Grubb Properties and New York Life Insurance Co. are under contract to purchase the 525 North Tryon office building in uptown Charlotte, according to real estate sources.
The 19-story building was listed for sale by its owner, Parkway Properties Inc., in October and is one block over from the 336-unit SkyHouse Uptown apartment tower, which Grubb is developing with Novare Group and Batson Cook Construction.
The developers recently purchased the City Center Inn property next door to the SkyHouse…Grubb Properties, New York Life under contract to buy 525 North Tryon building
Grubb Properties and New York Life Insurance Co. are under contract to purchase the 525 North Tryon office building in uptown Charlotte, according to real estate sources.
The 19-story building was listed for sale by its owner, Parkway Properties Inc., in October and is one block over from the 336-unit SkyHouse Uptown apartment tower, which Grubb is developing with Novare Group and Batson Cook Construction.
The developers recently purchased the City Center Inn property next door to the SkyHouse…
Developer Bob Nixon and his daughter, Hollis, are planning to build a 36-unit condo development called Galleries @ NoDa on a 0.7-acre parcel at the intersection of North Davidson and Anderson streets in Charlotte's NoDa neighborhood.
The one- and two-bedroom units will be priced from $179,000 to $325,000 and will range in size from 675 square feet to 1,325 square feet. Construction is expected to start next year on the project, which will have 1,100 square feet of retail space on the ground floor.
Nixon…
CNL Commercial Real Estate Inc. has hired Charles Jonas to build out the firm's office business in the Carolinas.
Jonas was most recently a senior vice president with JLL, where he co-headed the firm's office leasing team with Charley Leavitt. At CNL, he will be responsible for developing the firm's business representing office landlords and tenants in the Carolinas and will also work to grow the firm's industrial business. Prior to joining JLL, Jonas spent eight years with Trinity Partners.
"It's…
November homes sales in the Charlotte region were up 4.8% from a year ago but dropped 14.5% compared with October's activity, according to the Charlotte Regional Realtor Association.
The average sales price in November was $227,104, which was up 1.5% from November 2013. The median sales price last month was $180,000, an increase of 2.9% from a year earlier.
Pending sales for November totaled 2,778, up 13.3% from a year earlier.
New listings and housing inventory continue to be a concern, according…
Matthews-based self-storage company Morningstar Properties has exceeded its capital goal for a $75 million private-equity fund that it plans to use to acquire between 10 and 15 self-storage properties next year.
The fund, called Blue Doors Storage Fund II, is backed by a small group of institutional investors, including two that contributed funds to Morningstar's first $55 million fund, Blue Doors Storage Fund I, which launched last year.
Last week, the fund reached $77.5 million in capital commitments.…
Two office buildings totaling approximately 310,000 square feet at Ballantyne Corporate Park are now fully leased, according to The Bissell Cos.
The Charlotte Business Journal reported recently that Synchrony Financial, a consumer finance company considering a 400-job expansion in Charlotte, was in talks to lease the Rushmore One building formerly occupied by AXA Financial at Ballantyne Corporate Park and that financial-services organization TIAA-CREF was in talks to lease the six-story Betsill…
Competing real estate firms Beacon Partners and Morehead Properties plan to join forces and merge their office holdings early next year, creating a single $100 million portfolio with 14 buildings totaling more than 500,000 square feet in Charlotte's midtown and SouthPark submarkets.
Executives with the two firms say the merger will provide them with a bigger platform that will allow their tenants to expand within the portfolio of buildings, most of which are along Morehead Street. Together, the…
Another uptown office tower is on the market, and it comes with some interesting development possibilities.
The owner of the 20-story 101 Independence Center building, located at the northwest corner of Trade and Tryon streets, has listed the office building for sale with investment sales firm HFF.
The tower, owned by KBS Capital Advisors and Gramercy Property Trust, totals 565,694 square feet and is 84% occupied. Bank of America Corp. is the largest tenant, occupying 261,000 square feet in a lease…
Lincoln Harris is seeking rezoning approval for a huge mixed-use development at the former Charlotte Golf Links property in south Charlotte that could include up to 900,000 square feet of office and retail space, a new K-8 magnet school, a recreational facility, multifamily units, single-family homes and senior living units. The Charlotte real estate firm is also hoping to accommodate a day-care facility and a police station on the site.
The 188-acre property is at the intersection of Providence…