CHARLOTTE, N.C. — Jamestown has partnered with existing ownership to recapitalize Camp North End, a 76-acre mixed-use redevelopment project located in Charlotte, just north of the city’s Uptown district. The Atlanta-based developer and operator will serve as general partner and lead asset management, leasing, marketing, architecture and development firm for the new joint venture ownership structure. ATCO Properties & Management will remain a partner in the overall development, while Shorenstein Investment Advisors will continue as a partner with Jamestown and ATCO in a portion of the project. Jared Londry of PointBlank Ventures represented ATCO in the joint venture transaction and led the structuring of the partnership. PointBlank Ventures has also been retained by Jamestown to raise joint-venture equity for the next phases of development at Camp North End. Damon Hemmerdinger of ATCO will serve in an advisory role as non-executive chairman of the joint venture, as ATCO continues to own and operate Kinship, the multifamily development completed at Camp North End in 2025. The site was originally constructed in 1924 as a Ford Model T plant and later repurposed as the Charlotte Area Missile Plant. ATCO acquired the property in 2016, and Shorenstein became a capital partner in 2018. To …
The Triangle’s industrial market continues to hold strong fundamentals heading into the new year. A disciplined construction pipeline, low vacancy and high absorption fuel the market’s steady success. Disciplined constructionIndustrial developers have been incredibly disciplined when delivering new product to the Raleigh-Durham market, which has kept vacancy below 7 percent — a significantly stronger rate than peer Sun Belt markets as a result of record levels of development in recent years. With absorption rates in the Triangle averaging nearly 3 million square feet per year in the past five years, this healthy rate of delivery and absorption has propped up the region’s industrial market. That being said, the Raleigh-Durham market infill land supply has its limitations. Industrial-zoned land is difficult to find and acquisition costs are pushing $500,000 per acre in some submarkets, and rezoning is a lengthy 12-month or longer process. For these projects to be financially viable, developers have been increasing rents year-over-year to an average of over $12 per square foot across all submarkets, up from roughly $6 just five years ago. Many institutional occupiers have been willing to pay a premium to be in new, Class A space in these infill areas, but other occupiers are …
CHARLOTTE, N.C. — CBRE has arranged nearly $178 million in refinancing for 110 East, a 23-story office tower located in Charlotte’s South End district. J.P. Cordeiro, Mike Ryan, Richard Henry and Blake Cohen of CBRE arranged the loan through AllianceBernstein on behalf of the ownership group, Shorenstein and Stiles. Delivered in 2024, the 389,954-square-foot office property has direct access to the LYNX Blue Line’s East/West light rail station and features an 11th floor sky lobby, outdoor terrace and a fitness center. 110 East is currently 92.6 percent leased to various tenants such as Coinbase and First Horizon Corp.
DURHAM, N.C. — Beacon Partners has purchased 119 acres of industrial-zoned land at the intersection of U.S. Highway 70 and Leesville Road in south Durham. Situated two miles south of Raleigh-Durham International Airport and near Research Triangle Park, the site will support the development of approximately 1.3 million square feet of Class A distribution, manufacturing and life sciences space. The project represents Phase I of Durham Gateway, a 308-acre master-planned campus that will also include 1,750 residential units, offices, shops and restaurants. The City of Durham granted Beacon entitlements for the full 308 acres in September. Durham Gateway is a joint venture between Beacon, HM Partners and SFRE Holdings. The project team includes Advanced Civil Design (civil engineer) and Merriman Schmitt (architect). Ann-Stewart Patterson, Austin Nagy and John Hogan of CBRE will lead leasing and marketing efforts for the industrial space at Durham Gateway.
PINEVILLE, N.C. — Swinerton Builders’ Carolinas division has broken ground on a $5.5 million medical office building located at 10425 Good Sell Court in Pineville, about 14 miles south of Charlotte. Locally based Metrolina Dermatology will occupy the 8,000-square-foot property upon completion, which is expected in early spring. Situated on 1.2 acres, the medical office building will feature 11 exam rooms, two aesthetic rooms, four Mohs exam rooms, one Mohs lab, a sterilization room, four offices and up to five medical assistant/nursing stations, as well as a welcoming lobby/waiting area and an employee breakroom. (Mohs is a specialized technique used to remove skin cancers.) Outside, the property will feature an asphalt parking lot for 40 to 50 cars. The design-build team includes Nelson Worldwide Architects, Cornerstone Architecture, LJB Engineering and Kimley-Horn.
CHARLOTTE, N.C. — Cousins Properties has purchased 300 South Tryon, a 638,000-square-foot office building in Uptown Charlotte, for $317.5 million. Barings, a global asset management firm and subsidiary of MassMutual, sold the 25-story tower to the Atlanta-based REIT. The Spectrum Cos. developed the office building in 2017 as the global headquarters for Barings. Cousins is funding the acquisition with proceeds from non-core asset sales, debt financing and the settlement of common shares. 300 South Tryon was fully leased at the time of sale with a weighted average lease term (WALT) of six years.
MONROE, N.C. — Northmarq has negotiated the sale of Yardly Monroe, a 151-unit build-to-rent (BTR) community located in Monroe, roughly 30 miles outside Charlotte. Trevor Koskovich, John Currin, Jesse Hudson and Austin Jackson of Northmarq represented the seller, a joint venture between developer Taylor Morrison and equity partner Värde Partners. Faron Thompson and Grant Harris, also with Northmarq, originated $24.8 million in Freddie Mac acquisition financing on behalf of the buyer, FCP. The five-year, interest-only loan features a 35-year amortization schedule. Yardly Monroe, which has been rebranded as the Cottages of Monroe, is situated on nearly 25 acres and features one- and two-bedroom homes ranging in size from 717 to 1,030 square feet, according to Apartments.com. Each home features a private backyard with a pet door, full-sized washer/dryer, stainless steel appliances, high-speed internet, smart thermostat, doorbell camera, 10-foot ceilings, pantry, walk-in closet, vinyl plank flooring and a kitchen island. Community amenities include a swimming pool, dog park and a fitness center.
CONCORD, N.C. — Crescent Communities and AEW Capital Management have sold one of three rear-load industrial buildings within AXIAL Bonds Farm, a newly constructed, 810,000-square-foot industrial campus located in Concord, a northeast suburb of Charlotte. Brian Crutcher and Anne Johnson of CBRE represented the sellers in the transaction. Thomas Hipp of Whiteside Properties represented the buyer, National Kitchen & Bath Cabinetry Inc., which will fully occupy the building. The sales price was not disclosed. The project team for AXIAL Bonds Farm included Merriman Schmitt Architects (architect), Oak Engineering (civil engineer), Landmark Builders (general contractor), AEW Capital Management (equity), Canadian Imperial Bank of Commerce (lender) and CBRE (leasing). AXIAL Bonds Farm spans 70 acres and contains three buildings that measure 414,000, 247,000 and 148,720 square feet. The campus also includes 36-foot clear heights, rear-load configuration, 1,099 car parking spaces and 199 trailer parking spaces.
After nearly three years of wrestling with oversupply, Raleigh-Durham’s multifamily market stands at an inflection point that informed investors have been quietly anticipating. The numbers tell a compelling story: construction starts plummeted from around 15,000 units in 2022 to roughly 2,000 in 2024, a staggering 86 percent decline that’s creating the supply drought the market desperately needed. The timing couldn’t be more critical. With an 18-month construction timeline followed by 12 to 16 months of lease-up process, the wave of deliveries from those record 2022 starts peaked in early-to-mid-2025. What comes next is perhaps the most interesting chapter in the Triangle’s multifamily story since our record rent jumps of 2021. Mathematics of recovery The construction cycle’s predictable timeline creates a unique visibility into market dynamics that astute capital allocators are already pricing in. The minimal 2024 starts are translating directly into minimal deliveries stretching from late 2025 through 2028 and beyond, which is essentially a three-year window of supply constraint that stands in stark contrast to the flood of new inventory and increased concessions that plagued 2023 to 2025. Meanwhile, demand fundamentals remain exceptionally strong. Gross absorption hit approximately 11,000 units in 2024 and is tracking toward another 10,000 (estimated) …
KING, N.C. — Miami-based Cleeman Realty Group has brokered the sale of Mountain View Plaza, a 44,000-square-foot shopping center in King, about 16 miles northwest of Winston-Salem, N.C. Food Lion has anchored the 9.9-acre property since 2005. Other tenants include a Mexican restaurant, hibachi restaurant, barbershop, nail salon and a pet groomer. The seller, an unnamed family ownership group, sold the property to a group of private investors completing a 1031 exchange. Jeremy Scheer and Sara Shulman of Cleeman Realty represented both the buyer and the seller in the transaction. The sales price was not disclosed.