Wake schools sell building for $2.61M

From staff reportsFebruary 9, 2012 

— The Wake County school board voted Tuesday to accept a bid of $2.61 million from a Raleigh developer for a building on 10 acres off Noble Road.

The sale of the building, which was formerly used by school administrators, infuses some cash into an account used to fund the operation and lease on the district's new consolidated headquarters in Cary. The school system is also trying to sell two other buildings, including its former headquarters on Wake Forest Road in Raleigh.

The Noble Road property in the Five Points area of the city was appraised for more than $5 million in 2008. Wake schools officials said it's worth less than they had thought because of the slow real estate market and because it is zoned residential.

Board member John Tedesco was the only member to vote against the sale.

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