MT. JULIET, TENN. AND STATESVILLE, N.C. — GTIS Partners has purchased two warehouses located in Tennessee and North Carolina for more than $100 million. Together, the properties comprise 943,030 square feet. The seller(s) was not disclosed. Located in the Nashville suburb of Mt. Juliet, the first warehouse, Midway 840, totals 643,410 square feet and was leased to a global third-party logistics company at the time of sale. The second warehouse is located at 607 Meacham Road in Statesville, which is roughly 40 miles north of Charlotte, and totals 309,620 square feet. Dura Supreme, a Minnesota-based cabinet manufacturer, occupies 607 Meacham Road. The site features an additional 105,000 square feet for potential development.
CHARLOTTE, N.C. —Atlanta-based RangeWater has acquired 3.8 acres in Charlotte’s Lower South End for the development of The Kingsman, a 350-unit multifamily community. Located at 4700 Nations Crossing, the community will include apartments in studio, one-, two- and three-bedroom layouts ranging from 543 to 1,519 square feet. Amenities will include a dog park and spa, pool, clubroom, coworking spaces, micro-offices, outdoor grills and fireplaces, a fitness center and a sky lounge. Construction is scheduled to begin this month, with move-ins expected to begin in April 2025. This marks RangeWater’s ninth development in the Charlotte market.
FORT MILL, S.C. — A partnership between Highline Real Estate Partners and Growth Capital Partners (GCP) has acquired an industrial warehouse located at 4140 Pleasant Road in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2013, the building totals 478,400 square feet on 53.4 acres, with eight acres available for expansion. Child safety product manufacturer Britax Child Safety Inc. occupies the property, which was constructed as a build-to-suit project for the company and features 40,000 square feet of office space and a 49,560-square-foot air-conditioned component test area. GCP arranged the purchase on behalf of the partnership, which plans to develop an additional 200,000 square feet at the property. Casey Masters of Cushman & Wakefield represented the seller, an entity doing business as Charlotte IND TT LP, in the transaction.
MCLEAN, VA. — Sunrise Senior Living has opened Sunrise of McLean Village, a seniors housing community located at 1515 Chain Bridge Road in McLean, roughly 15 miles outside Washington, D.C. Comprising 90,000 square feet, the three-story property has the capacity for more than 120 residents and offers assisted living and memory care accommodations. Amenities at the community include a dining room and bistro with a bar, fitness center, library, two sunrooms, an activity room, hair and nail salon and a massage room. The property also features five covered porches, a large outdoor terrace, two rooftop terraces and a public-private garden. Rust | Orling Architecture served as architect, and The Whiting-Turner Contracting Co. was the general contractor for the project.
FORT MILL, S.C. — Knightvest Capital has acquired The Apartments at Brayden, a 332-unit, garden-style multifamily community located in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2016, the property comprises apartments in one-, two- and three-bedroom floor plans. Amenities at the community include a swimming pool, fitness center and clubhouse. The Apartments at Brayden marks Knightvest’s fifth acquisition in metro Charlotte since 2020.
VIERA, FLA. — WS Development and PGIM Real Estate have acquired The Avenue Viera, a 550,000-square-foot, open-air retail center located directly off I-95 in Viera. Situated within the 43,000-acre master-planned Viera community in Brevard County, the property houses more than 80 retail, restaurant and entertainment tenants, including AMC Theatres, Belk, Chili’s, Cost Plus World Market, Kohl’s, lululemon athletica, Moe’s Southwest Grill, Old Navy, Sephora and Urban Air Adventure Park. Massachusetts-based WS Development will assume management of the center and will share ownership with PGIM, which has owned Avenue Viera since 2006. The sales price was not disclosed. WS Development and PGIM plan to remerchandise the center, as well as host events and install public art.
STONECREST, GA. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest, which is located roughly 15 miles east of Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. Stonecrest SeaQuest, an interactive aquarium destination, anchors Phase I of the development. Bay Mountain Capital has provided $8.3 million in financing for the next phase: the addition of a 40,000-square-foot food hall on the property’s second level. Concepts will include Atlanta Breakfast Club, The Original Hot Dog Factory, Dope Coffee, a craft bar, golf simulator suites, a daiquiri bar and a fine-dining restaurant. Construction is scheduled to begin this quarter, with openings beginning in spring of next year. Plans for the site also include a 10,000-square-foot history and cultural center.
ELKTON, MD. — Electric bikes manufacturer and distributor Metalrays LLC has signed a 109,192-square-foot lease in Elkton. The space is located within 1003 Konica Drive, a single-story warehouse/industrial and office building spanning 263,000 square feet. Metalrays’ tenancy brings the building, which features 36-foot ceiling heights, 27 loading docks and two drive-in docks and 150 parking spaces, to roughly 40 percent occupancy. Ned Brady and Eric Skogmo of Lee & Associates|Maryland represented Metalrays in the lease negotiations, and Michael McConnell represented the landlord, McConnell Development, on an internal basis.
WASHINGTON, D.C. — Urban Atlantic, Triden Development Group, Hines and joint venture partner Bridge Investment Group have opened Common Clover, a fully furnished, 248-room co-living building in Washington, D.C. Situated within The Parks at Walter Reed, a 66-acre mixed-use redevelopment, the property features suites with two to five private bedrooms, fully stocked kitchens, multiple bathrooms and in-unit laundry. Amenities include coworking space, a library, rooftop deck, courtyard with grilling stations, fitness center, game room and club lounge with a bar. The building also includes 21,000 square feet of ground-floor retail space. Rental rates start at $1,207 for a 116-square-foot studio, according to Apartments.com.
LAWRENCEVILLE, GA. — Anchor Health Properties has acquired a 40,000-square-foot medical office building in Lawrenceville, roughly 30 miles outside Atlanta. Located at 595 Hurricane Shoals Road N.W. in Gwinnett County, the property was fully leased at the time of sale to tenants including anchor Northside Health, Fresenius Medical Care, Georgia Nephrology, Palmetto Infusion, Amedisys Home Health and Gwinnett Pediatrics. Anchor’s acquisition also included an adjacent outparcel, and the company has announced plans to develop a three-story, 40,000-square-foot medical office building at the site. Construction is scheduled to begin in the fourth quarter of this year, and Women’s Group of Gwinnett has committed to occupy 16,000 square feet upon completion. Michael Lipton and Josh Gregory of Colliers’ Atlanta office represented Anchor in the transaction. The team also represented Women’s Group Georgia in leasing negotiations. Brandon Wallace of Meadows & Ohly represented the undisclosed seller, and Wintrust Bank provided debt financing services. The sales price and loan amount were not disclosed.