CHARLOTTE, N.C. — A partnership between Iconic Equities, Shoreline Capital, Overlook Ventures and LaSalle Investment Management has broken ground on Pineville Distribution Center, a 194,232-square-foot industrial facility in Charlotte’s Southwest submarket. The property is located on 15 acres at 10203 Pineville Distribution St. The ownership has tapped Bradley Dunn and Bill Wood of Trinity Partners to lease Pineville Distribution Center. The co-developers plan to deliver the facility in mid-to-late 2026. Physical features of the project were not released.
HEBRON, IND. AND KERNERSVILLE, N.C. — Agricultural and construction machinery company John Deere (NYSE: DE) plans to open two new industrial facilities in the United States. The developments include a distribution center near Hebron, Ind., and a manufacturing campus in Kernersville, N.C. John Deere recently broke ground on the 234-acre Indiana facility, which is designed to streamline operations and ensure timely delivery of equipment and parts. John Deere plans to invest $125 million to equip and development the 1.2 million-square-foot project, which is situated just off I-65. According to the company, the project is expected to create roughly 150 jobs in the state. Venture One Real Estate is developing the Indiana facility. The project team also includes Ware Malcomb as architect, Jacob & Hefner as civil engineer and Clayco as design builder. George Maragos of CBRE represented John Deere in its site selection. John Deere also operates its primary North American parts distribution center in the Midwest region in Milan, Ill. That facility has been in operation since 1973 and employs roughly 1,200 people. In Kernersville, a new $70 million manufacturing center will produce excavators for the construction market, assuming production activity that was previously conducted in Japan. The campus …
NASHVILLE, TENN. — AJ Capital Partners has obtained a $475 million construction loan for Belle Meade Village, a 15.5-acre retail and residential village underway in Nashville. Located on the border of Belle Meade, Tenn., the project is a redevelopment of an under-utilized shopping center. Raymond James Real Estate Investment Banking arranged the financing through Barings on behalf of AJ Capital. Belle Meade Village will feature 1 Iris Lane, The Residences at Belle Meade Village, which are a pair of two 46-unit condominium buildings. The condos have a starting price of $3 million and come in one- to four-bedroom layouts. Residents have access to 16,000 square feet of amenity space, including high-end fitness and wellness features and private wine and cigar rooms, among other attractions. The project also includes a five-acre private park and a central courtyard space with an antique carousel surrounded by a seven-building retail village that will feature local and global brands, a private members’ club and a boutique hotel. AJ Capital broke ground on Belle Meade Village last October, with plans to wrap up construction by 2028. The design-build team includes Meyer Davis (interior design for 1 Iris Lane), Brasfield & Gorrie (general contractor), Barge Civil Associates …
CANTON, GA. — The Milestone Group has purchased Legends at Laurel Canyon, a 266-unit, garden-style apartment community located at 100 Legends Drive in Canton, about 43 miles north of Atlanta. The seller and sales price were not disclosed. Built in 2020, Legends at Laurel Canyon offers one-, two- and three-bedroom units averaging 1,227 square feet in size. Amenities include a clubhouse, fitness center, resort-style saltwater pool, gated access, Amazon Hub Lockers, car care center, bike racks and a pet park and spa.
KNOXVILLE, TENN. — Marcus & Millichap has arranged the sale of an 86,584-square-foot store located at 5312 Washington Pike in Knoxville. Kohl’s has fully occupied the freestanding building on a triple-net lease since it was constructed in 1997. A Sephora store-within-a-store was added to the Kohl’s in 2023. The property is situated on 32.7 acres about eight miles from downtown Knoxville and the University of Tennessee. Andrew Antoniou and Dominic Sulo of Marcus & Millichap’s Chicago/Oak Brook office represented the undisclosed seller in the transaction. Jody McKibben served as Marcus & Millichap’s Tennessee broker of record for the deal. The buyer, a locally based investor, purchased the store for an undisclosed price.
HEBRON, KY. — Brennan Investment Group has acquired a 56,000-square-foot industrial facility located at 1010 Petersburg Road in Hebron, about two miles south of Cincinnati/Northern Kentucky International Airport. The facility is situated on more than five acres within Airpark International Corridor, a master-planned industrial park. The Chicago-based investment firm purchased the facility in a sale-leaseback deal with the tenant, a rubber and plastics manufacturer that has occupied the facility for more than 10 years. The sales price and lease terms were not disclosed.
WASHINGTON, D.C. — A partnership between Carr Properties and Barings has purchased a 12-story office building located at 1401 New York Ave. NW in downtown Washington, D.C. Eastdil Secured represented the undisclosed seller in the transaction. The sales price was also not disclosed. The new ownership plans to fully renovate the 211,500-square-foot building with a new enclosed amenity space on the rooftop, as well as upgrades to the office building’s lobby, fitness center and conference facilities. Current tenants at the LEED Gold-certified building include Boies Schiller Flexner, Capstone, Vedder Price and Nossaman.
DELRAY BEACH, FLA. — A joint venture between PEBB Enterprises and Cincinnati-based Topvalco Inc. has sold Delray Landing, a shopping center located at 5024-5070 W. Atlantic Ave. in Delray Beach. Sprouts Farmers Market anchors the shopping center, whose tenant roster also includes Retro Fitness, Keke’s Breakfast Café, CJ’s Sports Bar & Grill and Good Vets. An entity doing business as 30 Realty LLC purchased the shopping center for $30 million. Eric Williams and Cole Frantz of Newmark represented the seller in the transaction. During their ownership period, PEBB and Topvalco fully renovated Delray Landing to feature a new façade and roof and upgraded parking, lighting, signage and landscaping.
RALEIGH, N.C. — Tishman Speyer has acquired The Maggie, a 244-unit apartment community located at 401 Oberlin Road in Raleigh’s Village district. The property is situated on 2.8 acres adjacent to North Carolina State University. William Yowell, Kevin Kempf, Don Hoffman and Tai Cohen of CBRE brokered the transaction. The seller and sales price were not disclosed. Built in 2014, The Maggie features a unit mix ranging from studios to three bedrooms, as well as 9,000 square feet of street-level retail space. Amenities include a fitness center, outdoor saltwater pool, business center, lounge, golf simulator and a game room.
VIENNA, VA. — Cresa has arranged the $12 million sale of a vacant, 100,000-square-foot office building located at 901 Follin Lane in Vienna, about 17 miles west of Washington, D.C. Navy Federal Credit Union acquired the property from Zalco Commercial. Gene Sachs, Rich Rhodes and Dan Silverman of Cresa represented Navy Federal in the transaction. The property is situated on 9.1 acres across the street from Navy Federal’s headquarters and will be utilized for the time being as a parking lot. Future plans for the office building and surrounding land were not disclosed. The property has sat vacant for the past six years after being leased to an unnamed federal government tenant.