North Carolina

Flagship Healthcare Purchases Three Medical Office Buildings Totaling 88,000 SF in Hickory, North Carolina

by Alex Tostado June 17, 2020

HICKORY, N.C. — Flagship Healthcare Properties has purchased three medical office buildings totaling 88,000 square feet in Hickory. The buildings were 96 percent leased at the time of sale to tenants including the Veteran’s Administration Hickory Outpatient Clinic (25,920 square feet), A Woman’s View (20,470 square feet) and practices associated with Frye Regional Medical Center (19,923 square feet). The VA is located at 2440 Century Place SE, 50 miles north of downtown Charlotte. A Woman’s View is located at 915 Tate Blvd. SE, and Frye Regional Medical Center is situated at 420 N. Center St. Flagship Healthcare will provide property management services at the Hickory portfolio. First Horizon Bank provided acquisition financing. The seller(s) and sales price were not disclosed.

June 17, 2020

Acquisitions Multifamily North Carolina Southeast

Newmark Knight Frank Negotiates Sale of 250-Unit Multifamily Community in Raleigh

by Alex Tostado June 16, 2020

RALEIGH, N.C. — Newmark Knight Frank (NKF) has negotiated the sale of Hawthorne at the Trace, a 250-unit multifamily community in Raleigh. The property was built in 1995 and offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, playground, dog park, valet trash pickup, picnic area, grilling area, fitness center and a clubhouse. The asset is located at 8224 Green Lantern St., 10 miles northwest of downtown Raleigh. Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon of NKF represented the seller, Hawthorne Residential Partners, in the transaction. NKF’s Debt & Structured Finance team arranged financing on behalf of the buyer, KnightVest, which bought the community for an undisclosed price. The terms of the loan were also not disclosed.

June 16, 2020

Acquisitions Industrial North Carolina South Carolina Southeast

Albany Road Real Estate Sells Industrial Portfolio in Metro Charlotte for $75.5M

by Alex Tostado June 12, 2020

CHARLOTTE, N.C. — Albany Road Real Estate Partners has sold an industrial portfolio comprising four properties in metro Charlotte for $75.5 million. The first property, Overlook 77, totals three buildings at 5521 Lakeview Road in Charlotte. The portfolio includes two parks on the north side: International Corporate Center, a five-building property located at 4601 Corporate Drive in Concord, and the three-building Lakefield Corporate Center located at 307 Oates Road in Mooresville. The final property is the two-building SouthCross Corporate Center in Rock Hill, S.C. The property is situated at 3042 SouthCross Blvd., 21 miles southwest of downtown Charlotte. Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, and Grayson Hawkins of CBRE represented the seller in the transaction. The buyer, CIP Real Estate, retained Anne Johnson and Bryan Crutcher of CBRE to handle leasing efforts for the portfolio.

June 12, 2020

Development Industrial North Carolina Southeast

Prime Beverage Group to Invest $68M for New Manufacturing Facility in Metro Charlotte

by Alex Tostado June 10, 2020

KANNAPOLIS, N.C. — Prime Beverage Group will invest $68 million in a manufacturing facility in Kannapolis that will create 231 jobs. The 300,000-square-foot property will include warehouse space and will have the capability of packing 1,500 cans per minute. The property will be located at 1858 Kannapolis Parkway, 21 miles northeast of downtown Charlotte. Among the positions Prime Beverage will add in the Cabarrus County facility are technicians, sales, operations and managerial personnel with an average annual salary of $65,900. According to North Carolina Gov. Roy Cooper’s office, the current average annual wage in Cabarrus County is $38,892. Funding for the project is coming in part from the state’s Economic Investment Committee, which approved a 12-year Job Development Investment Grant. The grant authorizes the potential reimbursement of up to $2.4 million if the company meets its hiring goal. Prime Beverage is a beverage co-packing company that will contract with brand name beverage companies to mix and package their canned drinks. A timeline for construction was not disclosed.

June 10, 2020

Industrial Leasing Activity North Carolina Southeast

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

Newer Posts

Older Posts