North Carolina

CBL, Vision Hospitality Open Element by Westin Hotel at Mayfaire Town Center in Wilmington, North Carolina

by John Nelson September 9, 2025

WILMINGTON, N.C. — CBL Properties, in a 49/51 joint venture with Vision Hospitality, has opened a new Element by Westin hotel at Mayfaire Town Center, a 610,000-square-foot, open-air shopping mall in Wilmington. Both CBL and Vision are headquartered in Chattanooga, Tenn. The 139-room hotel is situated on International Drive and includes a lobby bar, 24/7 fitness center and complimentary bicycle rentals. Since 2024, CBL has executed retail leases exceeding 100,000 square feet at Mayfaire, including deals with Dave & Busters, Altar’d State Kids, Rowan, Free People, FP Movement, Warby Parker, Claire’s, Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop and Dry Bar. Additionally, existing tenants like lululemon athletica, Rack Room Shoes and Reed’s Jewelers have remodeled and expanded their stores at Mayfaire. CBL purchased the mall in 2015.

September 9, 2025

Leasing Activity North Carolina Office Southeast

CBRE Arranges 14 Office Leases at The Grove in West Raleigh Totaling 75,541 SF

by Abby Cox September 5, 2025

RALEIGH, N.C. — CBRE has arranged 14 office leases totaling 75,541 square feet at The Grove, an office redevelopment project located in west Raleigh. Ed Pulliam and John Brewer of CBRE represented the landlord, Chartwell Property Group, in the lease negotiations. The recently signed leases bring the development’s occupancy to 90 percent, comprising nearly $25 million in combined value. The new tenants include Johnnie-O, Christina Valkanoff LLC, Hedrick Gardner Kincheloe & Garofalo LLP, Carr, Riggs & Ingram, Martin Marietta, Elder Research Inc., North Carolina Association of CPAs, W. M. Jordan Co. Inc., The Providence Group, JacobsWyper Architects, Proyco and Ark Royal Wealth Management LLC. Situated on 11.5 acres, The Grove’s office campus offers 29,000 square feet of indoor/outdoor amenity space, featuring a self-serve café and bar, library, lounge, golf simulator, conference rooms and workspaces, as well as a fitness center that includes CrossFit stations, an indoor pickleball court, sauna and massage room.

September 5, 2025

Development Multifamily North Carolina Southeast

Alliance Residential Opens 332-Unit Broadstone West End Apartments in Charlotte

by John Nelson September 2, 2025

CHARLOTTE, N.C. — Alliance Residential has opened Broadstone West End, a 332-unit apartment community located at 2220 Wilkinson Blvd. in Charlotte’s FreeMoreWest neighborhood. The property includes studio, one and two-bedroom floorplans, with monthly rental rates starting at $1,359. Amenities include a saltwater pool, fitness center, outdoor grilling station with a Big Green Egg and pizza oven, two firepits with lounge seating and a resident clubroom. Other amenities include a speakeasy-inspired poker room that is hidden behind a cabinet door entrance, as well as indoor bike storage, a fenced dog park, EV charging stations, smart package lockers, package room with cold storage and gated parking. The design-build team includes McAdams Co. (civil engineer), Cline Design (architect) and MAD Studio Interiors (interior designer). Attractions within a mile of Broadstone West End include Legion Brewing and Pinky’s Westside Grill.

September 2, 2025

Acquisitions Multifamily North Carolina Southeast

Northmarq Negotiates $82M Sale of Alexan Mill District Apartment Community in Charlotte

by Abby Cox August 29, 2025

CHARLOTTE, N.C. — Northmarq has negotiated the $82 million sale of Alexan Mill District, a 290-unit apartment community located at 1001 N. Brevard St. in Charlotte. Allan Lynch, Caylor Mark, Andrea Howard, John Currin, Jeff Glenn and Austin Jackson of Northmarq’s Multifamily Investment Sales team represented the seller, Trammell Crow Residential, in the transaction. The Seminole Tribe of Florida purchased the property through its sovereign wealth real estate investment fund (SemREF). Built in 2024, Alexan Mill offers studio, one- and two-bedroom floorplans. Amenities at the complex include a clubhouse, an indoor/outdoor speakeasy supper club with a catering kitchen, rooftop lounge with views of Uptown Charlotte, saltwater swimming pool with a sun ledge and outdoor fireplace, as well as a TV streaming lounge. The community also features billiards and game tables, a tech lounge, media studio, work-from-home café, outdoor courtyard, 24-hour fitness center, 24-hour access package room and a covered parking deck.

August 29, 2025

Acquisitions North Carolina Office Southeast

CBRE Negotiates $70M Sale of 27-Story Office Tower in Uptown Charlotte

by John Nelson August 28, 2025

CHARLOTTE, N.C. — CBRE has negotiated the $70 million sale of Charlotte Plaza, a 27-story office tower located at 201 S. College St. in Uptown Charlotte. Morning Calm Management and Praelium Commercial Real Estate purchased the 643,638-square-foot office building from an entity doing business as South College Street LLC. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. Built in 1982, Charlotte Plaza was 32 percent leased at the time of sale. The property features modern common areas, 13-foot ceiling heights, proximity to a Lynx Blue Line station, direct access to the Overstreet Mall, onsite structured parking and retail space anchored by STK Steakhouse.

August 28, 2025

Acquisitions Mixed-Use North Carolina Retail Southeast

CBRE Arranges $110M Sale of 14-Level Parking Facility in Uptown Charlotte

by John Nelson August 27, 2025

CHARLOTTE, N.C. — CBRE has arranged the $110 million sale of SEVEN20 at Legacy Union, a 14-level parking facility located at 720 S. Church St. in Uptown Charlotte. Lincoln Harris sold the 1.1 million-square-foot property to Highwoods Properties. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. Built in 2019 as part of the 10.2-acre Legacy Union mixed-use development, SEVEN20 at Legacy Union is the largest parking facility in the Carolinas, according to CBRE. The facility features a double-helix structure, two elevator towers, 3,057 parking stalls, 14,360 square feet of ground-level retail space and a pedestrian bridge on the fifth level that connects to Bank of America tower. The property is also equipped to accommodate guest parking for Carolinas Panthers games and other events taking place at the nearby Bank of America Stadium.

August 27, 2025

Acquisitions North Carolina Office Southeast

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

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