CHARLOTTE – JLL announced today it has advised on the sale of the approximately 400-acre Carolina Springs, a fully entitled, master-planned development site zoned for residential and commercial in the Raleigh-area community of Holly Springs, North Carolina.

Capital Properties of Raleigh, Shenandoah Homes and Lennar Corporation partnered to purchase the property.

Carolina Springs is a fully entitled master-planned community totaling approximately 400 acres, which is being developed by Capital Properties of Raleigh, Shenandoah Homes, and Lennar Corporation. The site is zoned for up to 1,700 residential units and 1.02 million square feet of commercial space, and is located within the top-rated Wake County Public School System. The site is also proximate to other successful communities, including 12Oaks, Stillwater and Woodcreek, all of which have contributed to the Wake County/Holly Springs area’s rapid economic expansion and population growth. Carolina Springs will provide excellent connectivity to employers in Research Triangle Park and Downtown Raleigh via the nearby US-1/Interstate 540 interchange.

The JLL Capital Markets team of Managing Director Justin Good, Director Sarah Godwin and Senior Associate John Mikels amassed the purchase team and advised on the deal structure between the parties.