Developer plans $250M project in downtown Raleigh

After a months-long search to find a buyer, William Peace University has closed on a $34 million deal to sell Seaboard Station, according to those who worked on the deal. The transaction is bringing in a substantial return for the university and clears the way for the new owner to launch a $250 million redevelopment project at the aging retail center.

PN Hoffman, a mixed-use developer active throughout Washington, D.C., is acquiring the roughly 7 acres and cluster of low-slung shops at the north…

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