North Carolina

CBRE Negotiates Sale of INQ @ 2401 Office Building in Charlotte

by Abby Cox August 21, 2025

CHARLOTTE, N.C — CBRE has negotiated the sale of INQ @ 2401, a 162,372-square-foot office building located in the Crown Point neighborhood of Charlotte. Patrick Gildea, Matt Smith, Joe Franco and Stephanie Spivey of CBRE represented the sellers, DRA Advisors and Mainstreet Capital, in the transaction. Messer Financial, a long-term tenant that brought the property to full occupancy, was the buyer. The sales price was not released. Originally constructed in 1989 and renovated in 2016 with nearly a $6 million investment, the single-story building can now accommodate larger, back-office users and features 25-foot vaulted ceilings and direct tenant access.

August 21, 2025

Acquisitions Mixed-Use Multifamily North Carolina Retail Southeast Walker & Dunlop

Lone Star Sells Mixed-Use Lofts at Reynolds Village in Asheville, North Carolina

by John Nelson August 20, 2025

ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.

August 20, 2025

Acquisitions North Carolina Retail Southeast

Marcus & Millichap Brokers $5.1M Sale of Retail Property in Kernersville, North Carolina Leased to Firestone

by John Nelson August 20, 2025

built retail property located at 1186 S. Main St. in Kernersville, about 20 miles west of Greensboro, N.C. Automotive services firm Firestone, a subsidiary of Bridgestone Retail Operations LLC, fully occupies the 5,798-square-foot property on a 15-year absolute triple-net lease. Don McMinn of Marcus & Millichap’s Atlanta office represented the seller, a North Carolina-based developer, in the transaction. The buyer was also not disclosed. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina for the deal. “The Firestone closing demonstrates the growing wave of private capital flowing into the net-lease market, fueled by the passage of the ‘Big Beautiful Bill,’ improving confidence and the prospect of interest rate cuts,” says McMinn. “We expect this momentum to carry into the second half of 2025, driven by lower interest rates, increased 1031 exchange activity and stronger deal flow.”

August 20, 2025

Leasing Activity North Carolina Office Southeast

First Horizon Signs Lease to Occupy Three Floors at 110 East Office Building in Charlotte’s South End

by Abby Cox August 18, 2025

CHARLOTTE, N.C. — Regional financial services company First Horizon Corp. has signed a lease at 110 East, a 370,000-square-foot office tower located in the South End neighborhood of Charlotte. Rhea Greene, Jennifer Kurz and John Hannon of Trinity Partners represented the landlord, a joint venture between Shorenstein and Stiles, in the lease negotiations. Bradley Rice of Fischer CRE represented the tenant along with internal representatives Tina Fullard and Joanna Britt of First Horizon. In the first half of 2026, First Horizon will relocate to 110 East, consolidating two of its current regional offices. As the anchor tenant, the firm will occupy 88,167 square feet across the top three floors of the building, bringing the tower to 70 percent occupancy. Other tenants include Coinbase, SPAR Media and SouthState Bank. 110 East was delivered in March 2024 and marks the tower’s first phase of a broader redevelopment plan to transform Charlotte’s South and East Boulevard into a walkable destination for office, retail and dining.

August 18, 2025

Acquisitions North Carolina Retail South Carolina Southeast

IPA Arranges Portfolio Sale of Five Food Lion-Anchored Shopping Centers in the Carolinas

by John Nelson August 13, 2025

RALEIGH, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a five-property portfolio of Food Lion-anchored shopping centers in the Carolinas. The assets span 248,030 square feet and include College Lakes Plaza in Fayetteville, N.C.; Eden Centre in Eden, N.C.; Kimberly Park in Carthage, N.C.; Kris Krossing in Conway, S.C.; and West Pointe Village Asheboro, N.C. Raleigh-based Genesis Properties purchased the portfolio from Richmond-based Capital Square for an undisclosed price. Dean Zang and David Crotts of IPA, along with Zach Taylor of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Ben Yelm and Donald Gilchrist served as Marcus & Millichap’s brokers of record in South Carolina and North Carolina, respectively, in the deal.

August 13, 2025

Acquisitions Industrial North Carolina Southeast

APG Buys 80,000 SF Infill Distribution Building in Charlotte

by Abby Cox August 8, 2025

CHARLOTTE, N.C. — Atlanta Property Group (APG) has purchased 5416 Wyoming Ave., an 80,000-square-foot infill distribution building in Charlotte. Situated in the Westinghouse industrial submarket, the facility was originally constructed in 1998 and features 18 to 21-foot clear heights, a 150-foot truck court, dock-high doors, full-building HVAC and heavy power. The facility was fully leased at the time of sale and marks APG’s second industrial acquisition in Charlotte. APG plans to invest $150 million of committed funds into existing distribution properties in the Atlanta, Charlotte, Greenville, Savannah, Nashville, Raleigh and Central Florida markets by the end of 2025.

August 8, 2025

Development Industrial North Carolina Southeast

Trinity Capital, Crow Holdings to Develop 171,920 SF Industrial Facility in Charlotte

by John Nelson August 5, 2025

CHARLOTTE, N.C. — A joint venture between Trinity Capital and a real estate fund advised by Crow Holdings plans to develop Graham Park CLT, a 171,920-square-foot speculative industrial facility located on a 17.3-acre site at 2241 Graham Park Drive in Charlotte. Tom Tropeano, Chris Loyd and Gray Gaines of Avison Young represented the seller, an entity doing business as Graham Park Ventures LLC, in the $6.2 million land sale to the development team. United Bank is providing an undisclosed amount of construction financing. Edifice Construction is the general contractor for Graham Park CLT, which is expected to break ground in the third quarter and wrap up construction in third-quarter 2026. The development will include concrete tilt-wall construction, 32-foot clear heights, ESFR sprinklers, dock-high and grade-level loading doors and a two-acre dedicated industrial outdoor storage area. Trinity Capital and Crow Holdings have selected Avison Young’s Tropeano, Gaines and Henry Lobb to handle the leasing assignment at Graham Park CLT.

August 5, 2025

Development Multifamily North Carolina Southeast

Turnbridge Equities to Break Ground on $200M Highline Glenwood Apartment Tower in Downtown Raleigh

by John Nelson July 30, 2025

RALEIGH, N.C. — Turnbridge Equities plans to break ground on Highline Glenwood, a $200 million apartment high-rise development located at the site of the former Pine State Creamery in downtown Raleigh. The 37-story tower will house 306 luxury studio, one-, two- and three-bedroom apartments, as well as an indoor/outdoor sky lounge on the 37th level and an outdoor amenity terrace on the ninth floor that will include a pool, padel court, lawn, grills and lounge areas. Other amenities include a demonstration kitchen, coworking suite with conference and videoconference rooms, golf simulator, fitness center and a wellness suite with a cold plunge and sauna. Highline Glenwood will also include 7,500 square feet of ground-level retail space and 50,000 square feet of adaptive reuse commercial space in the historic Pine State Creamery building, which will be preserved and house the 300-person hub offices of BuildOps. The site includes developable land for another 300 apartments or 300,000 square feet of commercial space. Capital sources for the Highline Glenwood development include equity from Turnbridge and $147 million in debt from Axos Bank and accounts managed by Manulife Investment Management Real Estate. Sitework is underway, with project delivery expected in mid-2028. The design-build team includes …

July 30, 2025

Development Leasing Activity Mixed-Use Multifamily North Carolina Restaurant Retail Southeast

Ardent Closes on Land Acquisition for Westside Bottling Project in Durham, Signs Leases With Sprouts and Shake Shack

by John Nelson July 29, 2025

DURHAM, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which at full build-out will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an existing bank branch on the site, will continue to operate at Westside Bottling. The development sits three miles west of downtown Durham and north of Duke University and Duke University Medical Center.

July 29, 2025

Development Hospitality North Carolina Southeast

TMGOC Ventures Delivers 208-Room Moxy Hotel in Uptown Charlotte

by Abby Cox July 28, 2025

CHARLOTTE, N.C. — TMGOC Ventures has delivered the Moxy Charlotte Uptown Hotel, a 208-room boutique hotel located in Uptown Charlotte. The hotel was delivered in collaboration with general contractor BL Harbert International, ODA Architecture and interior designer DLR Group. This hotel marks TMGOC Ventures’ second ground-up Moxy project, as well as its 18th operating hotel in its national portfolio. Lexima Lodging manages the property, which features a 24-hour fitness center, valet parking, a ground-floor Starbucks Coffee shop and nearly 7,000 square feet of flexible event space with indoor-outdoor connectivity and skyline views. Additional communal spaces at the hotel include the Bar Moxy, a rooftop lounge, and various breakout rooms. Moxy is a boutique hotel brand that Marriott International launched in partnership with IKEA.

July 28, 2025

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