REBusinessOnline

The Fresh Market to Close 15 Stores Nationwide, Including Seven in Southeast

GREENSBORO, N.C. — The Fresh Market Inc. announced this week that it will close 15 stores nationwide, including seven in the Southeast. The impacted stores were selected after an analysis of overall growth and long-term financial performance, according to the Greensboro-based grocer. “Over the last eight months, our company has been executing a turnaround plan and we’ve seen great progress,” said Larry Appel, CEO of The Fresh Market, in a statement. “However, for a variety of …

CBRE Negotiates Sale of Publix-Anchored Center in Metro Charlotte

MOORESVILLE, N.C. — CBRE has arranged the sale of Brawley Commons, a 122,054-square-foot retail center in Mooresville, roughly 30 miles north of Charlotte. Mike Burkard and Steve Shields of CBRE arranged the transaction on behalf of the seller, a joint venture between Glenwood Development Co. and Magnolia Development Co. Atlanta-based New Market Properties, an affiliate of Preferred Apartment Communities, acquired the property. The purchase price was not disclosed, but the company financed …

Trez Forman Capital Provides $42M Construction Loan for Apartment Community in Metro Charlotte

HUNTERSVILLE, N.C. — Trez Forman Capital Group has provided a $42 million construction loan for a new 297-unit apartment community located at 17355 Old Statesville Road in Huntersville, roughly 15 miles north of Charlotte. Brett Forman of Trez Forman originated the loan on behalf of the project developer, Caldwell Station NC LLC. The 20-building community will include a mix of garden-style apartment units and for-rent townhomes. Community amenities will include a saltwater pool, clubhouse, …

NorthMarq Secures $28M Construction Loan for EVEN Hotel in Charlotte’s CBD

CHARLOTTE, N.C. — NorthMarq Capital has secured a $28 million construction loan for a new EVEN Hotel in Charlotte’s Central Business District. Mark Ebersold of NorthMarq arranged the financing through a local bank and a New York-based mezzanine lender on behalf of the borrower. According to local media reports, Mayfair Street Partners acquired the hotel site in 2017 with plans to develop the 176-room property. The hotel is part of Stonewall Station, a mixed-use project under development by …

Go Store It Breaks Ground on Two Self-Storage Facilities in Carolinas

ASHEVILLE, N.C. AND MT. PLEASANT, S.C. — Go Store It has broken ground on two new self-storage developments in Asheville and Mt. Pleasant. The Charlotte, N.C-based company specializes in the acquisition, development and management of self-storage assets throughout the country. The project in Asheville will feature more than 600 units and will be fully climate controlled. The development is located in the Woodfin submarket, just north of the city’s downtown. Go Store It owns three existing …

Coldwell Banker Brokers $7.4M Sale of Two Adjacent Office Buildings in Wilmington, N.C.

WILMINGTON, N.C. — Coldwell Banker Commercial Sun Coast Partners, a division of Coldwell Banker Commercial, has brokered the $7.4 million sale of two adjacent office buildings in Wilmington. MegaCorp Logistics, a Wilmington-based freight and logistics firm, acquired the assets from First Capital Group. Cody Cress and Tyler Pegg of The Cress Group, a division of Coldwell Banker Commercial Sun Coast Partners arranged the transaction on behalf of First Capital Group, and Spruill Thompson of Cape …

LRC Properties Signs Brewery, Tech Firm to 320,000 SF Historic Mill Renovation in Downtown Durham

DURHAM, N.C. — LRC Properties has signed leases with Hi-Wire Brewing and WillowTree Inc. to its Golden Belt Campus, a 320,000-square-foot historic mill located at 800 Taylor St. in downtown Durham. Robin Roseberry Anders and Jordan Williams of NAI Carolantic Realty represented LRC in the lease negotiations. Asheville, N.C.-based Hi-Wire Brewing is scheduled to open its third location, a 10,522-square-foot taproom, at the development by the end of October. The space will feature an outdoor …

Avison Young Negotiates Sale of 42.6-Acre Site in Charlotte, Buyer Plans 420,000 SF Industrial Project

CHARLOTTE, N.C. — Avison Young has negotiated the sale of a 42.6-acre site near the Norfolk Southern intermodal facility in Charlotte. The buyer, The Silverman Group, plans to develop a 420,000-square-foot industrial facility at the site, which is located at Charlotte Douglas International Airport, less than a mile from the $96 million Charlotte Regional Intermodal Facility. Dubbed the Charlotte Intermodal Logistics Center, the new facility will feature 36-foot clear heights and cross-docking …

RealOp Investments Acquires Seven-Building Office Portfolio in Triangle for $30.6M

RALEIGH, N.C. — RealOp Investments has purchased a seven-building office portfolio spanning more than 223,000 square feet in the Raleigh-Durham area. The Greenville, S.C.-based investor purchased the portfolio from Sun Life Assurance Co. of Canada, a subsidiary of Sun Life Financial, for $30.6 million. The properties in the sold portfolio include RDU Center I, a 60,083-square-foot office building located near Raleigh-Durham International Airport; Horizon I, II and IV, three office assets …

PointOne Holdings Breaks Ground on Two Apartment Projects Totaling $90M

NEWNAN, GA. AND HOLLY SPRINGS, N.C. — PointOne Holdings has broken ground on two multifamily communities in Georgia and North Carolina totaling 614 units. Combined, the projects are valued at $90 million. In the Atlanta metro of Newnan, PointOne started construction on The Promenade at Newnan Crossing, a 298-unit community comprising three-story apartments and townhomes. In the Raleigh-Durham suburb of Holly Springs, the South Florida-based apartment owner and developer has broken ground on …

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