North Carolina

Circle Graphics to Fully Occupy 153,990 SF Industrial Building in Triangle

by Alex Tostado June 9, 2020

MOORESVILLE, N.C. — Circle Graphics has signed a lease to fully occupy Woodlake 501, a 153,990-square-foot industrial building in Mooresville. The property is located at 501 Innovation Ave., equidistant to Raleigh and Durham. The large-format, digital graphics producer will move into the space in October, according to Battista Orcino, vice president of leasing and development for Duke Realty, the landlord of Woodlake 501. Ernest Packaging currently occupies the asset but its lease is expiring soon, says Orcino. Lee Holder and Chris Wiley of Colliers International represented the tenant in the lease negotiations. Larry Lakins, Hunter Willard and Andrew Young of Cushman & Wakefield represented the landlord.

June 9, 2020

Development North Carolina Retail Southeast

Halpern Delivers Publix-Anchored Shopping Center in Oak Island, North Carolina

by Alex Tostado June 4, 2020

OAK ISLAND, N.C. — Halpern Enterprises has delivered Oak Island Market Place, a 35,800-square-foot, Publix-anchored property in Oak Island. Publix occupies 28,800 square feet. The remaining restaurant and retail space is available for lease. The property is situated at 5001 E. Oak Island Drive, 36 miles south of downtown Wilmington. This is the ninth shopping center Halpern has developed or redeveloped with a Publix anchor and the fourth in North Carolina.

June 4, 2020

Development Healthcare North Carolina Office Southeast

Healthcare Company Grail to Invest $100M in New Cancer Center in Durham

by Alex Tostado June 3, 2020

DURHAM, N.C. — Grail Inc. will invest $100 million at a new laboratory facility in Durham’s Research Triangle Park, a project that is expected to create about 400 new jobs. Menlo Park, Calif.-based Grail will be able to detect more than 50 types of cancer from a single blood sample at the facility. The average salary at the cancer center will be in line with Durham’s average household income of $71,756 per year, according to North Carolina Gov. Roy Cooper. Over the course of 12 years, the project is estimated to grow the state’s economy by $1.2 billion. The North Carolina Economic Investment Committee approved a Job Development Investment grant, which authorizes the potential reimbursement of $5.2 million to Grail if the company meets specific job creation measures and investment targets. This will mark Grail’s first production lab outside of California. Jay Phillips, Wayne Kumagai, Ben Stern and Doug Brock of Newmark Knight Frank (NKF) represented Grail in the land transaction. Alan Reeves, Joe Gioino, Ramya Sannananjegowda and Bob Hess, also of NKF, advised the buyer on the site selection. A timeline for construction was not disclosed.

June 3, 2020

Company News Healthcare North Carolina South Carolina Southeast

CVS Adds 70 COVID-19 Testing Sites in Carolinas

by Alex Tostado May 29, 2020

WOONSOCKET, R.I. — CVS/pharmacy has added 55 COVID-19 testing sites in North Carolina and 15 sites in South Carolina. The tests are accessible through appointments only. Patients will be required to stay in their cars and will be directed to the pharmacy drive-thru window, where they will be provided with a test kit and given instructions. A CVS team member will observe the self-swab process to ensure it is done properly. Tests will be sent to an independent, third-party lab for processing and the results will be available in approximately three days. In North Carolina, the 55 new sites are located in 29 cities, including seven sites in Charlotte, five in Raleigh, four in Cary, four in Durham, three in Fayetteville and three in Winston-Salem. In South Carolina, the locations are in Anderson, Charleston, Clemson, Columbia, Greenville, Mount Pleasant, Myrtle Beach, North Charleston, North Augusta, Spartanburg and West Columbia. With the 70 locations, Woonsocket-based CVS has now opened 986 testing sites in the country. Click here to see a full list of the locations.

May 29, 2020

Development Industrial North Carolina Southeast

Merritt Properties Acquires 51 Acres in Durham to Build Four-Building Industrial Park

by Alex Tostado May 22, 2020

DURHAM, N.C. — Merritt Properties has acquired 51 acres in Durham for Merritt TW Crossing, a planned four-building, 282,400-square-foot industrial park near Research Triangle Park. Merritt expects to deliver the asset in the fourth quarter of this year. The four buildings will range in size from 36,120 to 106,100 square feet. The land is situated at 3100 S. Miami Blvd., seven miles south of downtown Durham. The buildings will offer 18- to 24-foot ceiling heights, 110- to 180-foot truck courts, dock-high and drive-in doors and free surface parking. Merritt Construction Services is the general contractor. Ann-Stewart Patterson and Austin Nagy of CBRE | Raleigh will handle leasing efforts on behalf of the owner.

May 22, 2020

Acquisitions North Carolina Office Southeast

Cushman & Wakefield Arranges $58.5M Sale of Office Building in Charlotte

by Alex Tostado May 15, 2020

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the $58.5 million sale of a 182,169-square-foot office building in Charlotte. Corning Optical Communications fully leases the building and has 14 years remaining on the lease. The building offers employee lounges, outdoor patio seating areas, a café with grab-and-go options and on-site walking trails. The property is situated near the intersection of Interstate 485 and N.C. Highway 16, 10 miles northwest of downtown Charlotte. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, Beacon Partners, in the transaction. An affiliate of Costa Mesa, Calif.-based Crown Realty & Development acquired the property in an all-cash deal.

May 15, 2020

Industrial Leasing Activity North Carolina Southeast

Dogwood Industrial Properties Inks Two Leases Totaling 90,180 SF in Charlotte

by Alex Tostado May 15, 2020

CHARLOTTE, N.C. — Dogwood Industrial Properties has signed two industrial leases totaling 90,180 square feet at 5130 Hovis Road in Charlotte. An undisclosed Fortune 500 company signed a 66,430-square-foot lease and Plazit Polygal signed a 23,750-square-foot lease. Dogwood Industrial Properties acquired the 166,980-square-foot property in November when it was 34 percent leased. With the recent signings, the building is now fully occupied. The asset sits on seven acres two miles from Interstate 85 and four miles from I-77. The property features a fenced truck court, 20-foot clear ceiling height, new ESFR sprinklers and an existing CSX rail spur with rail doors. Plazit Polygal North America specializes in manufacturing thermoplastic sheets. Matt Treble, Eric Ridlehoover and Patrick McGrath of Cushman & Wakefield represented the landlord in the transaction.

May 15, 2020

Industrial Leasing Activity North Carolina Southeast

CBRE|Raleigh Negotiates 93,685 SF Industrial Lease Near Durham for Furniture Company

by Alex Tostado May 14, 2020

BUTNER, N.C. — CBRE|Raleigh has negotiated the 93,685-square-foot industrial lease for Nugget, a manufacturer specializing in creating furniture that can be transformed into entertainment for children. The property, Falls Lake II, is situated at 200 Business Park Drive, 14 miles north of downtown Durham and less than one mile from Interstate 85. Austin Nagy of CBRE|Raleigh represented the tenant in the transaction. Foundry Commercial represented the landlord, NWI Butner LP.

May 14, 2020

Acquisitions Industrial Leasing Activity North Carolina Southeast

JLL Negotiates Sale-Leaseback of 126,363 SF Industrial Property in Metro Charlotte

by Alex Tostado May 12, 2020

HARRISBURG, N.C. — JLL has negotiated the sale-leaseback of a 126,363-square-foot industrial building in Harrisburg fully leased to Wilbert Plastic Services. The single-story building is situated on 16 acres at 7301 Caldwell Road, 13 miles northeast of downtown Charlotte. The buyer, AIC Ventures, executed a new long-term lease with Wilbert Plastic Services upon completion of the sale. Wilbert Plastic Services is headquartered in Belmont on the other side of Charlotte and specializes in thermoforming and injection molding. Pete Pittroff, Patrick Nally, Val Derrick and Dave Andrews of JLL represented the seller in the transaction. The sales price was not disclosed.

May 12, 2020

Acquisitions Multifamily North Carolina Southeast

Newmark Knight Frank Negotiates Sale of 288-Unit Multifamily Community in Durham

by Alex Tostado May 11, 2020

DURHAM, N.C. — Newmark Knight Frank (NKF) has negotiated the sale of Southpoint Crossing, a 288-unit multifamily community in Durham. The property offers one-, two- and three-bedroom floor plans ranging from 635 to 1,301 square feet. The asset was 96 percent occupied at the time of sale. Communal amenities include a 24-hour fitness center, pool with lounge, a 24-hour business center, grilling area with picnic tables, playground, dog park and Amazon Hub package lockers. The seller, New York City-based Duck Pond Realty, upgraded several unit interiors with new appliances, resurfaced counters and faux-wood flooring in kitchens and bathrooms. The community is located at 1800 Southpoint Crossing Drive, seven miles south of downtown Durham. Toronto-based Starlight Investments purchased the property for an undisclosed amount. Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon of NKF represented the seller in the transaction.

May 11, 2020

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