Members on the Move – January 6, 2021

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Congratulations to the following CRCBR members on their recent achievements:

CBRE – Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins and Alek Salfia
SkyREM recently sold Coffey Creek, an eight-building park, and Rubin Center, a two-building park, to separate buyers for a total of $14.4 million, according to Mecklenburg County real estate records. Both buyers are based in Charlotte. Crown Property Group purchased Coffey Creek for $7.65 million, records show. The park totals 93,175 square feet and is located near Charlotte Douglas International Airport. The park is 92% occupied and is in the southwest industrial submarket, the largest in Charlotte. Insite Properties was the buyer of Rubin Center and paid $6.75 million for those buildings. Rubin Center is located closer to uptown and South End, totaling 64,555 square feet in space. It is 88% occupied and sits in the central industrial submarket. CBRE’s Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, and Alek Salfia represented SkyREM in the transactions. Read more.

Foundry Commercial – John Ball, Cody Sundberg and Claiborne Dandridge
Portman Holdings will bring about 180,000 square feet of office space to market at Savona Mill, at 528 S. Turner Ave., in the Smallwood neighborhood of west Charlotte. Portman Residential, a related company of Portman Holdings focused on residential development, will build apartments on nearly 30 acres adjacent to the mill. John Ball, Cody Sundberg and Claiborne Dandridge at Foundry Commercial will lease the office space on behalf of Portman Holdings. Read more.

JLL – Brad Cherry
Tribek is developing RiverWest Business Park in Belmont, which will include two speculative industrial buildings totaling more than 600,000 square feet. Tribek’s Scott Bortz told the Charlotte Business Journal the company chose to enter the industrial space because the opportunity to develop a good industrial site arose. JLL’s Brad Cherry, who is handling leasing for the site, said the site’s proximity to Interstate 85 presented a strong opportunity for Tribek to get into industrial development. Read more.

JLL – Jordan Quinn and Spencer Yorke
Kansas City-based NorthPoint Development announced it had closed on the land for Gateway85, a 365-acre industrial park between Gastonia and Lowell. NorthPoint said the development would include 3.6 million square feet of industrial space and that the first buildings would become a reality in the next year. The first phase of the project, which will include two buildings totaling 900,000 square feet, will deliver by the fourth quarter of 2021. The following two phases of Gateway85 would contain build-to-suit developments. JLL’s Jordan Quinn and Spencer Yorke will market Gateway85 for NorthPoint. Read more.

JLL – Jordan Quinn and Spencer Yorke
Rockefeller Group announced it had begun construction on Stateline77, a speculative industrial project that would include two buildings and total more than 1 million square feet of space. The buildings will be 814,162 square feet and 221,000 square feet, respectively, and are expected to deliver in January 2022. The project will be located on the newly constructed Logistics Lane in Fort Mill, just off Baxter Lane and U.S. Highway 21. An entity affiliated with Rockefeller, called RG Baxter Lane LLC, purchased the 77.5 acres for the project for over $10 million last year. JLL’s Jordan Quinn and Spencer Yorke are handling leasing for Stateline77. Read more.

JLL and Cushman & Wakefield – Matthew Greer, Brad Cherry and Matt Treble
Walmart Fulfillment Services LLC bought Troutman Industrial Park, a 1 million-square-foot industrial shell building, for $69 million, according to Iredell County real estate records. The building sits on a 158.3-acre lot at 386 Murdock Road and was developed by longtime developer Kathy Godley. JLL’s Matthew Greer and Brad Cherry brokered the deal on behalf of Godley. Ed Lampitt and Matt Treble from Cushman & Wakefield represented Walmart Inc. Read more.

Legacy Real Estate Advisors, LLC – Adam Williams
North American Properties has tapped a leasing team for Birkdale Village, with plans to revamp the retail experience at that Huntersville mixed-used development. Charlotte’s Adam Williams, principal at Legacy Real Estate Advisors, will lead those efforts. Cincinnati-based NAP recently became a new owner of the 52-acre property at Sam Furr Road and Birkdale Commons Parkway. It owns the property along with Nuveen Real Estate. Read more.

MPV Properties and Childress Klein Properties – Bailey Patrick, Bailey Patrick Jr., Jenny Fowler and Travis Hart
MPV and TRI Pointe Homes, Inc. are pleased to announce Tri Pointe Homes’ upcoming move to The Nexus at Waverly where the company will relocate its Charlotte division office and build a new Design Studio. The 9,354 square foot space is located on the 1st floor of The Nexus, and the new Design Studio will be walkable to all of the amenities within Waverly. Tri Pointe Homes anticipates moving into the new space in the spring of 2021. Bailey Patrick and Bailey Patrick Jr. of MPV Properties represented the Tenant, and Jenny Fowler and Travis Hart of Childress Klein represented the Landlord.

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