Waynesville, N.C. — Divaris Real Estate has brokered the $14.8 million sale of Russ Avenue Plaza, a shopping center located in Raleigh. Situated on 17 acres, the property formerly housed a Kmart. Jessica Johnson of Divaris represented the seller, an entity doing business as Russ Avenue Plaza LLC, in the transaction.
Charlotte, N.C. — Providence Group Capital (PGC) has acquired two properties located at 2429 and 2511 South Tryon St. in Charlotte’s South End neighborhood. Totaling roughly 1.3 acres, the properties feature three existing buildings comprising more than 17,500 square feet. Tenants at the buildings include Euro Cars South End, A&T Auto Body Shop and Paws Whiskers & Wags. PGC has purchased 15 properties in the same section of South End over the past 18 months. Hayes Faulkenberry of Land Advisors represented PGC in the acquisition of 2429 South Tryon St. …
Asheville, N.C. and Columbia, S.C. — Benderson Development has purchased two single-tenant retail properties located at 120 Merrimon Ave. in Asheville and 4516 Forest Drive in Columbia from CIM Group. Both properties are leased to grocer Trader Joe’s.
Atlanta and Charlotte, N.C. — Nuveen Real Estate has acquired two retail centers totaling 139,732 square feet in separate transactions. Roswell Wieuca in Atlanta was originally constructed in 1954 and comprises 73,370 square feet. The property is grocery-anchored and was 98 percent occupied at the time of sale. The second property, Specialty Shops SouthPark in Charlotte, was purchased in partnership with Hill Partners, which has managed and leased the property since 2014. Specialty Shops features 65,362 square feet and was fully leased at the time of sale.
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Charlotte, N.C. — Crescent Communities plans to break ground Wednesday on The River District, a master-planned community on Charlotte’s west side. The development will span 1,400 acres between the Catawba River and Charlotte Douglas International Airport, including 500 acres of preserved land. Upon completion, The River District will feature 5,000 residences (single-family homes and apartments), 8 million square feet of commercial space, hotels and retirement homes. Crescent expects the development to generate more than $5.6 billion of gross annual economic impact for the region and state. “The River District’s location …
Charlotte, N.C. — EverWest Real Estate Investors has sold Specialty Shops SouthPark, a 65,362-square-foot retail center located in Charlotte, for $40.2 million. Hill Partners purchased the property, which is leased to tenants including Williams-Sonoma, Drybar, Talbots and Paco’s Tacos & Tequila.
Charlotte, N.C. — Two tenants have signed leases at Oakhurst Commons, a 135,000-square-foot adaptive reuse project currently underway in Charlotte. Massage studio Mood House will lease 3,000 square feet, marking the brand’s second Charlotte location. Additionally, Pop the Top Craft Beer will open a 2,000-square-foot brewery with outdoor patio space. A joint venture between MDH Partners and Parkside Partners acquired the property — formerly home to a five-building office, warehouse and lab facility — in 2021. Upon completion, the development will include 120,000 square feet of office space and 15,000 …
Durham, N.C. — Publix Super Markets has opened a 46,791-square-foot store at Marketplace at Ellis Crossing, a 30-acre mixed-use development underway in Durham. Located at the northeast corner of Ellis Road and Watchorn Street, the project marks the fourth North Carolina development for Thompson Thrift. Other tenants at the property, which features an additional 25,000 square feet of retail space, include Chipotle and First National Bank, which is scheduled to open in 2024. Sheetz, Heartland Dental, Lee Nails and It’s a Southern Thing Kitchen & Bar are also expected to …
Indian Trail, N.C. — Legacy Realty Group Advisors has arranged the sale of Union Town Center, a 102,360-square-foot shopping center located in Indian Trail, roughly 15 miles southeast of Charlotte. Food Lion, Workout Anytime and Dollar Tree anchor the property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the $16.2 million transaction.
