North Carolina Archives - REBusinessOnline

JLL Arranges $237.7M Loan for Life Sciences Campus in Research Triangle Park

John Nelson — Tue, 13 Oct 2026 15:42:15 +0000

MORRISVILLE, N.C. — JLL has arranged $237.7 million loan for Phase I of Pathway Triangle, a life sciences campus underway in North Carolina’s Research Triangle Park (RTP). Phase I comprises four life sciences and advanced manufacturing buildings totaling 581,789 square feet on McCrimmon Parkway in Morrisville, about 14 miles west of Raleigh. Brett Paulsrud, Amy Lousararian, Andrew Gray, Ward Smith, Hugh Doherty and Libby Horton of JLL arranged the loan through Starwood Property Trust on behalf of the borrower, King Street Properties. Two buildings totaling 377,111 square feet have been completed at Pathway Triangle and are 73 percent leased. Building 1 is partially leased to Liquidia Pharmaceuticals for the manufacturing of Yutrepia, an FDA-approved inhalation powder treating pulmonary arterial hypertension. Building 2 is fully leased to Novartis. Construction began recently on the other two Phase I buildings — Building 4 (148,434 square feet) and Building 7 (56,244 square feet), which is fully preleased to Novartis. A second phase is planned for Pathway Triangle, upon completion of which the campus will span 950,000 square feet.

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Wegmans to Open 110,000 SF Grocery Store in Charlotte This Week

John Nelson — Tue, 13 Oct 2026 15:33:21 +0000

CHARLOTTE, N.C. — Wegmans, a large-format grocer based in Rochester, N.Y., plans to open a 110,000-square-foot grocery store at 11550 N. Community House Road in Charlotte on Wednesday, Oct. 14. The store is an anchor of Ballantyne, Northwood Investors’ 2,000-acre master-planned development on the south side of Charlotte adjacent to the South Carolina border. The store will feature all traditional Wegmans departments, including produce, seafood, meat, bakery, deli, cheese and wine and beer. Additional offerings will include Meals2Go and catering, online shopping capabilities, a floral shop, coffee and home goods. The store will also have a market café with indoor and outdoor seating for customers dining at one of Wegmans’ multiple food outlets. Wegmans has hired 450 associates to operate the new store, which is currently the southernmost store in Wegmans’ network.

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Pappas Properties Breaks Ground on Publix-Anchored Retail Center in Metro Charlotte

John Nelson — Tue, 06 Oct 2026 15:31:57 +0000

MATTHEWS, N.C. — Pappas Properties has broken ground on a Publix-anchored retail center at Cadia Village Matthews, an 84-acre mixed-use campus in metro Charlotte. The approximately 50,000-square-foot grocery store will feature a full-service pharmacy with a drive-thru and is expected to employ roughly 150 associates. The Publix store is set to open in fourth-quarter 2027. Other commercial tenants coming to the retail village at Cadia Village Matthews will include medical office users, a bank branch, fast-casual and sit-down restaurants and neighborhood retail and services. The mixed-use project also features single-family homes and townhomes under construction by David Weekley Homes. Choate Construction is building the retail village on behalf of Pappas Properties.

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Trammell Crow Co., Investors Break Ground on 233,335 SF Spec Industrial Development in Charlotte

John Nelson — Thu, 01 Oct 2026 13:08:12 +0000

CHARLOTTE, N.C. — Trammell Crow Co. and a consortium of investors including CBRE Japan and Mitsubishi Logistics Corp. have broken ground on Caldwell Commerce Center, a two-building, 233,335-square-foot speculative industrial development located at 6122 and 6125 Caldwell Park Drive in Charlotte. The 24-acre property will feature two rear-load buildings measuring 106,175 square feet and 127,160 square feet. Each building will feature 32-foot clear heights, build-to-suit office space and ESFR sprinkler systems. Bryan Crutcher and Alek Salfia of CBRE are the leasing agents for Caldwell Commerce Center. The design-build team includes Landmark Builders (general contractor), Seamon Whiteside (civil engineer) and 9G Studio (architect).

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Orion Buys Food Lion-Anchored Shopping Center in Boone, North Carolina for $26.1M

John Nelson — Wed, 30 Sep 2026 14:22:31 +0000

BOONE, N.C. — Miami-based Orion Real Estate Group has acquired Watauga Village, an 88,800-square-foot neighborhood shopping center located in Boone, a city in western North Carolina and home of Appalachian State University. Adam Russ, Erin Varol and Will Register of CBRE represented the undisclosed seller in the $26.1 million transaction. Food Lion anchors the property, which was fully leased at the time of sale to tenants including Michaels, Mercy Urgent Care, Spectrum, Tropical Smoothie Café and Wingstop. Orion currently owns or manages an additional 23 properties totaling 101,583 square feet throughout North Carolina, which are all single-tenant, triple-net properties. Watauga Village is the firm’s first shopping center acquisition in the state.

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Canvas Residential, Kelley Properties to Develop 141-Unit Build-to-Rent Project in Bermuda Run, North Carolina

Abby Cox — Fri, 25 Sep 2026 12:43:17 +0000

BERMUDA RUN, N.C. — Canvas Residential Partners and Kelley Properties plan to develop Wellstead at Kinderton Farms, a 141-unit build-to-rent project located in Bermuda Run, a town in Davie County roughly 13 miles west of Winston-Salem, N.C. Site work is expected to commence this month, with the first homes scheduled for delivery in spring 2028. Wellstead at Kinderton Farms will include 128 townhomes and 13 single-family detached homes. Townhomes will range up to 1,700 square feet in size and will offer two- to four-bedroom floorplans and two-car garages. Single-family homes will total up to 2,100 square feet in size and will feature four bedrooms and two-car garages. Amenities at the community will include a clubhouse and leasing center overlooking a lake, a dedicated wellness center, swimming pool, resident lounge, dog park and neighborhood sidewalks.

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Harris Teeter Plans $253M Investment to Enhance Stores, Expand in Carolinas

John Nelson — Wed, 23 Sep 2026 12:53:05 +0000

MATTHEWS, N.C. — Harris Teeter, a Matthews-based regional grocer and subsidiary of The Kroger Co., plans to invest approximately $253 million over the next three years to refresh and modernize select stores in North Carolina and South Carolina. Renovations and enhancements are planned for locations in Fort Mill and Rock Hill, S.C.; and Matthews, Waxhaw, Concord and Huntersville, N.C. In addition, Harris Teeter plans to open three new stores in Fort Mill and Lake Wylie, S.C., and Kannapolis, N.C. Customers will begin seeing store updates roll out in phases, with timing and scope varying across locations over the next three years. As renovations are completed, grand reopenings are expected to begin this fall.

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JLL Arranges $86.7M Sale of 323,113 SF Shopping Center in Metro Raleigh

John Nelson — Thu, 17 Sep 2026 13:33:07 +0000

RALEIGH, N.C. — JLL has arranged the $86.7 million sale of Knightdale Marketplace, a 323,113-square-foot super regional shopping center in metro Raleigh. Invesco Real Estate purchased the 43.5-acre property from a joint venture between affiliates of Bailard Inc. and M&J Wilkow Ltd. Tom Kolarczyk, Andrew Kahn, Ella Glover and Katie Sanger of JLL represented the seller in the transaction. Built in 2008 along I-540, Knightdale Marketplace is located at 1006 Shoppes at Midway Drive and 210-304 Hinton Oaks Blvd. in Knightdale. Target and The Home Depot shadow-anchor the center, which was fully leased at the time of sale to tenants including Academy Sports + Outdoors, Best Buy, T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Michaels, PetSmart, Barnes & Noble, Starbucks, Five Guys, Jersey Mike’s, Qdoba, Tropical Smoothie Cafe, Subway and Visionworks. The shopping center also includes outparcels leased to Wells Fargo, Arby’s and Saltgrass Steak House.

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Space Craft Begins Leasing 389-Unit Apartment Community in Charlotte

John Nelson — Wed, 16 Sep 2026 14:36:55 +0000

CHARLOTTE, N.C. — Space Craft has launched leasing at Oxbow, a 389-unit apartment development underway at 2125 N. Davidson St. in Charlotte’s Optimist Park neighborhood. Sentral manages the apartment community, which is will provide direct access to the Cross Charlotte Trail. Residences at Oxbow will range from studio apartments to four-bedroom units spanning 410 to 1,501 square feet, as well as 1,258-square-foot townhomes and more than 11,300 square feet of ground-level retail space. Monthly rental rates will range from $1,320 to $3,325, according to Apartments.com. Amenities at Oxbow will include separate cardio and strength gyms, a spa with a sauna and treatment room, coworking space, content studio, makers space, lounge, fleet share services, guest suites, self-serve market and two rooftop venues. The design-build team includes Shook Kelley (architect), Swinerton (general contractor) and Timberlab (cross-laminated timber provider).

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Cuadra Capital Acquires 250,000 SF of Retail, Mixed-Use Developments in North Carolina, Florida

Abby Cox — Mon, 14 Sep 2026 13:35:09 +0000

CHARLOTTE, N.C. — Cuadra Capital, a Charlotte-based real estate investment and operating firm, has acquired multiple retail and mixed-use assets totaling 250,000 square feet across North Carolina and Florida. The acquisitions include State Street Station in Greensboro, College Plaza in Winston-Salem and the Bottleworks District in Wilmington, N.C. The lone Florida acquisition was Park & King in Jacksonville. State Street Station is a 60,977-square-foot, eight-building neighborhood retail center that includes a mix of food-and-beverage, service, medical and wellness retail tenants. The firm also acquired four adjacent parcels from a local owner to expand parking capacity and improve accessibility surrounding State Street Station. College Plaza is a 50,000-square-foot shopping center located across from The Grounds, a 100-acre mixed-use district under construction. The center is home to local tenants such as Jimmy the Greek and Elizabeth’s Pizza. As part of the acquisition, Cuadra also purchased the adjacent parcel situated at 2730 University Parkway, with plans to implement capital improvements at the property. The Bottleworks District is a four-property, 100,000-square-foot mixed-use portfolio that spans three contiguous blocks. The portfolio is home to a mix of food-and-beverage, office and light industrial tenants, including Hi-Wire Brewing, The Ibis, Cugina Forno and the YMCA. Park & King…

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Spandrel, 7G Group to Add W Hotel as Anchor for Uptown Charlotte Tower Redevelopment

John Nelson — Thu, 10 Sep 2026 13:55:21 +0000

CHARLOTTE, N.C. — A partnership between Spandrel Development Partners and 7G Group has announced plans to add a 200-room W Hotel to 400 South Tryon, a redevelopment of a 1970s-era office tower in Uptown Charlotte. The new hotel will be situated on the first nine floors of the tower, along with an 18,000-square-foot rooftop bar on the 34th floor. Other components of the tower include 399 unbranded apartments, residential amenities and an existing 517-space parking garage. The W Charlotte will offer 173 guest rooms, 27 suites (including a penthouse), 12,000 square feet of meeting space, a ground-floor restaurant and coffee bar and a ballroom with pre-function space. The design-build team for the new hotel includes Rockwell Group, LS3P and CetraRuddy. The timeline for the hotel’s opening was not released.

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Davis Cos., Intersect to Develop 462,000 SF Industrial Facility in Gastonia, North Carolina

John Nelson — Wed, 09 Sep 2026 14:09:00 +0000

GASTONIA, N.C. — A joint venture between The Davis Cos. and Intersect Development Group has plans to develop a 462,000-square-foot industrial facility located at 2550 Jenkins Dairy Road in Gastonia, a western suburb of Charlotte along I-85. The cross-dock building, which can accommodate logistics or manufacturing users, will feature 40-foot clear heights, 100 dock doors, 215 trailer parking spaces, 328 auto parking spaces, ESFR sprinkler system and a secured truck court. Davis and Intersect plan to deliver the project in January 2027.

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Nonprofit Acquires Two Raleigh Office Buildings for Future Schools, Headquarters

John Nelson — Tue, 08 Sep 2026 14:05:37 +0000

RALEIGH, N.C. — Frankie Lemmon School and Foundation has acquired two office buildings located at 4401 and 4501 Atlantic Ave. in Raleigh. The 114,781-square-foot campus will serve as the nonprofit’s future home and will house the Frankie Lemmon School and Lemmon Tree Academy. The campus will include purpose-built classrooms, therapy rooms, sensory spaces, family support areas and community gathering spaces, with the capacity to serve 230 students. The organization plans to begin construction on its new Raleigh home next year and open its preschool and grade school in 2028. Clayton Collins, Chandler Hawkins and Harrison Benson of CBRE represented Frankie Lemmon School and Foundation in the acquisition. Jane Doggett and Patrick Blackley of Foundry Commercial represented the undisclosed seller.

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HMF Americana Acquires Land from Harris Teeter in Metro Charlotte, Plans Build-to-Rent Development

Abby Cox — Fri, 04 Sep 2026 13:45:46 +0000

CHARLOTTE, N.C. — HMF Americana, a “hybrid home” development firm, has acquired a development site in metro Charlotte from locally based grocer Harris Teeter with plans to develop a 221-unit build-to-rent residential community. Situated between Stallings and Weddington, N.C., the development will include cottage-style rental homes, along with a portion of homes that will be reserved for residents age 55 and older. The project will also feature approximately 10,000 square feet of multi-tenant commercial space, with additional land available for future expansion. Dowell Finch of New South Properties is leading commercial leasing efforts at the property. Site work is expected to begin next month, followed by vertical construction in the first quarter of 2027. Initial resident move-ins are expected to begin in the third quarter of 2027.

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Accesso Signs Piedmont Health Services to 24,000 SF Office Lease in Durham

John Nelson — Thu, 03 Sep 2026 13:22:20 +0000

DURHAM, N.C. — Accesso has signed a 24,000-square-foot lease with Piedmont Health Services, a North Carolina-based nonprofit healthcare system, in Durham. The tenant will occupy two spaces within two different buildings at Meridian Business Park, a 10-building office park. The lease term for both suites is nearly 11 years and will establish the organization’s long-term administrative headquarters, as well as flex space to warehouse equipment for Piedmont Health’s clinics and facilities across 14 North Carolina counties. Issac Brown and Doug Brock of Newmark represented Piedmont Health in the lease negotiations, and Brad Corsmeier and Brian Carr of CBRE represented Accesso. The owner also recently secured a loan modification for its mortgage at Meridian Business Park, which includes capital reserves to fund property improvements, renovations and spec suite development.

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Ram Realty Delivers 310-Unit Apartment Community in Durham

John Nelson — Wed, 02 Sep 2026 12:21:47 +0000

DURHAM, N.C. — Ram Realty Advisors has delivered Wye Junction, a 310-unit apartment community located at 701 Washington St. in Durham. Designed by Cline, the 5.2-acre multifamily project is an adaptive reuse of the former Erwin Oil site that dates back to 1937. The North Carolina-based architectural firm included elements of the former oil distribution facility into the design, including repurposed oil tankers and train trestles. Wye Junction features more than 7,000 square feet of retail space, a pedestrian plaza and rooftop amenities. Apartments come in one-, two- and three-bedroom layouts, and monthly rental rates range from $1,625 to $4,650, according to Apartments.com. The design-build team included general contractor Thomas Construction Group.

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JLL Arranges Sale of 10.5 MSF Southeast Industrial Portfolio for EQT Real Estate

John Nelson — Tue, 01 Sep 2026 14:22:51 +0000

CHICAGO — JLL has arranged the sale of a 10.5 million-square-foot industrial portfolio in the Southeast. EQT Real Estate is selling the 46-building portfolio to an affiliate of California-based LBA Realty for an undisclosed price. John Huguenard, Trent Agnew, Will McCormack and Tara Hagerty of JLL represented the seller in the transaction. Additionally, Kevin MacKenzie, Peter Thompson, Steven Klein and Chris Pratt of JLL arranged an undisclosed amount of acquisition financing through two national banks for the buyer. The sold portfolio features properties in 10 separate markets, including Charlotte and Greensboro, N.C.; Greenville-Spartanburg, S.C.; Atlanta and Savannah, Ga.; Tampa, Orlando and Jacksonville, Fla.; and Birmingham and Huntsville, Ala. The logistics facilities in the portfolio average 230,000 square feet in size, according to JLL.

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Beacon Partners Breaks Ground on 1.5 MSF Manufacturing, Logistics Park in West Charlotte

Abby Cox — Mon, 31 Aug 2026 13:17:52 +0000

CHARLOTTE, N.C. — Beacon Partners has broken ground on Rapid Commerce Park, a planned 1.5 million-square-foot manufacturing and logistics park located in west Charlotte. The initial phase will include three buildings at the intersection of Rhyne and Mount Holly roads. The buildings will be 70,825 square feet, 74,722 square feet and 264,490 square feet. Completion is slated for the fourth quarter of 2027. The project team includes general contractors Edifice Construction and Choate Construction, civil engineer Orsborn Design Group and architect WGM Design.

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JLL Arranges Sale of 252-Unit Multifamily Community in Raleigh

Abby Cox — Fri, 28 Aug 2026 13:52:03 +0000

RALEIGH, N.C. — JLL Capital Markets has arranged the sale of Milo, a 252-unit apartment community located at 821 Hanbury Way in Raleigh. John Mikels, John Gavigan, Chase Monroe, William Martin and McCullough Campbell of JLL represented the seller, Charleston-based Greystar, in the transaction. The buyer was an entity doing business as Milo Apartments LLC. The sales price was not disclosed. Completed in 2024, Milo comprises eight three-story residential buildings housing a mix of one-, two- and three-bedroom floorplans. Amenities at the garden-style complex include a swimming pool and sundeck, poolside cabanas, yoga lawn, coworking hub, fitness center, cardio and cycle studio, outdoor grill/kitchen, dog park, community garden, resident lounge and a clubhouse.

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Merritt Properties Breaks Ground on 150-Acre Industrial Park Near Raleigh-Durham Airport

John Nelson — Thu, 27 Aug 2026 14:48:18 +0000

MORRISVILLE, N.C. — Merritt Properties has broken ground on the first phase of RDU Business Park, a 150-acre light industrial development located at 2040-2060 Seagirt Ave. in Morrisville, about three miles from Raleigh-Durham International Airport. The project will be situated in the jurisdiction of the city of Cary, N.C. Phase I, which is set for completion in late 2027, will span 31 acres and comprise three single-story buildings totaling 201,250 square feet. All three buildings will include 18- or 24-foot clear heights, rear-loading docks, drive-in capabilities, 30- and 40-foot column spacing and surface parking. Two buildings will share a 150-foot truck court, while the third will feature a dedicated 110-foot truck court. At full build-out, RDU Business Park will comprise 13 single-story buildings spanning 790,527 square feet. Merritt Properties is handling the leasing assignment at the park internally.

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