DENVER, N.C. — Baum Realty Group has arranged the $7.6 million sale of a single-tenant net-leased Walgreens located in Denver, roughly 26 miles north of Charlotte. Patrick Forkin and Brad Teitelbaum of Baum Realty represented the buyer, a private international investor, in the transaction. The seller was a private East Coast developer. Walgreens has a 20-year lease at the store, with rental increases every 10 years.
DURHAM, N.C. — Lincoln Harris has arranged two retail leases that will kick off new construction at Phase II of Patterson Place, a mixed-use property located at 5324 McFarland Drive in Durham. Kaler Walker and John Mikels of Lincoln Harris’ Raleigh office represented the landlord, BP Phase2 LLC, in both transactions. The deals included Blaze Pizza signing a 2,650-square-foot lease and Phenix Salon Suites signing a 3,842-square-foot lease. Additionally, Laboratory Corp. of America has signed a 1,545-square-foot lease at an existing medical office building in the development. Existing tenants include Moe’s Southwest Grill, Applebee’s, AT&T, Five Guys Burgers and Fries and Duke Medicine.
RALEIGH, N.C. — Heritage Properties Inc. plans to develop Legacy at Brier Creek, a 121,000-square-foot, Class A office building in Raleigh. The development will be situated at the corner of TW Alexander and Brier Creek Parkway. The office building’s amenities will include a tenant lounge on the first floor with a coffee bar and Wi-Fi, fitness center and yoga studio, locker rooms with showers and an outdoor terrace with seating and grills. The building is designed with 15-foot floor-to-ceiling heights on each floor, allowing tenants the option of having an exposed 15-foot ceiling or a traditional 10-foot drop ceiling. The property features land for the development of an additional 45,000 square feet of office space. Heritage Properties has selected Colliers International to lease the project.
CHAPEL HILL, N.C. — CBRE | Raleigh has arranged a 90,577-square-foot office lease at Carolina Square, a mixed-use development under construction in downtown Chapel Hill. Brad Corsmeier, Lee Clyburn, Charlie Coyne and Christina Coffey of CBRE | Raleigh represented the landlords, Northwood Ravin and Cousins Properties, in the lease deal. The new tenant is UNC Chapel Hill POP Center, a consortium of population research professionals and scholars sponsored by the University of North Carolina at Chapel Hill.
DURHAM, N.C. — CBRE has brokered the sale of Level 51 Ten Apartments, a 242-unit apartment community located at 5110 Old Chapel Hill Road in Durham. Built in 2003 as student purpose-built apartments, the complex features one-, two- and three-bedroom units. The undisclosed buyer plans to invest capital to improve the property’s unit interiors, amenities and operations. Phil Brosseau, Kevin Kempf, Jeff Glenn and Jaclyn Fitts of CBRE represented the seller, Chicago-based Blue Vista Capital Management LLC, in the transaction.
CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has brokered six sales of apartment communities in North Carolina’s Triad Region totaling $37.1 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in all six transactions. The transactions included WB Ventures purchasing the 204-unit The Morehead in Greensboro from Midway Investors for $11.2 million; QR Capital purchasing the 120-unit Battleground Oaks in Greensboro from Carlisle Residential for $6.7 million; Harvest Investments purchasing the 140-unit The Colony in Burlington from Titan Capital for $6.3 million; Tallahassee Apartments LLC purchasing the 160-unit Ridgewood in Greensboro for $5.4 million; a private individual purchased the 108-unit, 324-bed Collegiate Commons in Greensboro for $4.2 million; and Engineering Partners purchased the 80-unit The Hedges from The Hedges of Greensboro LLC for $3.3 million.
RALEIGH, N.C. — Lincoln Harris has brokered the $7.5 million sale of Cypress and Cedar East, two office buildings in Raleigh totaling 79,186 square feet. The properties are located at 3117 and 3101 Poplarwood Court and were 73 percent leased at the time of sale. Kaler Walker of Lincoln Harris represented the seller, Cedar East & Cypress LLC, in the transaction. Carter Worthy of Worthy Commercial represented the buyer, Debnam Properties, which owns two other buildings in the neighborhood. The buyer plans to occupy a portion of the buildings and continue leasing the rest.
CHARLOTTE, N.C. — HFF has closed the $6.7 million sale of and arranged acquisition financing for One University Place in Charlotte’s University Place mixed-use development. The four-story, 80,891-square-foot office building is located at 8801 JM Keynes Drive within 1.5 miles of I-85. Originally built in 1986, One University Place is 66 percent leased to a mix of healthcare, technology, consulting and business services tenants. The largest tenants at the property are Bayada Home Health Care and University Radio. Origin Capital Partners purchased the asset free and clear of debt. Ryan Clutter led the HFF investment sales team in representing the seller, Financial Enterprises III, in the transaction. Travis Anderson and Cory Fowler led HFF’s debt placement team in placing acquisition financing through First Tennessee Bank on behalf of Origin Capital Partners.
WAYNESVILLE, N.C. — Yale Realty Services Corp. has purchased Waynesville Commons, a 126,901-square-foot shopping center in Waynesville, roughly 30 miles west of Asheville. Yale Realty purchased the center from CBL & Associates Properties Inc. for $14.5 million. Built in 2012, the shopping center’s tenant roster includes Belk, Michaels, PetSmart, Rack Room Shoes, SuperClips and US Cellular. Waynesville Commons is shadow-anchored by a 188,494-square-foot Walmart Supercenter. Alex Quarrier and Marc Ozburn of Berkeley Capital Advisors represented the seller in the transaction.
CORNELIUS, N.C. — Capstone Apartment Partners has brokered the $5.2 million sale of a multifamily development site in Cornelius. The site is approved for a 320-unit development. Located at Catawba Avenue and Lawn Market Street, the site was part of Antiquity, a mixed-use community featuring a Harris Teeter store, seniors housing, retail, restaurants and single-family homes. The development site features a swimming pool, 30-acre park, arboretum and athletic fields. Antiquity LLC sold the site to SAG/LIV Development for $16,250 per unit. Austin Green, Alex McDermott, Andrew Klenk and Brian Ford of Capstone brokered the transaction.
