North Carolina

Trinity Capital, Crow Holdings to Develop 171,920 SF Industrial Facility in Charlotte

by John Nelson August 5, 2025

CHARLOTTE, N.C. — A joint venture between Trinity Capital and a real estate fund advised by Crow Holdings plans to develop Graham Park CLT, a 171,920-square-foot speculative industrial facility located on a 17.3-acre site at 2241 Graham Park Drive in Charlotte. Tom Tropeano, Chris Loyd and Gray Gaines of Avison Young represented the seller, an entity doing business as Graham Park Ventures LLC, in the $6.2 million land sale to the development team. United Bank is providing an undisclosed amount of construction financing. Edifice Construction is the general contractor for Graham Park CLT, which is expected to break ground in the third quarter and wrap up construction in third-quarter 2026. The development will include concrete tilt-wall construction, 32-foot clear heights, ESFR sprinklers, dock-high and grade-level loading doors and a two-acre dedicated industrial outdoor storage area. Trinity Capital and Crow Holdings have selected Avison Young’s Tropeano, Gaines and Henry Lobb to handle the leasing assignment at Graham Park CLT.

August 5, 2025

Development Multifamily North Carolina Southeast

Turnbridge Equities to Break Ground on $200M Highline Glenwood Apartment Tower in Downtown Raleigh

by John Nelson July 30, 2025

RALEIGH, N.C. — Turnbridge Equities plans to break ground on Highline Glenwood, a $200 million apartment high-rise development located at the site of the former Pine State Creamery in downtown Raleigh. The 37-story tower will house 306 luxury studio, one-, two- and three-bedroom apartments, as well as an indoor/outdoor sky lounge on the 37th level and an outdoor amenity terrace on the ninth floor that will include a pool, padel court, lawn, grills and lounge areas. Other amenities include a demonstration kitchen, coworking suite with conference and videoconference rooms, golf simulator, fitness center and a wellness suite with a cold plunge and sauna. Highline Glenwood will also include 7,500 square feet of ground-level retail space and 50,000 square feet of adaptive reuse commercial space in the historic Pine State Creamery building, which will be preserved and house the 300-person hub offices of BuildOps. The site includes developable land for another 300 apartments or 300,000 square feet of commercial space. Capital sources for the Highline Glenwood development include equity from Turnbridge and $147 million in debt from Axos Bank and accounts managed by Manulife Investment Management Real Estate. Sitework is underway, with project delivery expected in mid-2028. The design-build team includes …

July 30, 2025

Development Leasing Activity Mixed-Use Multifamily North Carolina Restaurant Retail Southeast

Ardent Closes on Land Acquisition for Westside Bottling Project in Durham, Signs Leases With Sprouts and Shake Shack

by John Nelson July 29, 2025

DURHAM, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which at full build-out will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an existing bank branch on the site, will continue to operate at Westside Bottling. The development sits three miles west of downtown Durham and north of Duke University and Duke University Medical Center.

July 29, 2025

Development Hospitality North Carolina Southeast

TMGOC Ventures Delivers 208-Room Moxy Hotel in Uptown Charlotte

by Abby Cox July 28, 2025

CHARLOTTE, N.C. — TMGOC Ventures has delivered the Moxy Charlotte Uptown Hotel, a 208-room boutique hotel located in Uptown Charlotte. The hotel was delivered in collaboration with general contractor BL Harbert International, ODA Architecture and interior designer DLR Group. This hotel marks TMGOC Ventures’ second ground-up Moxy project, as well as its 18th operating hotel in its national portfolio. Lexima Lodging manages the property, which features a 24-hour fitness center, valet parking, a ground-floor Starbucks Coffee shop and nearly 7,000 square feet of flexible event space with indoor-outdoor connectivity and skyline views. Additional communal spaces at the hotel include the Bar Moxy, a rooftop lounge, and various breakout rooms. Moxy is a boutique hotel brand that Marriott International launched in partnership with IKEA.

July 28, 2025

Leasing Activity North Carolina Retail Southeast

Pappas Properties Signs Publix to 50,000 SF Lease at Cadia Matthews Development in Metro Charlotte

by Abby Cox July 28, 2025

MATTHEWS, N.C. — Development firm Pappas Properties has executed a 50,000-square-foot lease with Publix to anchor the retail component of Cadia Matthews, an 82-acre master-planned community located in Matthews, a southeastern suburb of Charlotte. The new Publix store will feature a full-service pharmacy with a drive-thru. Construction is scheduled to begin in summer 2026 and will employ approximately 150 associates upon completion. According to The Charlotte Observer, the store is expected to open by late 2027. Along with the Publix, Cadia Matthews will feature a mix of retail and dining options, as well as a community park with a performance stage. The Morgan Cos. represented Publix Super Markets in the lease negotiations.

July 28, 2025

Market Reports North Carolina Office Southeast Southeast Market Reports

Charlotte’s Office Market Shows a Shift Toward Expansion, Long-Term Leasing

by John Nelson July 28, 2025

The momentum in Charlotte’s office market continues into 2025, showcasing a strong first quarter marked by positive net absorption and a surge in multi-market tenant prospects. We are currently seeing three times as many expansions as downsizing among tenants, indicating a psychological shift among decision-makers across various industries. Despite some large vacancies affecting the overall market rate, the narrative on the ground in Charlotte is one of optimism and urgency. A few factors contribute to this trend, including companies are increasingly bringing employees back to the office, and those that overcorrected their space needs post-pandemic are reassessing their strategies. Particularly interesting is the demand for Class A office space in Charlotte, a thriving Sun Belt market. The most sought-after buildings in prime locations are nearly full, leading to reduced concessions and rising rents. This stands in stark contrast to reports of distressed assets negatively impacting modern office investments. Furthermore, the number of quality subleases are limited, and new construction is expected to come to a halt soon, particularly as remaining spaces in 110 East and Legacy Union are leased, most likely by year-end. If last year is any indication of a fundamental positive shift in the office sector, we can …

July 28, 2025

Acquisitions Industrial Leasing Activity North Carolina Southeast

JLL Brokers Sale of 250,541 SF Industrial Facility in Durham Leased to LifeScience Logistics

by Abby Cox July 25, 2025

DURHAM, N.C. — JLL Capital Markets has brokered the sale of LifeScience Logistics at Durham 85, a 250,541-square-foot industrial facility situated at 2360 Ferrell Road within Durham 85 Industrial Park. The facility, which is located 10 miles from Research Triangle Park, is fully leased by LifeScience Logistics LLC, a supply chain service provider in the healthcare and pharmaceutical industries. The facility features 32-foot clear heights, ESFR fire suppression and energy-efficient LED lighting throughout the property. Dave Andrews, Pete Pittroff, Michael Scarnato and Mike Lewis of JLL represented the seller, a joint venture between Scannell Properties and Manulife Investment Management, in the transaction. Mississippi-based EastGroup Properties purchased the facility for an undisclosed price.

July 25, 2025

Leasing Activity North Carolina Office Southeast

Ferncroft Capital Completes Renovations for 330 South Tryon Office Building in Uptown Charlotte

by Abby Cox July 25, 2025

CHARLOTTE, N.C. — Ferncroft Capital has completed several renovations at 330 South Tryon, a 65,544-square-foot boutique office building in Uptown Charlotte. The property’s refresh includes new finishes throughout the building and enhanced features in the lobby, elevator cabs and parking garage; a modernized exterior with signage opportunities for prospective tenants; and flexible floorplates to accommodate a variety of users. Home to the Charlotte Regional Business Alliance, the five-story office building currently has 38,338 square feet of office space available for lease. Elizabeth McMillan, Emily Hill and Kennedy Fertitta of JLL are leading leasing efforts at the property on behalf of Ferncroft Capital.

July 25, 2025

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Charlotte Industrial Market Holds Steady Amid National Slowdown

by John Nelson July 21, 2025

The Charlotte industrial market continues to display resilience in 2025, navigating a national slowdown with more stability than a lot of other markets. While economic headwinds and record supply volumes have created challenges nationally, Charlotte’s fundamentals remain anchored by consistent tenant demand, especially for Class A space under 200,000 square feet. As vacancy stabilizes and rent spreads narrow between asset classes, a clear flight to quality trend is reshaping how tenants prioritize space and make leasing decisions throughout the region. In first-quarter 2025, Charlotte recorded just over 1 million square feet of net absorption, maintaining positive momentum while absorbing the wave of speculative deliveries over the past several years. Fifty-six percent of all leases signed in the first quarter were for Class A space — the highest percentage recorded for Class A product since 2016, according to research from Avison Young. This stands out in light of the significant volume of new construction deliveries that have come on line vacant in recent years. With the rent premium between Class A and B product narrowing, tenants are increasingly seizing the opportunity to relocate into newer, more efficient facilities. The tenant-in-the-market (TIM) pipeline tells a compelling story. More than 12 million square …

July 21, 2025

Development North Carolina Office Southeast

Dole Food Selects Swinerton to Build-Out New U.S. Headquarters in Charlotte

by John Nelson July 17, 2025

CHARLOTTE, N.C. — Dole Food Co. has selected Swinerton for the build-out of its new U.S. headquarters within One South, a 40-story office tower in Uptown Charlotte. Charlotte-based Redline Design Group designed Dole’s office environment, which features 57 private offices, five huddle rooms, a conference room, wellness room, café, coffee bar and several lounges with a renovated elevator lobby. Dole is moving from an office about a block away, which the Irish company has occupied since moving its U.S. operations from California in 2019. The office interior build-out at One South has begun, with completion anticipated for the fall. Dole’s office comprises the whole sixth floor (23,000 square feet), which is approximately 30 percent larger than its existing footprint. Last year, Swinerton completed the demolition of the top four floors of One South, a $1 million project encompassing 88,000 square feet.

July 17, 2025

Newer Posts

Older Posts