THE DEAL SHEET
LEASES
Snack food specialist Snyders-Lance leased 274k SF at Patriot Industrial Works (1900 Continental Blvd). The deal will bring the distribution facility to 100% occupied. JLLs John Cashion, Brad Cherry, and Matt Treble repped landlord Patriot Equities. The property was formerly a Continental Tire factory before it was renovated into 1.3M SF of multi-tenant industrial space.
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InVue Security Products inked a lease extension and expansion at Olde Lancaster Town Center. The company extended its 15k SF lease in one building and is taking 20k SF in another at the six-building, 78k SF mixed-use property. Cornerstone Property Advisors Charles Neil repped building management, while Mohr Partners Keith Bell and Jack Glasgow repped InVue.
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CrossFit Dilworth expanded its lease at Cavalaris Village by 2,300 SF, for a total of 6,650 SF at the property. Cavalaris Village was repped by the Nichols Cos Josh Beaver, while Legacy Real Estate Advisors David Morris repped the gym.
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La Unica Mexican Restaurant leased 3,250 SF at 4350 Main St in Harrisburg Town Center, which will be the brands third location in metro Charlotte. Roman Propertys Chris Orr repped the landlord. In a separate transaction, Chris repped the landlord of 10210 Berkeley Place Dr in Pinnacle Point, Orion Real Estate Holdings, in leasing 2,300 SF to Holy Joes Butcher Shop.
CONSTRUCTION & DEVELOPMENT
Courtyard by Marriott is preparing open a new property in Salisbury, NC. It'll feature the brands new Refreshing Business lobby, which has wi-fi, a variety of seating configurations, a communal table, private media booths with high-definition TVs, and a semi-enclosed lounge area. (Pictured: a similar lobby of the recently opened Foggy Bottom Courtyard by Marriott in Washington, DC.)Located at 120 Marriott Circle, the 94-room hotel will operate as a Marriott franchise, owned and managed by BPR Properties of Greensboro, NC.
FINANCING
Crescent Resources recently closed on $75M in additional senior secured notes. It's the latest step in its capital-raising program that began in the summer of 2012 with a private offering of $350M of senior secured notes. At the same time, Crescents existing equity principal holders, Anchor Capital Master Offshore and MatlinPatterson Global Opportunities Partners III, made a $100M equity commitment, which was recently increased to a total of $150M.
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