North Carolina

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DevelopmentMixed-useNewsNorth Carolina

Portman to Bring 30,000-Square-Foot Food Hall to Savona Mill Redevelopment in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — Portman has announced plans for Savona Food Works, a 30,000-square-foot food hall that will anchor the company’s Savona Mill adaptive reuse project in Charlotte’s West End district. Veteran food hall operator Robert Montwaid will lead the dining installation, which will offer 25 food stalls, a full-service restaurant and bar, coffee shop, flower market and rooftop bar. Montwaid’s previous ventures include leading Gansevoort Market in New York City’s Meatpacking District and Chattahoochee Food Works in Atlanta’s West Midtown neighborhood. Savona Food Works will be situated in the “Weave building,” …

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ARCTRUST Purchases Seven-Property Net Lease Portfolio in Six States

by Abby Cox

New York — ARCTRUST Private Capital, the capital markets division of the ARCTRUST Group of Cos., has acquired a seven-property, single-tenant net lease portfolio in six states including North Carolina, Alabama, Kentucky, Michigan, Tennessee and Virginia. The portfolio, which spans approximately 51,192 square feet, comprises two Pinnacle Bank locations, three CVS Pharmacy locations and two NAPA Auto Parts. The portfolio features a 13.6 weighted average lease term, with contractual rent increases and renewal options across all properties. Each property operates on an absolute triple-net lease basis. The two Pinnacle Bank …

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Investment salesMixed-useNewsNorth Carolina

Partnership to Recapitalize Gibson Mill Adaptive Reuse Development in Concord, North Carolina

by Abby Cox

Concord, N.C. — A partnership between Charlotte-based real estate investment firm White Point and the Liles family have announced plans to recapitalize Gibson Mill, a 653,000-square-foot adaptive reuse development located in Concord, a northeast suburb of Charlotte. White Point acquired a significant stake in the property, buying out former co-owners Joe Liles and Tom Cotter, who purchased the former Cannon Mills property in 2004. George Liles will remain part of the new ownership group, along with his four sons. Established in 1899, Gibson Mill sits on 33 acres and includes a …

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CenterSquare Acquires Four Centers

by Abby Cox

Conshohocken, Pa. — Conshohocken, Pennsylvania-based CenterSquare Investment Management has acquired four shopping centers in four states. The portfolio includes Trade Court Shoppes Add-On, a fully leased, 14,721-square-foot retail center in Charlotte, North Carolina; Deer Valley Shoppes, a 17,000-square-foot retail strip center in Phoenix; Lake Mead Gateway Plaza, a fully leased, 19,671-square-foot shopping center in Henderson, Nevada; and The Shops at Foothills Mall, a 111,220-square-foot retail center in Fort Collins, Colorado. Together, the shopping centers span more than 162,000 square feet and were 93 percent occupied at the time of sale.

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Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $2.9 Million Sale of Glenwood Retail Center in Raleigh, North Carolina

by Abby Cox

Raleigh, N.C. — Marcus & Millichap has brokered the $2.9 million sale of Glenwood Retail Center, a 10,000-square-foot retail property located in Raleigh. The three-tenant center was built in 1997 and was fully occupied at the time of sale by tenants including Apotheca, Stylist Studios and Kingdom Life Church International. Patrick Barratt, Andrew Margulies and Harrison Creason of Marcus & Millichap marketed the property on behalf of the Raleigh-based seller and procured the buyer, a Raleigh-based private partnership.

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LeasingMixed-useNewsNorth Carolina

CBRE Signs Leases with Five New Retail Tenants at Center Point Mixed-Use Development in Wilmington, North Carolina 

by Abby Cox

Wilmington, N.C. — CBRE has signed leases with five new retail tenants at Center Point, a mixed-use project under development in Wilmington. Totaling more than 13,000 square feet, the new leases will include Nest Interiors and Blended Shoes + Apparel — which will be merged into a shared space — as well as Burton’s Grill & Bar, Thompson’s of Wilmington and Jeff’s Bagel Run. These tenants mark the first retail commitments within Phase I of Center Point, which will feature approximately 33,000 square feet of retail space. A joint venture between …

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Investment salesNewsNorth Carolina

Finmarc Sells Capital Marketplace Retail Center in Raleigh, North Carolina for $80.6 Million

by Abby Cox

Raleigh, N.C. — Finmarc Management Inc. has sold Capital Marketplace, a 383,000-square-foot power center located on 53 acres along U.S. Route 1 in Raleigh. The Bethesda, Maryland-based investment and management firm sold the property to Des Moines, Iowa-based Principal Financial Group for $80.6 million. Adam Russ, Erin Varol, Ryan Sciullo and Casey Smith of CBRE represented the seller in the transaction. Finmarc originally purchased the center, then known as Plantation Point Shopping Center, in late 2021. Built in 2006, Capital Marketplace’s tenant roster includes Bob’s Discount Furniture, BJ’s Wholesale Club, …

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Continental Realty Acquires 14-Property Shopping Center Portfolio in Southeast, Midwest

by Abby Cox

Baltimore and Hillard, Ohio — Continental Realty Corp. has purchased a 14-property shopping center portfolio located across seven states in the Southeast and Midwest. The Baltimore-based firm purchased the more than 2 million-square-foot portfolio from Hillard-based US Properties Group for an undisclosed price. Chris Decoufle and Kevin Hurley of CBRE represented the seller in the off-market transaction. The acquisition grows Continental Realty’s holdings to nearly $5 billion in assets under management and expands its geographic footprint to 16 states, including its entry into Ohio. The portfolio was 93 percent leased at …

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Legacy Realty Group Arranges Sale of Food Lion-Anchored Shopping Center in Western North Carolina for $3 Million

by Abby Cox

Hickory, N.C. — Legacy Realty Group has arranged the sale of Mountain View Shopping Center, a 43,550-square-foot shopping center located in Hickory, about 58 miles north of Charlotte. Food Lion anchors the center, which was fully leased at the time of sale. Other tenants include Hannah’s BBQ South. Built in 1988, the property spans 7 acres, according to LoopNet Inc. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented both the buyer and seller in the off-market transaction.

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Dave’s Hot Chicken Opens Record Eight Restaurants in a Single Day

by Abby Cox

Pasadena, Calif. — Dave’s Hot Chicken opened eight new restaurants on April 16, expanding its footprint to more than 400 locations worldwide. The fast-casual concept, which originated in Los Angeles, is bringing its Nashville-style hot chicken to multiple markets, including Fairlawn, Ohio; Oneonta, New York; Edina, Minnesota; Gastonia, North Carolina; Arlington Heights, Illinois; Miami; Saratoga, Utah; and Waterford, Connecticut. Founded in 2017, Dave’s Hot Chicken has sold the rights to more than 1,020 franchise locations in the U.S., Europe, the Middle East and Canada, and will open 70-plus locations this year.

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