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Cushman & Wakefield Arranges 472,890 SF Industrial Lease in Metro Charlotte for American Eagle

John Nelson — Tue, 21 Jul 2026 13:43:25 +0000

SALISBURY, N.C. — Cushman & Wakefield has arranged a 472,890-square-foot industrial lease for American Eagle Outfitters Inc. in the metropolitan Charlotte area. The retailer will occupy a distribution center within Innovation Logistics Center in Salisbury on a long-term lease. Patrick Decker, Ben Brenner and Mark Zaziski of Cushman & Wakefield’s East Rutherford, N.J., office led a multi-year search in markets across three states for American Eagle’s new Southeastern hub. The team, along with locally based Cushman & Wakefield colleague Patrick McGrath, represented the tenant in the lease negotiations. Fermin Deoca and Matt Treble, also with Cushman & Wakefield, represented the landlord, Crow Holdings Development.

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Blue Heron Breaks Ground on 269-Unit Apartment Community in Raleigh

John Nelson — Tue, 21 Jul 2026 13:42:03 +0000

RALEIGH, N.C. — Blue Heron Asset Management has broken ground on Rosewood, a 269-unit apartment development located at 611 W. South St. in Raleigh. The locally based developer acquired the site earlier this year for nearly $12.9 million. The design-build team includes architect Cline, which is also providing interior design and landscape architecture services, as well as general contractor W.M. Jordan Co., civil engineer Withers Ravenal, MEP engineer Lighthouse Engineering and structural engineer EM Structural. Upon completion, which is expected for 2028, Rosewood will comprise two buildings and a central public plaza. Units will range in size from 499 to 1,531 square feet and amenities will include a sauna, cold plunge, coworking areas, rooftop lounge, speakeasy and 5,500 square feet of retail space along South Street.

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Charlotte’s Office Market Picks Up in 2026 as Activity Accelerates

John Nelson — Mon, 20 Jul 2026 11:45:00 +0000

The story in Charlotte’s office market today is a continuation of what began to take shape last year — only now, the activity behind it is real and measurable. The tenants that were cautiously exploring the market in 2024 have re-engaged, and many are now making decisions with greater clarity around their long-term space needs. Leasing volume reflects that shift. Activity reached roughly 1.4 million square feet in the first quarter of 2026, a significant increase year-over-year, with the majority of deals driven by new leases and expansions. That’s been the biggest change over the past 12 months: groups that were once on the sidelines are now moving forward, and deal velocity is picking up across multiple industries. At the same time, demand remains highly focused on quality. Class A buildings continue to capture most of the leasing activity, accounting for nearly 70 percent of total volume and leading overall absorption, which approached 400,000 square feet in first-quarter 2026. The best-performing assets in Uptown, Midtown and South Park are seeing steady occupancy gains, with rents at the top of the market pushing into the high-$50s per square foot. That said, the conversation around quality is becoming more nuanced. While top-tier…

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Trinity Capital, Town Lane Begin Renovations for 15-Story Office Building in Uptown Charlotte

John Nelson — Wed, 15 Jul 2026 14:23:47 +0000

CHARLOTTE, N.C. — Trinity Capital Advisors and Town Lane have begun renovations on 440 South Church, a 15-story, 388,657-square-foot office building in Uptown Charlotte. Current tenants at the Class A property include Driven Brands and HDR Engineering. Updates to 440 South Church will include a redesigned lobby, new lounges, upgraded building systems and renovations to the street-level arrival points, amenities and common areas. Trinity Capital originally developed 440 South Church in 2009 and acquired the property last October in a joint venture with Town Lane. The design-build team for the renovation includes architectural firm Redline Design Group and general contractor Choate Construction. The team plans to finalize the renovation work by early second-quarter 2027.

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Lincoln Acquires Spectrum, Doubling Down on Carolinas Region

Kristin Harlow — Wed, 15 Jul 2026 12:00:00 +0000

DALLAS AND CHARLOTTE, N.C. — Global real estate company Lincoln Property Co. has acquired The Spectrum Cos., a full-service real estate firm based in Charlotte. The acquisition enhances Lincoln’s platform in the Carolinas region. Johno Harris, senior executive vice president at Lincoln, and Stephen McClure, CEO of Spectrum, will be leading Lincoln’s Carolinas platform, which will now also include Spectrum’s Northern and Central Florida’s multifamily business. Since its inception in 1982, Spectrum has developed nearly 7,000 multifamily units and currently leases and manages a total of 4.4 million square feet of assets. With this new partnership and investment in the platform, the combined firm is poised to ramp up its development and acquisition pipeline across both multifamily and commercial real estate. “Our shared values are the foundation for seamless integration, and Lincoln’s full-service platform and national resources will only strengthen what we’ve already built,” says McClure. Darryl Dewberry, Spectrum’s executive chairman, will continue in his role to ensure continuity for the development and investment partnerships he has helped cultivate across the Carolinas. Lincoln says the acquisition broadens its product offerings in the region and deepens its capacity to serve clients, pursue opportunities and compete more effectively. Dallas-based Lincoln is one…

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Marcus & Millichap Brokers Sale of New Store in Mebane, North Carolina Leased to Tractor Supply Co.

John Nelson — Wed, 15 Jul 2026 11:30:00 +0000

MEBANE, N.C. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly delivered store in Mebane, a city that lies midway between Durham and Greensboro, N.C. Tractor Supply Co. occupies the store, which was delivered last year, on a 20-year lease that features 5 percent rent increases in the initial term. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail brokered the transaction between the out-of-state 1031 exchange buyer and the seller, an unnamed development firm. “This transaction highlights our ability to source larger 1031 exchange buyers for investment-grade net lease assets,” says McMinn. “We generated multiple competitive offers, drove pricing and secured non-refundable earnest money on day one.”

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Colliers Brokers Sale of 111,852 SF Shopping Center in Asheville

John Nelson — Tue, 14 Jul 2026 14:10:41 +0000

ASHEVILLE, N.C. — Colliers has brokered the sale of Westgate Shopping Center, a 111,852-square-foot shopping center located at 40 Westgate Parkway in Asheville. Built in 1956, Westgate is leased to Earth Fare, CVS, Crumbl Cookies, The UPS Store and other national and regional retailers. UNC Health purchased the shopping center from FIRC Group Inc. for an undisclosed price. Scott Israel of Colliers’ Atlanta office represented the seller in the transaction, while John Spake of Spake Real Estate represented the buyer.

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Ascendant Purchases Eight-Hotel Portfolio Across Virginia Beach, Outer Banks

Abby Cox — Mon, 13 Jul 2026 13:53:06 +0000

LOS ANGELES — Los Angeles-based Ascendant Capital Partners has acquired an eight-property hotel portfolio across Virginia Beach and North Carolina’s Outer Banks region. CBRE Hotels, the hospitality division of CBRE Group, represented the seller, Coastal Hospitality, in the transaction. CBRE also served as financial advisor on behalf of Ascendant. The sales price was not disclosed. Schulte Hospitality Group will assume operations of the portfolio. The portfolio comprises 965 rooms across six hotels in Virginia and two hotels in the Outer Banks. Seven of the eight properties are beachfront, with most rooms offering direct ocean views and outdoor balconies, while the remaining asset is a centrally located town center hotel. The properties include: Ascendant plans to implement capital and operational renovations across the properties.

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Western North Carolina Is Changed, But Not Broken, Following Hurricane Helene

John Nelson — Mon, 13 Jul 2026 11:57:00 +0000

Hurricane Helene was not a modest disruption. It was a disaster of historic scale. The North Carolina Office of State Budget and Management estimated total damage and recovery needs at $59.6 billion as of Dec. 2024, including damage to more than 73,000 homes, more than 100 confirmed deaths in North Carolina and a federal disaster declaration covering 39 counties. As a broker in Western North Carolina (WNC), I am often asked why the commercial real estate market has remained as strong as it has. The answer is not that the market avoided pain. It did not. The answer is that a tightly supplied market behaves very differently from a soft market after a disaster. In WNC, Hurricane Helene did not expose oversupply. It exposed scarcity. Before Helene, the Asheville-area commercial market already had very little slack. In NAI Beverly-Hanks’ second-quarter 2024 Asheville MSA commercial market report, CoStar Group-derived vacancy stood at 5.3 percent for industrial, 2.8 percent for office and 1.6 percent for retail. Earlier 2024 reporting from the same source showed similarly constrained conditions, reinforcing the same point: this was already a tight market before the storm arrived. A familiar recovery pattern That pre-storm scarcity shaped the recovery pattern.…

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Welcome Group Inks Full-Building Industrial Lease in Durham, North Carolina Totaling 100,100 SF

Abby Cox — Wed, 01 Jul 2026 12:32:00 +0000

DURHAM, N.C. — Welcome Group has executed a 100,100-square-foot full-building lease at Welcome Venture Park, an industrial and flex business park under construction in Durham. The undisclosed tenant will occupy Building C at the property. Larry Lakins, Andrew Young, Hunter Willard and Shields Liggett of Colliers represented Welcome Group, while Doug Brock of Newmark represented the tenant. Welcome Venture Park will total 1.3 million square feet across 10 buildings upon completion of all four phases. Phase I comprises nearly 395,000 square feet across four buildings and is more than 90 percent leased. Existing tenants include Cavalier Logistics, the Food Bank of Central & Eastern North Carolina, Great Day Improvements, Mobile Communications America (MCA), PEP Move and DeHaven’s Transfer & Storage. Scheduled for delivery in fall 2026, Phase IIA consists of Buildings C and H and totals approximately 200,550 square feet. Building C is fully leased, while Building H offers 100,450 square feet available for lease. City Bank is financing Phase IIA. Phase IIB, which will include an additional 439,560 square feet across Buildings I and J, is anticipated to deliver in late 2027 and early 2028. The overall development is designed to accommodate manufacturing, laboratory, warehouse, distribution and technology-focused users.…

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Six New Tenants Sign Leases at Mixed-Use Development in Pittsboro, North Carolina

Abby Cox — Tue, 30 Jun 2026 13:54:47 +0000

PITTSBORO, N.C. — Six new tenants have signed leases at MOSAIC at Chatham Park, a 44-acre development in Pittsboro, roughly 35 miles west of Raleigh. MOSAIC serves as the commercial gateway to Chatham Park, an 8,500-acre mixed-use development currently underway. Italian restaurant a Tavolo is slated to open this August, and Atlanta-based restaurant Flying Biscuit is anticipated to open in the third quarter of 2027. New View Eye Care will open in March 2027, while gourmet ice creamery and candy kitchen Pecan Jacks is anticipated to open this summer. Verizon will open in the fourth quarter of 2026. Meanwhile, First Horizon Bank has acquired a nearly 1-acre parcel for $2.6 million to construct a 3,150-square-foot building. Eight of the 17 buildings planned for MOSAIC are complete. One building is currently under construction and nine are in the pre-construction phase. The project is expected to be fully complete by 2030. Upon completion, Chatham Park is expected to comprise approximately 22,000 homes, with 22 million square feet of office, research, retail, educational and community space. Northwood Landing, a grocery-anchored mixed-used development situated adjacent to MOSAIC, has also recently welcomed two new tenants, including Chase Bank and Wells Family Dental Group. Additional tenants…

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Lowes Foods to Anchor Mixed-Use Project in Mooresville, North Carolina

John Nelson — Wed, 24 Jun 2026 13:41:46 +0000

MOORESVILLE, N.C. — Lowes Foods plans to anchor Cadia Village Mooresville, a mixed-use development underway in suburban Charlotte. The Winston-Salem-based grocer will open a 52,000-square-foot store that features various departments, including a craft brewery (The Beer Den), coffee shop (Boxcar Coffee) and bakery (The Cakery). The developer, Pappas Properties, plans to break ground on the new Lowes Foods store in the third quarter, aiming for delivery in 2027. Situated near Lake Norman, Cadia Village Mooresville will feature a retail center, offices, a community village green space, for-sale homes, active adult apartments and cottage townhomes. Pappas Properties broke ground on Phase I of the mixed-use project last November.

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InterFace: Industrial Developers Are Fielding More Atypical Requirements from Tenants

John Nelson — Thu, 18 Jun 2026 12:00:00 +0000

During his keynote address at InterFace I-85 Industrial Corridor, a two-day conference held May 19-20 at the Hilton Uptown Charlotte, Gregg Healy, executive vice president and head of industrial services at Savills, shared a quote from Charles Darwin to end his presentation. “It is not the strongest of the species that survives, nor the most intelligent, but the one most adaptable to change.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Industrial owners and developers have had to be adaptable given the haymakers issued by macroeconomic forces the past several years. During the COVID-19 pandemic, they rode the reinvigorated demand wave for e-commerce fulfillment with large-scale developments in key transportation corridors. In the following years, they scaled down their pipelines to focus on smaller, more targeted requirements as construction and capital costs rose significantly. And since Liberation Day, when the Trump administration declared a sweeping package of tariffs for foreign trade partners and specific commodities in April 2025, industrial developers have been building and leasing facilities for domestic and global manufacturers that were nearshoring their investments. Today, owners and…

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Obrecht Properties Enters North Carolina With Planned 325,550 SF Industrial Development Near Fort Bragg

John Nelson — Wed, 17 Jun 2026 14:28:43 +0000

FAYETTEVILLE, N.C. — Obrecht Properties LLC has purchased 30 acres adjacent to Fort Bragg, a U.S. military base spanning 160,000 acres in central North Carolina. The Maryland-based developer plans to develop The Gateway at Military Business Park, a six-property industrial park spanning 325,550 square feet, on the site at 2755 Procurement Circle in Fayetteville. The park represents Obrecht’s entry into North Carolina. The developer plans to break ground immediately on Phase I, which will comprise two single-story buildings totaling 52,500 square feet, with plans to deliver the first phase next summer. Obrecht has tapped Neil Grant and Roger Marx of Grant-Murray Real Estate to oversee leasing at The Gateway at Military Business Park.

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Partnership Breaks Ground on 809,141 SF Industrial Park in Durham

John Nelson — Tue, 16 Jun 2026 14:04:48 +0000

DURHAM, N.C. — A partnership between Hines and an Ares Real Estate fund has begun construction on Parkside Commerce Center, a four-building industrial park spanning 809,141 square feet in Durham. The project will be situated along Silicon Drive and sit adjacent to Research Triangle Park. The co-developers have tapped Foundry Commercial to lead leasing and marketing at Parkside Commerce Center, which will be developed in two phases. Phase I, which is slated to deliver in fourth-quarter 2027, will include Building 1 (a 237,824-square-foot rear-load facility) and Building 2 (a 283,724-square-foot rear-load building). Both buildings will feature 36-foot clear heights and 63 trailer stalls. Phase II will include Building 3 (a 172,289-square-foot facility) and Building 4 (a 115,304-square-foot property), both of which will have 32-foot clear heights.

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Wilder, Greenberg Gibbons Purchase 163,975 SF Shopping Center in Raleigh, Plan Renovations

Abby Cox — Fri, 12 Jun 2026 13:10:55 +0000

RALEIGH, N.C. — Wilder and Greenberg Gibbons have formed a joint venture to acquire Wakefield Commons, a 163,975-square-foot shopping center located in Raleigh. According to the Triangle Business Journal, an entity doing business as Mishorim Gold NC LP sold the asset for $33 million. The acquisition marks Wilder’s entry into North Carolina, as well as Greenberg Gibbon’s first purchase through its $300 million Real Estate Income Fund II. Wakefield Commons was 96.3 percent leased at the time of sale to tenants including Starbucks, Marquee Cinemas and Burn Boot Camp. Greenberg Gibbons plans to renovate and improve the shopping center. Additional details were not disclosed.

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InterFace: Concessions Remain an Operational Necessity for Multifamily Stakeholders

John Nelson — Thu, 11 Jun 2026 12:00:00 +0000

CHARLOTTE, N.C. — Midway through a panel discussion comprising apartment operators, moderator Stephanie Garris, director and head of North Carolina at property management firm Arqline, asked the panelists for one thing in multifamily operations that they wish they could stop doing tomorrow. “Offering concessions,” said Dallas Green, regional vice president of RPM Living. “Dallas stole my answer,” said Sherry Yarborough, director of multifamily management Southeast at Drucker & Falk. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The panelists were part of InterFace Carolinas Multifamily, an annual networking and information conference held on May 21 at the Hilton Charlotte Uptown. The conference, hosted by InterFace Conference Group and Southeast Real Estate Business, brought in 273 attendees. Concessions often take the form of free rent for a set period, typically one or two months. Renters at newly delivered properties can get up to three months of free rent in some markets today, with longer rent-free periods reserved for those who sign longer term leases or for signing a lease within 24 to 48 hours of touring the property. Yarborough said…

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Mesa West Provides $29.7M Acquisition Loan for Apartment Community in Cary, North Carolina

John Nelson — Tue, 09 Jun 2026 14:10:50 +0000

CARY, N.C. — Mesa West Capital has provided a $29.7 million acquisition loan for The Ellery of Cary, a 194-unit apartment community located at 100 Hempstead Court in Cary, a suburb of Raleigh. Trevor Brotman, Tricia Linden and Kara Profitt of Walker & Dunlop’s Irvine, Calif., office arranged the five-year, non-recourse loan on behalf of the borrower, McDowell Properties. The seller and sales price were not disclosed. Built in 1988 on nearly 19 acres, The Ellery of Cary offers a mix of one- and two-bedroom floorplans averaging 875 square feet in size. Amenities include a swimming pool with a sundeck, 24-hour fitness center, dog park, outdoor courtyard with fire pits and grills and walking trails with direct access to the Black Creek Greenway.

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Walker & Dunlop Arranges $223M in Bridge Financing for Southeast Multifamily Portfolio

Abby Cox — Fri, 05 Jun 2026 14:06:11 +0000

BETHESDA, MD. — Walker & Dunlop has arranged $223 million in bridge financing for five multifamily properties in North Carolina, South Carolina and Florida totaling 1,345 units. Walker Layne, Austin Sneed and Tyler Evenson of Walker & Dunlop secured the loans through multiple undisclosed debt funds. The borrower was Madison Capital Group. The portfolio includes:

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Jefferson Apartment Group Begins Leasing 350-Unit Property in Charlotte’s Optimist Park Neighborhood

John Nelson — Tue, 02 Jun 2026 13:52:01 +0000

CHARLOTTE, N.C. — Regional multifamily developer Jefferson Apartment Group (JAG) has begun leasing J Optimist Park, a six-story, 350-unit apartment building located outside of downtown Charlotte in the city’s Optimist Park neighborhood. The building offers one- and two-bedroom units that range in size from 523 and 1,197 square feet. Monthly rental rates at J Optimist Park range from $1,280 to $2,230, according to Apartments.com. Amenities include a pool, outdoor yoga lawn, bike storage and 467 resident parking spaces. United Bank provided construction financing for the project.

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