The Deal Sheet
The NJ-based Silverman Group has unveiled plans for a 400k SF spec industrial building in the Concord Airport Business Park in Concord. The new building will be on a 56-acre site adjacent to the airport, and feature 36-foot ceilings and 100 trailer parking spaces. (It sounds like a great spot to bring a date.)
Now's the time for spec industrial in the greater Charlotte market, Silverman Group prez Blake Silverman tells us. If you're looking for Class-A vacancies of more than 200k SF, you'd be out of luck. (You'd have to take your toys and your forklifts and go home.) His project's going to feature a flexible layout to accommodate users of various sizes, Blake adds. Construction is slated to begin in early '14 and be finished by late summer. The site will also feature a 125k SF industrial building next to the main one. Avison Young principal Christopher Skibinski, in the Charlotte office, has been tapped to lease the space.
SALES
A JV between Charlotte-based Blue Heron Capital and Greensboro-based Hawthorne Residential Partners (HRP) acquired Hawthorne Northside Apartments (formerly known as Colonial Village at Pinnacle Ridge), a 166-unit apartment property in Asheville, for more than $13M. It was Blue Heron Capital's second JV with HRP, following the late 2012 purchase of Hawthorne at Commonwealth, formerly known as Cambridge Townhomes, in Charlotte.
***
Associated Estates Realty Corp acquired seven properties from Northwood Ravin LLC for a total of nearly $324M in cash, less the assumption of $28M of existing mortgage financing. There are three Charlotte-area apartment properties in the portfolio: The 295-unit Apartments of Blakeney, the 167-unit Alpha Mill Phase I (pictured) and the unfinished 100-unit Alpha Mill Phase II. The sale of Alpha Mill Phase II is contingent on its being completed. Other properties in the portfolio are in Cary, Raleigh, Atlanta, and Tampa.
LEASING
The Ultra Running Company leased 3,000 SF at Myers Park Center. The new specialty running store, owned and operated by Nathan Leeham, will open this fall in conjunction with the 42k SF newly built Harris Teeter that anchors the center. MPV's Keely Simerville repped the tenant, while Collett & Associates' Spencer Brown repped the landlord, Huntington Management Co.
***
MPV has also been involved in recent industrial leases. Argus Fire Control leased 13k SF at 2723 Interstate St. Argus specializes in industrial fire protection systems as well as metal detection and diverting. MPV's Stephen Woodard repped the tenant in the deal. In a separate transaction, Charlotte Flooring leased 18k SF in 113 Freeland Lane. MPV's Billy Thomas repped the landlord, Chapman Warehouse LLC, in the lease.
DEVELOPMENT
The Duke Endowment hoisted the last beam this week in a topping-out ceremony for its new 46k SF HQ on East Morehead. The building is slated for completion next year. The architect is Gensler, while JLL is the project manager and Rodgers Builders the general contractor.
***
Gildan Activeware is planning to build two yarn spinning plants totaling 500k SF in Salisbury and Mocksville. Colliers International Charlotte's Don Moss and Grant Miller repped the company in the site selection process, working with the NC Dept of Commerce, as well as Bladen, Davie and Rowan counties in North Carolina to procure the purchase of 26.2 acres of land for over $8M in cash. The State of North Carolina Job Development Investment Grant could yield $3.49M in state incentives over 12 years, and the Golden Leaf Foundation is providing a $1M grant to Davie County to buy machinery and equipment that Gildan will use at both plants.
