North Carolina

CBRE Arranges Five Industrial Leases at 42 West Business Park in Metro Raleigh

by John Nelson July 19, 2024

CLAYTON, N.C. — CBRE has arranged five new leases at 42 West Business Park, a newly developed flex/light industrial property in Clayton, 17 miles outside downtown Raleigh. Delivered at the end of 2023, the development comprises two warehouses totaling 125,000 square feet. Habitat for Humanity of Wake County will occupy the entirety of Building 1, which totals 25,000 square feet. Together, the tenants will occupy 65,787 square feet, bringing the property to over 50 percent occupancy. Austin Nagy and John Hogan of CBRE represented the landlord, Charlotte-based Pace Commercial, in the lease negotiations.

July 19, 2024

Development Loans North Carolina Seniors Housing Southeast

Ziegler Arranges $76.2M Bond Financing for Seniors Housing Community in Chapel Hill, North Carolina

by John Nelson July 17, 2024

CHAPEL HILL, N.C. — Ziegler has arranged $76.2 million in bond financing for Carolina Meadows, a continuing care retirement community (CCRC) in Chapel Hill, part of the Raleigh-Durham metropolitan area. Carolina Meadows was formed in 1983 to develop, own and manage the community. The property features 476 independent living units, 78 assisted living units (95 beds in operation) and 78 skilled nursing units (86 beds in operation). This ranks Carolina Meadows as the 20th largest nonprofit, single-site CCRC in the country, according to the 2023 LeadingAge-Ziegler 200. Carolina Meadows plans to develop, own and operate a replacement nursing facility that will total approximately 122,000 square feet. The project will bring a progressive new care model to Carolina Meadows and will include a total of 90 beds, comprised seven 12-person households with the possibility of dual-occupancy in one unit in six of the households. Each unique household is designed to resemble a home, and include a living room, kitchen, den and direct access to outdoor spaces. Upon completion of the project, which is scheduled for April 2026, Carolina Meadows will transfer residents from its existing health center to the new health center.

July 17, 2024

Acquisitions North Carolina Southeast Student Housing

CBRE Negotiates Sale of 894-Bed Student Housing Community Near Appalachian State University

by John Nelson July 11, 2024

BOONE, N.C. — CBRE has negotiated the sale of The Cottages of Boone, an 894-bed student housing community located near the Appalachian State University campus in Boone. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE’s national student housing team, in partnership with Kevin Kempf of the company’s Southeast multifamily group, represented the seller, Mapletree Global Student Accommodation Private Trust, in the transaction. Timberline Real Estate Ventures and a real estate fund managed by Ares Management acquired the property for an undisclosed price. The cottage-style community offers shared amenities including a fitness center, yoga studio, dry sauna, steam room, clubhouse, arcade games and sports tables, a bar, library, computer lounge, private conference room, swimming pool, hot tub, fire pit, grilling station and an outdoor fireplace.

July 11, 2024

Acquisitions Multifamily North Carolina Southeast

Cushman & Wakefield, Greystone Arrange Sale of 247-Unit W Flats Apartments in East Charlotte

by John Nelson July 11, 2024

CHARLOTTE, N.C. — A joint venture between Cushman & Wakefield and Greystone has arranged the sale of W Flats, a 247-unit apartment community located at 7200 Wallace Road in east Charlotte. Rise48 Equity LLC purchased the property from LIV Acquisitions for an undisclosed price. Paul Marley, John Phoenix, Alex McDermott and Gavin Conlon of Cushman & Wakefield represented the seller in the transaction. Donny Rosenberg and Daniel Kaweblum of Greystone originated a three-year, acquisition loan featuring two one-year extension options on behalf of the buyer. According to Apartments.com, W Flats features studio, one- and two-bedroom apartments ranging in size from 523 to 1,079 square feet. Amenities include a pool with a sundeck, fitness center, business center, laundry facilities, tenant lounge, onsite maintenance and package services.

July 11, 2024

Acquisitions North Carolina Seniors Housing Southeast

Blueprint Brokers Sale of 143-Unit Seniors Housing Community in Raleigh

by John Nelson July 8, 2024

RALEIGH, N.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 143-unit independent living community in Raleigh. Opened in 2019, the seniors housing property features a variety of unit types. The seller was an unnamed national developer/investor. Focus Healthcare Partners and Solera Senior Living acquired the asset for an undisclosed price. Alex Florea and Kyle Hallion of Blueprint arranged the transaction.

July 8, 2024

Development Mixed-Use Multifamily North Carolina Southeast

Vista Residential Breaks Ground on 277-Unit Mixed-Use Apartment Community in Holly Springs, North Carolina

by John Nelson July 3, 2024

HOLLY SPRINGS, N.C. — Vista Residential Partners has broken ground on Main Street Vista, a 277-unit mixed-use apartment community in Holly Springs, a southwest suburb of Raleigh. The 11.7-acre development site is located at the corner of North Main Street and Holly Springs Road. Main Street Vista will feature a mix of one-, two- and three-bedroom apartments averaging almost 1,050 square feet, as well as 19,000 square feet of retail space and 11,000 square feet of live-work space. Select apartments will have a ground-floor office space available for lease to prospective tenants who desire to work from home. Designed by Niles Bolton, Main Street Vista will feature a clubhouse, resort-style swimming pool, fitness center, central green area, pet park and 24/7 package concierge services. Dome Equities and two Ohio-based life insurance companies provided financing for the project. The construction timeline was not disclosed.

July 3, 2024

Acquisitions North Carolina Retail Southeast

Octave Holdings Acquires 269,253 SF Belgate Shopping Center in Charlotte’s University District

by John Nelson July 3, 2024

CHARLOTTE, N.C. — Octave Holdings and Investments LLC has purchased Belgate Shopping Center, a 269,253-square-foot power retail center in Charlotte’s University district. The Alpharetta, Ga.-based buyer’s investment fund, Octave Realty Fund IX LLC, acquired the center for an undisclosed price. The seller was also not disclosed. Located at the intersection of North Tryon Street and University City Boulevard, Belgate Shopping Center is situated within one mile of University of North Carolina – Charlotte, as well as near North Carolina’s only IKEA store. The property was fully leased at the time of sale to tenants including Hobby Lobby, T.J. Maxx, Burlington, Marshalls, PetSmart, Old Navy, Shoe Carnival and Ulta Beauty. Shadow anchors of the center include Topgolf and Walmart Supercenter. Octave’s in-house property management company, Pinnacle Leasing and Management, will operate Belgate Shopping Center.

July 3, 2024

Development Loans Multifamily North Carolina Southeast

IPA Capital Markets Arranges $30.5M Construction Financing for Apartment Development in Greensboro, North Carolina

by John Nelson July 2, 2024

GREENSBORO, N.C. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $30.5 million in construction financing for Brooks North Apartments, a 340-unit multifamily development located at 4005 N. Church St. in Greensboro. Frank Montalto of IPA Capital Markets’ Chicago office arranged the financing with a regional lender on behalf of the borrower, a local development company. The ground-up development will feature three- and four-story garden-style buildings with an amenity package that includes a fitness center, pool, cabana clubhouse and a bark park. Brooks North will be delivered in phases, with Phase I (244 units) set to open next summer.

July 2, 2024

Leasing Activity North Carolina Office Southeast

Accesso Executes 30,000 SF of Office Leases at Weston I in Metro Raleigh

by John Nelson June 28, 2024

CARY, N.C. — Accesso has executed 30,000 square feet of leases at Weston I, a two-building office property located at 1001 Winstead Drive in Cary, a suburb of Raleigh. The deals include 12,000 square feet in new leases and 18,000 square feet in renewals. New tenants include K&A Engineering, a global engineering consultancy, and Contiem Inc., an international content management company. Hall & Burns Wealth Management LLC and Western & Southern Life Insurance Co. are two of the tenants that have renewed at Weston I. Brian Carr and Brad Corsmeier of CBRE represented Accesso in the lease transactions. Accesso cites the property’s recently renovated lobby, fitness center and tenant lounge as helping drive the recent leasing activity.

June 28, 2024

Development North Carolina Retail Southeast

Branch, Columbia Acquire Development Site in Fayetteville, North Carolina for Publix-Anchored Shopping Center

by John Nelson June 25, 2024

FAYETTEVILLE, N.C. — Branch Properties and Columbia Properties have purchased a 16.7-acre development site in Fayetteville, a city in south-central North Carolina. The Atlanta-based developers plan to break ground on Rockfish Village, a grocery-anchored shopping center that will span 76,237 square feet, including a 48,387-square-foot Publix store. Situated at the signalized intersection of Rockfish and King roads, the property will also feature 27,850 square feet of inline retail space and 2.4 acres of outparcels. Branch and Columbia plan to break ground on the development early next year and deliver the center by the end of 2025. In addition to Kingfish Village, Branch is underway on five other Publix-anchored shopping centers across the Southeast, including One Nexton in the Charleston suburb of Summerville, S.C.

June 25, 2024

Newer Posts

Older Posts