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On Monday, Holliday Fenoglio Fowler announced the $10 million sale of 2.17 acres along Harrington Street to an affiliate of Kane Realty and Williams Realty and Building Co.
The site is set to include mixed-use retail and a significant amount of office space, according to HFF.
It will be the second phase of the Peace and West redevelopment that already includes a high-rise, 417-unit apartment building with a Publix grocery store on the ground level.
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"It gives downtown Raleigh a lot of density which is what was really important because it does allow us to have a place where you can really park your car, leave it there for a week, go to the grocery store, go to restaurants, go to bars, go to work, and never have to get back in your car," said Bill King with the Downtown Raleigh Alliance.
Construction on Phase I of the project is already underway along with the NC Department of Transportation's Peace Street Bridge replacement.
The NCDOT is planning for more road closures and detours related to the bridge replacement that, along with the Wade Avenue Bridge replacement, is scheduled to last through 2019.