CHARLOTTE, N.C. — Beacon Partners has begun construction on 500 East Morehead, a 180,000-square-foot office building on Morehead Street in Midtown Charlotte. The property will be located next door to the Dowd YMCA and adjacent to the Carson Boulevard light rail station, Southend Rail Trail, Little Sugar Creek Greenway and Latta Park. Upon completion, the asset will feature 15,000 square feet of retail space targeted for a coffee shop, lunch restaurant and an upscale restaurant. The property will also feature a 1,000-square-foot Sky Terrace, three private outdoor terraces, a lounge area with TVs, on-site fitness center, conference centers and an attached parking deck. Charlie Swanson and Kristy Venning of Beacon Partners are the leasing agents for 500 East Morehead. The design team includes architect BB+M and general contractor Balfour Beatty. Beacon Partners expects to deliver the asset in November 2016.
CHARLOTTE, N.C. — JLL has brokered the $46 million sale of Greylyn Business Park, a 648,156-square-foot office, retail and industrial park in Charlotte. The property’s tenant roster includes Active Screw & Fastener Co., Mirrormate, Charlotte-Mecklenburg Police Department, KNA Corp. and United Refrigeration Inc. Cleveland-based Weston Inc. purchased the asset from GID. Brad Cherry, Pete Pittroff and Spencer Yorke of JLL’s Charlotte office represented the seller in the transaction. Weston has retained Yorke and Natalie Marshall of JLL to lease the business park and Mimi Fisher and Jason Sierra of JLL to manage the property on-site.
CHARLOTTE, N.C. — Lincoln Harris’ Charlotte office has arranged two leases totaling 62,075 square feet at Capitol Towers – South Tower, a 236,250-square-foot, Class A office tower located at 4350 Congress St. in Charlotte. Campbell Walker of Lincoln Harris’ Charlotte office represented the landlord, Capitol Towers LLC, in both lease transactions. The deals included Sterling Capital Management LLC leasing 22,075 square feet and Dixon Hughes Goodman LLP leasing 40,000 square feet. Jim Thorp of JLL represented Sterling, and Barney Earles of CBRE represented Dixon Hughes Goodman.
RALEIGH AND DURHAM, N.C. — Charlotte-based Insite Properties has represented CNL Healthcare Properties in the acquisition of five single-tenant medical facilities in the Raleigh-Durham area. The portfolio includes the 58,189-square-foot North Carolina Specialty Hospital in Durham and four medical office buildings totaling 103,049 square feet. The 63,158-square-foot flagship facility and corporate headquarters for Triangle Orthopaedics Associates is the largest of the four medical office buildings. The five buildings were built between 2004 and 2011 and the current tenants have between 12 and 15 years remaining on their leases. Insite Properties will provide property management services for the portfolio. Sam DiFranco of Trinity Partners represented the seller in the transaction.
HIGH POINT, N.C. — Avison Young has arranged the $6.3 million sale of Eastchester Shopping Center, a 63,306-square-foot shopping center anchored by Office Depot in High Point. The center is located at 274 Eastchester Drive. AJ Belt III and David Duckworth of Avison Young’s Fort Lauderdale, Fla., office represented the seller, MS Eastchester LLC, in the transaction. Verris Capital purchased the property. Tenants of the center include Dollar Tree, Plato’s Closet, Hooters and Dunkin’ Donuts.
WILMINGTON, N.C. — KeyBank Real Estate Capital has arranged a total of $34.9 million in Freddie Mac financing for a four-property, 694-unit multifamily in Wilmington. The apartment properties include Hawthorne at New Centre, Hawthorne Centre North, Hawthorne Commons and Hawthorne Lofts South. Charles Williams and Jeffrey Hunkele of KeyBank’s commercial mortgage group arranged the loans, which were used to pay off existing KeyBank balance sheet loans.
ASHEVILLE, N.C. — NorthMarq Capital has secured a $20 million loan for Palisades Apartments, a 224-unit multifamily property located at 1100 Palisades Circle in Asheville. Bill Matone of NorthMarq’s Charlotte office arranged the fully amortizing, 20-year loan through an unnamed life insurance firm.
GREENSBORO AND HIGH POINTE, N.C. — HFF has secured financing totaling $49.8 million for a three-property apartment portfolio spanning 811 units in Greensboro and High Pointe. The properties include Steeplechase at Adam’s Farm located at 1338 Adams Farm Parkway in Greensboro; Park Forest located at 3214 Brassfield Road in Greensboro; and Deep River Pointe located at 3971 River Pointe Place in High Pointe. Each apartment community features swimming pools with sundecks, 24-hour fitness centers, business centers, tennis courts and walking trails. The portfolio’s average occupancy is 96 percent. Thomas Didio and Luke Vanderpoel of HFF arranged the 10-year, fixed-rate Freddie Mac loans on behalf of the borrower, Hudson Capital Properties.
CHARLOTTE, N.C. — Hilton Worldwide has opened Embassy Suites Charlotte/Ayrsley, a 170-room hotel located at 1917 Ayrsley Town Blvd. in southwest Charlotte. The six-story hotel is located within walking distance of shopping, dining and a movie theater, and is also 11 miles from Charlotte Douglas International Airport. The hotel features 13,000 square feet of meeting space, a Brickstones Grill dining venue, heated indoor pool, 24-hour fitness center, complimentary Wi-Fi and a 24-hour business center. Griffin Stafford Hospitality manages the new hotel.
DURHAM, N.C. — Crescent Communities has completed construction on Crescent Main Street, a 208-unit apartment community located on Main Street near Duke Medical Center in Durham. The community’s environmentally friendly amenities include bike storage for every unit, electric car charging stations, a Filtera Biofiltration system and Energy Star appliances, windows and “Cool Roof.” Other amenities include a health and wellness facility, pet spa, resort-style pool and outdoor spaces. Additionally, Crescent Communities has sold the community to affiliates of Berkshire Group for $54.7 million, according to the Charlotte Business Journal. The sale is part of the announced nine-property, $700 million portfolio that Crescent is selling to Berkshire and UBS Global Asset Management.