Southeast Real Estate Business

DEC 2016

Southeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Southeast United States.

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8 • December 2016 • Southeast Real Estate Business www.REBusinessOnline.com C A R O L I N A S GRUBB TO BUILD APARTMENT PROJECT WITHIN WAKE FOREST INNOVATION QUARTER IN WINSTON-SALEM WINSTON-SALEM, N.C. — Grubb Properties plans to build a multifam- ily community within Wake Forest Innovation Quarter, a master-planned research, education and mixed-use development located near Wake For- est University in Winston-Salem. The property will feature 340 apartment units, 5,000 square feet of ground- level retail space and a parking deck with more than 850 parking spaces. The apartments and retail will wrap around the parking deck, which will be shared by residents, employees and visitors. The property will be situ- ated between North Patterson Avenue and Chestnut Street adjacent to Wake Forest Biotech Place. The city of Win- ston-Salem and Forsyth County are providing tax reimbursements for the development of the parking deck. The community will feature a street-level cycle center, dog park, entertainment space overlooking nearby Bailey Park, courtyard with a saltwater pool, fire pits, grilling stations and a fitness cen- ter. The residences will range between studio units and two-bedroom apart- ments. Grubb Properties expects to break ground in early 2017. LIBERTY PROPERTY TRUST BREAKS GROUND ON WAREHOUSE IN GREER GREER, S.C. — Liberty Property Trust has broken ground on Caliber North, a 171,600-square-foot warehouse situ- ated within the Caliber Ridge indus- trial park in Greer. The warehouse is situated near the South Carolina In- land Port. Set for an April 2017 com- pletion, Caliber North will feature 7-inch concrete slab floors and 36-foot clear heights, the first warehouse in the market built to those specs. The project team includes architect MCA Architecture, civil engineer blueWA- TER Civil Design and general contrac- tor Harper Corp. Jaime Maldonado of Liberty Property Trust is Caliber North's project manager, and Liber- ty's Bryan Blythe is teaming up with Brian Young, Elliott Fayssoux and Ka- cie Jackson of Cushman & Wakefield | Thalhimer to market the project. ARA NEWMARK ARRANGES $56 MILLION SALE OF STUDENT HOUSING COMMUNITY IN COLUMBIA COLUMBIA, S.C. — ARA Newmark has arranged the $56 million sale of Aspyre, a 760-bed student housing community located near the Univer- sity of South Carolina campus in Co- lumbia. Ryan Lang of ARA Newmark represented the seller, Holder Proper- ties, in the disposition of the property to Castlerock Enterprises. Community amenities at Aspyre include a resort- style pool with a beach area and grills, a clubroom with a bar area and a Zen courtyard with a putting green and 24-hour fitness center. Aspyre was 97 percent occupied at the time of sale. STILES TO DEVELOP OFFICE BUILDING IN CHARLOTTE'S SOUTH END DISTRICT CHARLOTTE, N.C. — Stiles plans to develop a new Class A, 64,000-square- foot office building located at 300 W. Summit Ave. in Charlotte's his- toric South End neighborhood. The three-story project will feature under- ground parking and a rooftop terrace. Stiles' Charlotte office has begun site work and will begin vertical construc- tion in March 2017, with an expected delivery in first-quarter 2018. Charley Leavitt and Stephen Woodard of JLL are handling the office building's leas- ing responsibilities. BISSELL SIGNS WELLS FARGO TO 287,507 SF OFFICE LEASE CHARLOTTE, N.C. — The Bissell Cos. has signed Wells Fargo to a full-build- ing lease at the Brigham Building situated within Ballantyne Corporate Park in Charlotte. Located at 11625 N. Community House Road, the 10-story, 287,507-square-foot is under construc- tion and set for completion in Decem- ber. Wells Fargo will occupy the build- ing starting in 2017. The Class A office building features a two-story lobby, glass exterior curtain walls and free structured parking. The Bissell Cos. is developing Brigham Building to achieve LEED Gold certification. AEW CAPITAL BUYS PAIR OF CHARLOTTE OFFICE BUILDINGS FOR $40.2 MILLION CHARLOTTE, N.C. — Boston-based AEW Capital Management has pur- chased Carnegie VII and Carnegie Ten, two office buildings located at 5955 and 5605 Carnegie Blvd. in Charlotte's Southpark office submarket, for $40.2 million. Patrick Gildea, Will Yowell and Jay O'Meara of CBRE represented the sellers, Carnegie Ten LLC, owned by Community Investments Foun- dation, a supporting organization of Foundation For The Carolinas; and Carnegie VII LLC, in the transaction. The sellers are subsidiaries of Bissell Cos., which developed and managed Carnegie VII and Carnegie Ten. Aspyre is a 760-bed student housing community located near the University of South Carolina campus. Castlerock Enterprises purchased the asset for $56 million. CHARLOTTE, NC 704.714.7600 Your Strategic Partner Providing multidimensional services with seamless results. Comprehensive Real Estate Solutions Development Commercial Brokerage Property Management Asset Management Facility Management Land Services Retail Services Project Management A Promise of Value RALEIGH, NC 919.840.8040 LincolnHarris.com

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