North Carolina

Eller Capital Purchases Apartment Community in Winston-Salem for $16.4M

by John Nelson May 30, 2019

WINSTON-SALEM, N.C. — Eller Capital Partners has purchased Ashton Oaks, a 288-unit apartment community in Winston-Salem, for $16.4 million. The seller was not disclosed. Built in 1988, the property offers one- and two-bedroom layouts and is situated within one mile of Wake Forest University’s campus. Chapel Hill, N.C.-based Eller Capital plans to renovate Ashton Oak’s exteriors, build new amenities and upgrade the interior finishes. Affiliate firm Eller Residential Living will manage the property and oversee the construction project.

May 30, 2019

Acquisitions Multifamily North Carolina Southeast

FCP, High Real Estate Sell Apartment Community in Charlotte for $31.7M

by Alex Tostado May 28, 2019

CHARLOTTE, N.C. — FCP and High Real Estate Group have sold York Ridge, a 240-unit apartment community in Charlotte. New York-based White Eagle Property Group bought the property for $31.7 million. York Ridge is situated in southwest Charlotte and offers one-, two- and three-bedroom floor plans. Communal amenities include a car care center, fitness center, swimming pool, playground, tennis court, clubhouse and grilling areas. Marc Robinson, Jordan McCarley and Brooks Colquitt of Cushman & Wakefield represented the sellers in the transaction.

May 28, 2019

Acquisitions Multifamily North Carolina Southeast

Carlisle Residential Sells Apartment Complex in Greensboro for $33.9M

by Alex Tostado May 22, 2019

GREENSBORO, N.C. — Carlisle Residential Properties has sold Encore North Apartments, a 237-unit apartment complex in Greensboro, for $33.9 million. Denver-based Grimley Residential acquired the property, which was 95 percent occupied at the time of sale. Encore North was built by Lomax Construction in 2016 and is situated five miles north of downtown Greensboro. Carter-Haston will handle leasing efforts on behalf of the buyer. Encore North offers one- and two-bedroom floor plans and communal amenities such as a saltwater swimming pool, resident lounge and a community game room.

May 22, 2019

Loans North Carolina Office Southeast

HFF Arranges $24.5M Acquisition Loan for Office Property in Charlotte’s SouthPark District

by Alex Tostado May 22, 2019

CHARLOTTE, N.C. — HFF has arranged a $24.5 million acquisition loan for Rexford Park I and II, two office buildings in Charlotte totaling 136,812 square feet. The borrower, a partnership between Childress Klein and Gottesman Real Estate Partners, will use the funds to acquire, renovate and re-lease the buildings. Cory Fowler of HFF represented the borrower to secure the six-year, floating-rate loan through Atlantic Union Bank. Planned renovations include new interior common spaces, major improvements to the exterior façade and significant upgrades to building systems. Rexford Park I and II are located at 2100 and 2115 Rexford Road within Charlotte’s SouthPark submarket.

May 22, 2019

Industrial Loans North Carolina South Carolina Southeast

KeyBank Provides $40M Acquisition Loan for Industrial Portfolio in Carolinas

by Alex Tostado May 20, 2019

CHARLOTTE, N.C. — KeyBank has provided a $40 million acquisition loan to Weston Inc. for the purchase of an industrial portfolio in North and South Carolina. Details on the individual facilities were not disclosed, but the portfolio spans five buildings, 1.5 million square feet, and is located in the Charlotte, Raleigh-Durham, Greenville and Augusta industrial markets. Weston is a privately owned company based in Cleveland that owns more than 13 million square feet of industrial space nationwide.

May 20, 2019

Acquisitions Healthcare North Carolina Southeast

Flagship Healthcare Purchases 121,741 SF Medical Office Building Portfolio in Metro Charlotte

by Alex Tostado May 13, 2019

CHARLOTTE, N.C. — Flagship Healthcare Properties has acquired a 121,741-square-foot portfolio featuring six medical office buildings (MOBs) in metro Charlotte. Three of the MOBs are located in Concord, with the remaining three in Kannapolis, China Grove and Locust. The portfolio was 91 percent leased at the time of sale. Cabarrus Family Medicine, part of Atrium Health, occupies 75 percent of the portfolio’s total square footage. Flagship will provide property and asset management services, as well as accounting and lease administration for the buildings. Cliff Berryman internally represented the buyer. CFM Medical Properties LLC sold the portfolio. First National Bank provided financing for the transaction. The sales price was not disclosed.

May 13, 2019

Development North Carolina Office Southeast

Northwood Office Breaks Ground on 328,000 SF Office Building in Charlotte’s Ballantyne District

by Alex Tostado May 10, 2019

CHARLOTTE, N.C. — Northwood Office has broken ground on an 11-story, 328,000-square-foot office building located at 13146 Ballantyne Corporate Place in Charlotte’s Ballantyne district. The building will offer a 2,500-square-foot fitness center, 10 stories of office space with the top floor featuring a rooftop terrace with tables, seating, a fire pit, audio/visual and provisions for outdoor food and beverage service. Northwood Office also plans to add an apartment tower in collaboration with its affiliate firm Northwood Ravin. The office portion is expected to deliver in early 2021. Ballantyne Corporate Park is a 535-acre master-planned business park that Northwood Investors acquired from The Bissell Cos. Inc. in March 2017 for $1 billion. The new building will join an existing 4 million square feet of office space and 600 hotel rooms within the business park. This is the first new office tower to be built under Northwood’s ownership. Northwood Development will manage the office project, working with architectural firm LS3P Associates and general contractor Rodgers Builders.

May 10, 2019

Leasing Activity North Carolina Office Southeast

Law Firm to Occupy 86,000 SF of Office Space Within Legacy Union in Charlotte

by Alex Tostado May 10, 2019

CHARLOTTE, N.C. — Charlotte-based Parker Poe will occupy 86,000 square feet of office space across three floors at 620 S. Tryon, the first phase of Legacy Union in Charlotte. Parker Poe is expected to move into the space in mid-2020 and have signage on the 33-story, 850,000-square-foot building. Amenities at 620 S. Tryon will include an indoor/outdoor entry plaza for gatherings, fitness center and a walkable promenade lined with restaurants and retailers. A pedestrian bridge above Church Street will provide tenants with direct access to the building. Lincoln Harris is developing Legacy Union, which spans two city blocks and will feature offices, retail shops, restaurants, hotels, residences, a parking garage, public green space and a pedestrian promenade. Ridr Knowlton and Campbell Walker internally represented the developer in the lease transaction. Taylor Senter of Newmark Knight Frank (NKF) represented the tenant.

May 10, 2019

Development Mixed-Use North Carolina Southeast

Joint Venture to Break Ground on 2.5 MSF Mixed-Use Project in Raleigh-Durham, Announces First Wave of Tenants

by Alex Tostado May 9, 2019

CARY, N.C. — A joint venture between Hines, Columbia Development Group LLC and USAA Real Estate will break ground on Phase I of Fenton, a 69-acre, 2.5 million-square-foot mixed-use development in Cary, this summer. The first phase will include a 99,000-square-foot Wegmans grocery store; 263,000 square feet of specialty retail, including a movie theater and food hall; a 146,000-square-foot office loft; 350 apartment units; and a 175-room hotel. Additionally, the first retail tenants have been announced. These include Crawford Brothers Steakhouse, a new concept from five-time James Beard Award semifinalist Scott Crawford; Superica Tex-Mex by nationally renowned restaurateur Ford Fry; and Honeysuckle Gelato. Fenton will be situated along Cary Towne Boulevard near Interstate 40, adjacent to WakeMed Soccer Park and eight miles southwest of downtown Raleigh. Phase I is expected to open in fall 2021.

May 9, 2019

Acquisitions Industrial North Carolina Southeast

CBRE|Raleigh Brokers $14.3M Sale of Eastgate 540 Industrial Park in North Carolina

by Alex Tostado May 8, 2019

KNIGHTDALE, N.C. — CBRE|Raleigh has arranged the $14.3 million sale of Eastgate 540, a 30-acre industrial site in Knightdale. The property houses a 150,000-square-foot industrial building with room for an additional 150,000-square-foot building on the parcel. Francini Marble occupied a portion of the existing building at the time of the sale. Eastgate 540 is situated at the intersection of Hodge Road and Spectrum Drive, 10 miles east of downtown Raleigh. Chester F. Allen, Barry Bowling, Carlton Midyette III and Tiffany Hilburn of CBRE|Raleigh represented the buyer, Trinity Capital, in the transaction. Scannell Properties was the seller.

May 8, 2019

Newer Posts

Older Posts