North Carolina Archives - REBusinessOnline

Redline, Landmark Industrial to Develop 137,388 SF Facility in East Charlotte

John Nelson — Thu, 09 Apr 2026 14:48:34 +0000

CHARLOTTE, N.C. — A partnership between Redline Property Partners and Landmark Industrial plans to develop a 137,388-square-foot industrial facility in Charlotte. The firms recently acquired a 13.2-acre infill site at 6407 Old Concord Road on the city’s east side, marking the second industrial land acquisition in the Charlotte area by the Redline and Landmark partnership in the past four months. The duo plans to deliver the facility, which will feature 32-foot clear heights, in early 2027. Henry Lobb, Nick Claudio and Colin Ferguson of Avison Young will lease the facility.

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Rockpoint Acquires Six-Building Industrial Portfolio in North Carolina

John Nelson — Wed, 01 Apr 2026 13:35:09 +0000

GARNER AND CHARLOTTE, N.C. — Boston-based Rockpoint has purchased a six-building industrial portfolio across two properties in North Carolina. The nearly 280,000-square-foot acquisition includes Garner Commerce Center in the south Raleigh suburb of Garner and I-77 Commerce Center in Charlotte. Both three-building parks were recently delivered. The seller and sales price were not disclosed. Rockpoint will manage and operate Garner Commerce Center and I-77 Commerce Center in partnership with affiliate firms Rockhill Management and Rockpoint Industrial.

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Sun Life to Acquire Bell Partners, Combine With BGO Following Buy-Out of Remaining Equity Stake

John Nelson — Tue, 31 Mar 2026 12:00:00 +0000

TORONTO, MIAMI AND GREENSBORO, N.C. — Sun Life Financial Inc. (NYSE: SLF), a Toronto-based financial services organization with $1.6 trillion in assets under management as of year-end 2025, has announced it will acquire Bell Partners, a multifamily investment and management firm based in Greensboro. The acquisition was valued at $350 million and is expected to grow Sun Life’s U.S. multifamily segment. Founded in 1976, Bell Partners has approximately $10 billion of assets under management as of March 1 and manages approximately 70,000 apartments in 12 regions across the United States. The firm operates nine U.S. offices and has close to 1,800 employees. Last year, Bell Partners closed more than $1.3 billion in multifamily acquisitions. “This opportunity will extend Bell’s operating and investment expertise across a larger residential platform and strengthen our depth and reach,” says Lili Dunn, CEO and president of Bell Partners. “It is a natural step in our evolution, preserving the essence of what has made us successful, while also opening new opportunities for the future.” In a separate transaction, Sun Life acquired the remaining 44 percent equity stake of Miami-based BGO, a global real estate investment management firm formerly known as BentallGreenOak, in a deal valued at…

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Equus Acquires Greylyn Business Park in Charlotte for $102M

Abby Cox — Mon, 30 Mar 2026 13:40:52 +0000

CHARLOTTE, N.C. — Equus Capital Partners has acquired Greylyn Business Park, a 19-building industrial park totaling 648,060 square feet in the Southeast Industrial submarket of Charlotte. The $102 million acquisition was completed on behalf of a value-add fund sponsored by Equus. The seller requested anonymity. Constructed between 1965 and 1998, Greylyn Business Park is currently 93 percent leased to 91 tenants. Amenities include 14- to 24-foot clear heights, a combination of dock-high and ground-level loading docks, 15 ramps and more than 1,500 parking spaces. Average suite sizes are approximately 6,550 square feet. Equus plans to implement various capital improvements at the property, such as funding deferred maintenance and modernizing building systems, curb appeal and functionality, as well as preparing vacant suites for new tenants. Equus will also reposition select suites to better align with current market preferences.

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Wood Partners, PGIM to Develop 357-Unit Apartment Community in Morrisville, North Carolina

John Nelson — Thu, 26 Mar 2026 13:36:27 +0000

MORRISVILLE, N.C. — Wood Partners and PGIM have closed on a land acquisition in Morrisville for the development of Alta Watkins, a 357-unit apartment community. Set to open in 2028, the property will be situated in the heart of the Research Triangle and adjacent to Wake Tech’s new community college campus. Sarah Godwin and Karl Hudson of Foundry Commercial represented the land seller in the transaction. Wood Partners plans to break ground soon on Alta Watkins, which will offer one-, two- and three-bedroom apartments, as well as onsite retail space, rentable offices, short-term stay units for guests, a resort-style pool, three outdoor courtyards, outdoor games, fitness center with a sauna and a podcast room. Alta Watkins is Wood Partners’ third development underway in the Raleigh-Durham area in the past 12 months.

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Edgewater Ventures Signs Two Industrial Tenants to Leases Totaling 305,818 SF in Leland, North Carolina

Abby Cox — Fri, 20 Mar 2026 13:22:05 +0000

LELAND, N.C. — Raleigh-based Edgewater Ventures has signed two tenants to new leases totaling 305,818 square feet at Edgewater Commerce Center, a 505,818-square-foot industrial facility in Leland. Global electronics repair and service provider Ivy Technology signed a 200,000-square-foot lease, while home inspection company Home Insights signed a 105,818-square-foot lease. The deals bring Edgewater Commerce Center to full occupancy. Edgewater Commerce Center features tilt-up concrete construction with 24-foot clear heights. The property is the largest multi-tenant industrial facility located within the Wilmington and Myrtle Beach markets, according to Edgewater Ventures. Jordan Holt of Cushman & Wakefield represented Ivy Technology in the lease negotiations. Will Leonard of Cape Fear Commercial and Al Williams of JLL represented the landlord.

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Singh Development Delivers 95-Unit Luxury Seniors Housing Community in North Raleigh

John Nelson — Thu, 19 Mar 2026 14:41:35 +0000

RALEIGH, N.C. — Michigan-based Singh Development has completed Waltonwood Lead Mine, a 95-unit luxury seniors housing community located at 4510 Lead Mine Road in north Raleigh. Cline designed the property, which features assisted living and memory care residences. The community has the capacity for up to 100 residents and will be operated under Singh’s Waltonwood Senior Living brand. Amenities include a movie theater with a popcorn bar, restaurant-style dining room, bistro and a coffee nook. The project team also included Choate Construction, Lighthouse Engineering and structural engineer Hauser and Creech.

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AH Realty Trust Agrees to Sell 11-Property Multifamily Portfolio to Harbor Group for $562M

John Nelson — Tue, 17 Mar 2026 12:00:00 +0000

VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention…

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Woodfield Completes 354-Unit Apartment Community in Huntersville, North Carolina

Abby Cox — Mon, 16 Mar 2026 12:57:11 +0000

HUNTERSVILLE, N.C. — Woodfield Development has completed Merritt Apartments, a 354-unit multifamily community located in Huntersville, about 12 miles north of Charlotte. Situated on roughly 23 acres at 13111 Tadeo Drive, Merritt Apartments offers a mix of studio, one-, two- and three-bedroom floorplans that range in size from 758 to 1,813 square feet. Monthly rental rates begin at $1,466. Amenities include a fitness center with a yoga studio, coworking and lounge spaces, private dining areas, an entertainment courtyard with a putting green and amphitheater-style seating, resort-style swimming pool and cabanas, electric vehicle charging stations, a dog park, pet spa and direct access to nearby green spaces. Select residences also feature private fenced yards, mudroom-style entries, built-in shower benches, smart thermostats and controlled-access entry. The project team included Fosselman Construction (general contractor), Housing Studio (architect) and Shelton Taylor Associates (interior design).

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Foxfield Acquires New Life Sciences Facility in Metro Raleigh Leased to Kryosphere

John Nelson — Tue, 10 Mar 2026 14:05:54 +0000

MORRISVILLE, N.C. — Foxfield has purchased 3503 Page Road, a newly built, 57,000-square-foot life sciences building located in Morrisville, about 14 miles west of Raleigh. The seller and sales price were not disclosed. Kryosphere, a biorepository solutions and cold chain logistics user, operates the facility under a 12-year net lease. The company has invested $5 million into the specialized build-out for pharmaceutical-grade cold storage infrastructure, with plans for an additional $5 million investment for equipment upgrades, according to Foxfield. Built in 2025, 3503 Page Road is situated within the World Trade Park industrial park and offers direct connectivity to I-40, I-540 and Raleigh-Durham International Airport. The building features industrial space, lab support and research-and-development space, as well as 24-foot clear heights.

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APG Buys 250,000 SF North 70 Distribution Center in Durham

Abby Cox — Mon, 09 Mar 2026 14:19:36 +0000

DURHAM, N.C. — Atlanta Property Group (APG) has acquired North 70 Distribution Center, a 250,000-square-foot, vacant distribution facility located at 224 N. Hoover Road in Durham. This acquisition marks APG’s first industrial investment in the Durham submarket. The seller was not disclosed. Situated in Research Triangle Park along the I-40 corridor, North 70 Distribution Center spans 16 acres and features 26 dock-high doors, two drive-in doors, 22-foot clear heights, tilt-wall construction, LED warehouse lighting, parking spaces for cars and trailers and more than 3 acres of secured outdoor storage. The existing walls and office build-outs allow for single-tenant or multi-tenant configurations, with the ability to accommodate users ranging from approximately 50,000 to 250,000 square feet. Approximately 40 percent of the facility is air-conditioned.

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Riverside, Woodfield Open 42-Story Vivian Apartment Tower in Charlotte

Abby Cox — Fri, 06 Mar 2026 13:51:51 +0000

CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have opened Vivian at Queensbridge Collective, a 42-story apartment tower in Charlotte. Goettsch Partners served as the architect for the project. Situated within the larger Queensbridge Collective mixed-use development, the 409-unit apartment tower offers studio, one-, two- and three-bedroom floorplans ranging in size from 558 to 2,180 square feet. Amenities at the complex are distributed across multiple levels of the building, including a ninth-floor fitness center with indoor/outdoor elements, a 10th floor resident lounge featuring bowling and virtual golf and a 42nd-floor rooftop pool deck with grilling stations and skyline views. Riverside and Woodfield began leasing Vivian in late 2025 and welcomed its first residents this month. Monthly rental rates range from $1,792 to $16,744, according to Apartments.com. This fall, Guard and Grace, the Michelin-recommended steakhouse led by chef Troy Guard, is scheduled to open on the 10th floor of Vivian. The 10,224-square-foot restaurant will include a 2,000-square-foot outdoor terrace, private dining areas and direct connections to both the public and residential components of the development. Additionally, the apartment building will be joined by a 43-story mixed-use office and residential tower under construction at 1111 S. Tyron St. that will comprise 20,000 square…

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Six Flags to Sell Seven Theme Parks to EPR Properties for $331M

Abby Cox — Fri, 06 Mar 2026 12:45:00 +0000

CHARLOTTE, N.C. AND KANSAS CITY, MO. — Charlotte-based Six Flags Entertainment Corp. (NYSE: FUN), the world’s largest regional theme park operator, has entered into a definitive agreement to sell seven of its amusement parks for $331 million in cash. Kansas City-based EPR Properties (NYSE: EPR), an experiential and entertainment real estate investment trust, was the buyer. The parks total more than 1,600 acres combined and draw approximately 4.5 million visitors annually. “Consistent with our strategy, this divestiture enables us to concentrate our capital, leadership and operational focus on the properties that we believe generate the strongest returns and offer the greatest long-term upside,” says John Reilly, president and CEO of Six Flags. Six Flags will sell a list of parks including Valleyfair in Minneapolis; Worlds of Fun in Kansas City; Michigan’s Adventure in Grand Rapids, Mich.; Schlitterbahn Waterpark Galveston in Galveston, Texas; Six Flags St. Louis in St. Louis; Six Flags Great Escape in Queensbury, N.Y.; and Six Flags La Ronde in Montreal. Florida-based Enchanted Parks, a newly formed owner-operator entity that was formerly known as Innovative Attraction Management, is partnering with EPR Properties to lease and operate the six U.S. parks, while La Ronde Operations Inc. will lease and operate…

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Scarcity Shapes Strategy: How Tight Vacancy Is Redefining Retail in Raleigh

John Nelson — Mon, 02 Mar 2026 12:32:00 +0000

If there is one defining characteristic of the Raleigh-Durham retail market today, it is scarcity. Exceptionally low vacancy — especially in high-quality, well-located centers — has become the norm rather than the exception, fundamentally reshaping leasing dynamics, rent growth and development strategy across the region. As of third-quarter 2025, overall retail vacancy in Raleigh-Durham stood at approximately 2.4 percent, marking four consecutive years below the 3 percent threshold. Even more telling, spaces under 10,000 square feet posted vacancy closer to 1.8 percent, underscoring just how competitive conditions have become for local and regional tenants. This imbalance between demand and supply has placed landlords in a position of sustained leverage, particularly in grocery-anchored centers, strong neighborhood and lifestyle shopping centers or mixed-use environments. Low vacancy matters because it drives outcomes. Lease-ups are happening faster, concessions are increasingly rare in top trade areas and rents continue to trend upward. For tenants, especially those seeking smaller footprints, waiting to engage often means missing opportunities altogether. For owners, the market rewards proactive asset management and disciplined tenant selection. A clear example of this dynamic is Olde Raleigh Village, a grocery-anchored community shopping center that is currently 100 percent leased. With no vacancy to contend…

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Kane Realty Breaks Ground on 332-Unit Tributary Apartments in Raleigh’s North Hills District

John Nelson — Wed, 25 Feb 2026 15:19:00 +0000

RALEIGH, N.C. — Kane Realty Corp. has broken on Tributary, a multifamily community located within the North Hills Innovation District (NHID) in Raleigh’s North Hills neighborhood. Set to open in spring 2028, the mid-rise property will include 332 apartments, 6,000 square feet of ground-level retail space, two courtyards, a digital content creation studio, wellness center and new greenway connections. The design-build team includes architect Hickok Cole, general contractor John Moriarty & Associates and civil engineer McAdams. Kane Realty is working with the City of Raleigh for Tributary and future phases of NHID to integrate into the city’s road and greenway infrastructure. Additionally, Kane Realty has acquired 28 acres to expand NHID and recently brought in Los Angeles-based McCourt Partners as a development partner. Future projects within NHID will include a residential high-rise and a mixed-use building next to Tributary, as well as mixed-use development along I-440 and pop-up retail and programming. Hush Salon recently opened below Tower 5 at NHID, and upcoming openings include Benchwarmers Bagels and Standard Beer + Food.

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Walker & Dunlop Provides $50.5M Agency Refinancing for Apartment Community in Metro Raleigh

John Nelson — Tue, 24 Feb 2026 15:48:52 +0000

KNIGHTDALE, N.C. — Walker & Dunlop has provided a $50.5 million Freddie Mac loan for the refinancing of Parkstone at Knightdale, a 350-unit apartment community located at 1001 Park Commons Drive in Knightdale, an eastern suburb of Raleigh. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer and Jackson Irwin of Walker & Dunlop originated the loan on behalf of the borrower, The Widewaters Group Inc. Apprise, Walker & Dunlop’s independent third-party appraisal platform, appraised the transaction. Parkstone at Knightdale features one-, two- and three-bedroom units, as well as a fitness center, resort-style pool, playground, pet wash station, resident storage units and an outdoor lounge with a grilling station.

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Avison Young Brokers $16M Sale of Midtown North Office Park in Raleigh

John Nelson — Mon, 23 Feb 2026 15:28:29 +0000

RALEIGH, N.C. — Avison Young has brokered the sale of Midtown North, an 81,901-square-foot office park located at 5910-6040 Six Forks Road in Raleigh. Stephens Enterprises LLC purchased the five-building property for $16 million. Bill Aucoin and Gary Lyons of Avison Young represented the seller, Frank Csapo with Commonwealth Partners LLC. In 2015, Aucoin represented Commonwealth Partners in its acquisition of the park, which at the time was known as Twin Forks Office Park. Situated on 8.8 acres, Midtown North was 79 percent leased at the time of sale to a mix of tenants including several healthcare users.

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Has the Raleigh-Durham Office Market Hit Rock Bottom?

John Nelson — Mon, 23 Feb 2026 12:49:00 +0000

The Raleigh/Durham office market is not yet in full recovery mode; however, the latest data suggests something just as important: stabilization. Compared to many U.S. office markets still experiencing significant stress, Raleigh-Durham is holding its ground — and in several respects, outperforming national trends. Currently, the combined Raleigh-Durham office market totals approximately 118.7 million square feet, with Raleigh making up roughly two-thirds of the inventory and Durham the remainder. Together, they form one of the Southeast’s most dynamic and resilient office regions. Vacancy elevated, improving While higher than pre-pandemic norms, vacancy is trending better than many peer markets. Raleigh’s vacancy rate currently sits around 11.1 percent, while Durham’s vacancy rate is approximately 9.8 percent, according to research from CoStar Group. Combined, this market boasts a blended office vacancy rate of roughly 10.7 percent, well below the 14.1 percent national average. Over the past 12 months, Raleigh recorded positive net absorption of approximately 574,000 square feet, while Durham experienced negative absorption of about 480,000 square feet. Combined, the market landed near equilibrium, which sends an encouraging signal that the market is no longer sliding backward, even if growth remains uneven. The area’s post-pandemic growth is shaped by hybrid work models, changing…

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Drawbridge Realty Signs Law Firm to 30,905 SF Office Lease at Imperial Tower in Durham

Abby Cox — Thu, 19 Feb 2026 14:03:53 +0000

DURHAM, N.C. — Drawbridge Realty has signed its third major tenant at Imperial Tower, a 259,000-square-foot office property in Durham. Regional law firm Robinson, Bradshaw & Hinson will consolidate two Raleigh-area locations to the office building and occupy the entire third floor (approximately 30,905 square feet). Greg Sanchez, Ryan Gaylord and Robin Anders of NAI Tri Properties represented Drawbridge in the lease negotiations, while Ben Litke of Cushman & Wakefield represented the tenant. Drawbridge and NAI Tri Properties have signed almost 165,000 square feet in leases at Imperial Tower in the past three months. In December, Aspida Financial Services signed a lease for three floors for its new headquarters, while earlier this month, Victra, the largest authorized Verizon Wireless retailer in the country, signed a lease for one-and-a-half floors. Imperial Tower is also undergoing a $10 million renovation that will include upgrades to the lobby and conference rooms. The renovation also features amenity upgrades, including a café/bakery/coffee shop, golf simulator, fitness center with locker room and shower facilities, tenant lounge and game room, wellness room, waterside patio, athletic fields and a pickleball/sports court.

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Equus Capital Purchases Industrial Complex in Butner, North Carolina for $46.8M

Abby Cox — Mon, 16 Feb 2026 15:55:34 +0000

BUTNER, N.C. — Equus Capital Partners has acquired Falls Lake Commerce Center, a 341,867-square-foot industrial complex in Butner, approximately 20 miles south of Durham, for $46.8 million. The transaction was completed on behalf of Sweet Grass II, a programmatic joint venture between an affiliate of Equus and a U.S.-based public pension plan. Falls Lake Commerce Center comprises three modern, tilt-wall logistics facilities developed between 2009 and 2015. The buildings feature 30-foot clear heights, ESFR sprinkler systems, shared truck courts, 53 dock-high doors and six drive-in doors. The property also includes a 1.2-acre industrial outdoor storage (IOS) lot with 65 trailer stalls. Falls Lake was fully leased at the time of sale to three tenants including UPS, Nugget Comfort LLC and RiceWrap Foods.

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