CHARLOTTE, N.C. — Dalfen Industrial and Investcorp have partnered to acquire the North Carolina Industrial Portfolio, a 10-property, 1.9 million-square-foot industrial portfolio spanning from Charlotte to Greensboro. The buildings were built between 2000 and 2013. Major tenants of the portfolio include Crate & Barrel, Lenovo Group Ltd., United Technologies Corp., Britax, Geodis and Henkel AG & Co. Further details of the transaction were not disclosed.
DURHAM, N.C. — Longfellow Real Estate Partners has purchased Swabia Court, a 112,340-square-foot office building within Research Triangle Park in Durham, for $12.2 million. Longfellow plans to renovate the property in first-quarter 2020 to add lab space and implement its amenities and hospitality program, Elevate, which includes amenities such as fitness centers, tailored lunch and learns, pop-up shops, gathering spaces and services such as salon, dental and dry cleaning. Swabia Court was built in 1987 and is situated at 1035 Swabia Court, 10 miles south of downtown Durham. Capital Square 1031 LLC was the seller.
CHARLOTTE, N.C. — Stiles and Shorenstein Properties LLC will develop a 23-story, 385,000-square-foot office tower in Charlotte’s South End neighborhood. The developers expect the building to also include 11,000 square feet of retail and restaurant space on the ground level. Construction is expected to begin in the next 12 months with potential to accommodate as much as 1 million square feet in future phases for larger users seeking an onsite location. According to Charlotte Business Journal, the two-acre parcel sold for $21.5 million and has two existing buildings on the site. The land is at the intersections of South Boulevard, East/West Boulevard and the East/West Boulevard Station in South End, two miles south of downtown Charlotte. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, Browder Harris Group, in the land transaction. Jessica Brown of Cushman & Wakefield is the leasing agent for the project.
CHARLOTTE, N.C. — OA Development has acquired Carmel Park I and II, two office buildings totaling 173,068 square feet in Charlotte, for $36.2 million. The two buildings were 93 percent leased at the time of sale to 45 tenants from the healthcare, real estate, financial services, engineering, insurance and technology industries. Carmel Park I and II are located at 11111 and 11121 Carmel Commons Blvd., 12 miles south of downtown Charlotte. Ryan Clutter, Chris Lingerfelt, Scot Humphrey and Zack Drozda of JLL represented the seller, CapRidge Partners LLC, in the transaction.
PINEVILLE, N.C. — Beacon Partners has delivered a 525,000-square-foot, build-to-suit warehouse in Pineville for Campbell Snacks, a division of Campbell Soup Co. The facility sits on 34 acres and marks the first completed building within Pineville Distribution Park, an industrial campus that sits 13 miles south of downtown Charlotte. The new warehouse features 36-foot clear heights, cross-dock loading, 180-foot truck courts and 120 trailer parking spaces. InterCon Building Corp. served as the general contractor, Merriman Schmitt Architects was the architect and Osborn Engineering Group was the civil engineer on the project. Mike Kemmet of Cushman & Wakefield represented Campbell Snacks in the transaction. Bailey Patrick and Bailey Patrick Jr. internally represented MPV Properties. MPV is also developing the remainder of Pineville Distribution Park.
PITTSBORO, N.C. — Eco Group, a joint venture between Kirk Bradley of Lee-Moore Capital Co. and John Fugo of Montgomery Carolina LLC, has broken ground on Mosaic, a $350 million mixed-use development spanning 136 acres and located 30 miles southwest of Raleigh-Durham. Phase I of Mosaic will include developing 44 acres at the cost of $180 million and is expected to be complete in 2023, although Eco Group plans to open Mosaic to the public in 2020. Town Hall Burger & Beer, People’s Coffee, Aveda Day Spa & Salon and UNC Urgent Care have all signed leases at Mosaic. At full build-out, the development will feature 200,000 square feet of local and regional retail space, restaurants and services including a micro-brewery and chef-driven and fast casual dining; a 114-key flagship hotel; 164 apartment units; 88,000 square feet of technical and creative office space; 10,000 square feet of educational space; 30,000 square feet of recreational and civic amenities featuring an eight-screen cinema, 350-seat live performance theatre, and 100-seat black box theatre and central green with outdoor stage. In addition, 25 percent of the project will be dedicated to open space framing the development with gathering spaces, walking and biking trail, ponds …
CHARLOTTE, N.C. — TerraCap Management LLC has bought Resource Square IV, a five-story, 152,000-square-foot office building in Charlotte, for $24.8 million. Resource Square office complex comprises five buildings totaling 337,611 square feet. TerraCap bought three of the buildings in August. The property is located near Interstates 85, 77 and 485, as well as Charlotte’s LYNX Light Rail Blue Line. The property offers a parking ratio of 4.5 per 1,000 square feet and features amenities such as a fitness center, conference room and an outdoor patio. Patrick Gildea of CBRE represented the seller, Rockford Capital Partners, in the transaction.
RALEIGH, N.C. — Cushman & Wakefield has arranged the $17.9 million sale of Carolina Corporate Centre, a 91,709-square-foot office building in Raleigh. The property was 98 percent leased at the time of sale to tenants including law firms, insurance providers, mortgage lenders and tech companies. The seller, The Simpson Organization, acquired the asset in 2016 when it was 80 percent leased and during its ownership upgraded the onsite amenities and common areas. The property is located at 5400 Glenwood Ave., seven miles northwest of downtown Raleigh. David Finger, Sara Owen and Samir Idris of Cushman & Wakefield represented Simpson in the transaction. Saltmeadow LLC and The Runnymede Corp. acquired the property.
RALEIGH, N.C. — First Washington Realty has acquired Harvest Plaza, a 99,479-square-foot retail center in Raleigh. The seller and sales price were not disclosed, although Triangle Business Journal reports Capital Partners and York Properties sold the property for $21 million. Walgreens and Planet Fitness anchor the retail center, which is located at 9650 Strickland Road, 10 miles north of downtown Raleigh.
CHARLOTTE, N.C. — Accesso Partners and Partners Group have acquired Innovation Park, a 1.8 million-square-foot office campus in Charlotte. The sales price was not disclosed, but Charlotte Business Journal reports the sales price was $270 million. Innovation Park spans 202 acres and comprises 12 buildings that were 99 percent leased at the time of sale to tenants including Allstate, AXA, Alight Solutions, Classic Graphics and Wells Fargo. The property is surrounded by Interstates 85, 485 and 77, and also has two stops along the Lynx Blue Line light rail. JLL represented both the seller and buyer in the transaction and arranged acquisition financing on behalf of the buyer. Brian Dawson represented the undisclosed seller, and Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda represented the buyers. Susan Hill arranged acquisition financing through an undisclosed lender.
