Tag: Lease

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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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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11 Nov Spotlight on Market Square

As we enter the busy holiday season, the tenants at Market Square in Goldsboro are gearing up to make their customer’s lives bright and cheerful. The center is home to national and regional tenants as well as locally owned stores.

For those out and about doing their holiday shopping, Market Square has lots to offer. You can find all the fixin’s for a feast at Carlie C’s IGA. Their “just like grandma used to make” signature specialty items will make holiday dinners delicious and easy. Pick up one of their yummy Nine-Layer cakes; fresh pecan pies, and their famous country ham, still salted by hand. Don’t forget your greens! Mr. Carlie C’s grandson grows fresh collards and slow cooks them to perfection. While you’re there, feel free to stop by the deli for a sample of their famous chicken salad and pimento cheese.

Looking to add some sparkle for someone special? Alan Sutton Jewelry is the perfect place to find a gift. With many designer brands and styles to choose from, Alan Sutton’s team of jewelry and diamond experts can help you choose the perfect gift!

Calling all gentlemen – Cannon’s Men Shop can help you look your best for the holidays. Whether you need a tux, a new suit or just something special to wear, Cannon’s has a great selection no matter what the occasion.

Ladies, if you’re looking to get that perfect style for your upcoming event, then Ultimate Raaz Hair Salon has you covered. Their team of professional stylists are ready to make you look gorgeous for the holidays. Then head over to VM Nails to finish off the new look with a fresh manicure.

Hungry holiday shoppers can stop by Hwy 55 Burgers Shakes & Fries, Golden Star Chinese, Dairy Queen, or Quiznos to fuel up before heading out to do their shopping.

Market Square proudly welcomes its newest tenant, Strickland Insurance & Brokerage, opening in January.

From all of the tenants at Market Square, we wish you a warm, happy and safe holiday!

Market Square is located in the town of Goldsboro, North Carolina, at the intersection of Wayne Memorial Drive and Hwy 70.
Only one vacancy remains! Contact the leasing team at Centrex Properties, Inc. for more information.

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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.


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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