CHARLOTTE, N.C. — Northwood has debuted Oro Ballantyne, a 316-unit luxury residential tower situated within The Bowl at Ballantyne mixed-use development in south Charlotte. Oro Ballantyne spans 26 floors with studio to three-bedroom apartment options, as well as townhome and penthouse layouts. Apartments range in size from 616 to 2,109 square feet. Monthly rental rates begin at $1,570. Amenities include the top-floor sky lounge, a hidden speakeasy called The Rhapsody Room, a golf and gaming simulator, resort-style swimming pool with cabanas, outdoor entertainment areas and coworking spaces. Northwood Office, in partnership with StreetLights Residential, developed the property. SK+I Architecture led the building’s design, while Samet Corp. served as the general contractor.
Southeast
BRADENTON, FLA. — Thompson Thrift has recently hosted a ribbon cutting ceremony for The Stadler, a 279-unit luxury apartment complex located at 7120 Henry Drive in Bradenton. The Stadler offers one-, two- and three-bedroom apartments up to 1,445 square feet in size. Monthly rental rates range from $1,490 to $3,125, according to Apartments.com. Community amenities include a 24-hour fitness center, pickleball court, dog park with pet spa and grooming station, a covered sky deck and a lazy river-style swimming pool. The Stadler is situated on the southern border of the Lake Flores master-planned community, a mixed-use development that will encompass nearly 1,300 acres and feature 6,500 homes, 2 million square feet of retail, 1 million square feet of office space, 500 hotel rooms and a 19-acre man-made lake, upon completion.
Brennan Investment Underway on 100,800 SF Build-to-Suit Industrial Facility in Hopkinsville, Kentucky
by Abby Cox
HOPKINSVILLE, KY. — Brennan Investment Group is underway on the development of a 100,800-square-foot build-to-suit industrial facility in Hopkinsville. Upon completion, the facility will act as a food processing plant for Kitchen Food Co., an Australian-based company that manufactures and distributes ready-to-go products like sandwiches, wraps and meals. Byline Bank provided an undisclosed amount of construction financing for the project. Brennan, Kitchen Food Co. and federal/private student loan servicer Nelnet Inc. formed a partnership to own the facility, as well as provide equity for the project. Food Plant Engineering is leading construction for the project. The facility is expected to be fully operational in 2026.
Cushman & Wakefield | Thalhimer Negotiates $13.5M Sale of Industrial Facility in Virginia Beach
by Abby Cox
VIRGINIA BEACH, VA. — Cushman & Wakefield | Thalhimer has negotiated the sale of 524 Viking Drive, a 150,640-square-foot industrial facility located in Virginia Beach. Selko Real Estate Ventures LLC purchased the property from Hermes Abrasives for $13.5 million. Geoff Poston and Brett Sain of Thalhimer represented the buyer in the transaction.
BALTIMORE — Hodges Ward Elliott (HWE) has arranged the sale of the Residence Inn by Marriott Baltimore White Marsh, a 131-room hotel property located within the White Marsh Town Center master-planned community in Baltimore. The hotel spans four floors and features a mix of amenities including a fitness center, outdoor swimming pool, sports court, meeting room and complimentary breakfast. Clint Hodges and Nate Ries of HWE represented the seller, an affiliate of American Hotel Income Properties REIT LP, in the transaction. The buyer and purchase price were not disclosed.
CHARLOTTE, N.C. — Scout Motors has selected Charlotte as its new U.S. corporate headquarters. The car manufacturer and subsidiary of German automaker Volkswagen plans to invest about $206 million within the local economy and to bring about 1,200 new jobs to the trade area. Scout Motors plans to fill these jobs over the next five years and will pay average annual wages of $172,000, which the company says is nearly double the average annual wage in Mecklenburg County. Scout Motors will locate its headquarters within Commonwealth, a mixed-use development in Charlotte’s Plaza Midwood neighborhood that is co-developed by Crosland Southeast and Nuveen Real Estate. The announcement builds on previous U.S. real estate activity by Scout Motors. The company is currently under construction on a 1,100-acre car manufacturing facility roughly 75 miles south of Charlotte in Blythewood, S.C., a project that is expected to be operational by 2027. The company also operates an “innovation center” in Novi, Mich. According to The Center Square, a watchdog publication that covers activities of state and local governments, Scout Motors received roughly $72 million in economic incentives for the deal. These included about $51.3 million from the State of North Carolina, $12.8 million from Mecklenburg …
SALISBURY, N.C. — Food Lion is investing $484 million to enhance the customer shopping experience with 153 remodeled stores. The stores were unveiled on Nov. 5 throughout the greater Charlotte market. Founded in Salisbury in 1957, Food Lion operates more than 1,100 stores throughout 10 Southeastern and Mid-Atlantic states. Additionally, Ahold Delhaize USA, the parent company of Food Lion as well as Giant Food and Stop & Shop, recently announced it is investing $860 million for its new East Coast distribution hub in Burlington, N.C.
City of Memphis Acquires 600-Room Sheraton Memphis Downtown Hotel, Plans Redevelopment
by John Nelson
MEMPHIS, TENN. — The City of Memphis has acquired the Sheraton Memphis Downtown, a 600-room hotel located at 250 N. Main St. in downtown Memphis. The seller, an undisclosed institutional hotel investment firm, and the sales price were not disclosed, though local media outlets are reporting the asset traded for $22 million. Spencer Davidson and Tim Osborne of Hunter Hotel Advisors brokered the transaction. The city is partnering with Carlisle Development Group to overhaul and rebrand the property as Marriott Hotel Downtown Memphis. The hotel currently features 18,131 square feet of onsite meeting space, an indoor pool, fitness center and direct access via an enclosed skywalk to the 300,000-square-foot Renasant Convention Center, which recently underwent a $200 million modernization. Specific plans and construction timelines for the hotel redevelopment project were not released.
CHARLOTTE, N.C. — Swinerton, working on behalf of developer Space Craft, has topped out Cordo, a $111 million multifamily development located at 512 E. 21st St. in Charlotte’s Optimist Park neighborhood. The development, the fifth between Swinerton and Space Craft, will feature 287 studio, one-, two-, three- and four-bedroom units, as well as a rooftop terrace, resident lounge/game room with a full kitchen, meeting and coworking spaces, outdoor courtyard and fitness and wellness areas. Designed by Charlotte-based architecture firm Shook Kelley, the project will feature cross-laminated timber (CLT) decks, which will create exposed timber ceilings. Timberlab, sister company of Swinerton, prefabricated approximately 50,000 linear feet of wood wall framing and 185,000 square feet of CLT using pine, spruce and fir in its Greenville, S.C., facility for the development. The project team broke ground on Cordo last fall and expects to deliver the community by summer 2027.
WILLIAMSTON, S.C. — Farpoint has executed a new 10-year lease with BMarko Structures, a manufacturer of modular buildings, at 134 Long Road in Williamston. Farpoint recently delivered the 560,240-square-foot facility in Anderson County, a submarket in the Upstate South Carolina region. BMarko’s new corporate headquarters is expected to create 225 full-time jobs and tap into the skilled workforce and advanced manufacturing presence in the I-85 corridor, according to Farpoint. BMarko’s past projects include the popular Bal Harbour Shops pop-up in Miami, as well as prefabricated data centers.
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