North Carolina

Erwin Square Plaza Durham Duke University

Federal Capital Partners Signs Duke University to 188,000 SF Lease Renewal, Expansion in Durham

by John Nelson October 7, 2015

DURHAM, N.C. — Federal Capital Partners (FCP) has signed Duke University to a lease renewal and expansion totaling 188,000 square feet in Durham. Duke has extended its lease at Erwin Square Plaza, a Class A, 238,792-square-foot office tower located on Main Street in downtown Durham. Duke University and its affiliates currently lease a majority of the building. FCP’s property is also home to restaurants such as Parizade Café, Local 22 and Guasaca. Brad Corsmeier and John Brewer of CBRE|Raleigh represented FCP in the lease transaction. Austin Koon, Jeff Miller and Maggie Clougherty of Davis Moore Advisors represented Duke University.

October 7, 2015

Multifamily North Carolina Southeast

Dominion Realty Partners to Build Apartment Community in Uptown Charlotte

by John Nelson September 30, 2015

CHARLOTTE, N.C. — Dominion Realty Partners has closed on the $8.5 million purchase of a five-acre site on West Trade Street in Uptown Charlotte from Bank of America. The developer will soon begin construction at the site on 1010 West Trade, a 294-unit apartment community. The five-story apartment development will wrap around a parking deck and an interior amenity courtyard that will feature a saltwater pool, grilling stations with big-screen TVs, backyard sports lawn and gathering spaces. Other amenities will include a business center, cyber café, fitness center, clubroom and a demonstration kitchen. Chris Swart of Lincoln Harris represented the seller, and Beau McIntosh of Capstone Apartment Partners represented Dominion Realty Partners in the land purchase. Architectural firm Rule Joy Trammell & Rubio designed 1010 West Trade, and VCC is the general contractor overseeing construction of the project.

September 30, 2015

Loans Multifamily North Carolina Southeast

Capstone Capital Closes $10M Refinancing of Apartment Community in North Carolina

by John Nelson September 29, 2015

GREENVILLE, N.C. — Capstone Capital has closed the $10 million CMBS refinancing of Trafalgar Square Apartments. Built in two phases in 2001, the 192-unit apartment property is located at 2477 County Home Road in Greenville. The previous owner had $7.7 million in existing debt on the transaction. Jackson Howard of Capstone Capital arranged the 10-year loan with a fixed interest rate below 4.75 percent with three years of interest-only payments followed by a 30-year amortization schedule. The CMBS loan is the sixth loan that Capstone Capital financed on behalf of the undisclosed borrower.

September 29, 2015

Loans North Carolina Southeast Student Housing

CBRE Arranges $75M Financing for Student Apartments Near NC State

by John Nelson September 25, 2015

RALEIGH, N.C. — CBRE Capital Markets’ debt and structured finance team has arranged a $75 million loan for the Stanhope Student Apartments, a five-story, 300-unit, 822-bed, mixed-use student housing facility located adjacent to North Carolina State University’s main campus in Raleigh. A joint venture led by managing partner Kane Realty Corp. developed the project. The property features 9-foot ceilings, a saltwater pool, two-story health club, cyber-lounge, art studio, tanning beds, two-story game room and ground-floor retail space. Deck parking is provided for tenants on the same floor as their unit. Apartments contain a full washer/dryer, en-suite full bathrooms in each bedroom, granite kitchen counters, large-screen TVs and wood floors. Mark Fisher and Alex Furnary of CBRE’s midtown Manhattan office, along with David Meese and Tom Kobus of CBRE’s Pittsburgh office, facilitated the financing on behalf of the borrower. The CBRE team secured a 20-year, fixed-rate, non-recourse loan from one of its correspondent lenders, AIG Investments. The loan was committed without any tenants in occupancy and closed with retail space still to-be-leased (half of the retail space is leased to CVS).

September 25, 2015

Industrial North Carolina Southeast

Beacon Partners to Break Ground on Industrial Facility in Metro Charlotte

by John Nelson September 24, 2015

CONCORD, N.C. — Beacon Partners will soon begin construction on a 143,670-square-foot industrial facility within RiverOaks Corporate Center, a 1.4 million-square-foot industrial park located in Concord, roughly 24 miles north of Charlotte. The new facility will be located one mile east of I-85, five miles north of I-485 and near Concord Regional Airport. Matt Greer and John Cashion of JLL represented an undisclosed tenant in a 73,667-square-foot pre-lease at the facility. The tenant plans to move into the building in spring 2016. The design team for the new facility includes general contractor Choate Construction, architect Merriman Schmitt and civil engineer ColeJenest & Stone.

September 24, 2015

Hospitality North Carolina Southeast

Sperry Van Ness Enters Hotel Brokerage Business

by John Nelson September 24, 2015

RALEIGH, N.C. — Sperry Van Ness International Corp. has joined forces with Raleigh, N.C.-based Howard Perry and Walston Commercial and Hotel Group (HPW Commercial and Hotel Group) to launch SVN Hotels, a national hotel brokerage franchise. Headquartered in Raleigh, the franchise will work with more than 25 advisors in more than 10 offices throughout the United States. SVN Hotels will specialize in working with owners and investors of all sizes from large institutions with multiple properties to private owners with single assets. Sanjay Mundra, who currently serves as CEO of HPW Commercial and Hotel Group, will serve as CEO of the SVN Hotels brand with Don Walston as chairman.

September 24, 2015

Hospitality Loans North Carolina Southeast

KeyBank Arranges $14.3M CMBS Loan for Hotel in North Carolina

by John Nelson September 23, 2015

GREENVILLE, N.C. — KeyBank Real Estate Capital has arranged a $14.3 million CMBS loan for The Hilton Greenville, a 141-room hotel located at 207 Greenville Blvd. S.W. in Greenville. The hotel is situated on the 32-acre Greenville Convention Center campus and is within two miles of East Carolina University. Scott Bois of KeyBank’s commercial mortgage group arranged the non-recourse loan on behalf of the undisclosed borrower.

September 23, 2015

Loans North Carolina Retail Southeast

NorthMarq Arranges $3.7M Acquisition Loan for Retail Center in North Carolina

by John Nelson September 23, 2015

KING, N.C. — NorthMarq Capital has arranged a $3.7 million acquisition loan for Colony Center, an 84,069-square-foot retail property located at 705-745 S. Main St. in King. Colony Center’s tenant roster includes Food Lion, Family Dollar and Badcock Furniture. David Vinson of NorthMarq’s Raleigh office arranged the loan through an unnamed life insurance company on behalf of the borrower.

September 23, 2015

Industrial North Carolina Southeast

Monmouth Sells 160,000 SF Industrial Facility to Tenant for $9M

by John Nelson September 21, 2015

MONROE, N.C. — Monmouth Real Estate Investment Corp., a publicly traded equity REIT specializing in net-leased industrial properties, has sold its 160,000-square-foot industrial building in Monroe to its tenant for $9 million. The tenant, Charlotte Pipe and Foundry Co., is a plumbing systems manufacturer based in Charlotte. Monmouth’s portfolio now spans 13.8 million square feet of single-tenant, net leased industrial assets with a current occupancy rate of 97.6 percent.

September 21, 2015

Market Reports North Carolina Retail Southeast Southeast Market Reports

Food Fight Among New, Established Grocers Highlights Charlotte’s Retail Activity

by John Nelson September 14, 2015

As Charlotte’s job growth has returned, so has traffic into Uptown during rush hour, a new apartment project on every corner, healthy single-family demand and a food fight. Currently there is an all-out war for grocery market share between behemoths Harris Teeter, Publix and Walmart Neighborhood Market, all adding stores at a record rate, while Whole Foods Market continues to expand within the market on a measured basis. Newcomers Sprouts Farmers Market and Lidl, a German-based supermarket grocer offering discount items, are set to make market entries between 2016 to 2018, with Food Lion planning to refurbish a number of their stores in the market. Pappas Properties has begun construction on a Harris Teeter at Berewick and Raley Miller in a joint venture with Levine Properties, and has filed a rezoning petition to add another Harris Teeter at the corner of Fairview and Providence. Harris Teeter has recently added a store in Cornelius, as has Publix. Publix has recently opened a new store in the booming South End submarket located along the transit line on South Boulevard and has won zoning approval for a store to be constructed at Cotswold. A grocer is also rumored to be scouting a redevelopment …

September 14, 2015

Newer Posts

Older Posts