The Deal Sheet
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As long as interest rates remain low, there will be heightened refi activity, according to Capital Advisors VP Clark Jenkins. He recently arranged the $1.5M refi of a 10k SF, freestanding CVS at 4102 Old Buncombe Rd in Greenville, SC.
Ginkgo Residential acquired Boundary Village Apartments in Cary for $16M. The 20-acre property contains 186 two-, three- and four-bedroom units. The property also includes a swimming pool with sundeck, gated childrens playground, picnic and grilling areas, and access to Northwoods Greenway. BlackGold Biofuels, a firm that recycles organic fats, oils and greases from commercial wastewater into biofuel, opened of a recycling facility at 4826 Worth Pl in Charlotte. The multi million-dollar facility included numerous site improvements, increasing the utility of the formerly underutilized Brookshire Boulevard Distressed Business Corridor in which it's located. Beauty Systems Group LLC, a subsidiary of Sally Beauty Holdings ,inked a deal with Chambers Street Properties to build a 90k SF expansion of its current facility at Chambers Streets Fairforest 4, a warehouse/distribution property in Spartanburg, SC, as well as to extend the term of the lease to the end of 2023. Sally Beauty, a major retailer of professional beauty supplies, currently leases 101k SF at Fairforest 4. The expansion is expected to be delivered in Q2 '13. Argol America, an Italian-owned provider of integrated logistics services, has located its North American HQ at 201 South College St. The company plans to hire 20 employees in administration, IT and engineering in the next three years. Platos Closet is opening a 12k SF mega store at 10215 University City Blvd on Saturday. According to the clothier, which is based in Minneapolis, it will be the largest store in the chain, which totals about 370 stores nationwide. Lucianos Ristorante Italiano opened at South Ends Steel Yard. The full-service restaurant serves Italian favorites and its signature brick-oven Neapolitan pizzas for lunch and dinner. Also at Steel Yard, Gazelles Systems leased 2,143 SF in the propertys Tompkins Toolworx building (repped by JLLs Louis Stephens), and ReachLocal expanded into 3,404 SF (repped by Percival McGuires Kent Lamm). Trinity Partners Rhea Greene repped the landlord in both deals, Trinity Capital Advisors and Urdang.