NAI Carolantic Realty, Inc.
5121 Kingdom Way
Suite 200

Raleigh, NC United States 27607
t+1 (919) 714-7132 f+1 (919) 832-7385
Richard
Hibbits
Broker

Specialties: Industrial, Investment

Background & Experience
Since beginning his real estate career in 1971, Mr. Hibbits has gained experience in every facet of real estate: residential sales and construction, raw land sales, commercial development, commercial leasing, income property sales, management, receivership, syndication, and dealing with “odd” or “problem” properties.

Specific accomplishments include the sale of the Sir Walter Hotel in Downtown Raleigh; sales and development of the 350 acre Weatherstone Planned Urban Development in Cary; arranging the sale and development of the 125 acre Data General/ECM plant site in Apex; development of over 900,000 square feet of commercial buildings; and being named as court-appointed receiver of a 840,000 square foot warehouse development. Mr. Hibbits is responsible for compilation of the statistics presented at the Annual Triangle Commercial Real Estate Conference.

Mr. Hibbits joined NAI Carolantic Realty in 1976.

Education
Mr. Hibbits is a graduate of the University of North Carolina, Chapel Hill.
Professional Associations & Designations
NAI Global: Carolantic has been the Raleigh/Durham affiliate for NAI Global since 1982. This network enables us to assist clients in multi-market expansions or dispositions throughout the world.

Triangle Commercial Association of Realtors (TCAR): An organization of licensed commercial real estate brokers, enabling members to advance their education and knowledge of issues impacting commercial real estate on local, state and national levels.

University of North Carolina at Chapel Hill: Member of the Dean’s Working Group for the Entrepreneurship Minor.

Moorhead Planetarium & Science Center: Board member.

North Carolina Master Chorale: Board member

NCSU Center for Environmental Farm Systems: Board member.
Transaction History
Select Client List:
• EMC, Inc. (formerly Data General): Located a 125-acre plant site and coordinated government help to overcome water, sewer and access problems in Apex, NC.
• US Bankruptcy Court: Court appointed Receiver for Lincoln Park North, an 840,000 square-foot, 15-building warehouse development in Raleigh, NC.
• Sir Walter Associates: Brokered the sale of the Downtown hotel project for conversion to multifamily use in Raleigh, NC.
• Tanager Properties, LLC: Developed a 98,000 square-foot flex project in Raleigh, NC.
• Duraleigh Corners Shopping Center: Developed a 68,000 square-foot unanchored retail strip center in Raleigh, NC.