A $35 million investment is being proposed by Hendrick Motorsports to build a 260,000-square-foot production facility next to its Concord location. According to the Charlotte Business Journal, the town has suggested $124,950 in incentives for the project. The facility is anticipated to be built on a 27-acre plot of land located in Concord at 4295 Defender Way NW. Charlotte Motor Speedway is less than two miles away from the location. The project would join two other recent investments in advanced manufacturing from Hendrick Motorsports in Concord, assuming it proceeds. In January 2023, the first project was announced, requiring an investment of $15 million. Additionally, Hendrick was planning a 269,500-square-foot, speculative advanced manufacturing complex. Additionally, the city provided incentives for the project, which seems to be comparable to the most recent proposal.
The Eastside Heights condominiums cost $63.26 million to purchase from LIV Development. According to the Nashville Business Journal, it is around a million dollars less than what Steadfast Cos., the property’s seller, paid for it in 2019. The structure, which was co-developed by Southeast Ventures and Hardaway Construction, debuted in 2017 and is close to the East Bank. With 249 apartments, 8,000 square feet of ground-level retail space, and a 360-space parking garage, Eastside Heights is a five-story building. The purchase price per unit was approximately $254,076. Over 20,000 apartments have been created by LIV Development, mostly in the southern U.S. The company now owns Livano Nations and Livano Trinity, two apartment complexes in Nashville. In 2018, it sold The Cleo, another apartment complex in East Nashville, for $66.98 million.
For $32 million, New England Investment Properties bought the 342,162-square-foot property at 121 W. Trade Street. According to the Charlotte Business Journal, it is less than half of the price it sold for in 2015. In late 2015, Lincoln Property Co. purchased the tower for $71.6 million on behalf of a client who was a pension fund. Lincoln was represented by Patric Gildea, Matt Smith, and Robert Hardaway of CBRE. Constructed in 1990, the skyscraper occupies a.42-acre plot of land at the intersection of Tryon and Trade streets. Sixty-six percent of its 121,950 square feet are leased. In 2017, the lobby, common areas, and restrooms at 121 W. Trade were renovated. A brand-new tenant hub featuring conference rooms, formal and informal gathering spaces, and a training room for fifty people was added. Among the improvements was a tenant lounge. The building is the longtime home of the Charlotte City Club, which has been located on the 31st and 32nd floors since 1990.
under Nashville and Knoxville, Tennessee, S2 Capital (“S2”) purchased a troubled multifamily portfolio that included four buildings that were under foreclosure. In Dallas, another property was acquired. S2 obtained a new five-year, $170 million senior loan from ACORE cash and used $60 million of rescue cash to engage in a new joint venture with the current Limited Partner through a structured preferred equity investment. In order to safeguard the preferred equity investment, S2 will assume the role of general partner and have complete operational control over construction, property, and asset management in addition to significant decision-making authority. Off-market sourcing was used for the transaction. Ryan Everett of S2 remarked, “Given the ongoing 11% supply and permits have plummeted by 80% to less than 2.5% of inventory, coupled with expected strong household formation and in-migration year-over-year demand growth, our internal data analytics platform projects Southeast Nashville to be a top quartile submarket for investment.”
