North Carolina

Electric Vehicle Manufacturing Powers Real Estate Activity Along I-85 Industrial Corridor, Say InterFace Panelists

by John Nelson April 20, 2022

CHARLOTTE, N.C. — The Southeast has long been home to automotive giants such as Honda, Hyundai, Toyota and Mercedes-Benz, as well as their large network of suppliers. In 2021, BMW led the nation in automotive exports by value, the eighth consecutive year the German automaker held that distinction. BMW produced and exported $10.1 billion worth of cars and SUVs from its mega campus in Spartanburg, S.C., last year, and the company recently announced two new facilities — one on its campus and the other across Interstate 85 — that will total $300 million in investment. Similarly, Hyundai Motor Manufacturing Alabama, the regional headquarters and only U.S. plant for the South Korean auto giant, announced last week that it planned to invest $300 million to expand and improve its Montgomery plant. The initiative will create 200 jobs and accommodate the manufacturing of the hybrid Santa Fe vehicle line and launch of the first Electrified Genesis GV70 SUV. Hyundai Motor Group said it aims to sell 1.87 million battery electric vehicles (BEVs) annually by 2030 in order to secure a 7 percent global market share of BEVs sold. The automaker announced on April 12 that it plans to invest $7.4 billion in …

April 20, 2022

Acquisitions North Carolina Office Southeast

Serac Capital Partners Acquires Office Project in Cary, North Carolina for $19.3M

by Julia Sanders April 19, 2022

CARY, N.C. — Houston-based Serac Capital Partners has acquired 500 Gregson, a 106,047-square-foot office building in Cary, for $19.3 million. Ben Kilgore of CBRE represented the seller, Boston-based Albany Road Partners, in the transaction. Bill Dampier of Independent Financial provided an undisclosed amount of acquisition financing for the sale. The single-story building was originally a build-to-suit for American Airlines. The property is now 93 percent occupied by multiple tenants, including American Airlines. 500 Gregson is situated within MacGregor Park, a 108-acre business park with about 1 million square feet of office space. The park is about 97 percent occupied to public and private companies, including LORD Corp., ABB and Siemens.

April 19, 2022

Development Leasing Activity Mixed-Use North Carolina Southeast

Stonemar Properties Adds New Retail Tenants at Ballantyne Village in Charlotte

by Julia Sanders April 19, 2022

CHARLOTTE, N.C. — Stonemar Properties is adding several new retailers at Ballantyne Village, a mixed-use development in Charlotte that features offices, shops, restaurants and the new 14-story AC Hotel Charlotte Ballantyne. The New York-based firm has tapped Foundry Commercial, which handles retail leasing at the property, to oversee leasing of the 55,000 square feet of office space that formerly housed a movie theater. Ballantyne Village offers large floor plates for various layouts, 13-foot ceiling heights and the potential for a private tenant rooftop. The property features a recently revamped covered parking deck, directional signage and an outdoor patio space overlooking the center’s retailers. Ballantyne Village is located at the southwest corner of Johnston Road and Ballantyne Commons Parkway. The new retail tenants include Casa Del Tequila, a 2,623-square-foot authentic Mexican restaurant and tequila bar; Vel Tree, a 2,503-square-foot soulful vegan restaurant; and Deka Lash, a 1,082-square-foot eyelash extension and beauty shop. Vel Tree is open, and both Casa Del Tequila and Deka Lash are expected to open by early summer. The 186-room AC Hotel Charlotte Ballantyne opened within Ballantyne Village earlier this year. Additionally, directly across the street is the Ballantyne Reimagined project, which is expected to include 10 additional …

April 19, 2022

Development Industrial North Carolina Southeast

NorthPoint Development Breaks Ground on 1.5 MSF Industrial Park in Kernersville, North Carolina

by Julia Sanders April 18, 2022

KERNERSVILLE, N.C. — NorthPoint Development has broken ground on Piedmont Commerce Center, a 1.5 million-square-foot industrial park in Kernersville, about 10.6 miles from Winston-Salem. Construction is slated to be complete between the fourth quarter of 2022 and the first quarter of 2023. The expected development cost is $129 million. Piedmont Commerce Center will be a four-building industrial park located at Macy Grove Road and Salem Parkway. The buildings will range from 246,489 square feet to 669,081 square feet. The project will bring 800 full-time jobs to the area, according to NorthPoint. NAI Piedmont Triad is handling the marketing and leasing for Piedmont Commerce Center.

April 18, 2022

Alabama Conference Coverage Features Georgia Industrial North Carolina South Carolina Southeast Southeast Feature Archive Virginia

I-85 Corridor Markets See Explosion of Industrial Development, But InterFace Panelists Wonder if Housing Will Follow

by John Nelson April 15, 2022

CHARLOTTE, N.C. — During the closing panel at France Media’s InterFace I-85 Industrial Corridor conference, brokers from the major markets along the 666-mile interstate gave updates about developments and opportunities in their territories. Brockton Hall, vice president of Colliers’ Upstate South Carolina office, said that the Greenville-Spartanburg industrial market in South Carolina had 16 million square feet of industrial space under construction, which represents an inventory growth of approximately 7.4 percent. Graham Stoneburner, senior vice president of Cushman & Wakefield, said that the Richmond, Va., market currently had 11 million square feet underway, which represents an inventory growth of 11 percent. Similarly Robbie Perkins, shareholder and market president at NAI Piedmont Triad, said North Carolina’s Triad region had 8.7 million square feet in the development pipeline, a nearly 11 percent growth rate compared to the market’s 80 million-square-foot inventory. During nearly every panel throughout the conference, which was held on Wednesday, April 13 at the Hilton Uptown Charlotte, brokers, investors and developers described the industrial growth along the I-85 Industrial Corridor as “unprecedented.” “There’s a real lack of supply at the moment, but we have a lot coming,” said John Montgomery, managing director of Colliers’ Upstate South Carolina office, during …

April 15, 2022

Acquisitions Florida North Carolina Office Southeast Tennessee

CBRE Brokers $91M Sale of Eight-Building Medical Office Portfolio Across Southeast, Texas

by Julia Sanders April 8, 2022

DALLAS — Dallas-based CBRE has brokered the $91 million sale of an eight-building medical office portfolio across four states in the Southeast and Texas. A joint venture between Chicago-based Remedy Medical Properties and Boca Raton, Fla.-based Kanye Anderson Real Estate purchased the properties. Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Cole Reethof, Sabrina Solomiany and Zach Holderman of CBRE represented the seller, Los Angeles-based Spruce Healthcare, in the transaction. The 177,000-square-foot portfolio includes five properties in Florida and one each in Texas, North Carolina and Tennessee. The portfolio was fully leased at the time of sale with 11 years of weighted average lease terms remaining. Two-thirds of the overall tenancy features orthopedics, oncology and imaging practices. Other specialties include ophthalmology and dermatology, both of which include ambulatory surgery centers.

April 8, 2022

Acquisitions Multifamily North Carolina Southeast

Asia Capital Real Estate Acquires Aven Apartments in Durham

by Julia Sanders April 7, 2022

DURHAM, N.C. — Asia Capital Real Estate (ACRE) has acquired Aven Apartments, a 144-unit multifamily property in Durham. Magma Equities sold the property for an undisclosed price. Aven Apartments offers one- and two-bedroom floorplans. Community amenities include a newly upgraded clubhouse and fitness center, swimming pool with sundeck, walking and bike trails, dog park, playground and onsite management with 24-hour maintenance. ACRE plans to launch a $3 million capital improvements and investment strategy at the property. In-unit renovations will include stainless steel appliances, new cabinets and hardware, tile backsplash, granite countertops in both kitchens and bathrooms and in-unit washers and dryers. Exterior improvements will include new siding, shutters, doors, pavement, lighting and other miscellaneous aesthetic additions. ACRE plans to also repurpose existing tennis courts into a courtyard area featuring grills, fire pit and a playground.

April 7, 2022

Acquisitions North Carolina Office Southeast

Montecito Medical Purchases 14,720 SF Medical Office Building in Metro Charlotte

by Julia Sanders April 5, 2022

CONCORD, N.C. — Nashville-based Montecito Medical Real Estate has purchased a 14,720-square-foot medical office building in Concord. The seller and sales price were not disclosed. The medical office building is fully occupied under a long-term lease by Northeast Digestive Health Center. Northeast Digestive Health has served Cabarrus County and surrounding communities for 40 years. The practice provides a range of consultative, diagnostic, treatment and procedural services for patients across the area. The property is situated just off Interstate 85, approximately 25 miles northeast of downtown Charlotte.

April 5, 2022

Development Industrial North Carolina Southeast

Electric Automotive Manufacturer VinFast Plans $4B North American Assembly Plant Near Raleigh

by Julia Sanders April 4, 2022

RALEIGH, N.C. ― VinFast, a Vietnamese-based electric vehicle and battery company, has plans to open its first North American automotive assembly and battery manufacturing plant in metro Raleigh. The company plans to invest $4 billion and create 7,500 jobs in Chatham County. VinFast is the automotive branch of Vingroup, a company founded in Ukraine that covers trade and services, technology and industry and social enterprise. VinFast announced plans for its California headquarters earlier this year. The company plans to start producing vehicles in the United States in 2024. VinFast evaluated over 50 megasites in 10 states for its facility, before choosing Chatham County site. The Economic Development Partnership of North Carolina and its business recruitment managers helped the company connect with state entities, like the North Carolina Department of Commerce, and local entities to secure the necessary information and details.

April 4, 2022

Development Industrial North Carolina Southeast

Macy’s to Invest $584M for New Fulfillment Center in China Grove, North Carolina

by Julia Sanders April 4, 2022

CHINA GROVE, N.C. — Macy’s Inc. has plans to open a 1.4 million-square-foot fulfillment center in China Grove. The New York City-based retail giant plans to invest approximately $584 million in the facility, which is expected to open in 2024. The fulfillment center will offer automated direct-to-consumer fulfillment capacity. When fully operational, the property will account for nearly 30 percent of Macy’s digital supply chain capacity and serve customers nationwide. The facility will be equipped with new automation technology, including an advanced goods-to-person and pocket sorter system that will help to distribute merchandise efficiently. The property will employ nearly 2,800 workers when fully operational.

April 4, 2022

Newer Posts

Older Posts