Cushman & Wakefield Represents Buyer in Purchase of Shopton Ridge V

CHARLOTTE, NC, July 11, 2018 – Cushman & Wakefield announced that it has represented Dellner in the $4.6 million purchase of Shopton Ridge V, a 56,375-square-foot industrial building located at 4016 Shutterfly Road in Charlotte, NC. Charlie Ripple of Cushman & Wakefield represented the buyer and Terry Brennan of Trinity Partners represented the seller. The buyer, Dellner, acquired the asset in shell condition for $82 per square foot.  Dellner is a Europe-based company making a long-term commitment to Charlotte. Cushman & Wakefield led a two-year search exploring several expansion and relocation options before ultimately deciding on Shopton Ridge V. New construction, modern design, and room to expand their manufacturing and assembly business made Shopton Ridge V the ideal location. The purchase of this facility will allow Dellner the opportunity to offer more service lines to their existing customer base, hire additional employees, and expand their product offerings to new customers. About Dellner [...]

2018-07-17T08:50:27+00:00 July 17th, 2018|In the News|

1420 Magnolia Apartment Community Sells for $191,176 Per Unit

CHARLOTTE, North Carolina, June 22, 2018 – Cushman & Wakefield has arranged the $39 million sale of 1420 Magnolia, a 204-unit apartment community located in Charlotte, North Carolina. Jordan McCarley, Watson Bryant and Marc Robinson of Cushman & Wakefield represented the seller, Estates & Companies, in the transaction. Hudson Capital Properties acquired the property. “1420 Magnolia was a unique opportunity to acquire an extremely well-located, infill community that has tremendous value-add potential,” McCarley said. “The property is positioned in the epicenter of Montford Park, an area exploding with new commercial development and characterized by blue-chip demographics and access to Charlotte’s premier employment hubs.” “Cushman & Wakefield’s team, especially Jordan McCarley, represented our team with dignity and transparency while delivering a successful transaction for all parties involved,” said Matt Mundy, Development Manager at Estates Management Company. 1420 Magnolia, built in 1999, offers a best-in-class amenity package including a car care center, [...]

2018-06-20T11:02:41+00:00 June 22nd, 2018|In the News|

American Security Mortgage Signs as First Tenant at 150 Providence

The mortgage firm will relocate from SouthPark to Myers Park CHARLOTTE, NC, June 5, 2018 – American Security Mortgage has signed a 15-year lease at 150 Providence in Myers Park. Cushman & Wakefield Executive Director Jessica Brown and Senior Director David Dorsch represented the owner and landlord, Bucci Development, in lease negotiations. 150 Providence was previously the site of the Novant Health Bradford Clinic. The 1.4 acre site will be redeveloped into a high-end, boutique office building totaling 41,574-square-feet. American Security Mortgage will occupy the entire 3rd floor comprising 15,218-square-feet. Brian Bucci, Managing Member of Bucci Development, said “We develop generational assets with a superior location, high quality of design, and excellent tenants. 150 Providence Road and American Security Mortgage meet and exceed our expectations and we are completely thrilled to announce this development.” “Founded nearly 20 years ago, we have built our business on an understanding that every customer [...]

2018-06-05T13:31:48+00:00 June 5th, 2018|In the News|

Mesirow Financial Acquires 216-Unit Multifamily Property

CHARLOTTE, North Carolina, May 2, 2018 – Cushman & Wakefield has arranged the sale of The Enclave at Rivergate, a 216-unit apartment community located in Charlotte, North Carolina. Jordan McCarley, Marc Robinson and Watson Bryant of Cushman & Wakefield represented the seller, Passco Companies, in the transaction. Mesirow Financial acquired the property. “Southwest Charlotte, particularly Steele Creek, is a thriving submarket with outstanding job growth and attractive fundamentals,” McCarley said. “The Enclave at Rivergate is well positioned to benefit from the area’s momentum. In addition, this sale represents the continued demand that we’re seeing for communities in quality suburban locations.” “As the market flourishes, we viewed this as an opportune time to sell this asset, which ultimately generated an attractive return for our investors,” added Jeff Olshan, Senior Vice President, Multifamily Investments of Passco. The Enclave at Rivergate boasts the largest average unit size in the submarket (25 percent larger [...]

2018-05-03T19:45:06+00:00 May 3rd, 2018|In the News|

Cushman & Wakefield Represents Decision Support Management LLC in Sale of 3326 Siskey Parkway in Southeast Charlotte MSA

CHARLOTTE, NC, April 11, 2018 – Cushman & Wakefield announced today that it has represented locally based Decision Support Management LLC in the sale of 3326 Siskey Parkway, a 15,250-square-foot, two-story, fully leased office building in Matthews NC. Cushman & Wakefield’s Kris Westmoreland, David Hoppe and Grant Keyes represented Decision Support Management LLC in the lease up and sale. The buyer, a local investor, acquired the asset for $2.95 million, or $193 per square foot, and was represented by Phil Hayes of Land Investment Resources. 3326 Siskey Parkway was constructed in 2006 in one of Charlotte’s fastest growing markets. The property is currently 100% leased to four tenants on long-term leases and can truly boast about a location in a live, work and play environment as it shares access with retail, residential, fitness and other office properties. In addition, the surrounding five-mile radius has grown rapidly since 2010 with population [...]

2018-05-03T19:45:06+00:00 April 20th, 2018|In the News|

Cushman & Wakefield Closes Sale of Alexander Village in Raleigh MSA

CHARLOTTE, NC, April 13, 2018 – Cushman & Wakefield announced today that it has represented a private owner in the sale of Alexander Village, a 77,994-square-foot shopping center in Morrisville, NC. Cushman & Wakefield’s Sam Young and David Hoppe represented the seller. The buyer, a private investor from Dallas, acquired the asset for $11.3 million, or $145 per square foot. Alexander Village consists of 14.5 acres in one of the Raleigh/Durham area’s fastest-growing submarkets. The property is anchored by a Food Lion grocery store and is leased to a mix of retail, service-oriented and restaurant tenants. The shopping center benefits from 42% residential population growth and nearly 100,000 people employed in the surrounding area. “Wide investor interest in this property demonstrates strong demand for quality assets in high-growth North Carolina markets,” said Young. Added Hoppe, “Retail has always been about location, and Alexander Village is a high-performing asset in the [...]

2018-05-03T19:45:07+00:00 April 13th, 2018|In the News|

SeedSpark Signs for 10,000+ SF at Quail Plaza

CHARLOTTE, NC, April 11, 2018 – SeedSpark has signed a 7-year lease at 7621 Little Avenue in south Charlotte for 10,435 square feet. Cushman & Wakefield Executive Director Jessica Brown and Director Kris Westmoreland represented the owner and landlord, TriGate Capital, in lease negotiations. Quail Plaza is a 5-story, 88,450 square-feet office building off Pineville-Matthews Road and Johnston Road in south Charlotte. SeedSpark provides services such as Digital Transformation, Business Automation, and Web/Application Development and will take occupancy as of September 1st. “To accommodate our company’s dynamic growth, we had been looking for new office space but could not find the right combination of location, amenities, and value until we toured Quail Plaza,” commented SeedSpark CEO Chad Jenkins. “As soon as we saw the facility, we knew it was the ideal space for us to service our growing roster of clients. The entire SeedSpark team is looking forward to our [...]

2018-05-03T19:45:07+00:00 April 11th, 2018|In the News|

Cushman & Wakefield Arranges $30.3M Sale for Tribute Companies

  CHARLOTTE, North Carolina, April 2, 2018 – Cushman & Wakefield has arranged the $30.25 million sale of Myrtle Landing, a 144-unit apartment community located in Wilmington, North Carolina. At $210,000 per unit, the sale sets a new high water benchmark for multifamily sales in eastern North Carolina. Jordan McCarley, Watson Bryant and Paul Marley of Cushman & Wakefield represented the seller, Tribute Companies, in the transaction. Spyglass Capital Partners acquired the property. “Myrtle Landing is very unique property which offers new ownership the ability to target renters preferring a low-density condo-grade townhome community,” said McCarley. “While we are primarily long-term owners, the sale of Myrtle Landing has been a success for Tribute,” said Mark Maynard, Sr., CEO of Tribute Companies. “We think Wilmington is a great place to invest, and we look forward to increasing our investment with several exciting new projects in the pipeline.” Tribute is the largest [...]

2018-05-03T19:45:07+00:00 April 3rd, 2018|In the News|

Cushman & Wakefield Arranges $17.4M Multifamily Sale for Hamilton Point Investments LLC

CHARLOTTE, North Carolina, March 29, 2018 – Cushman & Wakefield has arranged the $17.35 million sale of Cushendall Commons, a 168-unit multifamily community located in Rock Hill, South Carolina. Watson Bryant, Paul Marley and Jordan McCarley of Cushman & Wakefield represented the seller, Hamilton Point Investments LLC, in the transaction. Triangle Real Estate of Gastonia Inc. acquired the property. “Rock Hill is a great market and I’m confident the buyer, who was a pleasure to deal with, will do well with this investment,” said Matthew Sharp, Co-Founder and Managing Principal of Hamilton Point Investments LLC. “The Cushman & Wakefield team came through for us, as always, and stewarded an annoyance-free transaction.” Cushendall Commons offers one-, two- and three-bedroom floor plans with walk-in closets, private balconies and oversized windows. Amenities include a state-of-the-art fitness center, resort-style pool, business center and a DVD library. “Hamilton Point Investments and Cushman & Wakefield made [...]

2018-05-03T19:45:07+00:00 March 29th, 2018|In the News|

Cushman & Wakefield Arranges $27M Sale for Artesia Real Estate

CHARLOTTE, North Carolina, March 21, 2018 – Cushman & Wakefield has arranged the $27 million sale of Oaks at Northgate & Leon Court, two multifamily properties totaling 386 units in Durham, North Carolina. Watson Bryant, Jordan McCarley and Paul Marley of Cushman & Wakefield represented the seller, Artesia Real Estate, in the transaction. “The sale of Oaks at Northgate & Leon Court is a tremendous success for our firm and we are confident that the asset is primed for the new owners to roll out their business plan,” said Colin Brothers, Principal and Owner of Artesia. “We’re very pleased with our team’s execution on the assets and look forward to continuing our investing in Raleigh-Durham.” In the past two years, Artesia spent $1 million in capital on an expansive list of improvements, including roof replacement, exterior paint, office/clubhouse rebuild, outdoor common area upgrades, and extensive landscaping. Amenities include a clubhouse [...]

2018-05-03T19:45:07+00:00 March 21st, 2018|In the News|