North Carolina

Silverman Group Buys 198 Acres, Plans Spec Industrial Park in Metro Charlotte

by Julia Sanders July 16, 2021

CHINA GROVE, N.C. — The Silverman Group has purchased approximately 198 acres located in China Grove for a speculative industrial park known as 85 North Logistics Center. The land seller was not disclosed, but the sales price was approximately $10.4 million. The project is slated for delivery in the third quarter of 2022. The project has the potential for upwards of 1.8 million square feet of Class A industrial space across two buildings. Silverman Group could potentially deliver one building spanning 1.5 million square feet as well as a second 414,000-square-foot building. The project could include trailer and auto parking, as well as ceiling heights of 40 feet and greater should it be desired by a prospective tenant. The Silverman Group is a privately owned and operated private equity and real estate development firm based in Basking Ridge, N. J. Avison Young has been chosen to lease the property.

July 16, 2021

Acquisitions North Carolina Office Southeast

Northpond Partners Acquires Packard Place Office Building in Downtown Charlotte for $15.4M

by Julia Sanders July 13, 2021

CHARLOTTE, N.C — Northpond Partners has acquired Packard Place, a five-story creative office building located at 222 South Church St. in downtown Charlotte. Dunn Mileham and David Morris of Trinity Partners arranged the transaction on behalf of the seller, Packard Place Properties LLC, an entity owned by Sara and Dan Roselli. The sales price was $15.4 million. After purchasing the 95,128-square-foot property in 2010, Sara and Dan Roselli founded The Garage at Packard Place, a nonprofit focused on providing Charlotte’s start-up and entrepreneurial community with technical, educational and business support. Currently 60 percent leased, Packard Place has served as home to the Arts & Science Council, Insight Enterprises, DealCloud, Sunlight Financial, Not Just Coffee and Ink n Ivy. Northpond has selected architectural firm Gensler to lead the design for the property’s comprehensive common area renovations. Potential plans include the creation of an open lobby allowing for tenant connection and collaboration. Capital improvements are expected to begin later this year and be completed in second-quarter 2022. Northpond has retained Maddy Howey and Tim Arnold of Trinity Partners to lease the property. Additionally, Trinity Partners will manage the property. Northpond Partners is a Chicago-based real estate investment firm. This property is Northpond’s …

July 13, 2021

Acquisitions Industrial North Carolina Southeast

JLL Brokers Sale of 520,431 SF Industrial Facility in Raleigh

by Julia Sanders July 9, 2021

RALEIGH, N.C. — JLL Capital Markets has brokered the sale of 2728 Capital Blvd., a 520,431-square-foot, last-mile industrial facility in Raleigh. Patrick Nally, Pete Pittroff, Dave Andrews and Michael Scarnato of JLL represented the seller, SharpVue Capital. Charlotte-based Beacon Partners purchased the facility for an undisclosed price. The property is situated on 32 acres and is located about 4.6 miles from downtown Raleigh.

July 9, 2021

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Arranges $71M Sale of Industrial Portfolio in Charlotte, Durham

by Julia Sanders July 9, 2021

CHARLOTTE AND DURHAM, N.C. — Cushman & Wakefield has arranged the sale of a four-property industrial portfolio located in Charlotte and Durham. Rob Cochran, Stewart Calhoun, Casey Masters, Nolan Ashton, David Finger, Sara Owen, Fermin Deoca and Eric Ridlehoover of Cushman & Wakefield represented the seller, funds managed by Rialto Capital Management LLC, in the transaction. DRA Advisors, on behalf of a separate account client, acquired the properties for $71 million. The portfolio totals 869,916 square feet and was 88 percent leased to five tenants at the time of sale. The buildings include a 406,001-square-foot building located at 1001 Bond St. in Charlotte, a 187,000-square-foot building located at 4001 Performance Road in Charlotte, a 107,968-square-foot building located at 2710 Weck Drive in Durham and a 168,847-square-foot building located at 2910 Weck Drive in Durham.

July 9, 2021

Acquisitions Development Mixed-Use Multifamily North Carolina Office Restaurant Retail Southeast

SLI Capital, Regent Acquire 15 Parcels in Raleigh for Phase II of East End Market

by Julia Sanders July 9, 2021

RALEIGH, N.C. — A joint venture between SLI Capital and Regent Partners has acquired 15 parcels totaling approximately 10 acres in Raleigh for the second phase of the East End Market mixed-use development. Seven undisclosed entities sold the 15 parcels to the joint venture for a total of approximately $18 million. Located on Whitaker Mill Road between Wake Forest Road and Atlantic Avenue, East End Market is a mixed-use, food and beverage destination that will offer a collection of restaurants, apartments, shops and office spaces. Phase I of East End Market began in March and is expected to be completed by the end of the year with the first tenants expected to move in shortly thereafter. The tenant lineup includes East End Bistro, a French chop house by acclaimed restaurateur Giorgios Bakatsias; Shady Grove Cider Co., Raleigh’s first cidery; Common Desk, a Texas-based coworking brand; and local businesses Campion Capital and Piedmont Capital. Phase II will include new construction featuring 235,000 square feet of office space, 40,000 square feet of retail and food and beverage and 465 apartments. The project is fully capitalized via a joint venture with Koch Real Estate Investments. Construction will commence without any preleasing, according to …

July 9, 2021

Industrial Leasing Activity North Carolina Southeast

Upper Deck Signs 126,000 SF Industrial Lease at Alexander Commerce Park in Durham

by Julia Sanders July 2, 2021

DURHAM, N.C. — The Upper Deck Co., a Carlsbad, Calif.-based worldwide sports and entertainment company, has signed a lease to occupy a full building totaling 126,000 square feet at Alexander Commerce Park in Durham. Upper Deck will be Alexander Commerce Park’s first tenant. Upper Deck’s lease will serve as the company’s East Coast office. Colton Clifton with BPG Management represented the tenant in the lease transaction. Austin Nagy, Ann-Stewart Patterson and Bryan Everett of CBRE represented the landlord, Trinity Capital. Alexander Commerce Park is a Class A industrial park featuring three buildings totaling 441,000 square feet. The property will be located on TW Alexander Drive in Durham’s Research Triangle Park. The remaining two buildings are 189,280 square feet and 126,000 square feet. Construction is underway with a completion date in the first half of 2022. Designed by DMA Architects, the buildings will feature 32-foot clear heights, ESFR fire protection and three primary entrances along each façade to allow for easy subdivision for multiple tenants. In addition to Alexander Commerce Park, Trinity Capital is currently developing 147 Exchange in Durham and wrapping up development at Eastgate 540, a six-building, 980,000-square-foot industrial park in Raleigh’s East Wake submarket.

July 2, 2021

Acquisitions Industrial North Carolina Self-Storage Southeast

Berkshire Hathaway Arranges Sale of Self-Storage Portfolio in North Carolina

by Julia Sanders July 2, 2021

SHELBY AND HICKORY, N.C. — Berkshire Hathaway has arranged the sale of a self-storage portfolio in Shelby and Hickery. The sales price was not disclosed. Parker Sweet and Cameron Vale of Berkshire Hathaway represented the seller and secured the buyer, both privately owned companies. The properties total 1,570 units and 219,000 net rentable square feet.

July 2, 2021

Development Multifamily North Carolina Southeast

Hoar Construction Completes 33-Story Ellis Apartment High-Rise in Uptown Charlotte

by Julia Sanders June 28, 2021

CHARLOTTE, N.C. — Hoar Construction has completed The Ellis, a 33-story apartment community in Uptown Charlotte. The high-rise is part of a larger mixed-use development that encompasses a six-story multifamily building, approximately 19,000 square feet of retail space and a shared parking deck. Hoar served as general contractor and partnered with development firm LMC on the project. The Ellis contains 365 homes with 13 apartment homes on each floor and 23 penthouses occupying four of the highest floors. Community amenities include a heated saltwater pool and a fitness center on the 33rd level. Standing at 385 feet tall, The Ellis is one of the largest and tallest multifamily communities in the area, according to Hoar. Located at 512 North College St., The Ellis provides pedestrian access to Charlotte’s central business district and a direct path to the Lynx Light Rail and Charlotte Rail Trail. Construction on The Ellis began in February of 2019. First move-ins are planned for this summer. Other partners in the project include Ellinwood + Machado Structural Engineers, KTGY, Kimley Horn and Intec Group.

June 28, 2021

Development Mixed-Use North Carolina Office Retail Southeast

Stream Realty, Durban Group to Develop 325,000 SF Mixed-Use Project in Charlotte’s South End

by Julia Sanders June 16, 2021

CHARLOTTE, N.C. — Stream Realty Partners and joint venture partner The Durban Group will develop a mixed-use project located at 2833 and 2905 Griffith St. in Charlotte. The 325,000-square-foot development will be situated on 1.7 acres adjacent to Suffolk Punch Brewing in the city’s South End submarket. Construction will start in second quarter 2022. The development will be a high-rise tower with office and retail space, according to Charlotte Business Journal. Located on the Lynx New Bern station, the development will have its retail component anchored by an expansion of Suffolk Punch Brewing. Stream Realty Partners is a Texas-based commercial real estate firm with full-service offerings in leasing, property management, development, construction management and investment sales services across the industry. The Durban Group is a Charlotte-based commercial real estate development firm.

June 16, 2021

Development Mixed-Use North Carolina Southeast Top Stories

Innovation Quarter Reveals Plans for 2.7 MSF Second Phase of Mixed-Use Campus in Downtown Winston-Salem

by John Nelson June 15, 2021

WINSTON-SALEM, N.C. — Innovation Quarter (iQ), an entity that controls a 2.1 million-square-foot life sciences and higher education campus of the same name, has revealed plans for its second phase. The upcoming project will expand the mixed-use development in downtown Winston-Salem by 2.7 million square feet across 10 buildings. Set on a 28-acre site straddling Research Parkway, Phase II of iQ will include 1 million square feet of clinical, office and laboratory spaces, as well as up to 450 residential units and 30,000 square feet of retail and restaurant spaces. The second phase will also include 15 acres of green space headlined by Fogle Commons, a linear park that is anticipated to host outdoor events, as well as a half-mile extension of Long Branch Trail. “This new phase of development will create the same feel and aesthetic found in the Innovation Quarter today,” says Graydon Pleasants, head of development for iQ. “This mix of science and business, recreation and retail, green spaces and residential will bring even more vibrancy to this section of downtown Winston-Salem.” Chicago-based architectural firm Perkins + Will developed the master plan for the second phase with iQ. Wexford Science + Technology was a development partner for …

June 15, 2021

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