North Carolina

Columbia Development to Deliver 326,850 SF Grocery-Anchored Center in North Carolina

NEW BERN, N.C. — Columbia Development has unveiled plans to develop New Bern Marketplace, a 326,850-square-foot grocery-anchored shopping center located on Highway 17 and Glenburnie Road in New Bern near North Carolina’s Crystal Coast. A 100,000-square-foot Harris Teeter, which will include a fuel station and drive-thru pharmacy, will anchor the property. The center will also be home to Academy Sports + Outdoors, Hobby Lobby, West Marine, Ross Dress for Less, Ulta Beauty, Pet Supermarket,..

October 20, 2017

CBRE | Raleigh Arranges $38.9M Sale of Five-Building Office Portfolio in Metro Raleigh

RALEIGH AND CARY, N.C. — CBRE | Raleigh has arranged the sale of a five-building office portfolio in metro Raleigh. Ben Kilgore, Jim McMillan, Elliott Brewer and Leslie Holmes of CBRE | Raleigh arranged the transaction on behalf of the seller, Highwoods Properties Inc. Alder Kawa Real Estate Advisors (AKREA) acquired the assets for a combined $38.9 million, according to the Triangle Business Journal. The portfolio includes Situs Office Park, a three-building office park totaling 156,665..

October 19, 2017

FCP Acquires Apartment Community in Charlotte for $22M

CHARLOTTE, N.C. — Federal Capital Partners (FCP) has acquired Hunters Pointe Apartments, a 386-unit multifamily community in Charlotte, for $22 million. Capstone Apartment Partners represented the undisclosed seller in the transaction. FCP will invest more than $2 million in capital improvements and amenity enhancements, including the addition of a new swimming pool, new playground, dog park and grilling stations. The company will also upgrade the community’s entrance, leasing office,..

October 18, 2017

Regency Centers, ITB Holdings to Break Ground on Wegmans-Anchored Center in Raleigh

RALEIGH, N.C. — Regency Centers, in partnership with ITB Holdings LLC, will break ground this month on Midtown East, a new retail center in Raleigh. A 120,000-square-foot Wegmans will anchor the property, which will include an adjacent 400-space, elevated parking deck and five additional retail buildings. Williams Co. Southeast is the project’s construction manager. Gensler designed the center, and McAdams is the project’s civil engineer. Midtown East is slated to open in the second..

October 17, 2017

Bellwether Enterprise Closes $42.1M Refinancing for Three Affordable Housing Properties in Charlotte

CHARLOTTE, N.C. — Bellwether Enterprise Real Estate Capital LLC has arranged $42.1 million in refinancing for three affordable housing properties in Charlotte. Victor Agusta of Bellwether Enterprise arranged the loans under the FHA 223(f) program on behalf of the borrower, Horizon Development Properties Inc. (HDP), an affiliate of the Charlotte Housing Authority. HDP received a $24.1 million loan for Southside Homes. The income-based housing development serves seniors, families and..

October 17, 2017

Canyon Provides $10.3M in Preferred Equity for Development of Multifamily Property in Raleigh

RALEIGH, N.C. — Canyon Partners Real Estate LLC has provided a $10.3 million preferred equity investment for the development of ParkStone at Knightdale, a 350-unit multifamily community in Raleigh’s Knightdale submarket. An affiliate of The Widewaters Group Inc. is developing the property. ParkStone at Knightdale will be situated adjacent to the Widewaters Commons shopping center, which is anchored by Lowe’s Foods and Planet Fitness, and within walking distance to numerous other shops and..

October 12, 2017

ECHO Realty Acquires Two Harris Teeter-Anchored Retail Centers Near Charlotte

CONCORD AND MATTHEWS, N.C. — ECHO Realty has acquired two Harris Teeter-anchored shopping centers in metro Charlotte: Cannon Crossroads in Concord and Matthews Township Shopping Center in Matthews. The sales prices and sellers were not disclosed. The acquisitions bring ECHO’s portfolio in the Charlotte area to six grocery-anchored centers totaling 500,000 square feet. The 67,000-square-foot Cannon Crossroads is located at the intersection of Harris and Poplar Tent roads, roughly 25 miles..

October 12, 2017

Eco Group Unveils $800M Mixed-Use Development in Metro Raleigh-Durham, North Carolina

PITTSBORO, N.C. — Eco Group, a joint venture between John Fugo of Montgomery Carolina LLC and Kirk Bradley of Lee-Moore Capital Co., has unveiled plans for Mosaic, an $800 million mixed-use project in Pittsboro, 30 miles southwest of Raleigh-Durham. Upon full completion, Mosaic will feature over 200,000 square feet of local and regional retailers, restaurants and services including a micro-brewery, specialty grocer and farm-to-table restaurant cluster; a 120-room hotel; 210 apartment units..

October 12, 2017

GCP Buys 1.2 MSF Industrial Portfolio in Charlotte, Orlando for $74M

CHARLOTTE, N.C. AND ORLANDO, FLA. — GCP has acquired a 1.2 million-square-foot industrial portfolio in Charlotte and Orlando for $74 million. The portfolio includes two warehouses within Legacy Park West in Charlotte: a 126,000-square-foot facility fully leased to Elite Logistics and a recently completed, 432,000-square-foot building. Avison Young will handle the new building’s leasing efforts. The portfolio also includes Lake County Distribution Center, a 706,722-square-foot property in..

October 9, 2017

ZOM to Break Ground on 203-Unit Apartment Community in Charlotte

CHARLOTTE, N.C. — ZOM Living has unveiled plans to develop Hazel SouthPark, a 203-unit multifamily community in Charlotte’s SouthPark neighborhood. The Orlando-based multifamily developer will break ground on the six-story community early next year. Located at 4401 Barclay Downs, the site includes a former 38,300-square-foot office building that will be redeveloped. ZOM recently acquired the 2.7-acre site for $13.2 million, and Rob Cochran, Jared Londry and Nolan Ashton of Cushman &..

October 9, 2017