WAKE FOREST AND CHAPEL HILL, N.C. — Wegmans will open two new grocery stores in 2021 in Wake Forest and Chapel Hill. The New York-based grocer plans to add 500 full-time jobs and nearly 900 total jobs at the two stores. The store in Wake Forest will span 104,000 square feet and will house 200 full-time employees. The property, located at 11051 Ligon Mill Road, is expected to open in May. The asset in Chapel Hill is expected to open in late February and will house 300 full-time jobs. The store will span 99,000 square feet and is situated at 1810 Fordham Blvd. Also, in North Carolina, a Wegmans in Cary recently sold for $34.9 million.
CARY, N.C. — Hines and Columbia Development have broken ground on Fenton, a 69-acre mixed-use project in Cary that is expected to be complete in spring 2022. In addition to the groundbreaking, the developers also announced that Arhaus has preleased 17,974 square feet at Fenton. The retail portion is now 73 percent preleased and includes other retailers such as Wegmans, CMX CineBistro, Sephora, Free People and Bailey’s Fine Jewelry. Fenton is located at the intersection of Interstate 40 and Cary Towne Boulevard, three miles from downtown Cary and eight miles southwest of downtown Raleigh. At full buildout, the property will include approximately 345,000 square feet of retail and entertainment space, 170,000 square feet of office space, The Canopy at Fenton and a 175-room boutique hotel.
NEW YORK CITY — JEM Holdings has sold four multifamily properties in North Carolina and two in Georgia for a combined $116.4 million. In North Carolina, Friedlam Partners acquired the 192-unit 59Twenty @ Monroe and the 196-unit Two20 @ Branchview in Charlotte, as well as the 176-unit Enclave @ Crabtree in Raleigh. Concordia Partners bought the 400-unit Marquis Gardens in Durham, N.C.; and the 232-unit Windsor Arms in Savannah, Ga. Sandhurst Apartment Management LLC purchased the 182-unit Woodhill in Augusta, Ga. Watson Bryant, Paul Marley and Taylor Bird of Cushman & Wakefield represented the New York City-based seller in the transactions.
CLEVELAND — KeyBank Real Estate Capital has provided $145.2 million in Freddie Mac financing for the purchase of 12 multifamily communities in North Carolina. Brian Caudel and Andrew Nathenson of Cleveland-based KeyBank originated the loans, which offer 10-year terms with five years of interest-only payments and a 30-year amortization schedule, on behalf of the borrower and buyer, Peak Capital Partners. The portfolio comprises garden-style apartments totaling 1,859 units with lot sizes averaging 11 acres. The assets were built between 1985 and 2005. The seller(s) was not disclosed. The properties included in the sale are: 96-unit Arbor Glen in Eden, built in 2004; 128-unit Autumn Park in Oxford, built in 2005; 298-unit Brookwood in Archdale, built in 1987; 108-unit Crossroads Station in Charlotte, built in 2002; 226-unit Crestview in Concord, built in 1985; 156-unit Davidson in Concord, built in 1994; 144-unit Huntington in Concord, built in 1998; 88-unit Lexington Station in Lexington, built in 2002; 120-unit Crown Ridge in Shelby, built in 2003; 148-unit Marion Ridge in Shelby, built in 1999; 279-unit Mooresville Station (I & II) in Mooresville, built in 2000; and 68-unit Stonewood in Mooresville, built in 1987.
WAKE FOREST, N.C. — A joint venture between Hawthorne Residential and Evolve Cos. has acquired a 23-acre site in Wake Forest to develop Hawthorne at the Forest, a 248-unit apartment community. The developer acquired the land from an undisclosed seller for $4.3 million. The asset is expected to deliver in 2022 and will be situated at 10728 Star Road, 14 miles north of downtown Raleigh. The property will offer one-, two- and three-bedroom floor plans with wood-style floors, energy-efficient GE appliances, washers and dryers, stone countertops and tile backsplashes. Communal amenities will include a saltwater pool, grilling area, 5,000-square-foot clubhouse, cyber café, fitness center, playground and a dog park. Caleb Troop, Ron Corrao and Eric Liebich of Capstone represented the buyers in the land transaction.
WINSTON-SALEM AND GREENSBORO, N.C. — Cushman & Wakefield has acquired Triad Commercial Properties, a commercial real estate brokerage firm with offices in Winston-Salem and Greensboro. Hap Royster and Tom Townes founded Triad Commercial Properties in 1999. The firm has arranged sales in 39 states and 10 countries, having experience in areas such as tenant and landlord representation, property disposition, buyer representation, sale-leaseback transactions, portfolio review and analysis, market analysis and build-to-suit analysis in a brokerage and advisory role. Royster, who served as managing partner for the firm, will join Cushman & Wakefield as vice chairman. The terms of the acquisition were not disclosed.
CHARLOTTE AND MOORESVILLE, N.C. — Greystar has purchased two apartment communities in the Charlotte market totaling 660 units. Boca Raton, Fla.-based Waypoint Real Estate Investments sold the properties, Barrington Place in Charlotte’s University City district and Waterlynn Ridge in Mooresville, to Charleston-based Greystar. The sales price was not disclosed, but the Charlotte Business Journal reports that the Class A communities traded for a combined $121 million. Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn of JLL represented Waypoint in the transaction. Andy Scott and Cory Fowler of JLL arranged acquisition financing on behalf of Greystar.
KANSAS CITY, MO. — Nuveen Global Investments LLC, a TIAA company, has acquired a six-property industrial portfolio in the Southeast for $272 million. McCraney Property Co. and Northwestern Mutual sold the 3.5 million-square-foot portfolio, which was built on a speculative basis. Chris Riley, Frank Fallon, and Trey Embrey of CBRE represented the sellers, Northwestern Mutual and McCraney Property Co., in the transaction. The portfolio features four Florida properties, including Country Line Logistics Center, which totals 1.1 million square feet in Plant City; Park 27, which spans 602,972 square feet in Davenport; 27 Logistics Park, which comprises 207,676 square feet in Davenport; and I-4 Commerce Center, which totals 45,340 square feet in Lake Mary. The remaining two properties are the 611,698-square-foot 985 Lanier Logistics in Buford, Ga.; and the 350,687-square-foot Airport South in Charlotte. All six buildings were fully leased at the time of sale.
TEANECK, N.J. — Teaneck-based FriedLam Partners has bought a six-property multifamily portfolio in Charlotte, Raleigh and Atlanta for $85.2 million. The portfolio comprises 872 units. The two Charlotte properties are the 192-unit 59Twenty @ Monroe and the 196-unit Two20 @ Branchview. The community in Raleigh was the 176-unit Enclave @ Crabtree. Watson Bryant and Paul Marley of Cushman & Wakefield represented the seller of the North Carolina properties, JEM Holdings, in the transaction. The Atlanta portion of the portfolio comprises the 130-unit 743 @ Howell Mill, the 112-unit Lenox Place and the 66-unit Rio at Lenox. Travis Presnell and Wesley Kenney of Cushman & Wakefield represented the seller, Zavala Capital Group, in the transaction.
GREENSBORO, N.C. — Publix Super Markets Inc. will expand its Greensboro distribution center by 1.2 million square feet, adding a dry grocery warehouse. The Lakeland, Fla.-based grocer broke ground on Phase I of the facility, which will offer refrigerated warehouse space, in February. Both phases are expected to be complete by the end of 2022. The warehouses will support Publix’s growth in North Carolina and Virginia. Gray is the engineer, general contractor and designer for the facility. This will be Publix’s 10th distribution center, joining facilities in Boynton Beach, Deerfield Beach, Jacksonville, Miami, Lakeland, Sarasota and Orlando, Fla.; Lawrenceville, Ga.; and McCalla, Ala.