North Carolina

City of Charlotte, Visitors Authority Open $126.9M Charlotte Convention Center

by Julia Sanders October 25, 2021

CHARLOTTE, N.C. — The City of Charlotte and the Charlotte Regional Visitors Authority (CRVA) have opened the Charlotte Convention Center in Uptown Charlotte. The $126.9 million expansion project broke ground in December 2019 and added approximately 50,000 square feet of meeting room and pre-function space, taking the venue’s total leasable space to 600,000 square feet. The number of meeting rooms increased from 41 to 55 and now includes two 10,000-square-foot spaces. New to the convention center is an exterior over street pedestrian walkway, which connects the property to the adjacent 700-room Westin Charlotte hotel and a LYNX Blue Line light rail stop. The newly expanded convention center is the anchors of Uptown Charlotte, an urban submarket that features 200-plus restaurants and more than 6,000 hotel rooms. Atlanta-based TVS, the original designer of the Charlotte Convention Center, served as the architect for the expansion project. Holder-Edison Foard-Leeper JV was the construction manager.

October 25, 2021

Development Industrial North Carolina Southeast

WDG to Develop 630,000 SF Industrial Park in Statesville, North Carolina

by Julia Sanders October 21, 2021

STATESVILLE, N.C. — Williams Development Group (WDG) plans to break ground on Statesville Commerce Center, a 630,000-square-foot speculative industrial park in Statesville. Grant Miller, Rob Speir and Justin Smith of Colliers | Charlotte have been hired by WDG to lease and market the property. Statesville Commerce Center will offer access to Interstates 77, 40 and 85 and will feature two Class A buildings with Building 1 set to include 370,136 square feet, 36-foot clear heights, 72 dock-high doors and 145 trailer spaces. Building 2 will include 263,701 square feet, 32-foot clear heights, 33 dock-high doors and 73 trailer spaces. Both buildings will feature an ESFR fire suppression system and LED lighting. Building 1 and 2 are slated for completion by 2023. WDG and Colliers | Charlotte are collaborating on this project with Merriman-Schmitt Architects Inc., Oak Engineering and Landmark Builders. Statesville Commerce Center is WDG’s fifth development in North Carolina following projects in Greensboro, Whitsett, Winston-Salem and High Point.

October 21, 2021

Acquisitions Industrial North Carolina Southeast

Avison Young Brokers $14.6M Sale of Industrial Building in Charlotte

by Julia Sanders October 21, 2021

CHARLOTTE, N.C. — Avison Young has brokered the sale of a 128,000-square-foot industrial building located at 2345 Township Road in Charlotte, about 9.9 miles from downtown Charlotte. The sales price was $14.6 million. The seller and buyer were not disclosed. The industrial building is fully leased by Magellan Aviation Group, a global supplier of aftermarket aircraft products and services. Built in 2000, this property features pre-cast panel construction, an ESFR sprinkler system and multiple storefronts. Chris Loyd, Tom Tropeano and Chris Skibinski of Avison Young’s Charlotte industrial team facilitated the transaction on behalf of the private seller.

October 21, 2021

Leasing Activity North Carolina Retail Southeast

Lowes Foods Signs 52,000 SF Lease at Christenbury Village in Concord, North Carolina

by Julia Sanders October 20, 2021

CONCORD, N.C. — Winston-Salem-based Lowes Foods LLC has signed a lease to anchor Christenbury Village, a grocery-anchored mixed-use development in Concord. Christenbury Investors LLC, an entity affiliated with Charlotte-based MPV Properties LLC and Mission Properties LLC, is the developer. Christenbury Village is a 17-acre development located at the intersection of Cox Mill Road and Christenbury Parkway. The project is slated to include an approximately 52,000-square-foot Lowes Foods, two mixed-use buildings featuring approximately 150 apartment units and about 26,000 square feet of ground-floor commercial space. Christenbury Village will also include 24,000-square-foot medical office and shop retail buildings along Christenbury Parkway. The developer plans to break ground on Phase I of the project in the fourth quarter, and Lowes Foods is slated to open in the beginning of 2023. Austin Easter of MPV Properties represented Lowes Foods in the lease transaction.

October 20, 2021

Acquisitions Development Multifamily North Carolina Southeast

JLL Brokers $5M Land Sale for Multifamily Project in Cary, North Carolina

by Julia Sanders October 20, 2021

CARY, N.C. — JLL Capital Markets has brokered the $5 million sale for a 5.8-acre infill land parcel in Cary that is zoned for multifamily. SunCap Property Group acquired the land with plans to develop a 230-unit apartment community called Ashby at Twin Lakes at the site. The property will include one-, two- and three-bedroom residences, as well as a courtyard and pool, gas grills, indoor and outdoor fitness center, workout stations, dog park and spa, bike storage and secured parking. Situated along Davis Drive, the site is located within the Twin Lakes Planned Development District, which also includes a new 100,000-square-foot Wegmans-anchored retail center. David Lee of SunCap’s multifamily division worked closely with the Town of Cary to plan the community. Sarah Godwin of JLL marketed the land on behalf of the seller, an entity doing business as Leyland Twin Lakes LLC.

October 20, 2021

Acquisitions Life Sciences North Carolina Southeast

JLL Income Property Trust Acquires Two Life Sciences Properties in Durham for $67M

by Julia Sanders October 14, 2021

DURHAM, N.C. — JLL Income Property Trust has acquired 5 & 47 National Way, two life sciences properties located in Durham. The sales price was approximately $67 million. The seller was not disclosed. Built in 2020, the properties total 375,000 square feet and are fully leased to life sciences tenants, such as KBI BioPharma and Taysha Gene Therapies. The tenants have invested a combined $180 million in property upgrades that include laboratory, clean and cold rooms, specialized sanitation stations and specialized water and power upgrades, according to Allan Swaringen, president and CEO of JLL Income Property Trust. The properties are located adjacent to Research Triangle Park, the biggest scientific research park in the country. The weighted average lease term on the two properties is more than 14 years.

October 14, 2021

Development Multifamily North Carolina Southeast

Joint Venture Breaks Ground on 261-Unit Multifamily Community in Charlotte’s South End

by Julia Sanders October 12, 2021

CHARLOTTE, N.C. — Developer RangeWater Real Estate and equity partner ParkProperty Capital have broken ground on The Raven at Tremont, a 261-unit multifamily community in Charlotte’s South End neighborhood. The first apartments are slated for completion by the spring of 2023. The Raven at Tremont will include one- and two-bedroom apartments. The property’s units will feature 9-foot ceilings, subway tiles, stainless steel appliances, granite countertops and Whirlpool washers and dryers. Community amenities will include a top-floor sky lounge, fitness center, pool, 10,000 square feet of open green space and a dog park. Located at 536 W. Tremont Ave., the property will be situated close to several retailers such as Callie’s Hot Little Biscuit, Zeppelin, Krispy Kreme, Yamazaru Sushi & Sake and Jeni’s Splendid Ice Creams. The multifamily development will also be situated about 1.9 miles from downtown Charlotte. Both RangeWater and ParkProperty Capital are based in Atlanta. RangeWater currently has 10 active projects in North Carolina totaling more than 2,500 units.

October 12, 2021

Company News North Carolina Southeast

Darrell Palasciano, Matt Henry Join Brokerage Team at Providence Group in Charlotte

by Julia Sanders October 1, 2021

CHARLOTTE, N.C. —The Carolinas leasing team of Darrell Palasciano and Matt Henry has joined The Providence Group’s landlord division. Palasciano and Henry combined have nearly three decades of experience as landlord advisors. Matt Henry started working in commercial real estate in 2014, and Darrell Palasciano has about 18 years of retail development and leasing experience. The two have $600 million in career transaction volume with a total of 3 million square feet. Most recently, the team was with the Carolinas Division of The Shopping Center Group. Starting earlier this month, Palasciano and Henry joined The Providence Group as brokers, working from the firm’s new office in Charlotte. The Palasciano-Henry team continue to work as strategic retail advisors with national, regional and local owners and developers throughout both North Carolina and South Carolina. Palasciano currently serves as ICSC State Chair for both North and South Carolina, previously serving as Government Relations Chair and Carolinas Conference Chair. Henry has previously worked with clients including Kimco Realty Corp., Slate Asset Management, Echo Realty, Vanguard, Westwood and Seritage.

October 1, 2021

Acquisitions Multifamily North Carolina Southeast

Preferred Apartment Communities Acquires 256-Unit Apartment Complex in Metro Charlotte

by Julia Sanders September 30, 2021

MATTHEWS, N.C. — Preferred Apartment Communities Inc. has acquired Solis Chestnut Farm, a 256-unit Class A multifamily community in Matthews, about 11.7 miles from Charlotte. The price and seller were not disclosed. Located at 3005 Chestnut Grove Lane, Solis Chestnut Farm offers studio, one-, two- and three-bedroom units ranging from 620 to 1,480 square feet. The monthly rent is $1,384 to $2,104. Community amenities include a pool, grill, bike storage, game room, conference room and courtyard. The unit features include in-unit washers/dryers, granite countertops and stainless steel appliances.

September 30, 2021

Acquisitions North Carolina Retail Southeast

Marcus & Millichap Brokers Sale of 152,030 SF Shopping Center in Greensboro, North Carolina

by Julia Sanders September 24, 2021

GREENSBORO, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.

September 24, 2021

Newer Posts

Older Posts