North Carolina

Bank of America Renews 194,000 SF Office Lease in Charlotte

by John Nelson January 30, 2017

CHARLOTTE, N.C. — Bank of America has renewed its 194,000-square-foot office lease at 525 North Tryon, a 19-story office building in Uptown Charlotte. Charles Jonas and Meredith Ball of Foundry Commercial represented the building’s owners, Grubb Properties and New York Life, in the lease deal. JLL represented Bank of America, according to Charlotte Business Journal. Grubb Properties and New York Life have enhanced existing amenities at 525 North Tryon and added new ones, including a fitness center known as Club 525, bike storage room, free electric car shuttle, conferencing center and an electric car charging station. The owners are also in the final stages of securing LEED Silver certification at the building, which has already earned the EPA’s Energy Star designation.

January 30, 2017

Multifamily North Carolina Southeast

Pollack Shores to Develop Apartment Community in Charlotte’s South End

by John Nelson January 27, 2017

CHARLOTTE, N.C. — Pollack Shores Real Estate Group plans to develop a 350-unit apartment community at 327 and 349 Tremont Ave. in Charlotte’s South End district. Design is currently underway on the project, which is located within walking distance of Atherton Mill. The residential units will feature stone countertops and stainless steel appliances, and the community amenities will include a pool courtyard, clubroom, sky lounge, two courtyards with outdoor kitchen amenities and a dog park. The community will also feature 2,500 square feet of street-level retail space and “Live Work Units” fronting Tremont Avenue. Pollack Shores expects to deliver the unnamed project in late 2018.

January 27, 2017

Industrial North Carolina Southeast

Trinity Capital Buys Two Industrial Assets Totaling 404,351 SF in Charlotte

by John Nelson January 24, 2017

CHARLOTTE, N.C. — Trinity Capital Advisors has purchased 1001 Bond St., a two-building industrial property totaling 404,351 square feet in Charlotte’s Northwest industrial submarket. Trinity Capital acquired the property in a joint venture with SilverCap Partners for an undisclosed price. Both buildings are fully leased to Camber Ridge, a tire characterization research and development company. The properties are situated off of I-85 and feature direct access to I-485, I-77 and Charlotte Douglas International Airport via NC Highway 16.

January 24, 2017

Industrial North Carolina Southeast

Reger Holdings Acquires 222,596 SF Industrial Property in Charlotte

by John Nelson January 20, 2017

CHARLOTTE, N.C. — Reger Holdings has purchased a 222,596-square-foot industrial building located at 1000 Exchange St. in Charlotte. The western New York-based investment firm plans to convert the freezer/cooler building into a dry warehouse property. The building is rail-served by CSX and features outdoor storage capabilities. Rob Speir and Don Moss of Colliers International’s Charlotte office brokered the transaction and will be retained as the property’s leasing agents. Reger Holdings owns more than 4 million square feet of industrial real estate space in the Carolinas. The sale price and seller were not released.

January 20, 2017

Mixed-Use North Carolina Southeast

Beacon Partners to Develop 320,000 SF Mixed-Use Project in Charlotte’s South End

by John Nelson January 17, 2017

CHARLOTTE, N.C. — Beacon Partners has unveiled its plans for a 3.5-acre block, situated at South Tryon and Bland streets in Charlotte’s South End, that the firm is currently redeveloping. The new development will feature two eight-story buildings spanning 320,000 square feet. Named the RailYard, the project will feature office space, 30,000 square feet of retail and restaurants and 100 residential units. The site sits one block from the LYNX Bland Street Station and at the head of the Rail Trail, a 3.5-mile trail along the LYNX Blue Line. The RailYard’s buildings will feature a brick exterior, masonry, ornamental steel and glass, double-door arched entryways and open floor plates offering views of Uptown and South End. The development will include a one-acre rooftop park and an outdoor courtyard between the two buildings. The design team includes RBA Group and David Furman of Centro Cityworks. Kristy Venning and Charlie Swanson of Beacon Partners are handling the leasing. Construction on RailYard is scheduled to begin this summer.

January 17, 2017

Mixed-Use North Carolina Southeast

CBRE | Raleigh Arranges $20.3M Sale of Mixed-Use Property in Raleigh

by John Nelson January 17, 2017

RALEIGH, N.C. — CBRE | Raleigh has arranged the $20.3 million sale of Marketplace at Lake Boone, a mixed-use property located at the intersection of Lake Boone Trail and Gateway Access Point in Raleigh. Griffin Partners purchased the property from Singerman Real Estate. Marketplace at Lake Boone features 76,253 square feet of street-level retail space and second-story office space. According to Griffin Partners, the property was fully leased at the time of sale to tenants such as Ashton Woods, AT Allen Co., Sirius Computer Solutions, Greystone, Saracare, Buffalo Brothers, Guasaca, Bottle Revolution, Traditions Bridal and The Oaks. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh represented Singerman Real Estate in the transaction.

January 17, 2017

North Carolina Office Southeast

Dilweg Acquires Two-Building Office Complex in Metro Raleigh for $61M

by John Nelson January 11, 2017

CARY, N.C. — The Dilweg Cos. has purchased Regency Lakeview, a two-building, 376,131-square-foot office complex in Cary, a suburb of Raleigh. Boston-based Intercontinental Real Estate Corp. sold the property to Durham, N.C.-based Dilweg for $61 million. The two five-story, Class A buildings were built in 1985 and 1998 and were fully leased at the time of sale to tenants such as Dude Solutions, HCL, Global Knowledge and Black & Veatch. Dilweg plans to invest roughly $4 million to upgrade Regency Lakeview’s operating systems, parking, common areas and tenant amenities. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh, along with Patrick Gildea, Matt Smith and Leslie Wooten of CBRE Inc., represented Intercontinental in the transaction.

January 11, 2017

North Carolina Retail Southeast

SRS Real Estate Partners Brokers $8.4M Sale of Shopping Center in Charlotte

by John Nelson January 11, 2017

CHARLOTTE, N.C. — SRS Real Estate Partners’ Atlanta office has brokered the $8.4 million sale of Pineville Towne Market, a 83,526-square-foot shopping center located at 321 S. Polk St. in Charlotte. Situated on 8.7 acres at the intersection of Main and South Polk streets, the shopping center is anchored by Food Lion. F and L Meadow Creek LLC, a 1031 exchange buyer, purchased the property from LARC Asset Management and Realty Inc. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, while Adam Russ of Berkeley Capital Advisors represented the buyer in the transaction.

January 11, 2017

Multifamily North Carolina South Carolina Southeast

Greystone Arranges $33M Sale of Two Brookdale Senior Communities in the Carolinas

by John Nelson January 6, 2017

HENDERSONVILLE, N.C. AND SPARTANBURG, S.C. — Greystone Real Estate Advisors has closed the sale of Brookdale Hendersonville in North Carolina and Brookdale Skylyn in South Carolina. A private equity group purchased both properties from Brookdale Senior Living Inc., the largest owner and operator of seniors housing communities in the United States, for $33 million. Brookdale Hendersonville, located in the Asheville suburb of Hendersonville, offers independent living cottages, an independent living clubhouse, an administrative office building and a separate memory care building. Built in 1985 and 1993, the community sits on a total of 21.4 acres of land. Brookdale Skylyn, located in Spartanburg, is an independent living, assisted living, memory care and skilled nursing community. The property consists of two senior living buildings and one skilled nursing building. Built in 1986, the community sits on 17.6 acres of land. Mike Garbers and Cody Tremper of Greystone represented Brookdale Senior Living in the transaction.

January 6, 2017

Florida Multifamily North Carolina Southeast

ARA Newmark Arranges $127M Sale of Multifamily Portfolio in Florida, North Carolina

by John Nelson January 4, 2017

TAMPA, FLA. — ARA Newmark has brokered the $127 million sale of a four-property, 1,153-unit multifamily portfolio in Florida and North Carolina. The properties include the 298-unit ARIUM Bala Sands in Orlando, the 247-unit ARIUM Citrus Park and the 368-unit ARIUM Bay Pointe, both in Tampa, and the 240-unit ARIUM Pineville in Charlotte. The seller, The Carroll Organization, has implemented interior renovations on select units in all four properties. Patrick Dufour, Kevin Judd, John Heimburger, Scott Ramey, Jason Kon, Dick Donnellan, Marc deBaptiste, Dean Smith and Blake Okland of ARA Newmark represented Carroll in the transaction, which was completed in three phases.

January 4, 2017

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