Sales
759 Ventures bought the failed condo project Bloc 90 on N Davidson St between 15th and 16th, which sat unfinished for years. Liberty Solutions' Brian Gribble repped the seller, First City Financial, who purchased the note from Bank of America and foreclosed on the property. Liberty Solution was court appointed as receiver for the property, completing construction of the 36 units. 759 Ventures is marketing the building as theà Edgeline Flats apartments, and is planning a second phase, which will add an additional 54 units.
Beacon Partners purchased Southborough, a mixed-use building in Southend. The 27k SF property at S Boulevard and Magnolia Ave includes retail on the ground level and offices on the remaining three floors. Currently 80% occupied, the 2008-vintage building offers build-to-suit office suites starting at 1,400 SF. The building's retail tenants include Five Guys Burgers and Fries, Noodles & Company and The Wine Loft. Piedmont Properties' Frank McCleneghan repped Beacon in the deal, while Merrifield Patrick Vermillion's Mark Newell repped the seller.
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Twin State Trailers purchased two industrial buildings totaling 29k SF at 8621 Statesville Rd in Charlotte for $2M. The buyer plans to relocate its Concord facility to the 10.6-acre site. VIT LLC, managed by Grady Rowland, sold the property. Piedmont Properties' Lester Osborn repped VIT in the sale.
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Piedmont Properties Marty McLaughlin repped the sellers in two recent sales. He repped Stockport Ventures in the sale of 9332 Stockport Pl, a 20,400 SF building on two acres; West Maple Realty repped the buyer in the deal. Marty also repped the seller in the sale of an 18k SF industrial building on 3.75 acres in Charlotte, which was purchased by Benfield Sanitation Services of Statesville from Ted Merrell of Merrell Properties.
Kite Realty Group Trust acquired the 60k SF Toringdon Market in Charlotte for nearly $16M. The center is 97% leased and is anchored by Earth Fare, a specialty grocer. According to Kite, Toringdon Market is draws from an attractive five-mile trade area with average household incomes of $107,000 and a high population density.
