North Carolina

CBRE|Triad Arranges Four Retail Leases at Irving Park Shops in Greensboro, North Carolina

by John Nelson November 30, 2023

GREENSBORO, N.C. — CBRE|Triad has arranged four retail leases at Irving Park Shops, a retail and dining property spanning three buildings in the Piedmont Triad market of Greensboro. The deals include a 3,100-square-foot lease for Dave’s Hot Chicken, which will repurpose the former A Cleaner World building. The restaurant will be the fifth North Carolina location for the fast-casual chain. A Cleaner World, a dry-cleaning operator, will move into a new 1,333-square-foot space within Irving Park Shops at 2105 W. Cornwallis Drive. CycleBar and Armine’s Blow Outs and Bubbles will also occupy the single-story building with 2,030- and 1,362-square-foot locations, respectively. Matt King and Christy Smith of CBRE|Triad represented the landlord, an entity doing business as Irving Park Shops LLC, in the transactions. The duo also handles the marketing responsibilities for the property.

November 30, 2023

Development Industrial North Carolina Southeast Top Stories

Dai Nippon Printing to Develop $233M Battery Pouch Manufacturing Facility in Linwood, North Carolina

by Katie Sloan November 30, 2023

LINWOOD, N.C. — Tokyo-based Dai Nippon Printing Co. (DNP) has announced plans to develop a $233 million manufacturing facility in Linwood, approximately midway between Charlotte and Greensboro. The development will produce battery pouches that encase and protect lithium-ion batteries for electric vehicles. While further details on the building itself were not disclosed, DNP plans to complete the project by 2026. The factory will be the company’s first advanced manufacturing facility in the U.S. DNP hopes to expand the facility in the coming years to also manufacture jumbo rolls, which are another type of casing for lithium-ion batteries. The project is facilitated in part by a recently approved Job Development Investment Grant (JDIG) from North Carolina’s Economic Investment Committee, the state’s department of commerce leads. The department estimates the project will grow North Carolina’s economy by $691 million over the course of the grant’s 12-year term. Through the agreement, DNP can potentially be reimbursed $2.7 million by the state over the grant’s term, dependent upon tax revenues generated by new jobs created by the development. “From the east to the west, North Carolina’s electric vehicle industry is growing exponentially,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Our natural resources and …

November 30, 2023

Acquisitions Development Industrial North Carolina Southeast

Stonemont, Fortius Complete 702,250 SF Industrial Park in Metro Charlotte, Sell Building to Chick-fil-A Supply

by John Nelson November 20, 2023

KANNAPOLIS, N.C. — Stonemont Financial Group and Fortius Capital Partners have completed the development of Lakeshore Corporate Park, a 702,250-square-foot industrial park in the north Charlotte suburb of Kannapolis. Situated off I-85 on Stadium Drive, the property comprises three buildings featuring 32- to 36-foot clear heights, full-building circulation and 260- to 310-foot depths. Building 1 totals 128,750 square feet, and Buildings 2 and 3 comprise 294,500 and 279,000 square feet, respectively. The property also includes 515 car parking spaces and 76 trailer parking stalls. Chick-fil-A Supply, a subsidiary of Chick-fil-A Inc., has purchased Building 1, with plans to use the facility as a distribution and operations center. Construction of the development began in July 2022, and the project team included Choate Construction Co., Triad Design Group and Oak Engineering.

November 20, 2023

Acquisitions Development Healthcare Mixed-Use North Carolina Southeast

UNC Health Acquires 43-Acre Parcel Within Chatham Park in Metro Raleigh

by John Nelson November 20, 2023

PITTSBORO, N.C. — UNC Health has acquired a 43-acre parcel within Chatham Park, an 8,500-acre master-planned community located in Pittsboro, roughly 34 miles outside of Raleigh. Development of the parcel, which can accommodate up to 700,000 square feet of medical care facilities, will complement existing UNC Health facilities within Chatham Park. Preston Development is the master developer of the community, which features residences as well as more than 200,000 square feet of office and retail space. A 121-room Hampton Inn hotel is scheduled to open soon, and site development is currently underway for a 34,000-square-foot YMCA facility. UNC Health has not released a development timeline for the healthcare facilities.

November 20, 2023

Development Hospitality North Carolina Southeast

Lendlease, IHG Army Hotels Break Ground on 207-Room Candlewood Suites Hotel at Fort Liberty in North Carolina

by John Nelson November 16, 2023

FORT LIBERTY, N.C. — Lendlease and IHG Army Hotels have broken ground on a 207-room Candlewood Suites hotel at Fort Liberty, a U.S. Army base in central North Carolina. The companies plan to open the hotel in early 2026. As a partner lodging developer for the Department of Defense, Lendlease will own the hotel and IHG Army Hotels will operate the property. The hotel represents the 17th Candlewood Suites hotel that Lendlease and IHG have partnered on since 2009 as part of the Privatization of Army Lodging (PAL) initiative, an Army-led, public-private venture to revitalize on-post lodging for service members, their families and government travelers. Fort Liberty welcomes approximately 100,000 travelers annually at one of the base’s three existing hotels. The new Candlewood Suites Fort Liberty hotel will feature studio, one- and two-bedroom rooms with fully equipped kitchens in each suite. Amenities will include a business center, lounge, fitness center, laundry facilities, 24-hour market and an outdoor barbecue area, as well as complimentary breakfast. Lendlease and IHG will make enhancements at two other Fort Liberty hotels, the Carolina Inn and Normandy House, over the next year.

November 16, 2023

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Brokers Sale of 175,239 SF Manufacturing Facility in Bessemer City, North Carolina

by John Nelson November 16, 2023

BESSEMER CITY, N.C. — Cushman & Wakefield has brokered the sale of a 175,239-square-foot manufacturing facility located at 201 Southridge Parkway in Bessemer City, a western suburb of Charlotte. KORE Investments acquired the Class A property from the previous owner and tenant, Hunter Douglas, a window manufacturer that closed the facility earlier this year, according to local media outlets. Matt Treble and Andrew DeLamielleure of Cushman & Wakefield represented the buyer in the transaction. The sales price was not disclosed. KORE Investments plans to backfill the facility with a new tenant in the coming months.

November 16, 2023

Development Industrial North Carolina Office Southeast

Swinerton to Construct $21M Build-to-Suit Flex Facility in Metro Raleigh

by John Nelson November 15, 2023

RALEIGH, N.C. — Swinerton will serve as the design coordinator and general contractor for a $21 million build-to-suit office and industrial facility south of Raleigh. The location of the 75,000-square-foot development and name of the tenant, a Fortune 150 electrical utilities provider, were not disclosed. Set to open on a 33-acre site in spring 2025, the project will comprise a 45,000-square-foot, single-story mobile substation storage facility and a 30,000-square-foot command center that will feature eight office spaces and four large collaboration areas.

November 15, 2023

Acquisitions North Carolina Retail Southeast

Tanger Acquires 382,000 SF Asheville Outlets in North Carolina for $70M

by John Nelson November 14, 2023

ASHEVILLE, N.C. — Tanger, a publicly traded owner and operator of outlet malls, has purchased Asheville Outlets, a 382,000-square-foot retail development in Asheville. Tanger acquired the outlet mall from New England Development for $70 million in an all-cash, off-market transaction. The property represents Tanger’s 38th outlet mall and the second new addition to its holdings in fourth-quarter 2023, following the opening of Tanger Outlets Nashville last month. Asheville Outlets was 95 percent leased at the time of sale to tenants including Nike, Under Armour, RH, Bath & Body Works, Crate & Barrel and West Elm. The property includes two anchors: Sportsman’s Warehouse and a separately owned Dillard’s Clearance Center. New England Development purchased and redeveloped the former indoor regional mall into an outlet mall in 2015. Tanger will officially transition the center to become Tanger Outlets Asheville in early January 2024.

November 14, 2023

Loans Multifamily North Carolina Southeast

NewPoint Provides $58M Refinancing for Apartment Community in Metro Raleigh

by John Nelson November 13, 2023

RALEIGH, N.C. — NewPoint Real Estate Capital has provided a $58 million Freddie Mac loan for the refinancing of an apartment community located in the greater Raleigh area. Built in two phases, the unnamed property comprises 400 residences in a mix of one-, two- and three-bedroom units. Amenities at the community include a swimming pool with a splash pad and outdoor cabanas, 24-hour fitness center, game room, business center, playground, pet park, grilling areas and an outdoor multi-sport court. Mike Ortlip of NewPoint originated the fixed-rate loan, which features a five-year term with full interest-only payments. The borrower was not disclosed.

November 13, 2023

Development North Carolina Office Southeast

Redline, Ascent Underway on Renovation of 201,310 SF Office Property in Metro Charlotte

by John Nelson November 10, 2023

HUNTERSVILLE, N.C. — Charlotte-based Redline Property Partners and its partner Ascent Real Estate Capital are underway on the renovation of a 201,310-square-foot office property located in Huntersville, roughly 15 miles outside of Charlotte. Situated on 33 acres, the four-building property has been rebranded as Birkdale Point. New amenities will include multiple outdoor patios with Wi-Fi, a building lounge with tenant liquor lockers, billiards and seating, a fitness center with shower facilities and a market. Construction plans include full renovations to all interior common areas, redesigns of the entrances and lobbies, new facades, updated signage, new landscaping, painting building exteriors and improvements to the footbridge that connects the office park to McDowell Creek Greenway and Birkdale Village. Completion of renovations to Birkdale Point is scheduled for the first quarter of 2024. C4 Builders is serving as the general contractor, and Redline Design Group is the architect.

November 10, 2023

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