North Carolina

GREENSBORO, N.C. — Walker & Dunlop has secured a $62 million construction loan for The Revel Apartments, a 360-unit multifamily development in Greensboro. Jamie Butler, Cliff Ayers, Nicole Brickhouse, Jason McFadden and Michael Bowles of Walker & Dunlop arranged the loan on behalf of the borrower, Collett Capital. The non-recourse financing was underwritten at a 70 percent loan-to-value ratio. Situated adjacent to Piedmont Triad International Airport, Revel will feature a mix of one-, two- and three-bedroom apartments with chef-inspired kitchens featuring fixed islands, quartz countertops, tile backsplashes and energy-efficient, stainless steel appliances. Amenities will include a lobby, 24-hour fitness center, 24-hour package room, resort-style pool, covered outdoor terrace, lounge, business center, offices, conference space and a dog park.

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CHARLOTTE, N.C. — Canyon Partners Real Estate and The NRP Group have formed a joint venture for the development of Abernethy Lofts, a 392-unit multifamily community to be located in Charlotte’s NoDa neighborhood. Upon completion, which is scheduled for the second quarter of 2026, the property will feature structured parking with 509 spaces, as well as a pool, pizza and grilling stations, work pods, a garage with electric bikes, fitness center and a dog park. Canyon has provided $35.9 million of limited partner financing for the project and previously collaborated with NRP in February for the development of South Tryon, a residential community in Charlotte’s South End.

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SALISBURY, N.C. — Halstatt Real Estate Partners and Tectonic Real Estate will develop a two-building industrial property totaling 614,220 square feet in Salisbury. Upon completion, the campus will feature 60-foot speed bays in both buildings, as well as 505 parking spaces and 165 trailer spaces. A construction timeline was not disclosed.

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CHARLOTTE, N.C. — Faropoint has purchased a three-property industrial portfolio in Charlotte for $33 million. The infill assets include a 45,750-square-foot facility at 4112 Joe St., a 200,000-square-foot building at 2101 Westinghouse Blvd. and a 67,200-square-foot property at 9701 Brookford St.  Patrick Gildea, Robert Hardaway, Matt Smith, Grayson Hawkins, Anne Johnson, Bryan Crutcher, Trey Barry and Frank Fallon of CBRE represented the seller, Beacon Partners, in the transaction. Hoboken, N.J.-based Faropoint entered the Charlotte market earlier this year with the acquisition of a 56,846-square-foot facility at 10000 Industrial Drive in Pineville, N.C. Last year, Faropoint entered the Baltimore and Long Island industrial markets. Next year, the company plans to expand its footprint to the West Coast.

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GASTONIA, N.C. — Poettker Construction has delivered the second phase of Gateway85, a 300-acre industrial park in the west Charlotte suburb of Gastonia. Developed by NorthPoint Development, the park is located near I-85 to the south and N.C. Highway 7 to the north. Phase II features Building 4, a 241,000-square-foot rear-load warehouse with 36-foot clear heights and 22 dock doors (expandable to 45), and Building 7, a 705,000-square-foot cross-dock warehouse with 40-foot clear heights and 70 dock doors (expandable to 140). The second phase spans 55 acres. At full build-out, Gateway85 will comprise 3.6 million square feet of industrial space.

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PINEVILLE, N.C. — Beacon Partners has begun the expansion of Carolina Logistics Park, a 288-acre industrial park in Pineville that currently spans more than 3.5 million square feet. The expansion will add two new buildings totaling 434,500 square feet, with build-out options starting at 21,615 square feet. The buildings will feature 32-foot clear heights, build-to-suit offices, concrete truck courts, automobile and trailer parking and ESFR sprinkler systems. The project team includes general contractor The Conlan Co., Merriman Schmitt Architects and Orsborn Engineering Group. CIBC Bank USA is providing financing for the new buildings. Beacon Partners expects to deliver the expansion in mid-year 2024. Tim Robertson will handle the leasing assignment for the project on an internal basis. Beacon Partners recently completed a 900,000-square-foot expansion across three buildings within the park. W.W. Grainger Inc. occupies 525,624 square feet within that section. Other tenants at the overall Carolina Logistics Park include Amazon, Carolina Foods and Empire Distributors.

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WILMINGTON, N.C. — CenterSquare has acquired The Forum, a 105,785-square-foot shopping center located in Wilmington. The property was fully leased at the time of sale to tenants including Dunkin’, Jimmy John’s, Club Pilates, The UPS Store, Chop’t, Bento Box, True Blue Butcher and Osteria Cicchetti. The seller and sales price were not disclosed.

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CHAPEL HILL, N.C. — Charlotte-based Proffitt Dixon Partners has completed the development of Carraway Self Storage, a 93,000-square-foot, climate-controlled self-storage facility in Chapel Hill. Located at 500 Myrica St., the property comprises small, medium and large units across four stories. Features include LED sensor lighting, an advanced security system and boat and RV storage options. JLL Charlotte’s Project and Development Services (PDS) team managed the design and construction of the project. Public Storage will operate the property on behalf of Proffitt Dixon.

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CHARLOTTE, N.C. — KBS has signed three tenants to leases totaling 49,135 square feet at Carillon, a 24-story office tower in Uptown Charlotte. The landlord has signed a 37,909-square-foot lease renewal with the U.S. General Services Administration (GSA), on behalf of the U.S. Attorney’s Office; an expansion with Lazard, a global financial services firm; and an 1,836-square-foot lease with Moffatt & Nichol Inc., a global infrastructure advisory firm that renewed its lease. Jennifer Kurz, Rhea Greene and Tim Arnold of Trinity Partners represented KBS in the lease transactions. Carillon shares a newly revamped courtyard with the Grand Bohemian Hotel next door. Common amenities include a conference center, onsite Bright Horizons childcare center, fitness center with showers, car wash and Morton’s Steakhouse.

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CHARLOTTE, N.C. — Crescent Communities has broken ground on AXIAL Rapid Commerce, a 449,000-square-foot speculative industrial facility in Charlotte. The infill, Class A building will be located at 500 Rhyne Road, a half-mile from I-485 and 2.5 miles from I-85. AXIAL Rapid Commerce will include 36-foot clear heights and 3,850 square feet of office space, as well as 338 auto parking spaces, 106 trailer parking spaces and two drive-in doors. The design-build team includes development partner Fortius Capital Partners, joint venture equity partner Pacolet Milliken, DMA Architecture, Orsborn Engineering, Evans General Contractors, lender TD Bank and leasing agency Colliers. The development team expects to deliver AXIAL Rapid Commerce in third-quarter 2024.

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