CHARLOTTE, North Carolina, February 27, 2018 – Cushman & Wakefield has arranged the sale of The Preserve at Pine Valley, a 219-unit apartment community located in Wilmington, North Carolina. Watson Bryant, Paul Marley and Jordan McCarley of Cushman & Wakefield represented the seller, Gold Properties, in the transaction. “The Preserve at Pine Valley is a well-maintained asset in one of South Wilmington’s strongest submarkets,” Bryant said. “The property has always maintained strong occupancy and provides the new owners an opportunity to renovate interiors, taking advantage of Wilmington’s impressive population growth.” The Preserve at Pine Valley, built in 1976, includes a swimming pool, tennis courts, dog park, playground and a car care center. Wilmington boasts one of the healthiest secondary markets in the nation anchored by recession-resilient jobs in education, healthcare and government. With more than $500 million in recently announced developments, the city is predicted to grow into a powerhouse [...]
Cushman & Wakefield Represents Target Investments LLC in Sale of 1406 Winnifred Street in Charlotte’s South End
CHARLOTTE, NC, February 22, 2018 – Cushman & Wakefield announced today that it has represented locally based Target Investments LLC in the sale of 1406 Winnifred, a 25,543-square-foot, one-story office/retail building in Historic South End. Cushman & Wakefield’s Sam Young, David Hoppe, Rob Cochran, Jared Londry and Nolan Ashton represented the seller. The buyer, The Dilweg Companies, acquired the asset for $5.7 million, or $223 per square foot. 1406 Winnifred consists of 1.722 acres on three parcels in one of Charlotte’s busiest submarkets, Uptown/South End. The property is currently leased to a mix of service-oriented, retail and food preparation tenants. The asset is surrounded by over 5,500 multi-family units, 2.6 million square feet of office and 739,000 square feet of planned or under construction projects. Located just two blocks from a Lynx station and one mile from Charlotte Center City, the property offers access to an abundance of amenities and [...]
Not too hot, not too cold — just like the porridge in "Goldilocks and the Three Bears." That's how Revathi Greenwood, Americas head of research at Cushman & Wakefield, describes the current U.S. economy. Greenwood spoke at the 11th annual Outlook on the Commercial Real Estate Market, an event co-sponsored by Katten Muchin Rosenman and Cushman & Wakefield, on Thursday evening about current economic conditions, how they are impacting commercial real estate and what the outlook is for Charlotte's real estate market this year. Greenwood noted that geopolitical events today are very uncertain, with "a new curveball" thrown out every day. But, she said, the world economy will chart its own course, despite those uncertainties. The question on everybody's mind: When will the next recession occur? "All of us know this is tracking to be the longest expansion we’ve ever had," Greenwood said. "We don’t see a recession happening for [...]
Architecture Firm will Relocate to 615 S. College Street CHARLOTTE, NC, January 9, 2018 – Cushman & Wakefield’s Charlotte Tenant Representation team has represented Little, Charlotte’s largest architecture firm, in securing new office space in Uptown Charlotte. Cushman & Wakefield Senior Director Keith Bell, CCIM, SIOR and Director John Christenbury represented Little in the approximately 60,000-square-foot leasing transaction at Portman Holding’s 615 S. College Street project, which was recently completed. The architecture firm is moving its Charlotte headquarters from 5815 Westpark Drive, which it occupied for the past 30 years. Little has grown its office in Charlotte from 40 employees occupying a single, small office to now employing over 200 locally. Bell and Christenbury took that incredible growth into consideration when assisting the firm in finding a new place to call home. After looking at possible sites in Midtown, SouthEnd, Uptown, NoDa and North End, Little selected Portman Holding’s 615 [...]
Cushman & Wakefield and Katten Announce Panelists for 2018 Outlook on the Commercial Real Estate Market
(Charlotte, N.C.) – Katten and Cushman & Wakefield announced today the panelists for its 11th Annual Outlook on the Commercial Real Estate Market, which offers the Charlotte business community an opportunity to discuss real estate issues facing the industry in 2018. The free, invitation-only event is Thursday, January 11 in uptown Charlotte. "For more than a decade, we have offered the Charlotte business community an opportunity to discuss real estate issues facing the industry in the New Year," said Dan Huffenus, event moderator and Katten's Charlotte Managing Partner and Real Estate Practice Head. "This year, we look forward to addressing the current economic cycle and its impending effect on Charlotte and the surrounding areas as well as the potential impact of recent tax and regulatory reform." Speakers and panelists will include Cushman & Wakefield's Revathi Greenwood, Americas Head of Research, and Marc Robinson, Vice Chair, as well as John "Johno" [...]
CHARLOTTE, NC, December 13, 2017 – Cushman & Wakefield announced that Bakkavor signed a nine-year sublease for 55,000 square feet as the newest tenant at Ridge Creek West Industrial Park in Charlotte. Ridge Creek West is a three-building park located at 10220 Western Ridge Road that totals 810,000 square feet. Andrew DeLamielleure and Matt Treble of Cushman & Wakefield represented the tenant, Bakkavor. Matt Harper of Childress Klein represented the landlord and the sublandlord in conjunction with Jim Vann of Moody Rambin. “We are excited for Bakkavor and this location,” said DeLamielleure. “The company intended to wait until 2018 for this facility, but with some creativity and the help of Childress Klein, we were able to secure a location that was able to accommodate the requirement today.” Bakkavor is expanding its presence in the U.S., and this facility will manufacture specialty breads. Bakkavor products are already available in three Charlotte-area [...]
CHARLOTTE, NC, December 07, 2017 – Cushman & Wakefield would like to congratulate Zach McLaren on winning the Charlotte Region Commercial Board of Realtors (CRCBR) President’s Award for 2017. Each year at the CRCBR Annual Meeting in December, individuals are recognized who have furthered the industry, profession, or association over the past year. The President’s Award is given to one commercial realtor for outstanding work and contributions to CRCBR. Zach is on the Cushman & Wakefield Tenant Representation team and serves on the CRCBR Board of Directors and also chairs the Membership Committee. This year’s meeting was held on December 5 at Quail Hollow Club and featured Pat McCrory as the keynote speaker.
One of the fastest growing franchises in the U.S. seeks dynamic Charlotte Market prime for co-working space. CHARLOTTE, N.C. – Dec. 4, 2017 – Office Evolution – a rapidly-growing B2B franchise offering 24/7 co-working space, private office space, virtual offices and business services – has partnered with Charlotte business leader, Jason Ward, to open a news business center in the Mallard Creek and University City area. Cushman & Wakefield’s Charlotte tenant representation team worked in conjunction with the company’s Denver office to close this deal. Director, Zach McLaren, and Associate, Christianna Williams, will continue to work with the Cushman’s Dallas tenant representation team as Office Evolution looks to expand and grow throughout the Charlotte region. Expected to open in early March 2018, the new 6,104 square-foot business center (located at 10926 David Taylor Drive, Suite 120 in Charlotte) will offer small businesses and entrepreneurs professional, on-demand office space – from [...]
Tryon Park at Rivergate in Charlotte, N.C., features a business center, saltwater swimming pool and a fitness center with a yoga and Pilates studio. CHARLOTTE, N.C. — Cushman & Wakefield has arranged the $32.7 million sale of Tryon Park at Rivergate, a 202-unit apartment community in Charlotte. Jordan McCarley, Marc Robinson and Watson Bryant of Cushman & Wakefield arranged the transaction on behalf of the seller, Charlotte-based White Point Partners. Raleigh-based Chaucer Creek Capital acquired the asset. Tryon Park at Rivergate features a business center, saltwater swimming pool, fitness center with a yoga and Pilates studio, car care center, dog park, grilling stations and detached garages.
Congratulations to Jessica Brown, Executive Director of Agency Leasing, for being one of twelve members selected to the Charlotte Chamber's Board of Directors! She will be serving a three year term as part of the class of 2020. Please join us in congratulating Jessica on this well deserved honor!