complete in late 2023.
William Allen of Trinity Partners oversees leasing for the office space for Phase II.
East End Market is the second joint venture between SLI Capital and Regent Partners. Their first project breaks ground in Nashville this summer. SLI Capital is a Raleigh-based real estate investment firm, and Regent Partners is an Atlanta-based real estate development and investment company. Koch Real Estate Investments is a Dallas-based real estate investments firm.