Richard Hibbits, Vice President
rhibbits@naicarolantic.com

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 and became a principal in the firm in the early 1980's.

Select Client List:

• Data General: Located a 125-acre plant site and coordinated government help to overcome water, sewer and access problems.
• US Bankruptcy Court: Court appointed Receiver for Lincoln Park North, an 840,000 square foot, 15 building warehouse development.
• Sir Walter Associates: Brokered the sale of the Downtown Raleigh hotel project for conversion to multifamily use.
• Tanager Properties, LLC: Developed a 98,000 square foot flex project.
• Duraleigh Corners Shopping Center: Developed 68,000 square foot unanchored retail strip center

Professional Affiliations:
NAI Global: Carolantic has been the Raleigh/Durham affiliate for NAI since 1982. This network enables us to assist clients in multi-market expansions or dispositions throughout the world.

Hart Corporation: NAI Carolantic has been the Raleigh/Durham affiliate since 1995. This network enables us to assist clients in the acquisition or disposition of rural industrial real estate in the Triangle area.

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.

Education:
A graduate of the University of North Carolina, Chapel Hill.