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.
GREENVILLE, N.C. — Publix Super Markets has signed a 49,000-square-foot lease at Greenville Square, a 150,000-square-foot shopping center in Greenville. Publix will replace a former K Mart upon opening in 2017. Brodyco, the owner of Greenville Square since 2005, is redeveloping the shopping center with a new façade, parking lot, lighting and landscaping to make room for Publix, as well as several new national, regional and local retailers. Publix currently has more than 1,100 stores, 11 of which are in North Carolina.
CHARLOTTE, N.C. — The Dilweg Cos. has sold One and Two SouthPark Center in Charlotte’s SouthPark office submarket for $46.5 million. The buyer is CCP Commercial Real Estate, a private real estate investment firm based in Virginia Beach, Va. Dilweg purchased the properties in 2013 for $33.5 million. Built in 1973 and renovated in 2008, One SouthPark Center is located at 6060 Piedmont Row Drive S. The 10-story, 147,000-square-foot office building was 96 percent leased at the time of sale. Built in 1980 and renovated in 1992 and 2009, the five-story, 95,000-square-foot Two SouthPark Center was 95 percent leased at the time of sale.
The Charlotte MSA continues to experience a high level of retail activity as we go into the last quarter of 2015. With a regional inventory of 62 million square feet of retail space, the MSA has seen more than 8 million square feet of new development proposed. Vacancy rates are holding steady in the 8 to 9 percent range, and average rents have remained stable. Grocers Setting the Pace Retail development activity in the Charlotte area remains driven by grocery store expansion. Publix has opened units in Ballantyne, Matthews, Southeast Charlotte and, most recently, South End, with several new stores approved and in various stages of development. Some of the Publix activity has resulted from conversions of units it acquired from Bi-Lo, while the Ballantyne, Fort Mill and South End stores were new construction projects. Publix will open five more stores in the market in the coming year, bringing its MSA store count to 16. This will include Publix’s first stores in the Cabarrus County and Gaston County markets. Perennial market leader Harris Teeter remains the dominant traditional grocer in Charlotte with a 20 percent market share, which places it, Walmart and Food Lion in close proximity. Harris Teeter, which …
CLEMMONS, N.C. — Hankins Properties plans to develop Clemmons Town Center, a 246,000-square-foot mixed-use development in Clemmons, a suburb of Winston-Salem. The project will feature retail and restaurants in a Main Street layout, a 139-room hotel, office space, surface parking lot and a two-tiered parking deck. The project will anchor the 340-acre Village Point project, which features a 312-unit apartment community, Novant’s $100 million hospital complex, Morgan Elementary School, WFBMC Medical Plaza and a Publix-anchored shopping center known as Peace Haven Village. Lewisville, N.C.-based Gillon Design is the project’s architect. Winston-Salem-based Meridian Realty Group brokered the sale of the 20-acre site between Hankins and the seller, Village Pointe LLC. Hankins has retained Meridian Realty to lease and manage the project, which is slated to break ground later this summer.