North Carolina

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WILMINGTON, N.C. — CBRE has inked leases with five new retail tenants at Center Point, a mixed-use project under development in Wilmington. Totaling more than 13,000 square feet, the new leases will include Nest Interiors and Blended Shoes + Apparel — which will be merged into a shared space — as well as Burton’s Grill & Bar, Thompson’s of Wilmington and Jeff’s Bagel Run. These tenants mark the first retail commitments within Phase I of Center Point, which will feature approximately 33,000 square feet of retail space. A joint venture between Charleston-based The Beach Co. and locally based Swain & Associates is developing Center Point. Charlie Coyne and Matt Larson of CBRE represented ownership in the lease negotiations alongside internal leasing representative Sam Lathan of Swain & Associates. Upon completion, the mixed-use development will comprise more than 100,000 square feet of retail and restaurant space; The Sterling, a 265-unit residential complex; and office space. The property will be situated on more than 18 acres at the intersection of Eastwood and Military Cutoff roads near Mayfaire Town Center and Wrightsville Beach.

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DURHAM, N.C. — High Street Residential (HSR) has formed a collaboration with Camden Property Trust to advance the development of a 400-unit apartment community along Hopson Road in Durham. HSR, a subsidiary of Trammell Crow Co., had previously guided the project through design, rezoning and site plan approvals before collaborating with Camden, which will now lead the development. Camden expects to break ground on the unnamed development later this summer.

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RALEIGH, N.C. — Finmarc Management Inc. has sold Capital Marketplace, a 383,000-square-foot power shopping center located on 53 acres along U.S. Route 1 in Raleigh. The Bethesda, Md.-based investment and management firm sold the property to Des Moines, Iowa-based Principal Financial Group for $80.6 million. Adam Russ, Erin Varol, Ryan Sciullo and Casey Smith of CBRE represented the seller in the transaction. Finmarc originally purchased the center, then known as Plantation Point Shopping Center, in late 2021. Built in 2006, Capital Marketplace’s tenant roster includes Bob’s Discount Furniture, BJ’s Wholesale Club, Burlington, Dollar Tree, LA Fitness and ParTee Shack.

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GREENSBORO, N.C. — Colliers has brokered the sale of Edgewater Village, a 483-unit, garden-style apartment community located at 5500 Weslo Willow Circle in Greensboro. Will Mathews, Thomas Leachman, Chad DeFoor and Jake Bradshaw of Colliers brokered the transaction. Built in 1974, Edgewater Village sits on 45 acres and features five internal lakes. The property offers studio, one- and two-bedroom floor plans.

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CHAPEL HILL, N.C. — Cleveland-based Woodside Health has acquired Meadowmont Crossing, a three-story, 40,000-square-foot medical office building located at 400 Meadowmont Village Circle in Chapel Hill. The seller was an affiliate of Curbline REIT doing business as CL MEADOWMONT VILLAGE NC LP. The sales price was not disclosed. Built in 2001, the property is situated off NC Highway 54 and is anchored by UNC Health, a state-owned health system that operates 16 hospitals and hundreds of clinics across North Carolina.

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CHARLOTTE, N.C. — Averitt, a transportation and supply chain management company based in Cookeville, Tenn., has announced plans to develop a regional logistics campus near Charlotte Douglas International Airport. Charlotte Business Journal reports that the freight company is investing $200 million for the 100-acre campus. The development will include two distribution centers totaling more than 500,000 square feet; a 75,000-square-foot cross-dock facility; a two-story regional office totaling 16,000 square feet; and parking for more than 400 trailers. The campus will also offer fleet maintenance, fueling and driver support facilities. The investment is expected to double Averitt’s Charlotte area workforce over the next four years and will replace its current 40,000-square-foot service center at 3708 Westinghouse Blvd. that houses 182 full-time associates. Construction on the new campus is expected to begin immediately and wrap up in 2028.

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Twelve03-at-Centre-South

CHARLOTTE, N.C. — JLL Capital Markets has arranged a $100.5 million senior construction loan and equity capital for Twelve03 at Centre South, a 329-unit mixed-income multifamily development in Charlotte. Taylor Allison, Alexis Kaiser and Ryan Mueller of JLL secured construction financing through TD Bank and the equity placement from RXR Realty Investments on behalf of the borrower/developer, The Fallon Co. Situated near The Pearl, Charlotte’s first medical Innovation District, Twelve03 is the first phase of Centre South, a 16.7-acre mixed-use development. Twelve03 will comprise 263 market-rate and 66 affordable units. Amenities will include a sky lounge, rooftop saltwater swimming pool, coworking spaces, pet spa and a fitness center. Upon completion of the overall mixed-use development, the project will include 405,000 square feet office space, 36,000 square feet of retail, a 180-room hotel, a 1.5-acre green space and up to 975 apartments, with 20 percent of the Centre South’s residential units reserved as affordable housing.

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Project-J

CHARLOTTE, N.C. —  JLL Capital Markets has arranged a $16 million construction loan for Project J, an 84-unit apartment building in Charlotte’s South End neighborhood. Taylor Allison, Alexis Kaiser, Nick Thornton and Abby Reed of JLL secured the loan through Genesis Capital on behalf of the borrower, Panorama Holdings. Situated at 1722 S. Tryon St., Project J will span six floors and feature 30,457 square feet of rentable space, along with a mix of amenities such as a first-floor lounge, outdoor patio with a kitchen and grill, sixth-floor balcony patio, indoor bike storage on each floor and food locker services. The apartments at Project J are described as “micro units,” as they average 363 square feet in size.

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FAYETTEVILLE, N.C. — KeyBank Real Estate Capital has provided a $46.2 million bridge loan for the refinancing of a three-property multifamily portfolio in Fayetteville, about 65 miles south of Raleigh. Pranav Sarda and Alan Isenstadt from KeyBank’s Income Property Group structured the financing on behalf of the borrower, Valor Residential Group, which acquired the portfolio in 2022. The 508-unit portfolio comprises Carlson Bay (214 units, built in 2000), Meadowbrook (186 units, built in 2001) and Stoney Ridge (108 units, built in 2001).

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RALEIGH, N.C. — Kane Realty Corp. has signed Couchbase Inc. to a roughly 20,000-square-foot lease at The Offices at North Hills in Raleigh’s North Hills district. The San Jose-based AI data platform operator has six offices internationally and will use the Raleigh office as a “center for excellence.” Couchbase will occupy a full floor at 4350 Lassiter, a three-story building within The Offices at North Hills complex. Ben Litke and Kristine Smith of Cushman & Wakefield represented Couchbase in the lease negotiations. Hooker Manning and Alex Mikels represented Kane Realty internally.

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