Category: Leasing

23 Jun Spotlight on North Carolina Net Lease Restaurant Tenants

In addition to its many retail and office properties, Centrex Properties also manages a net lease portfolio of 10 properties in North Carolina and Virginia. Two of our North Carolina tenants, McAlister’s Deli and Firehouse Subs have been part of our portfolio since 2015. In just three short years both restaurants have become wildly successful and favorites for many locals.

McAlister’s Deli is located at 431 Berkeley Blvd., in Goldsboro, between Ash Street and Cashwell Drive at Crossroads Plaza. The area is a busy shopping and dining destination adjacent to the Berkeley Mall and convenient to the main gate into Seymour Johnson AFB. This location makes McAlister’s a great place for shoppers, neighbors, and friends to grab lunch or dinner. McAlister’s, rooted in southern hospitality, is known for their wide variety of menu options, a quaint and friendly environment, but mostly for their delicious sweet tea. It’s not just a drink, it’s a culture. Stop by and try some!

Firehouse Subs is located at 4111 Ed Drive just off Edwards Mill Road, north of Duraleigh Rd. in Raleigh. The highly traveled area is a popular dining destination for visitors of the PNC Arena seeking to grab dinner before a game or show. Firehouse Subs happens to be across the street from the Centrex office and convenient to Rex Hospital, so it’s a favorite lunch spot too. At Firehouse Subs, subs are only part of the story. In 2017, a portion of every purchase goes to the Firehouse Subs Public Safety Foundation, to be used to provide lifesaving equipment to first responders. Stop by the Raleigh location, where you are always greeted by friendly staff and a “Welcome to Firehouse”!

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26 May Tenant Expansions and Growth at Tryon Village

Business is booming at the corner of Tryon Road and Walnut Street in Cary. The popular shopping destination, Tryon Village, is about to become home to a new Shuckin’ Shack Oyster Bar. Cary locals will soon be able to dine on delicious seafood while they grab a beer with friends. The growing franchise currently has 10 locations on the East Coast, with more in the works.  Shuckin Shack joins NCEENT to complete the new building at Tryon Village, bringing the shopping center occupancy again to 100%.  Both Shuckin Shack and NCEENT plan to open in late 2017.

We are also happy to announce that two of our long-term tenants, Dr. Stapleton, DDS and Pacific Nails, are expanding to accommodate their growth needs. Dr. Stapleton and her team have taken on an additional 1,200 SF, which will bring the practice space to 3,610 SF in total.  Pacific Nails’ expansion into 1,300 SF will allow the busy nail salon to increase their footprint to 2,600 SF.

We and all of the tenants at Tryon Village thank you for your patronage!  If you haven’t yet, come check out Tryon Village and see what all the hype is about!

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19 May 4040 Ed Drive Welcomes New Tenant

Centrex Properties is pleased to announce our newest tenant, Edward Jones at 4040 Ed Drive. Edward Jones moved into their new 1,289 SF office in January.  John Underhill and his team at Edward Jones specialize in retirement and college saving planning for clients, as well insurance and estate planning needs.

Located just south of Edwards Mill Road, 4040 Ed Drive is a two-story mixed use building; home to Centrex Properties. The property is currently 100% leased.
Centrex is pleased to add Edward Jones to the varied mix of their other valued, long-term tenants.  Original tenants since 2007, Deluxe Dry Cleaners, Roly Poly and Tenko Japan Restaurant were later joined by TM Nail Spa, EA Wells Hair, and Carolina Nutrition.
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19 Apr Boyd Hall Update

As Chapel Hill continues to grow, so does Boyd Hall. We are happy to announce our newest addition, Deep Springs, LLC. Deep Springs is a real estate management and holding company from Hillsborough, who have just leased 1,159 square feet at Boyd Hall.

Another of Boyd Hall’s tenants, Armacell  is expanding into an additional 3,376 SF, making their total square footage 14,240.

We are also excited to announce the opening of UNC Maternal-Fetal Medicine’s office. They have just completed the buildout of their new 8,000 square foot clinic. The clinic officially opens on May 1, 2017, but is now open for ultrasound appointments.

Boyd Hall is a Class A office building located at 55 Vilcom Center Drive on the corporate campus of Chapel Hill 40, just off Weaver Dairy Road, across the street from the Timberline Shopping Center. Currently there is one space remaining with 702 SF.

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27 Mar Construction at Tryon Village Underway

Centrex Properties is proud to announce the commencement of construction for our new 8,708 square foot building in the Tryon Village Shopping Center. Tryon Village, anchored by Harris Teeter, is located at the intersection of Tryon Road and Walnut Street in Cary. The new building sits at the southwest end of the current center and further enhances the existing 103,000 square feet of retail, restaurant, and service opportunities that the community already enjoys at Tryon Village.

North Carolina Eye, Ear, Nose & Throat  (NCEENT) will be the first tenant to move into 6,966 SF of the new building. NCEENT offers Ophthalmology, and Otolaryngology care for patients and they are also active in medical research and the training of new physicians.

NCEENT has five offices in North Carolina. Their main office is a 35,000 square foot state of the art medical office building designed for patient comfort and convenience in Durham, NC. They also serve patients in locations in Chapel Hill, Roxboro, and South Durham. The new location at Tryon Village will be a relocation of their current office in Cary on SE Cary Parkway.  NCEENT  is slated to open during fourth quarter, 2017.  The Tryon Village location will provide patients with a full range of their services, along with a complete optical center.

There is only one unit remaining in the new building at Tryon Village. The space is 1,742 square feet and features an outside patio, perfect for restaurant use.  Centrex will continue pre-leasing efforts at Tryon Village Shopping Center for the remaining 22,000 square feet of retail space.

Take a look at the Tryon Village brochure for information on the current tenant mix as well as all available spaces. Contact the Centrex Leasing Team with any inquiries about availability.

 

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7 Mar Spotlight on Wakefield Crossing

Wakefield Crossing is quickly becoming the one-stop location for all or your medical and professional needs. Located on Falls of Neuse Road in the Wakefield area of North Raleigh, close to Capital Boulevard/US 1, one mile from Rex Healthcare & Wellness. The 13,500 SF garden style office complex is situated on 1.41 acres and is home to some of the areas most prestigious and sought after businesses.

NC Neuropsychiatry (www.ncneuropsych.com) – Our most recent addition to Wakefield Crossing, NC Neuropsychiatry relocated to the center in January 2017. NC Neuropsychiatry began at the University of North Carolina in 1978 as the Neuropsychiatry Research Project, funded by the National Institutes of Health. In 1988, NC Neuropsychiatry, PA became the first private clinic in North Carolina devoted exclusively to medical psychiatry and rehabilitation. NC Neuropsychiatry treats both children and adults seeking help for ADHD, anxiety and mood disorders, brain injuries, developmental, neurological, and memory disorders. NC Neuropsychiatry also has offices in Chapel Hill and Charlotte.

Larkspur Salon & Spa (www.larkspursalonspa.com) – An Aveda exclusive salon offers hair services, massages, facials, manicures, pedicures, lash extensions, waxing, airbrush tanning, and nail services with the best pure-plant, professional-grade products. The salon also caters to brides with a private styling station for the bride and a large open floor plan that allows room for a photographer to capture their day.

Riccobene and Associates Family Dentistry (www.brushandfloss.com) – We like to think of Riccobene as the spa of Dentistry. With complimentary Starbucks coffee and hot cocoa, video games, free WiFi, and even blankets – this dental experience is both relaxing and inviting. Riccobene Associates has been the voted the Best Dentist in the Wake and Johnston counties by a number of publications, including Angie’s List and Cary Magazine, for more than ten years. Since their inception in 2000, our Raleigh-area patients have sought their dentists for pediatric, cosmetic, and family dentistry needs.

Currently, we are looking for the perfect tenant to round out our existing tenant mix. There is one remaining 2,252 SF first generation shell space available. The suite is ideal for a physician, chiropractor, physical therapy, as well as office professionals to build out and make their own. For more information about Wakefield Crossing contact our leasing team at 919-861-2102.

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21 Feb Spotlight on Lexington, SC’s Hendrix Crossing

Over the past few years Lexington, South Carolina has seen strong economic growth. It is currently the 4th fastest growing municipality in the state, and the retailers at Hendrix Crossing are enjoying the growth.

Located at US Hwy 378 & Charter Oak Drive, the Hendrix Crossing retail center serves the high demographic area of Lake Murray, one of the Midland’s most desirable residential areas as well as Lexington.

Publix Super Market, who was listed as one of the top 20 largest employers in Lexington by the SC Department of Employment and Workforce anchors the Hendrix Crossing retail center. The Florida-based supermarket chain has 57 stores in the state of South Carolina alone with 1,143 stores nationwide.

Publix is a huge draw for the retail center’s other tenants which include: Verizon Wireless, Grand Computers, Subway, Marco’s Pizza, Ultra Tan, Bella Nails, Fuji Grill, Great Clips, and the center’s newest tenant Ship n Print Solutions who opened their 1,500 SF store in October of 2016. Ship n Print Solutions fulfills customers’ packing, shipping, copying, printing, notary, and business service needs of the residents and businesses of Lexington, SC.

The highly traveled intersection of Hwy 378 and Charter Oak Road sees over 22,000 cars per day collectively. Adjacent to Hendrix Crossing are Zaxby’s, Waffle House, Doctor’s Care, and Grow Financial Credit Union. All of these factors contribute to the overwhelming success the tenants at Hendrix Crossing enjoy. For other retailers who are looking for a retail space, there is one 1,425 SF space that remains for lease at Hendrix Crossing.

For businesses that are considering the city of Lexington as a potential location to open a store, the city’s growth record is quite bright. For the fiscal year of 2016 Lexington had $70 million in new construction permits; a 35% increase over the prior fiscal year. In addition, the city expanded their municipal boundaries in 2016, with 16 annexations, encompassing 325 acres of property. Within this, the town welcomed two new schools, Meadow Glen Elementary School and Meadow Glen Middle School. Lexington is one of the fastest growing school districts in the state of South Carolina.

The next time you are in the neighborhood, stop by Hendrix Crossing and visit our stores. We are located at 851 Hwy 378, Lexington, SC 29072.

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27 Jan Palladium at Deep River Captures New Tenant In Growing High Point Market

Centrex Properties is pleased to welcome BenchMark Physical Therapy to Palladium at Deep River. Benchmark added the 1,611 SF space in December of 2016 to their over 220 physical therapy locations across 12 states. BenchMark chose High Point to fulfill a need for more physical therapy providers due to the increased growth in the High Point/Greensboro area.

According to the City of Greensboro’s January 2017 Growth and Development Trends Report, Greensboro’s rate of growth was higher than the state (24.8%) and national (14.2%) rates from 2000-2015. Greensboro grew at 27.4% and High Point at 27.9%. With this growth, Guilford County (High Point/Greensboro) has seen a substantial rise in real estate development activity in both the residential and commercial markets. Between 2014-2015 there was a 54.4% jump in commercial property permits. From 2010 to 2015 the value of new commercial construction in Greensboro increased significantly by 44.7%. Apartment construction values rose to an astounding 123%, while single-family residential increased by 48.5%, proving the area continues to be on an upwards swing for growth. Most notably, in the commercial sector, the area has several large distribution and manufacturing facilities planned to accommodate the increasing need for this property type.

Currently, Centrex Properties has one remaining space available at Palladium. With 3,439 SF, the space is perfect for an office/flex tenant. Centrex is currently offering excellent leasing incentives for this space.

Palladium at Deep River is a 60,300 SF retail/office center strategically located in the desirable Palladium Park area of High Point to serve both Greensboro and High Point. The center’s tenants enjoy fantastic exposure to West Wendover Avenue with 30,649 vehicles per day. Palladium at Deep River is surrounded by residential, shopping, and office properties and is anchored by Food Lion. Adjacent to the center are national tenants such as Walgreens, Office Depot, Zaxby’s, and Burger King.

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17 Nov Boyd Hall Captures Prestigious Tenants

Over the past two years, the Chapel Hill commercial real estate market has experienced a substantial increase in tenancy. Office properties saw a significant drop in vacancies from 16% in January 2015 to 8.75% in October 2016. Centrex Properties is happy to announce that Boyd Hall has been able to capture some of those new and prestigious tenants. Here are our newest tenants that helped us to successfully improve occupancy at Boyd Hall.

Most recently, UNC Maternal-Fetal Medicine, offering obstetrical care for women, leased approximately 8,000 SF. Construction will begin shortly with an anticipated occupancy of April 2017.

Oak Foundation, Learning Differences Programme, has been a long-term tenant at Boyd Hall and recently expanded its operations. The Learning Difference Programme for Oak supports teacher development, student engagement, and parental understanding to enable students to follow their individual paths to lifelong learning success.

Atox Bio, a biotechnology company, headquartered in Israel, leased 1,959 SF for their Chapel Hill operations.

In 2015, Armacell, manufacturers of Armaflex – a mechanical insulation product, moved their corporate office from Mebane, North Carolina to their new 10,864 SF office at Boyd Hall.

Boyd Hall is a Class A office building located at 55 Vilcom Center Drive on the corporate campus of Chapel Hill 40, just off Weaver Dairy Road, across the street from the Timberlyne Shopping Center.

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2 Nov Centrex Properties’ Timber Commons in Garner, North Carolina – Now 100% Leased

With the addition of 4 new tenants, Timber Commons is now 100% leased. The 25,340 SF garden-style medical/office park is located at the corner of Timber Drive and Aversboro Road in Garner. Thanks to TradeMark Properties’ leasing team, Centrex Properties is excited to announce the following new tenants at Timber Commons:

  • Florida-based, Pickett Surveying & Engineering, an engineering, surveying, and mapping firm moved into 1,656 SF this past spring.
  • Augustine Home Health Care, a professional and personal care company for seniors, moved into 1,584 SF in June. The company also has multiple locations in Maryland and Texas.
  • UNC Pediatrics moved into 3,025 SF this past September. The company has multiple Pediatrics locations throughout the Triangle.
  • Edward Jones has leased 1,430 SF at Timber Commons and expects to move into their new office in January of 2017.

Other existing tenants at Timber Commons include Avance Care, Alignment Healthcare, Q1 Clinical Consultants, ACI Support Specialists, McClure Orthodontics, and David Hall DDS.

We thank all of our tenants for choosing Timber Commons as their home.

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20 Oct Centrex Properties Welcomes New Tenants At Traemoor Village In Fayetteville, North Carolina

Traemoor Village, located on Rockfish Road in Fayetteville, is a 76,325 SF neighborhood retail center serving Fort Bragg and Hope Mills. With the recent influx of residents and growth in the area, retailers are anxious to make this popular shopping center their home. Traemoor Village, anchored by Harris Teeter, has excellent visibility with great, value-add tenant mix (including McDonald’s and CVS). These attributes continuously drive increased traffic and improved customer base.

These factors played a significant role in the decisions of the center’s newest tenants when they chose to make Traemoor Village their new home.

Centrex Properties is thrilled to welcome our latest tenants to Traemoor Village:

– 9 Round Boxing Studio, a national franchise offering 30-minute kickboxing circuit training;
– Hokkaido Express, locally owned restaurant offering Japanese/Chinese cuisine;
– Resound Yoga, locally owned, moved into their new home when they outgrew their Raeford studio. Come check out their premium “Zebra Flooring”;
– Tropical Smoothie Café is not just for smoothies anymore! Slated to open in early 2017, Tropical Smoothie will offer sandwiches, wraps, salads and smoothies.

What’s left for lease at Traemoor Village? As of October 2016, there is one remaining in-line space consisting of 3,615 SF. The unit can be divided into 2-3 bays. There are also two out parcels available for ground lease – an .80 acre parcel fronting Lakewood Drive, and a .96 acre parcel fronting Rockfish Road.

Contact Centrex Properties’ Leasing Team for more information about these great lease opportunities before they are gone.

Traemoor Village Brochure

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24 Feb Why Everyone is Talking About Cornerstone Village Shopping Center In Cary

Centrex Properties’ Cornerstone Village Shopping Center in Cary is the new home of the first H Mart in North Carolina. H Mart is a grocery chain specializing in Korean and Asian foods and currently operates more than 40 stores in the US.

Residents across the Triangle are excited that H Mart chose Cornerstone in Cary for the location of their first ever North Carolina store, and are anxiously awaiting the store’s opening. The new grocer has started renovations to the 45,488 square foot former Lowes Foods space and is currently scheduled to open mid-2016.

But the excitement surrounding Cornerstone Village doesn’t stop there. The Shopping Center was also recently recognized as the “Triangle’s Top Retail Lease in 2015” by the Triangle Business Journal. CBRE/Raleigh assisted Centrex Properties in bringing H Mart to Cary with a 15-year lease, valued at $11M.

Cornerstone Village Shopping Center is located at the intersection of High House and Davis in Cary, and is also home to Rudino’s, Fantastic Sams, My Eye Doctor, and Sun Tan City, to name a few. Unfortunately, tenants who are anxious to join H Mart in the Shopping Center will have to get on the waiting list, as Cornerstone Village is currently fully leased.

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