CLAREMONT, N.C. — Prysmian North America plans to invest $1 billion to expand its cable manufacturing plant in Claremont, a northern Charlotte suburb in Catawba County. The investment will expand the company’s fiber optic and glass cable manufacturing operations and create 385 jobs. The expansion will grow Prysmian’s physical footprint at the Claremont facility by 975,000 square feet. The office of North Carolina Gov. Josh Stein has announced that a performance-based grant of $1 million from the One North Carolina Fund will be awarded to Prysmian Cables and Systems USA LLC to help the company expand in North Carolina. Civic and utility partners involved in this project include North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, Catawba Valley Community College, Duke Energy, Piedmont Natural Gas, Catawba County, the City of Claremont and the Catawba County Economic Development Corp. Prysmian North America is the U.S. arm of Milan, Italy-based Prysmian and has its regional headquarters in Highland Heights, Ky. Prysmian was founded in 1879 and operates more than 100 plants worldwide, including 50 locations in North America employing 9,000 associates.
RALEIGH, N.C. — JLL has brokered the $36 million sale of Townridge Shopping Center, a 273,105-square-foot shopping center in Raleigh. Tom Kolarczyk, Michael Nieder and Brian Page of JLL represented the seller, Zeisler-Morgan Properties, in the transaction. Travis Anderson and Ward Smith, also with JLL, secured $26.5 million in acquisition financing for the buyer, Armstrong Capital Development (ACD). Walmart and Planet Fitness anchor the center, which was 96 percent leased at the time of sale. Other tenants include Chipotle Mexican Grill, Advance Auto Parts, Cato, AT&T, Burger King, Edible Arrangements and Papa Johns Pizza, according to LoopNet Inc. The property features five buildings at Townridge Shopping Center and a single building at the adjacent Village at Townridge that function together as a unified commercial site.
CHARLOTTE, N.C. — A joint venture between Houston-based Hines and locally based Harris Land Co. plans to develop The Gallery SouthPark, a mixed-use campus located along Carnegie Boulevard in Charlotte’s SouthPark district. The mixed-use property will comprise a 250,000-square-foot, Class A office building; 19-story, 302-unit residential building; shops and restaurants on the ground level of the two buildings; and an activated plaza displaying public art. The co-developers have tapped John Ball, Karah Tanneberger and Claiborne Mulhern of JLL to lead the office leasing efforts at The Gallery SouthPark. The project represents the first planned ground-up development in the Charlotte market for Hines.
If you’ve been watching the Charlotte multifamily market for the past 24 months, you’ve probably felt a little whiplash. We delivered a historic wave of new supply, somewhere north of 32,500 units across 2024 and 2025 combined, and a lot of the headlines focused on the same thing: concessions, occupancy pressure and softening rents. Fair. That was the reality on the ground for most operators. But if you look closely at what’s happening right now, a different story is starting to take shape, and it’s one we think may not be getting enough attention. The trend our team is watching most closely heading deeper into 2026: absorption is holding up remarkably well against an elevated supply picture. In fact, we’re starting to see positive rent growth re-emerge on select deals, particularly in well-located submarkets where the construction pipeline has tapered. While this isn’t a market-wide victory lap yet, the green shoots are real, and they’re showing up exactly where you’d expect them to. The data is telling us that Charlotte multifamily rents rose modestly in the first quarter of 2026 as construction starts slowed, with completion totals in 2026 expected to trail levels recorded in 2025 by 26 percent. That’s …
CHARLOTTE, N.C. — New York-based Tishman Speyer has purchased Berkshire Dilworth, a 296-unit apartment community located at 1351 E. Morehead St. in Charlotte. Berkshire Residential sold the property to Tishman Speyer’s TS Plus fund for $76.3 million, according to the Charlotte Business Journal. The community is Tishman Speyer’s first acquisition in the Charlotte area and its second in North Carolina this year following the company’s purchase of The Maggie in Raleigh in January. Built in 2016, Berkshire Dilworth features studio, one- and two-bedroom apartments, as well as ground-level retail space, a fitness center, outdoor pool, rooftop lounge, yoga room and private pet spa. The property was 97 percent occupied at the time of sale.
CHARLOTTE, N.C. — A partnership between GMH Communities, AEW Capital Management and Wexford Science & Technology LLC has acquired land within The Pearl innovation district in Charlotte. The partners plan to develop ANOVA The Pearl, a 20-story, 382-unit luxury apartment tower. Completion is slated for summer 2028. ANOVA The Pearl will encompass 1.3 acres and feature luxury residential accommodations alongside 6,621 square feet of ground-floor retail space. Of the 382 units, 5 percent will be reserved for affordable housing. Amenities will include a fitness center, clubhouse, golf simulator, sauna and cryotherapy chambers. The developers say the project is designed to meet the growing demand for high-quality housing for professionals working in the life sciences, healthcare and technology industries. The Pearl innovation district, developed through a public-private partnership led by Atrium Health and Wexford Science & Technology, is anchored by Wake Forest University School of Medicine Charlotte, the city’s first four-year medical school. “We are attracted to locations that we believe benefit from strong institutional anchors and create opportunities for residents to live near major centers of employment and innovation. ANOVA The Pearl reflects these characteristics and represents a residential development within a unique and evolving district in Charlotte,” says Sara …
MONROE, N.C. — Regions Real Estate Capital Markets has originated a $64.3 million Freddie Mac loan for the refinancing of Elevate Rocky River, a 360-unit apartment community in Monroe, about 28 miles southeast of Charlotte. Andrew Buckley was Region’s loan originator on behalf of the borrower, Greensboro, N.C.-based Signature Properties Group. The fixed-rate loan has a 10-year term, 35-year amortization schedule and a six-year period of interest-only payments. Built in 2024, Elevate Rocky River comprises one- and two-bedroom units, as well as a pool, fitness center and a clubhouse with a lounge and business center.
APEX, N.C. — Boston-based Marcus Partners has purchased a site off Jenks Road in Apex for the development of Alta Apex, a 280-unit apartment community. The project represents the first development in the Raleigh-Durham market for Marcus Partners, which is spearheading the construction from its Atlanta office along with Wood Partners. The co-developers will begin sitework and construction this month and aim for delivery in fourth-quarter 2027. Upon completion, Alta Apex will include a mix of walk-up and elevator-served buildings housing one-, two- and three-bedroom apartments. Amenities will include a resort-style pool, indoor and outdoor fitness areas, clubroom with coworking space, dog park and a pet spa.
INDIAN TRAIL, N.C. — Marcus & Millichap has brokered the $3.3 million sale of Village Shoppes, an unanchored retail strip center located at 323 Unionville Indian Trail Road in Indian Trail, about 16 miles southeast of Charlotte. A fund-based private equity group purchased the 12,075-square-foot property form a partnership based on the West Coast. Both parties requested anonymity. Harrison Creason, Andrew Margulies and Kyle Carpentier of Marcus & Millichap represented the seller in the transaction. Situated on a 2-acre lot near a Walmart Supercenter, Village Shoppes was fully leased at the time of sale to Little Caesars, a dentist practice, pet store and salon and a performing arts studio.
After several years of unprecedented industrial expansion, the Charlotte market is entering a more disciplined phase of growth, and that may ultimately prove healthier for the region long term. While headlines continue to focus on elevated vacancy rates, the underlying fundamentals of the market remain sound, particularly for modern, Class A product and strategically located logistics corridors. Charlotte absorbed nearly 60 million square feet of industrial deliveries since 2020, fundamentally reshaping the region’s supply chain infrastructure and elevating the market into one of the Southeast’s premier logistics hubs. Today, the conversation is no longer centered around whether Charlotte can attract industrial users, it is about how the market recalibrates after an aggressive development cycle. That recalibration is already underway. Construction starts have slowed considerably, with the development pipeline contracting to approximately 4.8 million square feet in first-quarter 2026, down significantly from the previous 10-quarter average of 8.7 million square feet. At the same time, leasing activity has remained healthy, totaling approximately 2.2 million square feet during the first quarter. Vacancy appears to be flattening as leasing volume continues to outpace new deliveries. One of the clearest trends shaping the market is the continued “flight to quality” among occupiers. Large users …
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