CHARLOTTE, N.C. — Simon Property Group Inc. and Tanger Factory Outlet Centers Inc. have teamed up to break ground on Charlotte Premium Outlets, an upscale, 400,000-square-foot outlet mall in Charlotte. The new property will be located eight miles southwest of uptown Charlotte at the interchange of Interstate 485 and Steele Creek Road. The new outlet mall is expected to employ about 900 full- and part-time employees and add more than 400 local construction jobs during development. More than 90 brands are expected to have a presence at the new development, including Saks Fifth Avenue OFF 5th. The project is a 50/50 joint venture between Simon and Tanger. Simon is providing management services and marketing for the mall, and Tanger is providing site development and construction supervision.
GREENSBORO, N.C. — Owings Mills, Md.-based Black Oak Associates has purchased Hicone Shopping Center, a 90,000-square-foot, grocery-anchored center in Greensboro for $7.2 million. Food Lion and CVS/pharmacy anchor the development, which is located at the intersection of Hicone and Rankin Mill roads, near downtown Greensboro. The property is about 85 percent occupied and includes pad acreage sites for future development. Nancy Cox of NAI Piedmont Triad is the leasing agent for the shopping center. Ed Laycox of West, Lane & Schlanger represented the seller, Hicone Properties LLC, in the transaction. John Hancock Life Insurance Co. provided acquisition financing for the transaction.
FRANKLIN, VA. — Severn Peanut Co. has purchased a 154,982-square-foot industrial facility in Franklin for $2.4 million. The facility is located on a 40-acre site at 32126 General Thomas Highway. The buyer will use the former paper converting facility as an additional peanut processing facility. Robert Thornton of Cushman & Wakefield | Thalhimer represented the seller, International Paper Co., in the transaction.
NORTH CHARLESTON, S.C. — New York-based URS Capital Partners has acquired St. James Crossing, a 280-unit apartment complex in North Charleston. In order to appeal to the nearby expansion of a Boeing facility, URS will renovate and position the apartment complex as an affordable living option for entry-level Boeing employees and middle management. New York-based DJ Capital provided a bridge loan and joint venture equity for the transaction.
WAYNESBORO, GA. — UC Funding has provided a $5.5 million acquisition bridge loan on a 475,000-square-foot industrial complex in Waynesboro, about 29 miles south of Augusta. The property is pre-leased to Stone & Webster Construction, a wholly owned subsidiary of Chicago Bridge & Iron. The property features five single-story warehouse buildings. The sponsor hopes to renovate the property and increase the occupancy, which is now at 20 percent, according to UC Funding.
DOUGLASVILLE, GA. — Industrial parts supplier McMaster-Carr has acquired 112 acres at Riverside at Sweetwater Creek, a 309-acre business park in Douglasville. The company, which currently operates buildings in northwest Atlanta, will consolidate its operations in a new 700,000-square-foot facility. The property will serve as an e-commerce fulfillment center for the products the company supplies to manufacturing plants and additional commercial facilities. McMaster-Carr has received city approval to expand the building to 1 million square feet. General contractor Holder Construction Co. will begin construction before the end of the month, with development expected to take 18 months. Marks Hawks and Scott McGregor with CBRE represented Riverside at Sweetwater Creek's owner, NMR&G LLC, in the land acquisition. Sim Doughtie of King Industrial Realty Inc. represented McMaster-Carr. The business park's development partners include Charles Brewer, Sam Hatcher and Ron Orr.
DELRAY BEACH, FLA. — HFF has arranged $46 million in financing for The Plaza at Delray, a 328,989-square-foot, grocery-anchored shopping center in Delray Beach. Eric Tupler, Chris Drew, Kristian Lichtenfels and Leon McBroom of HFF arranged the 10-year loan through Allianz Real Estate Of Americas on behalf of the borrower, Heitman and Ramco-Gershenson Properties Trust. The center is nearly 98 percent leased to tenants such as Publix, Marshalls, Ross Dress for Less, T.J. Maxx, CVS/pharmacy, Michaels, Anna's Linens and Ulta Salon.
KNOXVILLE, TENN. — Crossman & Co., an Orlando-based real estate services firm, has arranged the sale of Northshore Town Center, a 78,306-square-foot, grocery-anchored retail development in Knoxville. Publix anchors the development, which was built in 2012. A private group purchased the property from the original developer, Knoxville-based CHM LLC. John Zielinski and Brian Carolan of Crossman & Co. handled the transaction.
HUNTERSVILLE, N.C. — Whole Foods Market has signed a lease at Northcross Commons, a 56,120-square-foot shopping center in Huntersville, about 14 miles north of Charlotte. The shopping center is located on the northwest corner of the Interstate 77 and Sam Furr Road intersection. This will be Whole Foods' second store in the Charlotte MSA. Ryan Preston of Hawthorne Retail Partners Inc. represented the owner, Hawthorne Northcross LLC, in the lease deal. Bill Moseley of Moseley Retail Advisors represented Whole Foods. The Austin-based specialty grocer will occupy the space formerly housing Food Lion.
NORFOLK, VA. — CBRE | Hampton Roads has arranged the sale of Woodmere Trace Apartments, located at 6741 E. Tanners Creek Drive in Norfolk. An affiliate of Harbor Group International LLC sold the 300-unit, garden-style multifamily community to Washington, D.C.-based CPDC. Woodmere Trace is the buyer's first multifamily investment in the Hampton Roads area. The buyer plans to renovate the interiors of the apartment community, which was built in 1975. Dan Johnson and Hank Hankins of CBRE | Hampton Roads represented the seller in the transaction.