North Carolina

JLL Arranges Sale of Wegmans-Anchored Shopping Center in Metro Raleigh

by Julia Sanders March 31, 2022

Cary, N.C. — JLL Capital Markets has arranged the sale of Twin Lakes Center, a multi-tenant shopping center in Cary, about 16 miles from Raleigh. Thomas Kolarczyk and Ryan Eklund of JLL represented the seller, Leyland Alliance. Dallas-based L&B Realty Advisors acquired the Wegmans-anchored property on behalf of an institutional client. Built in 2020, Twin Lakes Center was fully leased at the time of sale to tenants including Hollywood Feed, Great Clips, Mezeh Mediterranean Grill, Premier Martial Arts, PM Pediatrics, Paris Nail Bar, Bul Box and Gulli Boys. The center …

March 31, 2022

Investment sales News North Carolina

JLL Arranges $28.2 Million Sale of Publix-Anchored Retail Center in Metro Charlotte

by Julia Sanders March 28, 2022

Indian Trail, N.C. — JLL Capital Markets has arranged the $28.2 million sale of The Shoppes at Hanfield Village, a 90,996-square-foot, Publix-anchored retail center in Indian Trail, about 16 miles from Charlotte. Thomas Kolarczyk, Ryan Eklund, Bill Moylan, Daniel Naughton and Jordan Lex of JLL facilitated the transaction on behalf of the sellers, KGI Properties and Arista LLC, and procured the buyer, Pantry Express. Additionally, Taylor Allison and John Gavigan of JLL secured $17.5 million in acquisition financing on behalf of the buyer. Grant Street Funding provided the 10-year, fixed-rate, …

March 28, 2022

Investment sales News North Carolina

Cooper Commercial Arranges $2.4 Million Sale of The Shops of Mount Olive in Eastern North Carolina

by Julia Sanders March 17, 2022

Mount Olive, N.C. — The Cooper Commercial Investment Group has arranged the sale of The Shops of Mount Olive, a 9,267-square-foot shopping center in Mount Olive. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investor based on the East Coast. The private California buyer purchased the property for $2.4 million. Built in 2008, the center is anchored by El Mazaltlan Mexican Restaurant and is shadow-anchored by Walmart Supercenter. Other tenants at the center include Fantastic Sams, Cricket Wireless, Papa John’s and Diener Law …

March 17, 2022

Investment sales News North Carolina

Irgang Group Acquires 196,000-Square-Foot Shopping Center in Metro Charlotte

by Julia Sanders March 15, 2022

Monroe, N.C. — Irgang Group has acquired Poplin Place, a 196,462-square-foot regional shopping center in Monroe, about 21 miles from Charlotte. Ben Bruner of the Bruner Group represented Irgang Group on the transaction. Thomas Kolarczyk, Danny Finkle and Eric Williams of JLL Capital Markets represented the seller, Big V Property Group. Built in 2005, Poplin Place is fully occupied by an anchor tenant lineup that includes T.J. Maxx, Ross Dress for Less, PetSmart, Burlington, Big Lots and pOpshelf, along with a Target shadow anchor. Poplin Place also features tenants including …

March 15, 2022

Leasing News North Carolina

Lotus Cinemas to Open at Parkside Town Commons in Metro Durham

by Julia Sanders March 15, 2022

Cary, N.C. — Lotus Cinemas, an international and independent film theater, is set to open on March 25 at Parkside Town Commons in Cary, about 18 miles from Durham. The theater, which is the brainchild of Paragon Theaters’ co-CEOs Michael Whalen and Michael Wilson, will be exclusively dedicated to niche films by up-and-coming and award-winning foreign and domestic cinematographers. Lotus Cinemas will include four newly renovated auditoriums with reclining seats, a concession area and a new dedicated entrance. Each auditorium will feature zero-gravity recliners, reserved seating, wall-to-wall screens and Dolby …

March 15, 2022

Investment sales News North Carolina

SRS Arranges $72.5 Million Sale of Shopping Center in Fayetteville, North Carolina

by Julia Sanders March 8, 2022

Fayetteville, N.C. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Freedom Town Center, a 350,838-square-foot shopping center in Fayetteville. The seller, an entity doing business as NC Fayetteville Skibo LLC, sold the property for $72.5 million to an undisclosed buyer. Kyle Stonis, Pierce Mayson and Boris Shilkrot of SRS’ Atlanta office represented the buyer in the transaction. Tyson Glasser of RealtyLink represented the seller. Built in 2017, Freedom Town Center was 99.7 percent leased at the time of sale to tenants including Field & Stream, …

March 8, 2022

Florida Georgia News North Carolina Tennessee

Blackstone Agrees to Acquire Preferred Apartment Communities for $5.8 Billion

by Julia Sanders February 17, 2022

Atlanta and New York City — Blackstone Real Estate Income Trust Inc. (BREIT) has entered into a definitive agreement to acquire Preferred Apartment Communities Inc. (PAC) for approximately $5.8 billion. Under the terms of the agreement, BREIT will acquire all outstanding shares of PAC’s common stock for $25 per share in an all-cash transaction. PAC’s portfolio includes 44 multifamily communities totaling approximately 12,000 units concentrated largely in Atlanta, Orlando, Tampa, Jacksonville, Charlotte and Nashville, as well as 54 grocery-anchored retail assets comprising roughly 6 million square feet in Atlanta, Orlando, …

February 17, 2022

Investment sales News North Carolina

Flagship Realty Purchases Retail Building in Asheboro, North Carolina for $2 Million

by Julia Sanders February 14, 2022

Asheboro, N.C. — Flagship Realty LLC has purchased 1334 East Dixie Drive, a two-tenant retail building in Asheboro. The 6,400-square-foot property was fully occupied at the time of sale by Mattress Warehouse and AT&T. Jimmy Flowers of Flowers Capital Holdings brokered the $2 million sale. Flowers Capital Holdings will also manage the property. Pinnacle Bank provided a $1.6 million loan for the acquisition.

February 14, 2022

Florida Georgia News North Carolina Tennessee Virginia

Stockbridge Acquires Six Grocery-Anchored Properties Across Southeast

by Julia Sanders February 11, 2022

Atlanta — Stockbridge has acquired a six-property, grocery-anchored portfolio located in five markets across the Southeast. Branch Properties will maintain minority ownership in the portfolio and will continue to handle management and leasing at the property level. The portfolio features grocers Publix Super Markets and Harris Teeter, along with a mix of service providers, retailers and restaurants. The six properties, totaling 765,969 square feet, include Burnt Store Marketplace in Punta Gorda, Florida; Village Shoppes of Sugarloaf in Lawrenceville, Georgia; Five Forks Corners in Lilburn, Georgia; Waterford Village in Wilmington, North …

February 11, 2022

Leasing News North Carolina

Floor & Decor to Occupy 51,270-Square-Foot Single-Tenant Retail Building in Wilmington

by Julia Sanders February 4, 2022

Wilmington, N.C. — Floor & Décor will occupy a 51,270-square-foot single-tenant retail building located at 816 South College Road in Wilmington. The property was formerly occupied by Dick’s Sporting Goods. The building became available when Dick’s relocated to nearby Independence Mall. Brian Grabowski of TradeMark Properties represented property owner, Winwil Realty, in the leasing transaction. Renovations to the space are underway, with Floor & Decor expected to open this summer.

February 4, 2022

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