North Carolina

Westwood Financial Signs Publix as Anchor of Steele Creek Crossing in Charlotte

by John Nelson November 10, 2014

CHARLOTTE, N.C. — Westwood Financial Corp. has signed Publix to occupy a 47,000-square-foot footprint at Steele Creek Crossing, a 77,301-square-foot shopping center located at 12810 S. Tryon St. in Charlotte. The shopping center’s tenant roster includes Rite Aid, Five Guys Burgers and Fries, Little Caesars Pizza, Nationwide Insurance and H&R Block. Westwood Financial’s Steele Creek Crossing was fully leased following Publix’s lease. Steele Creek Crossing is one of seven former Bi-Lo locations that Publix has taken over in the Charlotte area.

November 10, 2014

Mixed-Use North Carolina Southeast

Pappas Properties Breaks Ground on $60M Harris Teeter-Anchored Center in Charlotte

by John Nelson November 7, 2014

CHARLOTTE, N.C. — Pappas Properties has commenced construction on Berewick Town Center, a Harris Teeter-anchored shopping center in Charlotte’s Steele Creek neighborhood. The asset will be located at the intersection of Dixie River Road, Steele Creek Road and Shopton Road West. The $60 million Phase I of Berewick Town Center includes a town center structure with a 53,000-square-foot Harris Teeter, Walgreens drug store, retail space, restaurants and a hotel. Pappas Properties plans to deliver Phase I in summer 2016. Phase II will feature medical office space, office space, multifamily residences and additional retail space. Shelco is the general contractor, and Shook Kelley and LandDesign are providing architecture and engineering services for the project. Brian Roth of Pappas Properties is handling outparcel sales and office space interest for Berewick Town Center, while Gwen Glaeser of CNL represents the development and its retail and shop space leasing needs.

November 7, 2014

North Carolina Southeast

Argus, Percival Partners Broker $22M Sale of Self Storage Portfolio in the Carolinas

by John Nelson November 7, 2014

CHARLOTTE, N.C. — Charlotte-based Percival Partners LLC and Argus Self Storage Sales Network (ASSSN) have brokered the $22 million sale of a five-property self storage portfolio in North and South Carolina. The portfolio totals 2,400 units and 350,000 square feet, with three assets located in North Carolina and two in South Carolina. Extra Space Self Storage manages all five assets. A national self storage REIT purchased the portfolio in an off-market transaction utilizing an acquisition loan provided by an unnamed CMBS lender. Joey Godbold of Percival Partners and Ben Vestal of ASSSN represented the unnamed seller in the transaction.

November 7, 2014

Loans North Carolina Southeast

NorthMarq Arranges $14M Acquisition Financing for Raleigh Apartment Community

by John Nelson November 5, 2014

RALEIGH, N.C. — NorthMarq Capital has arranged $14 million in acquisition financing for Crossroads North Hills Apartments, a 228-unit multifamily property in Raleigh. Brett Mason of NorthMarq Capital’s Raleigh office arranged the 12-year loan with three years of interest-only payments and a 30-year amortization schedule through the Fannie Mae DUS platform.

November 5, 2014

North Carolina Retail Southeast

Ziff Properties Sells North Carolina Shopping Center for $14.5M

by John Nelson November 4, 2014

SOUTHERN SHORES, N.C. — Ziff Properties Inc. has sold The Marketplace at Southern Shores, a 128,376-square-foot, Food Lion-anchored shopping center in Southern Shores. Aston Properties purchased the asset from Ziff Properties for $14.5 million. Berkeley Capital Advisors represented Ziff Properties in the transaction.

November 4, 2014

Loans North Carolina Southeast

Berkadia Arranges $14M for Assisted Living Facilities in North Carolina

by John Nelson November 3, 2014

NEW YORK — Berkadia Commercial Mortgage LLC has originated a $14.1 million loan to refinance three assisted living facilities in North Carolina. Christopher Fenton of Berkadia’s seniors housing and healthcare group originated the 35-year, fixed-rate financing through HUD’s 232/223(f) program on behalf of the borrower, an affiliate of Agemark Assisted Living. The properties total 111 assisted living units and are 90 percent occupied.

November 3, 2014

Loans North Carolina Southeast

Grandbridge Arranges $8.3M Loan for Six Forks Square in Raleigh

by John Nelson October 28, 2014

RALEIGH, N.C. — Grandbridge Real Estate Capital has arranged an $8.3 million loan for Six Forks Square, a 149,372-square-foot office campus in Raleigh. The office park was fully leased to the State of North Carolina at the close of the transaction. Robert Hukill and Wesley Fricks of Grandbridge originated the loan through BB&T Real Estate Funding on behalf of the owner, Heritage Capital Group, which purchased the office park for $12.4 million. The loan features three years of interest-only payments and a 25-year amortization schedule.

October 28, 2014

North Carolina Retail Southeast

Lincoln Property, Lincoln Harris Broker $35.3M Sale of Shopping Center in North Carolina

by John Nelson October 20, 2014

PINEVILLE, N.C. — Lincoln Property Co. and its affiliate Lincoln Harris have arranged the $35.3 million sale of The Centrum Shopping Center, a 270,747-square-foot retail center located at 10500 Centrum Parkway in Pineville. The asset is 99 percent leased to 17 tenants, including Kmart, Stein Mart and T.J. Maxx. Chris Cotten of Lincoln Property Co., along with Chris Vasbinder and Johno Harris of Lincoln Harris, represented the buyer, American Realty Capital-Retail Centers of America, in the transaction. Rob Carter of Berkeley Capital Advisors LLC represented the seller, Pineville Centrum LP, an entity comprised of DRA Advisors LLC and Kimco Realty Corp.

October 20, 2014

Multifamily North Carolina Southeast

$54M Adaptive Reuse Apartment Community Opens in Winston-Salem

by John Nelson October 16, 2014

WINSTON-SALEM, N.C. — Co-developers Pennrose Properties LLC and C.A. Harrison Cos. LLC have opened Plant 64 Apartment Homes, a $54 million adaptive reuse project in downtown Winston-Salem. Originally built in 1916 as one of the oldest R.J. Reynolds tobacco buildings, the 423,000-square-foot project has been renovated to feature 242 one-, two- and three-bedroom apartments. Plant 64’s amenity package includes controlled access entry, a roof terrace with grills, outdoor theater, fitness center, swimming pool and a sports court. Bonaventure Property Management is managing Plant 64. Financing was provided by Bank of America N.A., Nationwide Insurance and Stonehenge Capital.

October 16, 2014

North Carolina Retail Southeast

Lincoln Property, Lincoln Harris Arrange $31.5M Sale of Northlake Commons in Charlotte

by John Nelson October 16, 2014

CHARLOTTE, N.C. — Lincoln Property Co., along with its affiliate Lincoln Harris, has brokered the $31.5 million sale of Northlake Commons Shopping Center, a 78,839-square-foot retail property located at 9335 Center Lake Drive in Charlotte. The property was 92 percent leased at the time of sale to tenants such as Party City, Panera Bread, Chili’s, Olive Garden, On the Border, Red Robin, AT&T, Sprint, Moe’s Southwestern Grill, Shane’s Rib Shack, Men’s Wearhouse and Chick-fil-A. Chris Cotton of Lincoln Property and Chris Vasbinder and Johno Harris of Lincoln Harris represented the buyer, American Realty Capital-Retail Centers of America, in the transaction. Rob Carter of Berkeley Capital Advisors LLC represented the seller, Northlake Commons LLC, a partnership between Ferncroft Capital and Crow Holdings. Lincoln Harris will handle the leasing and management duties at Northlake Commons.

October 16, 2014

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