CHAPEL HILL, N.C. — Unison Realty Partners has purchased Chatham Crossing, a 96,155-square-foot neighborhood shopping center in Chapel Hill. The property was 90 percent leased at the time of sale to tenants such as Lowes Foods and CVS/pharmacy. Unison Realty’s plans for the property include stabilizing existing tenants, updating the façade of the building and leasing up the shopping center’s remaining vacancies. Berkeley Capital Advisors brokered the acquisition. Chatham Crossing is Unison Realty’s first acquisition in North Carolina.
WILMINGTON, N.C. — Dallas-based Revere Capital has provided $4.8 million in financing for a new industrial cold storage facility that will be situated on land owned by the state of North Carolina at the Port of Wilmington. Construction is underway on the 101,000-square-foot project, which is the newest cold storage facility in the area and is the first phase of a potential two-phase warehouse operation. The Port of Wilmington is a full-service deep-water port and marine terminal handling more than 400 vessels annually with an annual import/export cargo tonnage of more than 3 million tons. Owned and operated by the North Carolina State Ports Authority, the port offers facilities serving container, bulk and break-bulk operations and is 26 miles from the open sea on the Cape Fear River. CSX Transportation provides direct rail access to the port, which is one of only two ports in North Carolina.
DURHAM, N.C. — Bell Partners has purchased 605 West, a 340-unit apartment community located near Duke University in Durham, for $54.6 million. The property, which Bell Partners has renamed Bell West End, is walkable to Brightleaf Square, the Warehouse District, Central Park and City Center. Built in 2014, the property features studio, one- and two-bedroom residences with 9- to 10-foot ceilings, track LED lighting, ceiling fans, granite countertops, kitchen islands, breakfast bars, Energy Star stainless steel appliances, washers and dryers, patios/balconies, coat closets, linen closets, walk-in closets and bike storage. Community amenities include a clubhouse, fitness center, yoga studio, conference rooms and meeting nooks, pet park, heated saltwater pool with large screen TVs, outdoor kitchen and lounge area and an outdoor terrace with a fireplace. The purchase of Bell West End is the third multifamily acquisition for Bell Partners in 2016 and is the 19th apartment community in the company’s Raleigh/Durham portfolio.
Pierce Education Properties Acquires Student Housing Property Near East Carolina University for $42M
GREENVILLE, N.C. — Pierce Education Properties LP has acquired The Landing, an 888-bed student housing property located near the East Carolina University campus in Greenville, for $42 million. The 288-unit community offers fully furnished two-, three- and four-bedroom apartments with bed to bath parity, stainless steel appliances and washers and dryers. Community amenities include three resort-style pools, a 24-hour, fitness center, an outdoor basketball court, upgraded game room and high-speed Internet. The community is served by a dedicated university-operated shuttle service.
CONCORD, N.C. — Colliers International has brokered the $10.5 million sale of a 135,197-square-foot, freestanding Lowe’s Home Improvement store located at 940 Concord Parkway in Concord, a northern suburb of Charlotte. Built in 1999, the property currently has three-and-a-half years remaining on its 20-year lease. Jon Busse of Colliers International’s San Diego region and Greg Copps of the firm’s Charlotte office represented the seller, Carolina Emerald LLC, in the transaction. Brad Grow of Colliers International’s Charlotte office represented the buyer, Tailwind Charlotte Retail LLC, a private investment group based in Dallas.
CONCORD, N.C. — Multi Housing Advisors (MHA) has brokered the $47 million sale of Afton Ridge, a 360-unit apartment community located in Concord, a northern suburb of Charlotte. Built in 2014 and 2015, the complex features a resort-style swimming pool, fitness center, stainless steel appliances and granite countertops. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Afton Ridge Apartments, in the transaction. The buyer was undisclosed.
CHARLOTTE, N.C. — Crosland Southeast and Childress Klein have signed Horizon Eye Care to an 8,300-square-foot lease at Waverly, a 90-acre master-planned development in Charlotte. The eye care provider will occupy space in a 22,000-square-foot medical office building located at 11835 Southmore Drive near the intersection of Providence Road and Providence Country Club Drive. The property will be located next to Novant Health’s urgent care and family healthcare practices. Construction began in February on new the medical office building. Travis Hart and Jenny Fowler of Childress Klein represented the ownership group in the lease transaction.
WINSTON-SALEM, N.C. — Signet Development, in partnership with Kelley Properties Inc., will begin construction on Deacon Place, a 328-bed student housing community adjacent to Wake Forest University in Winston-Salem. The property, located at the intersection of Long Road and University Drive near the north entrance to campus, will comprise 82 units. Construction is expected to begin in late spring, with completion expected for the fall 2017 school year.
CHARLOTTE, N.C. — Charlotte-based Childress Klein and Vienna, Va.-based Cambridge Healthcare Solutions LLC have completed the construction of the largest Department of Veterans Affairs (VA) Health Care Center in the United States. The $150 million, 429,000-square-foot property is situated on a 35-acre lot at the intersection of Tyvola Road and Cascade Pointe Blvd. in Charlotte. The developers plan to hold the asset long-term and will remain as the property’s asset managers throughout the VA’s 20-year lease. The Charlotte VA Health Care Center will provide primary care and specialty services for up to an estimated 35,000 veterans enrolled in the VA healthcare system. Departments operating out of the clinic will include cardiology, audiology and speech, mental health, radiology, infectious disease, women’s health, ophthalmology and optometry, dental, gastroenterology, oncology follow-up and physical medicine and rehab, as well as four full operating rooms.
NEWTOWN, N.C. — Binswanger has brokered the sale of a 439,500-square-foot industrial facility in Newtown. The property is located on a 94.8-acre parcel at 1545 St. James Church Road. Snider Tire Inc., a commercial tire dealer and retreader, purchased the asset for an undisclosed amount. Doug Faris of Binswanger’s Charlotte office brokered the transaction.