Speaking on a panel this week, Charlotte real estate developers said they see plenty of room for growth before the next economic downturn. But they remain concerned about North Carolina’s lack of action on economic-development incentives.
The panelists spoke about the state of the commercial real estate market at the Interface Carolinas conference Wednesday at the Charlotte Convention Center.
Just prior to the panel discussion, Wells Fargo economist Mark Vitner, using a baseball analogy, said…Charlotte developers see more room for growth but are concerned about N.C. incentives
Speaking on a panel this week, Charlotte real estate developers said they see plenty of room for growth before the next economic downturn. But they remain concerned about North Carolina’s lack of action on economic-development incentives.
The panelists spoke about the state of the commercial real estate market at the Interface Carolinas conference Wednesday at the Charlotte Convention Center.
Just prior to the panel discussion, Wells Fargo economist Mark Vitner, using a baseball analogy, said…
Dimensional Fund Advisors, an investment firm based in Austin, Texas, is eyeing Charlotte for an East Coast operation, and the company is working with real estate firm Cousins Properties Inc. on a build-to-suit office project that could total more than 100,000 square feet, according to real estate sources.
DFA is considering Charlotte for a hub that could grow to several hundred employees over time, sources say, and it is in talks to lease a couple of floors at the Fifth Third Center building uptown,…
Trinity Capital Advisors and its joint-venture partners are listing the six-building Toringdon office park in south Charlotte for sale.
The development on Johnston Road at Interstate 485 totals 519,602 square feet and is owned by a joint venture that includes Trinity, Stockbridge Capital Group and Madison International Realty.
Toringdon is approximately 88% occupied, and the Charlotte office of investment sales firm HFF will begin marketing the park for sale later this month. An undeveloped 4-acre…
Liberty Property Trust has started work on a new, 170,100-square-foot warehouse in the Shopton Ridge industrial park in southwest Charlotte.
The building is expected to deliver in mid-November, allowing the company to keep up with anticipated demand, executives say. Liberty purchased three buildings at Shopton Ridge in 2012 for $16 million. And last year, the company bought a fourth building for $6.8 million, plus 68 acres of undeveloped land for $2 million.
Liberty’s buildings at Shopton Ridge…
Hamilton Point Investments has closed on its $13.4 million purchase of Cushendall Commons, a 168-unit apartment property in Rock Hill, a spokeswoman for the Connecticut-based firm says.
The complex, built in 2002, is off Interstate 77 near Dave Lyle Boulevard, about 24 miles south of uptown Charlotte. At the time of the sale, the complex was 98.1 percent occupied, according to a news release.
Hamilton Point, a real estate private-equity firm, says “modest” interior and exterior upgrades are…
Childress Klein started work this month on a new 42-story apartment tower over the Mint Museum, after purchasing the air rights for the project for $18.1 million from Wells Fargo & Co.
As we first told you last year, the 393-unit tower will rise 31 stories above the museum, adding a long-planned residential component to the Levine Center for the Arts cultural campus.
Wachovia originally planned to build a condo tower above the Mint, and in addition to the air rights, Childress Klein’s purchase…
Beacon Partners has secured $58 million in debt financing from TIAA-CREF for eight industrial properties in the Carolinas totaling 1.6 million square feet.
Jon Morris, a partner with Beacon, says the firm wanted to take advantage of low interest rates and secure long-term financing for the buildings, which are 100% leased. TIAA-CREF provided a 15-year, fixed-rate loan for the portfolio.
Beacon’s industrial portfolio totals 6.5 million square feet, and the firm may pursue additional rounds of…
MetLife Inc. is taking another floor at the Woodward building in Ballantyne Corporate Park.
The insurance giant (NYSE:MET) has exercised its option to lease the building's sixth floor, which totals 28,371 square feet. When it moves into the space, MetLife will occupy 16 floors at the twin 10-story Gragg and Woodward buildings.
A MetLife spokesman could not be reached for comment.
The top four floors at Woodward remain available for lease, according to The Bissell Cos., which declined to comment.…
Local custom homebuilder Grandfather Homes is bringing a touch of West Coast style to the Charlotte housing market.
The company has recently launched construction of its first duet in the city’s Dilworth neighborhood — a concept that is new for Grandfather Homes as well as the local market, the company says, though it is common in California.
Duets feature two individually owned homes in a single structure — similar to both a duplex and a townhome but with its own distinctions:
“A duplex…
The city of Charlotte has received another upset bid for an uptown parcel it owns at the intersection of Caldwell and Stonewall streets.
Charlotte apartment firm Northwood Ravin has agreed to pay $14.15 million for the 3.76-acre tract, according to Tony Korolos, director of the city’s real estate division. The firm is planning a project up to eight stories tall featuring 400 apartment units and 50,000 square feet of office and retail space, he says.
Prior to the Northwood Ravin bid, apartment…