HOLLY SPRINGS, N.C. — Genentech, a Bay Area-based biotech firm and member of the Switzerland-based Roche Group, plans to develop a $700 million pharmaceutical manufacturing facility in Holly Springs, approximately 20 miles southwest of Raleigh. The new 700,000-square-foot facility will create 400 high-wage manufacturing jobs and 1,500 construction jobs. The new facility will support Roche and Genentech’s portfolio of next-generation obesity medicines. The construction timeline for the new factory was not disclosed. Roche and Genentech’s current U.S. footprint includes 13 manufacturing and 15 R&D sites across the company’s pharmaceutical and diagnostics divisions. The companies have 25,000 employees in 24 sites across eight U.S. states.
CHARLOTTE, N.C. — McShane Construction Co., working on behalf of developer Flournoy Development Group, has completed Ellison Mallard Creek, a 397-unit apartment community located at 930 W. Mallard Creek Church Road in Charlotte. Situated on 24.6 acres, the wood-frame property features five apartment buildings and 10 townhome-style buildings that house one-, two- and three-bedroom units. Additionally, 10 units come with a downstairs workspace that allows residents to have an office or small storefront. Monthly rental rates range from $1,411 to $2,800, according to Apartments.com. Designed by Dynamik Design, amenities at Ellison Mallard Creek include a resident lounge with gaming and entertainment areas, a fitness and wellness center, coworking lounge, hobby and art studio, market, heated resort-style pool, courtyards with fire pits, green space, dog park, pet spa and electric vehicle charging stations. McShane Construction is currently building three other apartment communities on behalf of Flournoy.
CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of Carmel Village, a 53,615-square-foot retail center located in Charlotte. Situated at 7510 Pineville-Matthews Road, the center was 91 percent leased at the time of sale to tenants including Bonefish Grill, Mathnasium, Eye Care Partners, Chick-O-Rice, NY Old School Bagels and QC Tea Bar. Margaret Jones, Lane Breedlove and Miguel Alcivar of Cushman & Wakefield represented the seller, Raptor Realty Investments, in the transaction. The buyer was not disclosed.
CHARLOTTE, N.C. — Mill Creek Residential has begun leasing Modera Liberty Row, a 239-unit apartment community located at 7740 Liberty Row Drive in Charlotte’s SouthPark neighborhood. The community will offer studio, one-, two- and three-bedroom options averaging 1,100 square feet in size. Monthly rental rates at Modera Liberty Row range from $1,950 to $4,500, according to the property website. Amenities will include a resort-style pool, fitness center with a yoga studio, four elevated courtyards, multiple clubrooms, game room, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa, bicycle storage, 24/7 self-serve package room and secured parking garages with EV charging stations. The two-building property is located on The Loop, a three-mile urban trail, and within close proximity to Piedmont Town Center, Phillips Place and SouthPark Mall. Mill Creek anticipates first move-ins at Modera Liberty Row in June.
ATLANTA — The Taylor McMinn Retail Group of Marcus & Millichap in Atlanta has brokered the sale of a 10-store portfolio in North Carolina, Georgia and Florida. Each store is triple-net leased to Dollar General for an average lease term of 13 years remaining. The undisclosed seller was an institution and the buyers were all individual private investors who paid an average of 97 percent of list price, according to Don McMinn of the Taylor McMinn Retail Group. “This portfolio sale showcases our team’s ability to achieve above-market pricing by leveraging our track record, network and platform in spite of challenging market conditions,” says McMinn.
CHARLOTTE, N.C. — CBRE has arranged the sale of 525 North Tryon Street, a 425,300-square-foot office building in Uptown Charlotte. Nashville-based Highland Ventures purchased the 19-story property from New York Life Real Estate Investors for an undisclosed price. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction, and locally based Insite Properties represented the buyer. The office building was constructed in 1998 and was 46 percent leased at the time of the sale.
FUQUAY-VARINA, N.C. — Foundry Commercial has brokered the sale of a nearly 30-acre industrial land site along the N.C. Highway 55 corridor in Fuquay-Varina. The buyer, Chicago-based Stotan Industrial, will deliver approximately 487,200 square feet of small-bay industrial space across three new buildings. Stotan anticipates the project, its first in the Raleigh-Durham region, will be delivered in second-quarter 2026. Jim Allaire, Sarah Godwin and Karl Hudson IV of Foundry represented the undisclosed seller in the transaction. The project represents the first large-scale, institutionally designed industrial development in Fuquay-Varina in decades, according to Foundry Commercial.
RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a new 20-story apartment high-rise in Midtown Raleigh’s North Hills district. The multifamily tower, which will feature 362 apartments and 9,000 square feet of retail space, will be situated adjacent to the recently sold Advance Auto Parts Tower. The Strand will comprise studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The community will also feature an amenity deck on the sixth floor that will include a resort-style pool, grilling area, activity lawn, fitness center and club room, as well as a clubroom on the 18th floor and a speakeasy on the top level that is exclusive for penthouse residents. The project team includes development partner Mitsui Fudosan America, architect Rule Joy Trammell + Rubio, general contractor Balfour Beatty and civil engineer McAdams. Kane Realty plans to welcome first residents at The Strand in summer 2027. The locally based development and management firm is also underway on planning for Phase II of the site.
ASHEVILLE, N.C. — Cushman & Wakefield has brokered the sale of an eight-acre multifamily development site in Asheville. Atlanta-based Shelton McNally Real Estate Partners purchased the shovel-ready site from Golden Hour Collective with plans to develop a new 210-unit apartment community. Alex Phillips, Battle Smith, Alex McDermott and Sparling Davis of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented Golden Hour in the land deal. Specific plans and construction timelines for the development were not released. The site is located within Overlook at Ashville, a 98.8-acre master-planned community that is approved for the 210 apartments, as well as 130 build-to-rent townhomes and up to 176 duplex units. The development is situated on a sloping mountainside within a few miles of downtown Asheville.
NAGS HEAD, N.C. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Satterfield Landing Shopping Center, a 49,897-square-foot shopping center located in North Carolina’s Outer Banks region. Situated at South Croatan Highway at West Satterfield Landing Road in Nags Head, the center sits on 6.2 acres and is fully leased to T.J. Maxx, Staples and OBX Martial Arts. Clark Simpson and Erik Conradi of Thalhimer’s Virginia Beach office represented the seller, an entity doing business as Satterfield Landing LLC, in the transaction. The Overland Group was the buyer.