Life Time Fitness Inc. and the Charlotte-Mecklenburg Board of Education have purchased 24 acres and 10 acres, respectively, at the Rea Farms mixed-use development in south Charlotte for a planned fitness facility and K-8 magnet school.
Life Time, based in Minnesota, purchased a 24-acre site at the northeast corner of the 188-acre property, near the intersection of Providence Road and Allison Woods drive, for $6 million. The company plans to build a facility featuring an indoor/outdoor aquatic center,…Life Time Fitness, CMS purchase sites at Rea Farms for fitness facility, school
Life Time Fitness Inc. and the Charlotte-Mecklenburg Board of Education have purchased 24 acres and 10 acres, respectively, at the Rea Farms mixed-use development in south Charlotte for a planned fitness facility and K-8 magnet school.
Life Time, based in Minnesota, purchased a 24-acre site at the northeast corner of the 188-acre property, near the intersection of Providence Road and Allison Woods drive, for $6 million. The company plans to build a facility featuring an indoor/outdoor aquatic center,…
Charlotte real estate firm Lincoln Harris plans to start work this week on the second 10-story office building at its Capitol Towers development in SouthPark.
The north tower at Capitol Towers will mirror the south tower, which was completed in September and totals 240,000 square feet. Johno Harris, president at Lincoln Harris, says the building will take 12 to 13 months to complete and will likely deliver in the first quarter of 2017.
The first Capitol Towers building is 60% leased, and Lincoln…
Despite common belief and many obstacles, millennials could soon become major players for the residential, single family homes market.
Zillow.com (NASDAQ:Z), a real estate research website, conducted a poll about views on homeownership. In all but one category, the 18-to-34 age bracket expressed more favorable views than older generations.
Millennials were much more likely to report that owning a home is necessary to live the good life, provides more personal freedom and is necessary to be a respected…
A New York real estate investment trust has purchased the second phase of the Ashton Reserve apartment complex near Northlake Mall.
Bluerock Residential Growth REIT Inc. recently completed the acquisition of the second phase, which totals 151 units. The company paid $21.8 million, or $144,500 per unit, which Bluerock says compares favorably with pricing of $160,000 per unit for similar properties in the market.
In August, Bluerock purchased the first 322-unit phase of Ashton Reserve, located on…
Faison Enterprises has purchased a 5-acre site for $8.8 million in Optimist Park where the firm is planning a development with apartments and retail space.
The Charlotte real estate firm purchased the industrial property from the Wellmon family, which earlier this year won a transit-oriented, mixed-use zoning for 9 acres on the west side of North Davidson Street, along the Lynx Blue Line extension. The site is bounded by North Brevard Street, Charles Avenue, Matheson Avenue and Jordan Place.
Faison…
Crescent Communities plans to break ground on its Stonewall Station project in uptown Charlotte in early January. The company has scheduled a Jan. 6 groundbreaking ceremony for the mixed-use development, which will be anchored by a Whole Foods Market and will also include approximately 450 apartment units, two hotels and additional retail space.
In November, the Charlotte real estate firm closed on its purchase of a 3.6-acre site at the intersection of East Stonewall and South Caldwell streets,…
When it comes to apartment design, David Ravin believes the market will soon begin rewarding those projects that have made the extra effort.
Ravin is CEO of development firm Northwood Ravin, which is under contract to purchase a 3.76-acre city-owned site at the intersection of Caldwell and Stonewall streets. The city has said Northwood Ravin is planning a project up to eight-stories tall that will feature 400 apartment units and 50,000 square feet of office and retail space.
The sale is expected…
Camden Property Trust is planning a 28-unit rental townhome community for a 2-acre city-owned parcel between South Boulevard, East Morehead Street and Interstate 277.
The site is adjacent to the company’s Camden Grandview apartment complex and would utilize Grandview’s existing amenities, according to real estate records. The townhome development would be accessed from South Boulevard, and Camden is planning roadway improvements including a turn lane and a new driveway.
The property is one…
New York Life Real Estate Investors has purchased an 11-building portfolio at Water Ridge Office Park off West Tyvola Road for $115 million.
Mainstreet Capital Partners and Goldman Sachs Group Inc. listed the portfolio for sale this spring. The buildings at Water Ridge, formerly known as LakePointe Office Park, total 844,958 square feet and are 82% occupied by tenants that include The Vanguard Group, SunTrust Banks Inc., Carolinas HealthCare System, Publix Super Markets and Midrex Technologies Inc.
Built…
Bank of America Corp. has signed a 10-year lease renewal for its space at Gateway Village but appears to be downsizing a bit at the uptown Charlotte property.
Cousins Properties Inc., the Atlanta-based real estate investment trust that owns the 1.1-million square-foot property with the bank, announced today that BofA has signed a renewal for 922,684 square feet. The company had previously leased the entire property in a deal that was set to expire at the end of 2016.
“I’m delighted to announce…