North Carolina

Madison Communities Opens 253-Unit Apartment Property in Charlotte

by John Nelson September 22, 2025

CHARLOTTE, N.C. — Madison Communities, a subsidiary of Madison Capital Group, has opened Madison Ashley Park, a 253-unit apartment community located at 2220 Berryhill Road in Charlotte’s Ashley Park submarket. Situated near I-277 and the city’s FreeMoreWest district, Madison Ashley Park features a mix of studio, one- and two-bedroom floor plans. Monthly rental rates range from $1,271 to $2,746, according to Apartments.com. Amenities include a secure parking deck, clubhouse with a demonstration kitchen, coworking space, fitness center with a yoga studio and a central pool with sun deck, cabanas and loungers. The design-build team includes Humphreys and Partners Architecture and Benco Construction.

September 22, 2025

Acquisitions Industrial North Carolina Southeast

JLL Income Property Trust Acquires Metro Raleigh Distribution Center for $190M

by John Nelson September 18, 2025

APEX, N.C. — JLL Income Property Trust has acquired West Raleigh Distribution Center, a five-building, 985,000-square-foot industrial park located in the Raleigh suburb of Apex. The seller was not disclosed. Situated near I-540, West Raleigh Distribution Center was 87 percent leased at the time of sale to a mix of eight tenants, the largest of whom is a major distributor to the biotech and healthcare sectors. The buildings were constructed in 2024 and 2025.

September 18, 2025

Acquisitions North Carolina Southeast Student Housing Walker & Dunlop

Walker & Dunlop Arranges Sale of 576-Bed Student Housing Community Near Appalachian State University

by John Nelson September 16, 2025

BOONE, N.C. — Walker & Dunlop has arranged the sale of Mountaineer Village, a 576-bed student housing community located near the Appalachian State University campus in Boone. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, a joint venture between Coastal Ridge Real Estate and Heitman, in the disposition. The buyer and terms of the transaction were not released. Mountaineer Village offers three-bedroom units with bed-to-bath parity. Shared amenities include a study lounge, fitness center, resort-style pool, business center, basketball court, barbecue area, game room, sand volleyball court, pickleball courts and a fire pit.

September 16, 2025

Development Multifamily North Carolina Southeast

NRP Begins Construction on 348-Unit Eastfield Village Apartment Community in Selma, North Carolina

by Abby Cox September 15, 2025

SELMA, N.C. — The NRP Group has kicked off construction on Eastfield Village, a 348-unit, garden-style apartment community located in Selma, roughly 26 miles southwest of Raleigh. The development will anchor the 435-acre master-planned community of Eastfield, which comprises a 3 million-square-foot business park, medical and retail space, three hotels, a variety of senior and workforce housing and entertainment amenities. Eastfield Village will feature one-, two- and three-bedroom floorplans across 12 three-story buildings. Amenities at the complex will include a resort-style swimming pool with a sundeck, landscaped courtyard, pickleball court, shuffleboard area, fitness center, coworking/business lounge, multiple indoor and outdoor gathering spaces and a dedicated dog park and pet wash station. Additionally, walking trails and green spaces at the complex will connect residents to the broader Eastfield development. First move-ins are expected in late 2026, with full occupancy slated for the fourth quarter of 2027.

September 15, 2025

Development Industrial North Carolina Southeast

Beacon Partners Breaks Ground on 150,515 SF Spec Industrial Building in Southwest Charlotte

by Abby Cox September 15, 2025

CHARLOTTE, N.C. — Beacon Partners has broken ground on a 150,515-square-foot speculative industrial building located at 13021 General Drive in southwest Charlotte. The project team includes general contractor Choate Construction and Merriman Schmitt Architects. Kleinfelder is providing engineering services, while Fifth Third Bank is providing financing. Additionally, Tim Robertson and Alex Habecker of Beacon Partners are handling leasing internally. The facility is slated to be delivered in shell condition in May 2026. Situated on 12 acres near Charlotte Douglas International Airport, the industrial facility will feature 32-foot clear heights, build-to-suit office space, fenced outside storage, concrete truck courts, ESFR sprinkler systems, side-load accessibility and 30 trailer parking spaces.

September 15, 2025

Leasing Activity North Carolina Office Southeast

Tanium Renews, Expands Office Lease at 555 Mangum in Downtown Durham

by Abby Cox September 12, 2025

DURHAM, N.C. — Global cybersecurity firm Tanium has renewed and expanded its office lease at 555 Mangum, a 234,000-square-foot office building in downtown Durham. Tanium initially leased 25,000 square feet at the complex in 2024 and has now taken an additional 23,000 square feet, bringing its total occupancy to 48,000 square feet. The company will move into its new space in early 2026. Matt Winters and Kimarie Ankenbrand of JLL represented Tanium in both the initial lease and the most recent expansion. Situated near the Durham Bulls Minor League Athletic Park, 555 Mangum is owned by Northwood Ravin and features a mix of amenities including a rooftop lounge, outdoor courtyard, fitness facility and bike storage, as well as The Lenny, a rooftop restaurant concept from the Ibarra brothers.

September 12, 2025

Development Industrial North Carolina Southeast Top Stories

Red Bull, Partners Break Ground on 2.3 MSF Bottling Plant in Concord, North Carolina

by Abby Cox September 12, 2025

CONCORD, N.C. — Energy drink giant Red Bull, along with development partners Ball Corp. (NYSE: BALL) and Rauch North America, has broken ground on a 2.3 million-square-foot production, manufacturing and distribution bottling plant in Concord, a northeast suburb of Charlotte. The $1.5 billion investment, as disclosed by several media sources, is expected to begin operations in 2028, with maximized filling capacity anticipated by 2031. The Charlotte Business Journal reports that the companies originally bought the 500-acre site at the former Philips Morris cigarette plant site, now rebranded as The Grounds, in 2021 for $55 million, after first announcing their plans to open a facility. As additionally reported, the plan initially began as a $740 million project, but as the Cabarrus County Economic Development Corp. approved enhanced incentives in 2022, the project expanded. The fully automated Red Bull plant will now offer 170,000 pallet spaces, as well as internal conveyor bridges for intralogistics that will connect can manufacturing to co-packing to warehousing, and lastly, directly to customer deliveries to “minimize carbon emissions.” Ball Corp. will also build an 800,000-square-foot aluminum can plant at the industrial park. The company will produce packaging at the new facility for Red Bull, as well as other beverage …

September 12, 2025

Development Hospitality Mixed-Use North Carolina Retail Southeast

CBL, Vision Hospitality Open Element by Westin Hotel at Mayfaire Town Center in Wilmington, North Carolina

by John Nelson September 9, 2025

WILMINGTON, N.C. — CBL Properties, in a 49/51 joint venture with Vision Hospitality, has opened a new Element by Westin hotel at Mayfaire Town Center, a 610,000-square-foot, open-air shopping mall in Wilmington. Both CBL and Vision are headquartered in Chattanooga, Tenn. The 139-room hotel is situated on International Drive and includes a lobby bar, 24/7 fitness center and complimentary bicycle rentals. Since 2024, CBL has executed retail leases exceeding 100,000 square feet at Mayfaire, including deals with Dave & Busters, Altar’d State Kids, Rowan, Free People, FP Movement, Warby Parker, Claire’s, Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop and Dry Bar. Additionally, existing tenants like lululemon athletica, Rack Room Shoes and Reed’s Jewelers have remodeled and expanded their stores at Mayfaire. CBL purchased the mall in 2015.

September 9, 2025

Leasing Activity North Carolina Office Southeast

CBRE Arranges 14 Office Leases at The Grove in West Raleigh Totaling 75,541 SF

by Abby Cox September 5, 2025

RALEIGH, N.C. — CBRE has arranged 14 office leases totaling 75,541 square feet at The Grove, an office redevelopment project located in west Raleigh. Ed Pulliam and John Brewer of CBRE represented the landlord, Chartwell Property Group, in the lease negotiations. The recently signed leases bring the development’s occupancy to 90 percent, comprising nearly $25 million in combined value. The new tenants include Johnnie-O, Christina Valkanoff LLC, Hedrick Gardner Kincheloe & Garofalo LLP, Carr, Riggs & Ingram, Martin Marietta, Elder Research Inc., North Carolina Association of CPAs, W. M. Jordan Co. Inc., The Providence Group, JacobsWyper Architects, Proyco and Ark Royal Wealth Management LLC. Situated on 11.5 acres, The Grove’s office campus offers 29,000 square feet of indoor/outdoor amenity space, featuring a self-serve café and bar, library, lounge, golf simulator, conference rooms and workspaces, as well as a fitness center that includes CrossFit stations, an indoor pickleball court, sauna and massage room.

September 5, 2025

Development Multifamily North Carolina Southeast

Alliance Residential Opens 332-Unit Broadstone West End Apartments in Charlotte

by John Nelson September 2, 2025

CHARLOTTE, N.C. — Alliance Residential has opened Broadstone West End, a 332-unit apartment community located at 2220 Wilkinson Blvd. in Charlotte’s FreeMoreWest neighborhood. The property includes studio, one and two-bedroom floorplans, with monthly rental rates starting at $1,359. Amenities include a saltwater pool, fitness center, outdoor grilling station with a Big Green Egg and pizza oven, two firepits with lounge seating and a resident clubroom. Other amenities include a speakeasy-inspired poker room that is hidden behind a cabinet door entrance, as well as indoor bike storage, a fenced dog park, EV charging stations, smart package lockers, package room with cold storage and gated parking. The design-build team includes McAdams Co. (civil engineer), Cline Design (architect) and MAD Studio Interiors (interior designer). Attractions within a mile of Broadstone West End include Legion Brewing and Pinky’s Westside Grill.

September 2, 2025

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