0 East Garner Road and 0 Wilmington Road, Garner, NC 16105

Foundry Commercial, a North Carolina broker, has been retained as the exclusive agent for the owner of the Park at Garner Station (the "Property"), a ±96.86 acre master-planned development opportunity surrounded by parks, walkable to Downtown Garner, and five minutes to both White Oak Shopping Center (more than 1MSF) and I-40. The site is zoned for up to 950 residential units (350 single-family or townhomes, 600 multifamily units, and up to 35,000 SF commercial). Through the lengthy rezoning process, ownership has created a thoughtfully designed Planned Unit Development (PUD) and has executed a Development Agreement with the Town of Garner. The PUD permits a wide variety of residential product types (single-family detached, townhomes, and apartments), adds the potential for commercial and retail uses, and outlines off-site improvements that further enhance connectivity with the Downtown area and adjacent parks, including the future Yeargan Park (under construction).

A Development Agreement is in place with the Town of Garner which, alongside the PUD and zoning conditions, outlines the various infrastructure and roadway improvements that will be required for the property. Roadway improvements include enhancements to the E. Garner Road/New Rand Rd intersection, widening along E. Garner Road, a new access point to Creech Road, and others which are further outlined within the PUD and Development Agreement. In addition, the site will require a sewer extension of approximately 5,000 feet to the north, with construction drawings completed, all sewer easements secured (pending one final signature) and permits can be issued once the 401/404 permit is approved.

Since the surrounding area has experienced significant growth in the last few years, the Park at Garner Station represents a unique opportunity to introduce much-needed housing and a diverse mix of product types that will further strengthen and enliven the downtown district. Within just three miles of the site, more than 825 new single-family and townhomes have sold in the last 12 months, achieving impressive average prices of $485,171 for detached homes and $321,165 for townhomes. With robust employment bases in nearby Raleigh and Clayton, multifamily rent comparables remain strong, averaging $1,634 per month ($1.72 PSF). The Park at Garner Station is poised to meet the market's growing demand for quality housing close to employment centers while embracing the historic character of Downtown Garner.