Blue Heron Sells Indigo Apartments in Metro Raleigh for $121.9M

MORRISVILLE, N.C. — Blue Heron Asset Management has sold Indigo Apartments, a 489-unit multifamily community in Morrisville, for $121.9 million. The firm sold the asset to an undisclosed buyer via its third fund, Blue Heron Real Estate Opportunity Fund III. NorthMarq represented the seller in the transaction.Built in 2005 about eight miles south of Durham, Indigo Apartments offers one- and two-bedroom floorplans with features such as stainless steel appliances, full-size washers and …

October 27, 2021Acquisitions, Multifamily, North Carolina, Southeast

Franklin Street Arranges Sale of 31,721 SF Retail Property in Northwest Charlotte

CHARLOTTE, N.C. — Franklin Street has arranged the sale of Riverbend Village, a 31,721-square-foot retail property in northwest Charlotte. Bryan Belk and John Tennant of Franklin Street represented the sellers, Simpson Commercial and Landmark Development, in the transaction. CenterSquare Investment Management, a Philadelphia-based real estate investment manager, was the buyer. The sales price was not disclosed.Built in 2019, Riverbend Village features tenants including AT&T, Chicken …

October 27, 2021Acquisitions, North Carolina, Retail, Southeast

City of Charlotte, Visitors Authority Open $126.9M Charlotte Convention Center

CHARLOTTE, N.C. — The City of Charlotte and the Charlotte Regional Visitors Authority (CRVA) have opened the Charlotte Convention Center in Uptown Charlotte. The $126.9 million expansion project broke ground in December 2019 and added approximately 50,000 square feet of meeting room and pre-function space, taking the venue’s total leasable space to 600,000 square feet. The number of meeting rooms increased from 41 to 55 and now includes two 10,000-square-foot spaces.New to the …

October 25, 2021Development, Hospitality, North Carolina, Southeast

WDG to Develop 630,000 SF Industrial Park in Statesville, North Carolina

STATESVILLE, N.C. — Williams Development Group (WDG) plans to break ground on Statesville Commerce Center, a 630,000-square-foot speculative industrial park in Statesville. Grant Miller, Rob Speir and Justin Smith of Colliers | Charlotte have been hired by WDG to lease and market the property.Statesville Commerce Center will offer access to Interstates 77, 40 and 85 and will feature two Class A buildings with Building 1 set to include 370,136 square feet, 36-foot clear heights, 72 …

October 21, 2021Development, Industrial, North Carolina, Southeast

Avison Young Brokers $14.6M Sale of Industrial Building in Charlotte

CHARLOTTE, N.C. — Avison Young has brokered the sale of a 128,000-square-foot industrial building located at 2345 Township Road in Charlotte, about 9.9 miles from downtown Charlotte. The sales price was $14.6 million. The seller and buyer were not disclosed.The industrial building is fully leased by Magellan Aviation Group, a global supplier of aftermarket aircraft products and services. Built in 2000, this property features pre-cast panel construction, an ESFR sprinkler system and …

October 21, 2021Acquisitions, Industrial, North Carolina, Southeast

Lowes Foods Signs 52,000 SF Lease at Christenbury Village in Concord, North Carolina

CONCORD, N.C. — Winston-Salem-based Lowes Foods LLC has signed a lease to anchor Christenbury Village, a grocery-anchored mixed-use development in Concord. Christenbury Investors LLC, an entity affiliated with Charlotte-based MPV Properties LLC and Mission Properties LLC, is the developer.Christenbury Village is a 17-acre development located at the intersection of Cox Mill Road and Christenbury Parkway. The project is slated to include an approximately 52,000-square-foot Lowes Foods, two …

October 20, 2021Leasing Activity, North Carolina, Retail, Southeast

JLL Brokers $5M Land Sale for Multifamily Project in Cary, North Carolina

CARY, N.C. — JLL Capital Markets has brokered the $5 million sale for a 5.8-acre infill land parcel in Cary that is zoned for multifamily. SunCap Property Group acquired the land with plans to develop a 230-unit apartment community called Ashby at Twin Lakes at the site.The property will include one-, two- and three-bedroom residences, as well as a courtyard and pool, gas grills, indoor and outdoor fitness center, workout stations, dog park and spa, bike storage and secured …

October 20, 2021Acquisitions, Development, Multifamily, North Carolina, Southeast

JLL Income Property Trust Acquires Two Life Sciences Properties in Durham for $67M

DURHAM, N.C. — JLL Income Property Trust has acquired 5 & 47 National Way, two life sciences properties located in Durham. The sales price was approximately $67 million. The seller was not disclosed.Built in 2020, the properties total 375,000 square feet and are fully leased to life sciences tenants, such as KBI BioPharma and Taysha Gene Therapies. The tenants have invested a combined $180 million in property upgrades that include laboratory, clean and cold rooms, specialized …

October 14, 2021Acquisitions, North Carolina, Southeast

Joint Venture Breaks Ground on 261-Unit Multifamily Community in Charlotte’s South End

CHARLOTTE, N.C. — Developer RangeWater Real Estate and equity partner ParkProperty Capital have broken ground on The Raven at Tremont, a 261-unit multifamily community in Charlotte’s South End neighborhood. The first apartments are slated for completion by the spring of 2023.The Raven at Tremont will include one- and two-bedroom apartments. The property’s units will feature 9-foot ceilings, subway tiles, stainless steel appliances, granite countertops and Whirlpool washers and dryers. …

October 12, 2021Development, Multifamily, North Carolina, Southeast

Darrell Palasciano, Matt Henry Join Brokerage Team at Providence Group in Charlotte

CHARLOTTE, N.C. —The Carolinas leasing team of Darrell Palasciano and Matt Henry has joined The Providence Group’s landlord division.Palasciano and Henry combined have nearly three decades of experience as landlord advisors. Matt Henry started working in commercial real estate in 2014, and Darrell Palasciano has about 18 years of retail development and leasing experience. The two have $600 million in career transaction volume with a total of 3 million square feet. Most recently, the …

October 1, 2021Company News, North Carolina, Southeast