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North Carolina

AcquisitionsHospitalityNorth CarolinaSoutheast

Milan Hotel Group Purchases Two-Property Hotel Portfolio in Asheville, North Carolina

by John Nelson

ASHEVILLE, N.C. — Milan Hotel Group has purchased a two-property hotel portfolio in Asheville, including the 88-room SpringHill Suites by Marriott Asheville (built in 2002) and the 78-room Courtyard by Marriott Asheville (built in 1996). An institutional seller sold the hotels to Milan Hotel Group for an undisclosed price. Sophia Pittaluga of Hunter Hotel Advisors brokered the transaction. The hotels are situated along Buckstone Place near the city’s Tunnel Road retail district, approximately five west of downtown Asheville. SpringHill Suites features kitchenettes in every room, along with a complimentary hot breakfast, an indoor pool and a fitness center. Courtyard by Marriott features The Bistro restaurant and Starbucks coffee service, as well as an indoor heated pool and 24-hour fitness center. Many rooms at Courtyard by Marriott feature private balconies that offer views of the Blue Ridge Mountains.

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AcquisitionsDevelopmentLife SciencesNorth CarolinaSoutheast

Ypsomed Buys Life Sciences Facility in Metro Raleigh, Plans $250M Biomedical Manufacturing Project

by John Nelson

HOLLY SPRINGS, N.C. — Ypsomed, a Swiss manufacturer of injection systems for the self-administration of insulin and other liquid medicines, has purchased a life sciences facility in Holly Springs, a suburb of Raleigh. The firm purchased Building H within The Yield Holly Springs from the developer, Charlotte-based Crescent Communities, for $31.5 million. Ypsomed plans to invest $250 million to establish the 110,000-square-foot property as its first manufacturing facility in the United States. Ypsomed plans to customize Building H to be operational in 2027.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Realterm Acquires 70,004 SF Truck Terminal Facility in Charlotte Leased to FedEx

by John Nelson

CHARLOTTE, N.C. — Realterm has purchased a 70,004-square-foot truck terminal and maintenance facility located at 7500 Statesville Road in Charlotte. The 13.7-acre property comprises a 58,184-square-foot, 94-door truck terminal and an 11,820-square-foot, 15-door maintenance shop. FedEx currently leases the fully lit and secured facility, which is situated in close proximity to I-77 and I-85. The seller and sales price were not disclosed.

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DevelopmentNorth CarolinaSoutheastStudent Housing

Landmark-Led Group Acquires 40-Acre Site Near Appalachian State University, Plans Cottage-Style Student Housing Development

by John Nelson

BOONE, N.C. — A joint venture between Landmark Properties, HC2 Capital and Peninsula Investments has acquired a 40-acre development site near the Appalachian State University campus in Boone. The parcel will be home to a 625-bed student housing community dubbed The Retreat at Boone. The development will offer 148 cottage-style units in three- through five-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style pool and spa with cabanas and hammocks; a jumbotron; fire pit and grilling areas; a skate park; fitness center; golf simulator; recreational lawn games; and a computer lab. The development team for the project, which is scheduled for completion ahead of Appalachian State’s 2027-2028 academic year, includes Landmark Construction and Niles Bolton Associates. Trustmark Bank and First Financial Bank provided construction financing.

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IndustrialLoansNorth CarolinaSoutheast

MMCC Arranges $8.9M Loan for Industrial Property in Robersonville, North Carolina

by John Nelson

ROBERSONVILLE, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.9 million loan for a 206,369-square-foot industrial property located at 201 E. 3rd St. in Robersonville. Flagstone Foods, a private healthy snack maker and distributor, fully occupies the facility. Chad O’Connor of MMCC’s San Diego office arranged the 10-year loan through a local credit union on behalf of the undisclosed borrower. The loan features a 6.09 percent interest rate and a 30-year amortization schedule.

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IndustrialLeasing ActivityNorth CarolinaSoutheast

Trammell Crow Signs Momentec Brands to 755,926 SF Industrial Lease in Kannapolis, North Carolina

by John Nelson

KANNAPOLIS, N.C. — Trammell Crow Co. has signed custom sports uniform manufacturer Momentec Brands to a full-building lease at Metro 63, a 755,926-square-foot distribution center in Kannapolis. Matt Treble, Fermin Deoca and Drew Coholan of Cushman & Wakefield represented Trammell Crow Co. in the lease deal. Bob Rosenthal and Grant Miller of Colliers represented Momentec Brands. Built in late 2022, the 94-acre property is located at 5700 Royce St., about 30 miles north of Charlotte via I-85. The facility, rebranded as The Momentec Customer Success Center, will house 700 employees once fully operational in the first half of 2026. The cross-dock facility features 40-foot clear heights, ESFR fire protection, multiple points of ingress and egress, 190-foot truck courts, 172 trailer drops, 490 auto parking spaces and 10 acres of auxiliary parking. Momentec Brands is consolidating its distribution network, which was spread across six properties in six states in the Southeast and Midwest. Momentec Brands is the result of a merger between Augusta Sportswear Brands and Founder Sport Group. The company is a subsidiary of Platinum Equity.

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EmergeOrtho Southpoint
HealthcareNorth CarolinaSoutheast

CBRE Arranges Sale of 35,171 SF Medical Outpatient Building in Durham

by Abby Cox

DURHAM, N.C. — CBRE has arranged the sale of EmergeOrtho Southpoint, a 35,171-square-foot medical outpatient building (MOB) and ambulatory surgery center (ASC) located within the larger Westpoint development in Durham. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin, Tom Fritsch and Joe Graham of CBRE represented the seller. Both the buyer and seller requested anonymity. EmergeOrtho Southpoint serves as a comprehensive orthopedic care center and is fully occupied by EmergeOrtho, North Carolina’s largest orthopedic group, and its affiliate Southpoint Surgery Center, which is a joint venture between EmergeOrtho and Surgery Partners. The remaining lease term for the building is more than 13 years. The property, which was constructed in 2020, features two operating rooms and four procedure rooms.

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Company NewsNorth CarolinaOfficeSoutheast

Maersk Selects Charlotte for New North American Corporate Headquarters

by John Nelson

CHARLOTTE, N.C. — Maersk, a global integrated logistics and shipping company, has selected Charlotte for its North American corporate headquarters. The company will invest $16 million in Mecklenburg County and will grow its Charlotte workforce to 1,300 jobs. The location of the company’s new offices and identity of the landlord were not disclosed. Maersk is a subsidiary of Danish firm A.P. Moller-Maersk and was founded in 1904. The new headquarters in Charlotte will house key corporate functions —  including finance, human resources, commercial strategy and technology — for its 10,000 North American employees. Maersk’s lease is the second headquarters relocation for Charlotte within a week as Scout Motors, a subsidiary of Volkswagen, announced its $206 million investment to move its regional headquarters to Charlotte.

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Novartis-Pathway-Triange_N.C
DevelopmentIndustrialNorth CarolinaSoutheastTop Stories

Novartis Announces $771M Pharmaceutical Manufacturing Expansion in North Carolina’s Research Triangle

by Hayden Spiess

DURHAM AND MORRISVILLE, N.C. — Pharmaceutical developer and manufacturer Novartis (NYSE: NVS) has announced a $771 million expansion of its footprint in North Carolina’s Research Triangle. According to the company, the expansion will create 700 new jobs in Durham and Wake counties and more than 3,000 indirect jobs by the end of 2030. The North Carolina expansion is part of the Swiss company’s pledge to invest $23 billion in U.S. infrastructure over the next five years. Doubling the company’s operational presence to more than 700,000 square feet, the expansion will significantly increase manufacturing capacity. The expansion will comprise new construction as well as the renovation of existing facilities across three sites in Durham and Morrisville. The new hub will include a new site in Durham housing two new facilities for manufacturing biologics and sterile packaging and a new site in Morrisville for the production of solid dosage tablets and capsules, as well as an expansion of an existing Durham facility to support sterile filling of biologics into syringes and vials. One of the new facilities will be located at Pathway Triangle, occupying 202,000 square feet at the 1 million-square-foot campus in Morrisville. CBRE represented both Novartis and the landlord, King …

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AcquisitionsNorth CarolinaRetailSoutheast

Simon Acquires 134,000 SF Phillips Place Shopping Center in South Charlotte

by John Nelson

CHARLOTTE, N.C. — Simon Property Group, the Indianapolis-based mall giant and retail REIT, has purchased Phillips Place, a 134,000-square-foot, open-air shopping center in Charlotte’s SouthPark neighborhood. The seller and sales price were not disclosed. Simon also owns the nearby SouthPark Mall. Phillips Place’s tenant roster includes more than 25 retail shops and restaurants, including alice+ olivia, Peter Millar, rag & bone, Ralph Lauren, Veronica Beard, RH Gallery (as well as its rooftop restaurant) and The Palm. The center is part of a mixed-use campus that includes a 180-room Hampton Inn & Suites hotel that Simon also owns and apartments. Simon’s plans for any redevelopment opportunities at Phillips Place were not released.

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