Constellation Real Estate Partners acquires 41 acres in Charlotte, NC

 Chris Brown

CHARLOTTE, NC — Constellation Real Estate Partners, an investor and developer of logistics properties, has acquired 41.42 acres of land in Charlotte, North Carolina for the development of Constellation 485 South, a 374,220-square-foot Class A industrial building located on Continental Boulevard in the Southwest/Stateline submarket.  

Construction of Constellation 485 South will begin in July 2024 with completion scheduled for August 2025.

        The price was not disclosed.

              “Constellation continues to source, assess, and secure Southeast investment opportunities within customer-preferred industrial markets,” said Chris Brown, Partner at Constellation Real Estate Partners.  “We acquired Constellation 485 South due to its desirable location with highway visibility and convenient access to two major interchanges.”

             

Henry Lobb

The project will feature a rear load building that is designed to achieve LEED certification with 36-foot clear height, significant trailer parking, ESFR sprinkler systems, and LED lighting.

The building can accommodate a wide range of users from 100,000 square feet to 374,000 square feet. Constellation 485 South was designed by ARCO Design/Build.

Constellation 485 South is ideally located near major thoroughfares – two miles or less to both Interstate 485 and Interstate 77, providing convenient access to the region.  It is also 6.5 miles from Charlotte’s airport and 10.6 miles from Downtown Charlotte.

Abby Rights

Marketing and leasing efforts for Constellation 485 South will be exclusively handled by Henry Lobb, Abby Rights, and Garrott Braswell of Avison Young with Chris Skibinski providing capital markets strategic advisory services.

Garrott Braswell 

“This site is one of a kind. We are excited to partner with Constellation on their first Charlotte industrial project,” said Skibinski, Managing Director of Avison Young’s Charlotte office.

 Jeremy Giles

About Constellation Real Estate Partners

Founded by Jeremy Giles and Hien Le, Constellation Real Estate Partners specializes in the investment and development of logistics properties throughout Southeastern and Southwestern United States. 

The company focuses on three core competencies: speculative development, build-to-suit development, and value-add acquisitions.  

Established in 2021, Constellation Real Estate Partners has rapidly emerged as a stable and thriving player in the industry, backed by a team rich in capabilities and expertise. 

Hien Le

Its principals have over 125 years of combined experience, have invested over $25 billion in industrial real estate, and developed over 100 million square feet. 

 

Contact: 

   

 David Ebeling

 Ebeling Communications

 (949) 278-7851

  david@ebelingcomm.com

 

www.constellationrep.com.

 

Stos Partners acquires 35,007-SF industrial building in Phoenix, AZ for $4.45 million

  

 CJ Stos

PHOENIX, AZ -- Stos Partners, one of the most active commercial real estate investment and management firms, has announced that it has acquired a 35,007-square-foot industrial complex located on 1.45 acres at 2325 W. Cypress Street in Phoenix, Arizona for $4.45 million ($127 per square foot).

Jason Richards

Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Acquisitions Morgan Hill, the company will immediately implement a capital improvement program, stabilizing and re-tenanting the asset.

Rob Martensen and Sam Jones of Colliers have been retained to oversee leasing at the industrial complex.  Jones also represented Stos Partners in the acquisition. James Cohn and Stirling Pascal of Stream Realty Partners represented the seller.

Jay Boyl

“With the evolution of distribution, logistics and manufacturing, Phoenix continues to grow with industrial users and maintain strong fundamentals,” says CJ Stos, Principal at Stos Partners. “Our team identified this asset’s acquisition opportunity and immediately began performing due diligence. Through deep relationships with local brokers, we were able to acquire it for all cash and at a price that fit our business plan.”

Morgan Hill

“The Phoenix industrial market saw new leasing activity reached 6.3 million square feet during the first quarter of 2024, representing a 60 percent spike compared with the previous quarter, according to JLL’s Q1 Phoenix Industrial Report,” said Richards. 

2325 W. Cypress Street is ideally located near the interchange of the I-10 and I-17 Freeways, providing convenient access to neighboring communities and accessibility for transport and logistics.  It is also located only seven miles from Phoenix Sky Harbor Airport.

Competitive building features include 20 to 22-foot clear height, four dock high doors, two drive-in ground level doors, fully fenced and secured yard, and 1,500 square feet of new office space.

 

Contact:

 

David Ebeling

Ebeling Communications

(949) 861-8351

david@ebelingcomm.com

Ware Malcomb Promotes Chris Strawn to Vice President, Civil Engineering

Chris Strawn

 

 DENVER, CO – Ware Malcomb, an award-winning international design firm, announced that Chris Strawn, P.E., has been promoted to Vice President, Civil Engineering. In this role, he oversees the firm’s land development civil engineering practice and leads the expansion of its civil services across the Americas.

“Chris is an accomplished civil engineer who has made substantial contributions to the firm through his leadership of our civil engineering practice and as a member of our executive team,” said Matt Brady, Executive Vice President, Ware Malcomb. “We congratulate him on this well-deserved promotion.”

 Matt Brady

Prior to joining the firm, Strawn ran a successful Denver-based civil engineering firm for more than ten years.

Strawn earned a Bachelor of Science in Civil Engineering degree from Colorado State University, and an MBA from Daniels College of Business at the University of Denver.

 

Contacts:

 

 Rachel Devany

VP Public Relations,

 KCOMM for Ware Malcomb

Maria Rodgers, Director, PR & Communications, 949.660.9128, mrodgers@waremalcomb.com \

 

Sean Boswell, PR Specialist, 949.660.9128, sboswell@waremalcomb.com.  

JLL arranges $6 million refinancing for mixed-use property in St. John, U.S. Virgin Islands

Amy Lousararian

 BOSTON, MA –  JLL Capital Markets has arranged a $6 million refinancing for The Marketplace, a 55,100-square-foot mixed-use property offering essential retail, office, storage and hospitality uses in St. John, U.S. Virgin Islands.

 

Anthony Cutone 

JLL worked on behalf of the borrower, Mugar Enterprises, Inc. to secure the five-year, fixed-rate loan through Bank of New Hampshire.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Anthony Cutone and Managing Director Amy Lousararian.

The Marketplace is a three-story property offering office, retail and storage space alongside the 12-key Marketplace Suites boutique hotel. 

Renovated in 2020, the building is designed to withstand hurricanes and is ADA compatible.

 

Tenants at The Marketplace include Starfish Market, the largest of only three grocery stores on the island, Chelsea Drugstore, Firstbank and St. John Hardware.

The Marketplace, a 55,100-square-foot mixed-use property
offering essential retail, office, storage
 and hospitality uses in St. John,
 U.S. Virgin Islands.

Positioned on 2.01 acres at 4A Estate Enighed, the property is located within the heart of Cruz Bay, St. John’s main downtown area. 

The property benefits from the island’s strong tourism industry and is close to the ferry dock serving the island, the National Park Visitor’s Center and the start of many hiking trails, as well as numerous beaches, resorts, shops and restaurants.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

  

About Mugar Enterprises, Inc.

Mugar Enterprises, Inc. is a privately held, family firm with over 50 years of real estate development and investment expertise. To learn more, please visit: mugar.com.

 

 Contact:

 

 Kristen Murphy

JLL Director,

Public Relations

Phone: +1 617 543 4873  

Email: Kristen.Murphy@jll.com 

jll.com.