REBusinessOnline

Beacon Partners to Break Ground on Mixed-Use Project in Charlotte

CHARLOTTE, N.C. — Beacon Partners is set to break ground this month on The Square at South End, which will include a 10-story building that will feature 150,000 square feet of office space and 8,000 square feet of ground-floor retail space. The project will also include a multifamily building that will be connected by an outdoor plaza. Construction is expected to be complete by the end of 2020. Amenities at the office building will include outdoor decks on multiple floors, a 2,400-square-foot …

NKF Negotiates $65.3M Sale of Waterfront Community in Eastern North Carolina

WILMINGTON, N.C. — Newmark Knight Frank (NKF) has negotiated the $65.3 million sale of Sawmill Point, a four-story, 280-unit waterfront community in Wilmington. Completed in 2017, the property offers one- and two-bedroom floor plans. Communal amenities include a saltwater swimming pool, bocce ball court, fire pits and a hammock garden. The complex fronts 815 feet along Cape Fear River, which feeds into the Atlantic Ocean. Alex Okulski, John Heimburger, Dean Smith, Sean Wood, Jason Kon and …

White Point, FCP to Redevelop Historic Mill in Charlotte for Adaptive Office Project

CHARLOTTE, N.C. — White Point and FCP have unveiled plans to redevelop historic Chadbourn Mill, a former hosiery and textile mill in Charlotte, into an adaptive office project. The new development will feature 40,000 square feet of office space and 2,000 square feet of restaurant space and retail space. JLL will be leasing the office component of the development, with Thrift Commercial Services handling the retail leasing. Construction is expected to be complete in 2020. The site is within …

Lantower Acquires New Apartment Complex in Northeast Charlotte for $62.8M

CHARLOTTE, N.C. — Lantower Residential has acquired Garrison Park, a 322-unit apartment complex in northeast Charlotte, for $62.8 million. The seller, The Spectrum Cos., delivered the asset in spring 2019. The property offers studio through three-bedroom floor plans and communal amenities such as a 4,100-square-foot fitness center, 7,500-square-foot clubhouse, saltwater swimming pool, dog park, game room and outdoor grilling areas. Garrison Park was 45 percent occupied at the time of sale. …

JLL Negotiates $405M Sale of Life Sciences Portfolio in Durham

DURHAM, N.C. — JLL has arranged the $405 million sale of Keystone Technology Park and Imperial Center, which total 1.3 million square feet of office space across 18 buildings adjacent to Research Triangle Park in Durham. The portfolio was 94 percent leased at the time of sale. The buildings feature a STEM ecosystem with buildouts and amenities including fitness centers, outdoor amenity space and lounges. Scot Humphrey, Ryan Clutter, Chris Norvell, Coleman Benedict and Zack Drozda of JLL …

JLL Negotiates Sale of 344-Unit Apartment Complex in Charlotte

CHARLOTTE, N.C. — JLL has negotiated the sale of Novel NoDa, a 344-unit, transient-orient apartment complex in Charlotte. The seller, Crescent Communities, developed the project in 2018. The property is situated on six acres at 424 E. 36th St., directly next to Charlotte’s LYNX 36th Street station and three miles from downtown Charlotte. The community is located within the NoDa (North Davidson) neighborhood. Communal amenities include a saltwater pool with sun shelf; common courtyard with …

Redwood Capital Purchases 245-Unit Lowrie Apartment Complex in Charlotte

CHARLOTTE, N.C. — Redwood Capital Group has purchased Lowrie, a 245-unit apartment complex in Charlotte’s Ballantyne neighborhood. The community offers amenities such as a saltwater swimming pool; grilling areas; dog-friendly rooftop lounge with outdoor TV; 3,000-square-foot fitness center with free weights, touch screen treadmills, stair climbers, recumbent bikes and Woodway self-propelled treadmill; yoga studio; and a 4,700-square-foot clubhouse with a catering kitchen, billiards, TV …

JPB Raleigh Holdings Acquires Office Campus in Raleigh for $39.8M

RALEIGH, N.C. — JPB Raleigh Holdings has acquired Northchase Executive Center, a two-building office campus in Raleigh, for $39.8 million. The property has a total of 176,620 square feet of office space. The two buildings were built in the mid-1980s and were 95.6 percent leased at the time of sale. The previous owners invested more than $14 million in renovations across the property, which is located at 6601 Six Forks Road. Jimmy Barnes of NAI Carolantic represented the buyer in the …

Spectrum, Invesco Break Ground on Mixed-Use Development in Charlotte’s South End

CHARLOTTE, N.C. — A joint venture between Spectrum Cos. and Invesco Real Estate has broken ground on a mixed-use development that will span five acres in Charlotte’s South End. The project will include two 11-story office buildings, an urban park with event space, restaurants, retail space and a 200-room hotel. The project will be located one block from the Carson light rail stop in South End and two blocks from Uptown. The two office towers will total 577,000 square feet of space and …

KBS Sells 300,389 SF Office Tower in Raleigh to Preferred Office Properties

RALEIGH, N.C. — KBS has sold CapTrust Tower, a 300,389-square-foot office tower in Midtown Raleigh, to Preferred Office Properties. KBS originally bought the tower in 2013 in a joint venture with Kane Realty Corp, which will stay on as a partner with Preferred Office Properties, a subsidiary of Atlanta-based Preferred Apartment Communities. Kane Realty built the tower, which was fully leased at the time of sale to tenants including CapTrust, Wells Fargo, PWC, Wasserman, Insight Global and …

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