North Carolina

Selected as a trusted advisor to the racing division of a major automotive company, PROPEL Real Estate Resources was tapped to support the complex acquisition of a large parcel of land for the $30M development of a test track, administration, and R&D Services buildings.

Once the site parameters were determined, the search was exhaustive, throughout North Carolina. The search considered topography, land use restrictions, price, proximity (to relevant locations), access, etc.

The target site was in the hands of multiple owners, a complexity that required the assemblage of five large adjacent parcels in order to yield the final 89 acres.

To ensure the confidentiality of the transaction, PROPEL was the named (blind) buyer and was the face of the real estate transaction, the economic development incentives negotiations, and the entitlements hearings.