REBusinessOnline

Capstone Brokers $5.6M Sale of Multifamily Development Site in Leland, North Carolina

LELAND, N.C. — Capstone Land Sales has brokered the $5.8 million sale of a 22.5-acre multifamily development site in Leland. The buyer, Atlanta-based Hathaway Development, will break ground later this year at the site for Exchange at Westgate, a 312-unit luxury apartment community. Caleb Troop and Eric Liebich of Capstone Land Sales led the transaction. Exchange at Westgate will be part of the greater 550-acre Westgate community, which includes retail and dining, apartment communities, …

Brennan, Arch Street Capital Sell 2.3M SF Industrial Portfolio in Southeast U.S., Massachusetts

CHICAGO AND NEW YORK CITY — Brennan Investment Group and Arch Street Capital Advisors have sold a four-building industrial portfolio with a combined square footage of 2.3 million square feet. The properties in the portfolio are located in Bellingham, Mass.; Lawrenceville, Ga.; Butner, N.C.; and Frederick, Md. The buyers, two unnamed, privately held institutional real estate investment firms, purchased the properties for an undisclosed price.BlueLinx Corp., a distributor of building and …

Doosan Bobcat to Invest $70M for Expansion of Manufacturing Facility in Statesville, North Carolina

STATESVILLE, N.C. — Heavy equipment manufacturer Doosan Bobcat North America plans to build a $70 million expansion of its manufacturing facility in Statesville. The company’s acquisition of 68 acres adjacent to its existing 92-acre campus will allow for the addition of 500,000 square feet of attached manufacturing space and 80,000 square feet of attached warehouse and distribution space.The project will create 250 full-time jobs over the next five years in Iredell County. Construction …

Transcendent Electra Acquires 1,889 New Single-Family Rental Homes in Sun Belt Markets

MIAMI — Transcendent Electra, a joint venture between single-family rental (SFR) platform Transcendent Investment Management (TIM) and multifamily owner/operator Electra America, has purchased 1,889 new single-family homes. The company has $496 million in contract process and closing and another $1 billion in the pipeline. This acquisition marks Transcendent Electra’s first significant acquisition since launching in February.The properties are new single-family homes and townhomes that …

Avison Young Secures $40M Financing for Midtown Exchange Project in Raleigh

RALEIGH, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender.At full buildout, Midtown …

Welltower Completes Two Medical Office Buildings in Charlotte Totaling 280,000 SF

CHARLOTTE, N.C. — Welltower Inc. has completed two medical office buildings in Charlotte totaling 280,000 square feet. Atrium Health, which owns the adjacent Carolinas Medical Center, signed a 15-year triple-net lease for the two buildings. Charlotte-based Pappas Properties LLC developed the properties and will remain strategic partners with Toledo, Ohio-based Welltower for the planned nine-acre, healthcare anchored mixed-use campus, as well as future developments.The two medical office …

Marcus & Millichap Arranges $7.2M Sale of Food Lion-Anchored Shopping Center in Henderson, North Carolina

HENDERSON, N.C. — Marcus & Millichap has arranged the $7.2 million sale of a Food Lion-anchored, 182,646-square-foot shopping center located at 1263 Dabney Drive in Henderson. David Gant and Lori Schneider of Marcus & Millichap represented the undisclosed seller, a limited liability company. The duo also represented the undisclosed buyer, another limited liability company.In addition to the Food Lion, the tenant roster includes a new Harbor Freight, Badcock Furniture and the …

Apple to Open $1B Office Campus in North Carolina’s Research Triangle, Add 3,000 Jobs

CUPERTINO, CALIF. — Apple Inc. (NASDAQ: AAPL) will open a $1 billion office campus in North Carolina’s Research Triangle, a move that is expected to add more than 3,000 new jobs to the local economy.The move is part of a larger, $430 billion expansion and capital investment program that the Cupertino-based tech giant projects will bring about 20,000 new jobs to the country over the next five years.According to the Raleigh News & Observer, North Carolina’s Economic Investment …

CBRE | Raleigh Arranges 245,159 SF Life Sciences Lease at The Stitch in Metro Raleigh

MORRISVILLE, N.C. — CBRE | Raleigh has arranged a full-building lease for Invitae Corp. at The Stitch, the former Morrisville Outlet Mall that was converted into a life sciences campus. San Francisco-based Invitae Corp., a medical genetics company, will occupy 245,159 square feet of Class A creative office, research and lab space. The company is expected to create 374 jobs over the next five years for the Raleigh area.The Stitch, owned and developed by Equator Capital Management and OCS …

Crescent Communities Buys 84,800 SF One University Place Office Building in Charlotte’s University Submarket

CHARLOTTE, N.C. — An affiliate of Crescent Communities has purchased One University Place, an 84,800-square-foot suburban office building located in Charlotte’s University office submarket. Dunn Mileham and David Morris of Trinity Partners handled the transaction on behalf of the seller, an affiliate of Chicago-based Origin Investments, located in Chicago, Ill. According to the Charlotte Business Journal, the price was nearly $12.8 million.One University Place was 86 percent leased at …

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