Tri Properties Honors the Life and Legacy of Steve Stroud

July 13th, 2026

Tri Properties mourns the passing of E. Stephen “Steve” Stroud, a respected commercial real estate leader whose vision, determination, and commitment to the Triangle helped shape the region’s growth for more than 60 years. His influence can be seen across some of the area’s most significant commercial developments, civic initiatives, and economic development successes.

NAI Tri Properties Steve Stroud

Steve began his real estate career in 1965 and founded Carolantic Realty in 1972, building the company into one of the Triangle’s most recognized commercial real estate organizations. Over the course of his career, he developed a reputation for identifying opportunities where others saw challenges, particularly in assembling large and complex land holdings that became catalysts for regional growth.

His work contributed to many of the developments that helped define the modern Triangle. Among the projects associated with his career were Imperial Center in Durham, Crossroads in Cary, White Oak Crossing in Garner, Highwoods Office Park, One North Commerce Center, the Rex Drive Office Complex, the Arbors Complex, and the original land assemblage surrounding Raleigh-Durham International Airport. These developments supported job creation, attracted investment, and helped establish the Triangle as one of the nation’s leading business markets.

Steve’s impact extended far beyond commercial real estate. A passionate advocate for Raleigh’s future, he played a leadership role in the development of what is today the Lenovo Center. As Chairman of the Centennial Authority, he helped guide the effort to bring a major sports and entertainment venue to the region. He was also instrumental in helping attract the NHL franchise now known as the Carolina Hurricanes, a milestone that elevated the Triangle’s profile on a national stage.

Throughout his life, Steve remained deeply committed to public service and civic leadership. He served as President of the North Carolina Railroad Company, helped advance statewide economic development initiatives, supported numerous business and community organizations, and dedicated significant time to NC State University as a past president of the Wolfpack Club and advisor to the university’s business school.

His accomplishments earned recognition from across the business, real estate, and civic communities. Among many honors, Steve received the Triangle Business Journal CEO of the Year Award, Pillar Award, and Legacy Leader Award; was named Commercial Realtor of the Year by the Triangle Commercial Association of Realtors; Impact Award by Triangle Commercial Real Estate Women; and was awarded the Order of the Long Leaf Pine, one of North Carolina’s highest civilian distinctions.

In 2020, NAI Carolantic Realty joined forces with Tri Properties, bringing together two long-standing organizations with a shared commitment to client service, market expertise, and community investment. When reflecting on that decision, Steve spoke candidly about why he chose Tri Properties and Greg Sanchez as the future steward of the company he built: “Greg Sanchez is the only knowledgeable broker that’s honest and the only one I’d want my name associated with.” The trust and respect between the two leaders helped create a partnership that continues to serve clients and communities across the region.

In February, Tri Properties had the privilege of celebrating Steve’s remarkable career and lasting impact on the Triangle by presenting him with a sculptural bronze bust in his honor. Reflecting on his decades in real estate, Steve summed up his career with characteristic humility: “I’ve enjoyed the ride, I can tell you that.” Those simple words captured the gratitude, optimism, and passion that defined both his career and his approach to life.

“Steve’s influence on the Triangle is difficult to overstate. His work helped create places where businesses could grow, communities could prosper, and people could come together. Beyond his accomplishments, he will be remembered for his leadership, generosity, and belief in the future of this region. We are grateful for the opportunity to have worked alongside him and to carry forward the legacy he helped build.”

– Greg Sanchez, CEO, Tri Properties

Steve leaves behind an extraordinary legacy that will continue to shape the Triangle for generations. The buildings, developments, institutions, and community assets connected to his work stand as a testament to a career dedicated to creating opportunities and investing in the future of North Carolina.

Even after witnessing decades of growth and transformation across the Triangle, Steve remained excited about what lay ahead. During Tri Properties’ celebration in February, he reflected on the region’s future and said, “We were at the right place at the right time, Greg.” Yet he firmly believed the Triangle’s greatest opportunities remained ahead.

Steve closed his remarks with a prediction that perfectly reflects the legacy he leaves behind:

“We have just rounded the corner and are looking at a long straight highway for this region. We have a lot to look forward to.”

That optimism helped shape Steve’s career and the region he loved. Today, the communities, businesses, institutions, and developments touched by his work stand as a lasting reminder of a life dedicated to building a stronger Triangle.

The Tri Properties family extends its heartfelt condolences to Steve’s family, friends, colleagues, and all whose lives were enriched by his leadership, friendship, and vision.