Raleigh, NC (October 21, 2015) — W. Michael (Mike) Lewis, CCIM, SIOR and Principal of The Lewis Group/CORFAC International announced the sale of a 4,445-square-foot commercial building located in the Hillsborough Street and Western Blvd. corridor in Raleigh and the immediate five-year lease of the property to McCormick Paints.
Lewis represented a local investor and the buyer in the transaction, WooDaddy LLC. The seller was Fred’s Beds, which operated a mattress sales and showroom at the location – 5521 Western Blvd., for many years. The sale price was not disclosed. However, the deal included a yellow, 1999 Volkswagen Beetle that was almost always parked in front of the mattress store and seen by thousands of Raleigh and Cary residents driving by on Western Blvd.
McCormick Paints was referred to Lewis by Brian Coakley, SIOR and a Senior Vice President with Donahoe Real Estate Services/CORFAC International, which has offices in Washington, DC, Tysons Corner, VA and Silver Spring, MD.
McCormick Paints is a family owned business that was incorporated in 1960 and is based in Rockville, MD. The Raleigh store will be the company’s 29th retail outlet when it opens. All of the stores are in the Mid-Atlantic States of Maryland, Delaware, Virginia and now North Carolina.
The new Raleigh location will undergo tenant improvements and should be ready for occupancy in late 2015 or early 2016.
“Donohoe Real Estate Services/CORFAC International has exclusively represented McCormick Paints for all of its stores for over 20 years,” said Brian Coakley. “Our membership with CORFAC International has been key in helping us to assist McCormick Paints with their expansion beyond the Baltimore/Washington area. This is the company’s third store outside the region. We worked with another CORFAC affiliate, Porter Realty/CORFAC International in Richmond, VA to open two stores in that market over the last 18 months.”
About CORFAC International
CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Chicago, IL-based CORFAC has 48 offices in the U.S., 7 in Canada and 24 offices internationally. Founded in 1989, CORFAC firms completed (in 2014) more than 10,000 lease and sales transactions totaling 400 million square feet of space valued in excess of $7.4 billion. For more information on the CORFAC network, call the Chicago headquarters at 224.257.4400 or visit www.corfac.com.