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FloridaInvestment salesNewsNorth Carolina

CTO Realty Growth Acquires Shopping Center Portfolio in Florida, North Carolina for $137.5 Million

by Hayden Spiess

Winter Park, Fla. — CTO Realty Growth Inc. has acquired a portfolio of three shopping centers located in Florida and North Carolina. The properties, which together total 893,000 square feet, include Carolina Pavilion in Charlotte, North Carolina; Millenia Crossing in Orlando, Florida; and Lake Brandon Village in Brandon, Florida. CTO purchased the portfolio from an undisclosed seller for $137.5 million. Carolina Pavilion, which was 93 percent leased at the time of sale, comprises roughly 691,000 square feet.  Tenants at the center include AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for …

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LeasingNewsNorth Carolina

Nordstrom Rack to Open 25,000-Square-Foot Store in Morrisville, North Carolina

by Hayden Spiess

Morrisville, N.C. — Nordstrom Rack has signed a 25,000-square-foot lease in Morrisville. Situated within Park West Village, the new store is scheduled to open in spring 2025. Other tenants at the center, which is owned and managed by CASTO, include Target, Trader Joe’s and Michaels. Nordstrom plans to open within three additional locations in the state this fall and next spring, adding stores in Mooresville, Raleigh and Matthews. 

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Belgate-Shopping-Center_Charlotte-N.C
Investment salesNewsNorth Carolina

Octave Acquires 269,253-Square-Foot Retail Center in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Octave Holdings and Investments has acquired Belgate Shopping Center, a 269,253-square-foot retail center located in Charlotte. Tenants at the property, which was fully leased at the time of sale, include Hobby Lobby, T.J. Maxx, Burlington, Marshalls, PetSmart, Old Navy, Shoe Carnival and Ulta Beauty. Octave completed the transaction through its Octave Realty Fund IX. Pinnacle Leasing and Management, Octave’s in-house property management company, will manage the center. 

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Investment salesNewsNorth Carolina

Legacy Arranges $6 Million Sale of Sedgefield Crossing in Greensboro, North Carolina

by Hayden Spiess

Greensboro, N.C. — Legacy Realty Group Advisors has arranged the $6 million sale of Sedgefield Crossing, a 112,330-square-foot shopping center located in Greensboro. Family Dollar and USPS anchor the property. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the seller and buyer in the transaction. 

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FinanceNewsNorth CarolinaOhio

BFG Arranges $5.5 Million Financing for Retail Portfolio in Ohio, North Carolina

by Hayden Spiess

Robersonville, N.C. and West Chester, Ohio — Bernard Financial Group (BFG) has arranged a $5.5 million loan to finance a retail portfolio located in North Carolina and Ohio. Dan Duggan of BFG secured the financing through Symetra Life Insurance Co. on behalf of the borrower, an entity doing business as FND OHIO LLC & DGMKT IOWA LLC. The portfolio totals 85,957 square feet across two properties in Robersonville, North Carolina, and West Chester, Ohio. 

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DevelopmentGrocery-anchoredNewsNorth Carolina

Branch, Columbia Acquire Development Site in North Carolina for Publix-Anchored Shopping Center

by Hayden Spiess

Fayetteville, N.C. — Branch Properties and Columbia Properties have purchased a 16.7-acre development site in Fayetteville, with plans to break ground on Rockfish Village, a shopping center that will span 76,237 square feet. A 48,387-square-foot Publix will anchor the property. The center will also feature 27,850 square feet of inline retail space and 2.4 acres of outparcels. Branch and Columbia plan to break ground on the project early next year, with delivery scheduled for the end of 2025. 

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LeasingMixed-useNewsNorth Carolina

Three New Retailers Sign Leases at The Pass Mixed-Use Project in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Three new retailers have signed leases at The Pass, a mixed-use development currently underway in Charlotte. Vintage sportswear concept Locker Room CLT opened at the property in February, and hair salon Common Thread and Mariah’s Taco Spot are scheduled to join the lineup this fall. Third & Urban is the developer of the 12-acre project, and Cliff Benson of Thrift Commercial Real Estate leads retail leasing for the property. 

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Panthers
DevelopmentNewsNorth Carolina

Carolina Panthers Propose $1.3 Billion in Renovations to Bank of America Stadium

by Hayden Spiess

Charlotte, N.C. — The NFL’s Carolina Panthers have unveiled plans for a renovation of its Bank of America Stadium in Charlotte totaling $1.3 billion.   Highlights of the renovation include a park-like setting and exterior video boards for watch parties at the stadium’s entrance. Once inside, fans would experience a new sound system, scoreboard and video boards. Plans call for social areas with skyline views, improved concessions with regional offerings and an expanded team store. Additional improvements include new seats installed throughout the bowl; improved accessibility throughout the facility; stadium safety and …

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Company newsDevelopmentNewsNorth Carolina

Wawa Opens First Store in North Carolina, Plans 10 Stores in State by Year’s End

by Hayden Spiess

Kill Devil Hills, N.C. — Wawa Inc. has opened its first gas station and convenience store in the state of North Carolina. Located in Kill Devil Hills, the store is the first of 10 Wawa locations scheduled to open in the state by the end of 2024. Stores will be located in Rocky Mount, Elizabeth City, Greenville, Wilson and Goldsboro. Additionally, Wawa plans to open up to 11 stores in 2025, in counties including Robeson, Pitt, Cumberland, Onslow, Johnston, Nash, Pender, Brunswick and New Hanover. Over the next eight to 10 …

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Shoppes-at-Toringdon_Charlotte-N.C
FinanceNewsNorth Carolina

Gantry Arranges $2.1 Million Refinancing for Retail Building in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Gantry has arranged a $2.1 million permanent loan for the refinancing of Shoppes at Toringdon, a retail property located in Charlotte. Three tenants occupy the property, which comprises 8,000 square feet situated on 1.6 acres. Tim Storey, Casey Kupferberg and Chad Metzger of Gantry secured the five-year, fixed-rate loan on behalf of the undisclosed borrower. 

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