Charlotte
Industrial Developments Abound in Metro Charlotte; $7M Retail Project Breaks Ground
By Eliza Theiss, Associate Editor Metropolitan Charlotte’s industrial market has been on the rise for some time and shows no sign of slowing down. Recently, Lincoln County’s newest business park got its first resident, reports the Charlotte Business Journal. Hydac Technology Corp., a German manufacturer of hydraulic valves, filters and various other elements, broke ground […]
Sonesta ES Suites Charlotte Opens; $27M Facility for Green Energy Player
By Eliza Theiss, Associate Editor The city of Charlotte recently added a new hotel to its ever-growing hospitality industry. Located at 7925 Forest Pine Dr. in the southern part of the city, Sonesta ES Suites Charlotte is a chapter of Sonesta International Hotels Corporation—a global collection of upscale and extended-stay hotels, resorts and cruise ships. […]
Greystone Closes $33M Affordable Housing Transaction
By Eliza Theiss, Associate Editor Greystone Affordable Housing Initiatives LLC (GAHI), a leading provider of affordable housing recapitalization and rehabilitation transaction management services, announced the closing of a $33 million multifamily transaction for a North Carolina portfolio of family- and elderly-designated properties. The USDA Rural Development portfolio encompasses 12 properties totaling 368 units located in […]
LEED Silver Multifamily Property Sold for $74M
By Eliza Theiss, Associate Editor Post Properties Inc. has acquired Circle at South End from Crescent Resources in one of Charlotte’s priciest multifamily transactions. Post paid $74 million, or $205,555 per unit, for the property, which it immediately re-branded as Post South End. The 360-unit property is located in the Queen City’s South End neighborhood […]
Eastland Mall May Get New Life
By Eliza Theiss, Associate Editor Eastland Mall, eastern Charlotte’s once-reigning shopping mall, could once again become a revenue-generating property. According to a report by the Charlotte Observer, officials have put the purchase of Eastland on the city’s immediate agenda with a reported $13.2 million price tag. If the city were to acquire the mall, it […]
The Vue’s Woes Over?
By Eliza Theiss, Associate Editor It seems Charlotte’s ultimate luxury residential tower is at a crossroads. Real estate firm HFF LP announced it has closed the sale of a loan secured by The Vue—the 409-unit, 51-story Class A luxury residential tower located in Charlotte’s Fourth Ward. As previously reported, HFF began marketing The Vue’s $130 […]
The Palisades Purchased; Mooresville Luxury Equestrian Property to Be Auctioned
By Eliza Theiss, Associate Editor Standard Pacific Homes has purchased a 1,100-home site at the 1,600-acre master-planned community—The Palisades—on the shore of Lake Wylie, N.C. The value of the deal has yet to be disclosed, but according to a Standard Pacific Homes press release, the purchase is the largest community land transaction of this caliber […]
Fifth Third Center Acquired by Parmenter Realty
By Eliza Theiss, Associate Editor Lately, the Charlotte office market seems to be as hot as the temperatures. Just a little over a week after Azrieli Group Ltd. entered a $245 million purchase agreement for One Wells Fargo Center, and less than a month after Parkway Properties closed on the Hearst Tower for $250 million, […]
Former Wachovia HQ to Be Purchased for $245M
By Eliza Theiss, Associate Editor Hot on the heels of Parkway Properties Inc.’s $250 million purchase of Hearst Tower, one of the biggest office property sales of the year in the Charlotte area, comes another major sale. Israeli real estate firm Azrieli Group Ltd. recently announced it has entered a $245 million purchase agreement for […]
$52M Luxury Apartment Community Breaks Ground
By Eliza Theiss, Associate Editor Crescent Resources LLC has recently broken ground on its newest project: the $52 million luxury apartment community—Circle South Park—in Charlotte’s South Park neighborhood. Developers expect the first apartments to go on the market by the summer next year. Located near SouthPark mall on Carnegie Boulevard right next to Piedmont Town […]