With interest rates at extremely lows levels and fears of rising inflation heating up, investors have flocked to real estate investment trusts (REITs) as an investment vehicle. Is it wise to do so, what is propelling this move, and what kind of performance should investors expect? This report will explain why there is a surge in demand for REITs and analyze how they are currently performing and how they have performed historically. 1. REITs are…
Chatham land slated for over 400 homes sells to Chicago company for $7.5M
By Caleb Evan Hoopfer – Staff Writer, Triangle Business Journal October 7, 2021 A Chicago-based real estate firm made a big splash in Chatham County recently. Singerman Real Estate purchased over 450 acres within the Parks at Meadowview master planned community in Pittsboro for $7.5 million, according to a deed filed Oct. 1. The land sits directly south of the Chapel Ridge development, which has over 800 homes, according to marketing materials for the property…
Closed Transactions – August 2021
SALES ADDRESS CITY/STATE TYPE REPRESENTATION ACRES/SF BROKER(S) 208 Mountain Brook Rd Sylva, NC Hospitality Seller 34.4 James Bailey 264 West Chatham St Cary, NC Land Buyer 0.43 Hunter Stewart 1016 N Salem St Apex, NC Land Buyer 1.43 Scott Hadley Strickland Rd Clayton, NC Land Buyer 140.24 Moss Withers Karah Jennings McConnell Strickland Rd Clayton, NC Land Buyer 231.75 Moss Withers Karah Jennings McConnell 5501 Fortunes Ridge Dr Durham, NC Office/Medical Buyer 18,395 Brian Farmer…
Work to begin on huge Apex development with office, retail and housing space
By Caleb Harshberger – Staff Writer, Triangle Business Journal September 10, 2021 Work is set to begin on a planned mixed-use development in Apex that looks to marry modern mixed-use urban-suburban designs with Southern small-town life. In the weeks to come, developers ExperienceOne Homes and New York-based The Kalikow Group plan to begin grading for the first phase of the Sweetwater Town Center project, with construction set to start shortly after. The group designed the…
UNC medical facility in Chatham Park sold for over $11 million to Tennessee firm
By Evan Hoopfer – Staff Writer, Triangle Business Journal September 9, 2021 The Chatham Park medical office building that’s home to UNC Health traded hands for over $10 million last week. Montecito Medical, based in Nashville, Tennessee, bought the property at 75 Freedom Parkway in Pittsboro for $11.37 million, according to a deed dated Sept. 2. The seller is listed as Privato, an LLC which lists Preston Development founders Tim Smith and Julian “Bubba” Rawl…
Raleigh developer plans 850 new homes in Johnston County after big land purchase
By Evan Hoopfer – Staff Writer, Triangle Business Journal August 12, 2021 A Raleigh developer purchased over 200 acres in the middle of Johnston County this week with plans for a development that will one day include 850 homes. Greenfield Communities bought a 230-acre parcel for $1.62 million, according to county records dated Tuesday. The development, being called Crescent Mills, sits along Strickland Road near the town of Wilson’s Mills. Matt Brubaker, president of Greenfield…
Pre-leasing begins for first flex industrial space at Chatham Park
By Evan Hoopfer – Staff Writer, Triangle Business Journal August 6, 2021 The first flex industrial space within the massive Chatham Park development is scheduled to come online next year. Chatham Park Commerce Center, which will sit near the U.S. Highway 64/64 Business split at Eubanks Road in Pittsboro, is now pre-leasing. Project plans call for five buildings initially, according to marketing materials. The first phases include a 71,000-square-foot flex space and a 35,000-square-foot warehouse/flex…
Q2 2021 ECONOMIC REPORTS
GDP GROWTH The U.S. economy rose at an annual rate of 6.5% in the second quarter, slightly more than in Q1 but disappointing to economists expecting even healthier growth. Nevertheless, it was a clear signal that U.S. growth has broken free of the pandemic’s suffocating economic effects as the expansion pushed GDP beyond pre-pandemic levels. A year ago, second-quarter GDP plunged 31.4% before rebounding 33.4% in the third quarter with subsequent quarterly gains. The Bureau…
Texas developer buys defunct Chapel Hill hotel for major redevelopment
By Caleb Harshberger – Staff Writer, Triangle Business Journal July 8, 2021 Last year, plans for a massive redevelopment of the University Inn in Chapel Hill fell into doubt after the developers pulled out of the project amid the pandemic. Now a new group has stepped up to claim the site and this week closed on the land. Houston developer The Dinerstein Companies is making its entrance into North Carolina with the $10.6 million acquisition…