Forestar makes huge land purchase in Huntersville area, buying nearly 230 acres for $11.8 million
Forestar Group Inc., a real estate and oil and gas company based in Texas, has purchased 229 acres of land just east of Huntersville for $11.8 million, according to real estate records.
The assemblage is between Ramah Church Road and Huntersville-Concord Road, between the Centennial at Historic Huntersville subdivision and the Oehler Nature Preserve, about two miles east of Huntersville. The bulk of the land, which is zoned for neighborhood residential, is on Fred Brown Road and was sold to Forestar…
Apartment development firm Terwilliger Pappas is evaluating a 3.5-acre site at the corner of South Boulevard and Remount Road in Charlotte's South End for a new multifamily complex.
The land at the corner of South and Remount is owned by a limited liability company called Cherokee Southline that is managed by Pappas Properties. Both Terwilliger Pappas and Pappas Properties are headed by developer Peter Pappas.
A Terwilliger Pappas spokesman says the development plans have been accelerated by the…
Here's an update to a story I wrote a year ago about Coliseum Center, the largely vacant retail center located on East Independence Boulevard: The downtrodden property has a new owner, but it's not the Texas firm that had it under contract back in February 2014.
Last year, FMOC, a Texas real estate investment firm, was under contract to buy the 218,000-square-foot Coliseum Center property and was planning $15 million in renovations for the center, including a new facade, new roofs, exterior lighting,…
Charlotte's apartment vacancy rate increased to 5.1% during the fourth quarter, up from 4.9% in the third quarter and 4.6% a year earlier, according to commercial real estate research firm Reis Inc.
It's the first time the local vacancy rate has risen above 5% since the end of 2012, according to the firm's data. At the end of 2012, the local vacancy rate stood at 5.3%, but it dropped below 5% for all of 2013 and through the first three quarters of 2014.
Nationally, the average vacancy rate was…
A Charlotte developer is planning a new residential project along Queens Road in Myers Park, near the intersection of Granville Road.
Residential developer Brian Speas of The Carnegie Co. is planning the project, called Nolen Place, for a 2-acre site at 1200 Queens Road. According to real estate filings, the developer is planning nine condo units with carports for approximately 1.3 acres on the side of the property closest to Granville.
Speas declined to comment on his plans, but the site, zoned…
Charlotte Center City Partners is taking more space in the 200 South Tryon building in uptown Charlotte and has extended its lease by an additional 10 years.
The organization, which promotes economic development in uptown Charlotte, is taking the entire 16th floor of the building, expanding from 7,413 square feet to just over 10,000 square feet. CCCP is taking a space formerly occupied by Karnes Research Co., which relocated to the 15th floor.
Charlotte Center City Partners is about to select a…
FCA Partners, the real estate investment management firm that spun out of Faison Enterprises last year, recently completed the sale of a portfolio of self-storage properties for nearly $57 million. And this year, the Charlotte firm plans to sell a couple of the apartment projects that Faison has developed for an FCA pension fund client in recent years.
FCA Partners recently sold the portfolio of seven self-storage properties to Extra Space Storage Inc., a real estate investment trust based in Salt…
Sales of Charlotte office properties totaled more than $1 billion in 2014, the third time that mark has been topped this century.
And sales of local apartment properties also topped $1 billion — for the second consecutive year.
The sales volume for Charlotte office buildings hit $1.1 billion last year, up from $875 million in 2013, according to Real Capital Analytics, a research firm that tracks deals valued at $2.5 million or more. During the fourth quarter, sales totaled $493 million, up from…
Childress Klein Properties is looking to sell several of its Charlotte-area office properties.
The Charlotte real estate firm has listed five suburban office buildings for sale in the past month, including two at the LakePointe Corporate Center office park that hit the market on Friday. Those are in addition to three office buildings at Kingsley Park in Fort Mill that were listed for sale last month. Childress Klein also will be marketing the 350,000-square foot AT&T Plaza building in uptown Charlotte…
Ta Chen International Inc., a Taiwan-based distributor of stainless steel products, is expanding its Charlotte operation and has leased just over 101,000 square feet at West Pointe Business Park in an industrial building that is being developed by Prologis Inc.
TCI entered the Charlotte market last year when it acquired the inventory of Summit Stainless. The company currently leases Summit's former warehouse space, about 25,000 square feet, in a building on Granite Street. A TCI representative says…