DURHAM, N.C. — NorthMarq Capital has arranged the $7.3 million refinancing of Hope Valley Commons, a 38,963-square-foot retail property located at 1125 W. NC Highway 54 in Durham. NorthMarq arranged the 15-year loan with a 25-year amortization schedule through an unnamed life insurance company.
MORRISVILLE, N.C. — JLL has arranged INC Research Holdings Inc.’s office lease at Perimeter Five, a Class A office building under construction at 3032 Carrington Mill Blvd. in Morrisville, about 13 miles west of Raleigh. The global contract research firm leased the entire 215,450-square-foot building, which will be situated within the 3 million-square-foot Perimeter Park master-planned office development. The office building will feature lake views, green space, a café serving Starbucks Coffee and a fitness center. Erika Jean McNeil, Paul Glickman, Matthew Astrachan and Michael Morgan of JLL represented INC Research in the 12-year lease deal. William Allen of Trinity Partners represented the landlord. The office building will break ground in March for an expected delivery in July 2018.
RALEIGH, N.C. — Singh Development, a multifamily owner-operator with communities in Michigan and North Carolina, has unveiled renderings of the interior of Waltonwood Lake Boone, a 183-unit independent living, assisted living and memory care community in Raleigh. Development costs for the 285,000-square-foot project are estimated at $50 million, and Singh Development expects the facility to create more than 125 jobs and serve more than 200 residents. The property is situated on six acres, and will feature 121 independent living units, 39 assisted living units and 23 memory care units. Waltonwood Lake Boone is Singh’s second seniors housing project in the Raleigh area and is scheduled to open in the first quarter of 2018. As of this month, the construction crews are completing framing in the assisted living area, and framing is completed in the independent living portion of the facility.
CHARLOTTE, N.C. — Bank of America has renewed its 194,000-square-foot office lease at 525 North Tryon, a 19-story office building in Uptown Charlotte. Charles Jonas and Meredith Ball of Foundry Commercial represented the building’s owners, Grubb Properties and New York Life, in the lease deal. JLL represented Bank of America, according to Charlotte Business Journal. Grubb Properties and New York Life have enhanced existing amenities at 525 North Tryon and added new ones, including a fitness center known as Club 525, bike storage room, free electric car shuttle, conferencing center and an electric car charging station. The owners are also in the final stages of securing LEED Silver certification at the building, which has already earned the EPA’s Energy Star designation.
CHARLOTTE, N.C. — Pollack Shores Real Estate Group plans to develop a 350-unit apartment community at 327 and 349 Tremont Ave. in Charlotte’s South End district. Design is currently underway on the project, which is located within walking distance of Atherton Mill. The residential units will feature stone countertops and stainless steel appliances, and the community amenities will include a pool courtyard, clubroom, sky lounge, two courtyards with outdoor kitchen amenities and a dog park. The community will also feature 2,500 square feet of street-level retail space and “Live Work Units” fronting Tremont Avenue. Pollack Shores expects to deliver the unnamed project in late 2018.
CHARLOTTE, N.C. — Trinity Capital Advisors has purchased 1001 Bond St., a two-building industrial property totaling 404,351 square feet in Charlotte’s Northwest industrial submarket. Trinity Capital acquired the property in a joint venture with SilverCap Partners for an undisclosed price. Both buildings are fully leased to Camber Ridge, a tire characterization research and development company. The properties are situated off of I-85 and feature direct access to I-485, I-77 and Charlotte Douglas International Airport via NC Highway 16.
CHARLOTTE, N.C. — Reger Holdings has purchased a 222,596-square-foot industrial building located at 1000 Exchange St. in Charlotte. The western New York-based investment firm plans to convert the freezer/cooler building into a dry warehouse property. The building is rail-served by CSX and features outdoor storage capabilities. Rob Speir and Don Moss of Colliers International’s Charlotte office brokered the transaction and will be retained as the property’s leasing agents. Reger Holdings owns more than 4 million square feet of industrial real estate space in the Carolinas. The sale price and seller were not released.
CHARLOTTE, N.C. — Beacon Partners has unveiled its plans for a 3.5-acre block, situated at South Tryon and Bland streets in Charlotte’s South End, that the firm is currently redeveloping. The new development will feature two eight-story buildings spanning 320,000 square feet. Named the RailYard, the project will feature office space, 30,000 square feet of retail and restaurants and 100 residential units. The site sits one block from the LYNX Bland Street Station and at the head of the Rail Trail, a 3.5-mile trail along the LYNX Blue Line. The RailYard’s buildings will feature a brick exterior, masonry, ornamental steel and glass, double-door arched entryways and open floor plates offering views of Uptown and South End. The development will include a one-acre rooftop park and an outdoor courtyard between the two buildings. The design team includes RBA Group and David Furman of Centro Cityworks. Kristy Venning and Charlie Swanson of Beacon Partners are handling the leasing. Construction on RailYard is scheduled to begin this summer.
RALEIGH, N.C. — CBRE | Raleigh has arranged the $20.3 million sale of Marketplace at Lake Boone, a mixed-use property located at the intersection of Lake Boone Trail and Gateway Access Point in Raleigh. Griffin Partners purchased the property from Singerman Real Estate. Marketplace at Lake Boone features 76,253 square feet of street-level retail space and second-story office space. According to Griffin Partners, the property was fully leased at the time of sale to tenants such as Ashton Woods, AT Allen Co., Sirius Computer Solutions, Greystone, Saracare, Buffalo Brothers, Guasaca, Bottle Revolution, Traditions Bridal and The Oaks. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh represented Singerman Real Estate in the transaction.
CARY, N.C. — The Dilweg Cos. has purchased Regency Lakeview, a two-building, 376,131-square-foot office complex in Cary, a suburb of Raleigh. Boston-based Intercontinental Real Estate Corp. sold the property to Durham, N.C.-based Dilweg for $61 million. The two five-story, Class A buildings were built in 1985 and 1998 and were fully leased at the time of sale to tenants such as Dude Solutions, HCL, Global Knowledge and Black & Veatch. Dilweg plans to invest roughly $4 million to upgrade Regency Lakeview’s operating systems, parking, common areas and tenant amenities. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh, along with Patrick Gildea, Matt Smith and Leslie Wooten of CBRE Inc., represented Intercontinental in the transaction.
