REBusinessOnline

Highwoods Closes on $436M Purchase of New Bank of America Tower at Legacy Union in Downtown Charlotte

CHARLOTTE, N.C. — Highwoods Properties Inc. has closed on its $436 million acquisition of the Bank of America Tower at Legacy Union in downtown Charlotte. The 841,000-square-foot building was 90 percent leased at the time of sale. The LEED Gold-certified office tower was delivered earlier this year and features a parking deck. The seller, Lincoln Harris, is developing Legacy Union, a 10-acre development adjacent to Bank of America Stadium, home of the National Football League’s Carolina …

Dalfen, Investcorp Acquire 1.9 MSF Industrial Portfolio in North Carolina

CHARLOTTE, N.C. — Dalfen Industrial and Investcorp have partnered to acquire the North Carolina Industrial Portfolio, a 10-property, 1.9 million-square-foot industrial portfolio spanning from Charlotte to Greensboro. The buildings were built between 2000 and 2013. Major tenants of the portfolio include Crate & Barrel, Lenovo Group Ltd., United Technologies Corp., Britax, Geodis and Henkel AG & Co. Further details of the transaction were not

Longfellow Purchases Swabia Court Office Building in Research Triangle Park for $12.2M

DURHAM, N.C. — Longfellow Real Estate Partners has purchased Swabia Court, a 112,340-square-foot office building within Research Triangle Park in Durham, for $12.2 million. Longfellow plans to renovate the property in first-quarter 2020 to add lab space and implement its amenities and hospitality program, Elevate, which includes amenities such as fitness centers, tailored lunch and learns, pop-up shops, gathering spaces and services such as salon, dental and dry cleaning. Swabia Court was …

Stiles, Shorenstein to Develop 23-Story Office Tower in Charlotte’s South End

CHARLOTTE, N.C. — Stiles and Shorenstein Properties LLC will develop a 23-story, 385,000-square-foot office tower in Charlotte’s South End neighborhood. The developers expect the building to also include 11,000 square feet of retail and restaurant space on the ground level. Construction is expected to begin in the next 12 months with potential to accommodate as much as 1 million square feet in future phases for larger users seeking an onsite location. According to Charlotte Business …

OA Development Acquires Carmel Park Office Campus in South Charlotte for $36.2M

CHARLOTTE, N.C. — OA Development has acquired Carmel Park I and II, two office buildings totaling 173,068 square feet in Charlotte, for $36.2 million. The two buildings were 93 percent leased at the time of sale to 45 tenants from the healthcare, real estate, financial services, engineering, insurance and technology industries. Carmel Park I and II are located at 11111 and 11121 Carmel Commons Blvd., 12 miles south of downtown Charlotte. Ryan Clutter, Chris Lingerfelt, Scot Humphrey and Zack …

Beacon Partners Delivers 525,000 SF Warehouse Near Charlotte for Campbell Snacks

PINEVILLE, N.C. — Beacon Partners has delivered a 525,000-square-foot, build-to-suit warehouse in Pineville for Campbell Snacks, a division of Campbell Soup Co. The facility sits on 34 acres and marks the first completed building within Pineville Distribution Park, an industrial campus that sits 13 miles south of downtown Charlotte. The new warehouse features 36-foot clear heights, cross-dock loading, 180-foot truck courts and 120 trailer parking spaces. InterCon Building Corp. served as the …

Eco Group Breaks Ground on $350M Mosaic Development Near Raleigh-Durham

PITTSBORO, N.C. — Eco Group, a joint venture between Kirk Bradley of Lee-Moore Capital Co. and John Fugo of Montgomery Carolina LLC, has broken ground on Mosaic, a $350 million mixed-use development spanning 136 acres and located 30 miles southwest of Raleigh-Durham. Phase I of Mosaic will include developing 44 acres at the cost of $180 million and is expected to be complete in 2023, although Eco Group plans to open Mosaic to the public in 2020. Town Hall Burger & Beer, People’s Coffee, …

TerraCap Buys Office Building in Charlotte for $24.8M

CHARLOTTE, N.C. — TerraCap Management LLC has bought Resource Square IV, a five-story, 152,000-square-foot office building in Charlotte, for $24.8 million. Resource Square office complex comprises five buildings totaling 337,611 square feet. TerraCap bought three of the buildings in August. The property is located near Interstates 85, 77 and 485, as well as Charlotte’s LYNX Light Rail Blue Line. The property offers a parking ratio of 4.5 per 1,000 square feet and features amenities such as …

Cushman & Wakefield Arranges $17.9M Sale of Carolina Corporate Centre in Raleigh

RALEIGH, N.C. — Cushman & Wakefield has arranged the $17.9 million sale of Carolina Corporate Centre, a 91,709-square-foot office building in Raleigh. The property was 98 percent leased at the time of sale to tenants including law firms, insurance providers, mortgage lenders and tech companies. The seller, The Simpson Organization, acquired the asset in 2016 when it was 80 percent leased and during its ownership upgraded the onsite amenities and common areas. The property is located at …

First Washington Realty Acquires Shopping Center in Raleigh for $21M

RALEIGH, N.C. — First Washington Realty has acquired Harvest Plaza, a 99,479-square-foot retail center in Raleigh. The seller and sales price were not disclosed, although Triangle Business Journal reports Capital Partners and York Properties sold the property for $21 million. Walgreens and Planet Fitness anchor the retail center, which is located at 9650 Strickland Road, 10 miles north of downtown

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