Author: Chris Martin

The Bissell Cos. has started work on a new, speculative 10-story office building at Ballantyne Corporate Park that is expected to deliver in November of 2016. The Brigham building, named in memory of Dr. Craig Brigham, will total 287,507 square feet and will be located on North Community House Road, where the park’s helipad is currently located, next door to the Calhoun building. It will match the Gragg and Woodward buildings, which are now occupied by MetLife Inc. Bissell started those two buildings…

FullCapitalStack, a Charlotte real estate crowfunding platform, has completed a $1.7 million equity raise for a 27-unit townhome development in SouthPark. Earlier this summer I wrote about Saratoga Asset Management’s plans to raise equity for the SouthPark City Homes project by working with FullCapitalStack, which was launched in January by QuietStream Financial. The firm listed Saratoga’s deal on its site, offering accredited investors the opportunity to make investments in the project starting…

Development firms Delray Ventures and The Boulevard Co. have started construction on a boutique 82-unit apartment complex in uptown Charlotte. The project, called Cedar Flats, will be located on a 1.2-acre site on North Cedar Street, near the intersection of West Fifth Street. “Cedar Flats will provide its residents with a more intimate setting over the traditional 200-plus unit complexes that have flooded the Charlotte apartment market,” said Daniel Jimenez, principal with Delray Ventures…

CNL Commercial Real Estate has won the leasing assignment for the 121 West Trade building in uptown Charlotte. The 32-story office tower totals 330,000 square feet and is approximately 73% occupied. The largest tenant at 121 West Trade is Chicago Bridge & Iron Co., which occupies approximately 117,000 square feet, or about a third of the building, in a lease that expires in 2018. The Dilweg Cos. acquired the building with Greenfield Partners in 2013 for $59.6 million. CNL has been managing the…

Bell Partners Inc., the Greensboro-based apartment firm that recently sold a SouthPark complex for nearly $50 million, has purchased a 210-unit complex in south Charlotte for $50.5 million. The company has acquired Hawfield Farms, an apartment community off Ardrey Kell Road, near the intersection of U.S. 521. Bell Partners has renamed the community Bell Ballantyne. The garden apartment complex property was formerly owned by a company controlled by MetLife and was 96% occupied at the time of sale. The…

Despite disgruntled neighbors who toted signs at Charlotte City Council’s meeting Monday night, council members voted to approve a rezoning request that clears the way for a residential development at the intersection of Park and Sharon roads, according to WSOC-TV. The planned project includes 18 townhomes as well as 36 apartments, the TV station reports. Area residents’ concerns include added traffic at an already busy intersection. Council member Kenny Smith, however, said the developer has…

In the early 1990s, Rob Pressley didn’t believe in South End. Pressley remembers standing with his father, Tony, at the corner of Tremont Avenue and South Boulevard in 1992. The elder Pressley was explaining his vision for the neighborhood and, more specifically, for Atherton Mill, the former cotton mill complex on South Boulevard. Rob was working for a company that handled the environmental cleanup of contaminated properties and wasn’t particularly happy. His father had invited him to come…

A new grocery store may be in the works for a mixed-use development in the Ballantyne area. York Development Group, working with executives at Red Ventures, is seeking a rezoning for the 13-acre Colinayre development at the southwest corner of Providence Road West and Johnston Road that would allow for a 29,896-square-foot grocery store in the middle of the site. York Development Group has already started site work at the development, which will include a new office building for Bank of North Carolina,…

Greensboro-based general contractor Samet Corp. has relocated its Charlotte office to the Carnegie X building in SouthPark, taking 5,600 square feet in the building. Samet was previously located at 1315 East Boulevard and has doubled its space with the move. The company has 43 employees in Charlotte, and Charles Blankinship, market development manager, says Samet needed additional space as its business continues to grow. Samet is the 13th largest Charlotte-area general contractor, according to…

It’s been nearly 10 years since home builders have been this confident about the housing market. The Housing Market Index, which is based on a survey by the National Association of Home Builders, rose 1 point to 61 this month, its highest level since November 2015. Builders were asked about current sales of new single-family houses, sales expectations for the next six months, and traffic of prospective buyers. Two components — current sales and buyer traffic — were up, while sales expectations…