CHARLOTTE, N.C — Ziff Real Estate Partners (ZRP) has acquired Camfield Corners, a 70,000-square-foot neighborhood retail center in south Charlotte, for $11.2 million. Simpson Commercial Real Estate’s Wells Herndon and Wesley Fricks represented the undisclosed seller in the transaction. Christian Chamblee, Jack Jardina and Kayla Hamilton were the internal representatives for ZRP. Camfield Corners spans 9.7 acres and includes tenants like Planet Fitness and Goodwill. ZRP owns three retail assets near the recent purchase, including Carolina Crossing, Matthews Festival and Turnberrry Place.
HUNTERSVILLE, N.C. — MDH Partners has delivered Phase II of Northcross Commerce Center, an industrial park in the Charlotte suburb of Huntersville. Located along Jamesburg Drive near I-77, the second phase comprises two Class A facilities totaling 254,000 square feet. Brad Cherry, Matt Greer and Natalie Ceva of JLL are leasing and marketing the new facilities on behalf of MDH Partners. Phase II brings Northcross Commerce Center’s total footprint to nearly 700,000 square feet.
CHARLOTTE, N.C. — CBRE has arranged three office loans totaling 87,266 square feet at First Citizens Bank Plaza, a 23-story office tower located at 128 S. Tryon St. in Uptown Charlotte. Kris Westmoreland, Stephanie Spivey and Joe Franco of CBRE represented the landlord, Dornin Investment Group, in the lease negotiations. The deals included a 20,897-square-foot lease with IT staffing firm Dexian, a 31,838-square-foot lease for an unnamed global IT services and consulting firm and a 34,531-square-foot lease with an unknown branch of the federal government. The U.S. General Services Administration (GSA) signed the third lease with Dornin on behalf of the end user. First Citizens Bank Plaza was recently renovated and features a new lobby, boutique fitness center, tenant amenity hub with lockers and showers, bicycle parking and storage, upgraded restrooms, new lobby and MOA Korean BBQ, a 5,000-square-foot restaurant and bar on the first floor.
CARY, N.C. — Hines and Columbia Development Group, in partnership with Affinius Capital, are announcing a nearly 19,000-square-foot wave of retail leases at Fenton, including The Salty Donut, which plans to open its newest location in 2025. Located in the Raleigh suburb of Cary, the 92-acre mixed-use development is located along Cary Towne Boulevard near I-40 and the Research Triangle Park. Other retailers and restaurants that have opened recently at Fenton, or will in 2025, include Brewery Bhavana, Kendra Scott, Vega Vitality, Crawford Brothers Steakhouse and Doc B’s. Full construction of the property will feature 2.5 million square feet of residential, retail, office and entertainment spaces, as well as a seven-story hotel announced earlier this year. The Salty Donut was founded as a pop-up in Miami in 2015 and has since grown to multiple locations in Florida and Texas, as well as restaurants in Charlotte, Denver, Nashville and metropolitan Washington, D.C.
GREENSBORO, N.C. — Berkadia has provided a $71.3 million Freddie Mac loan for the refinancing of Abbotswood at Irving Park, a senior living community located in Greensboro. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia Seniors Housing & Healthcare originated the financing on behalf of the borrower, KISCO Senior Living. Located at 3504 Flint St., Abbotswood at Irving Park offers cottages and independent living and assisted living units, as well as memory care suites.
NEW YORK CITY — Indus Realty Trust, an industrial owner-operator based in New York, has purchased the majority interest in a logistics portfolio in the Carolinas from Charlotte-based Childress Klein. The 4.3 million-square-foot logistics portfolio spans 21 properties. The transaction amount was not shared, but the Indus Realty Trust investment puts the value of the portfolio at $575 million. Childress Klein will retain a minority stake and continue to operate and lease the properties. Eastdil Secured represented Childress Klein in arranging the transaction. The Carolinas portfolio was 94 percent occupied at the time of the recapitalization. Sixteen of the porftolio’s buildings are located in the metro Charlotte region and five buildings are in the greater Charleston market. The portfolio features a mix of last-mile and bulk facilities that average 205,000 square feet in size and 13 years in age.
WILMINGTON, N.C. — JLL has arranged the sale of Pier 33, a 286-unit apartment community located at 901 Nutt St. in downtown Wilmington. Middle Street Partners purchased the luxury community from Dewitt Carolinas Inc. for an undisclosed price. John Mikels, John Gavigan, Niki Dewberry and William Martin of JLL represented the seller in the transaction. Additionally, Ward Smith and Brad Woolard of JLL originated a Fannie Mae acquisition loan on behalf of Middle Street. Built in 2021, Pier 33 features 21,000 square feet of retail space, including concepts Bonita Latin Fusion, Megarounds and Nautical Bowls. The property also features studio, one-, two- and three-bedroom apartments, as well as a resort-style pool, pet spa, sky lounge, fitness center and coworking spaces.
CONCORD, N.C. — Avison Young has brokered the sale of a 402,390-square-foot distribution center located at 7040 Northwinds Drive NW in Concord, a suburb of Charlotte along I-85. E-commerce giant Amazon fully occupies the facility for use as a fulfillment center. Texas-based Stonelake Capital Partners purchased the property from SL Industrial Partners, a member of the Silverman Group family of companies. Chris Skibinski, Henry Lobb and Abby Rights of Avison Young brokered the transaction. The sales price was not disclosed, but the Charlotte Business Journal reports the property traded for approximately $51 million. Will Jenkins, Marc Hedrick and Jack Harvey led Stonelake Capital’s team in the transaction on an internal basis.
APEX, N.C. — Boston-based Rockpoint has sold Building I at Apex Commerce Center, a four-building industrial park totaling 845,000 square feet in Apex, a city roughly 15 miles southwest of Raleigh. LaSalle Investment Management purchased the 233,818-square-foot facility for an undisclosed price. Dave Andrews and Pete Pittroff of JLL represented Rockpoint in the transaction. Building I at Apex Commerce Center was built in 2023 and was fully leased at the time of sale. The rear-load facility features 32-foot clear heights, ESFR sprinklers and LED lighting. Building I is the first of four buildings at Apex Commerce Center, which Rockpoint developed in partnership with Oppidan Investment Co.
As someone who has closely observed retail trends in the Southeastern United States for decades, I’ve witnessed the inevitable ebb and flow of the industry. From periods of rapid expansion to challenging market corrections, and of course, global pandemics that disrupted every sector of real estate, it often feels as though I’ve ‘seen it all.’ Once again, I find myself watching the market adjust, particularly among big-box retailers, in high-growth areas like Raleigh. This ongoing shift signals both challenges and opportunities, reminding me of the resilience and adaptability required to thrive in this dynamic environment. When news broke in September that Big Lots Inc. had filed for Chapter 11 bankruptcy protection and that it would be closing more than 300 stores across the country, it wasn’t all that shocking, given the sheer number of Big Lots that one comes across just driving across their own towns. The Big Lots announcement follows similar moves by companies such as rue21, Express, The Body Shop, 99 Cents Only Stores, LL Flooring, Conn’s, and Red Lobster. Retailers like Rite Aid and Bed Bath & Beyond, which filed for bankruptcy last year, have closed hundreds of stores, causing vacancies in the retail real estate market. …
Newer Posts