Millions more invested in Concord
Laurel View apartments, off George Liles Parkway, recently sold for $41.39 million. It is 174 units.
Miss a is a retail makeup store that is coming to concord Mills Mall.
Builders keep building, and investors keep investing. The Cabarrus County market continues to be strong for industrial and commercial projects.
No. 1
Concord apartment complex sold. Northmarq's Carolinas Investment Sales team led by Andrea Howard, John Currin, Austin Jackson, Jeff Glenn and James Dorsett successfully completed the $41.39 million sale of Laurel View Apartments, a 174-unit garden apartment community located at 350 Joshua Place in Concord.
The complex is off George Liles Parkway, near Laurel Park.
Northmarq represented the seller, Gamma Real Estate. The buyer was Southwood Realty.
"Laurel View is a high-quality 2017-vintage asset positioned to deliver durable cash flow and long-term growth for its new owner. Concord continues to attract high-paying employers and outsized population growth, solidifying its position as one of the Charlotte region's most dynamic and sought-after suburbs," said Howard.
Built in 2017 and sitting on 11.3 acres, Laurel View offers residents a life of luxury, relaxation and convenience. The community features one-, two and three-bedroom floorplans with luxury plank flooring, spacious granite countertops, open and airy floor plans, additional storage throughout the apartment, stainless steel appliances, modern cabinetry, large patios or balconies, and walk-in closets.
Community amenities include a state-of-the-art fitness center, resort-style swimming pool with cabanas, resident clubhouse and cyber café, outdoor entertainment areas and grilling stations, fire pit, pet park and spa, car wash station, package concierge service, online maintenance requests, and 24-hour emergency maintenance.
No. 2
A new business park on N.C. 73. The project in question is on the north side of N.C. 73 and backs up to I-85. If you are looking across the highway toward the gas station and McDonald's, the property is on the right.
McCraney Property Co. closed on nearly 55 acres just off the N.C 73 interchange with I-85. It will be called Concord Gateway. The project will cater to light manufacturing, R&D and distribution tenants.
The industrial park is slated to be in two phases with about eight buildings and a total of nearly 400,000 square feet, according to a report by ConnectCRE. Planned suites will range from about 10,000 to 64,000 square feet.
The property address is 4518 Davidson Highway. The project's value is estimated at $45 million.
No. 3
$77 million Lilly building permit. Eli Lilly continues to expand in Concord. The latest building permit is for $77 million to expand manufacturing lines.
The Charlotte Business Journal quoted a company spokesperson who said the work "is continued progress on existing commitments."
Lilly just announced that it would build four new U.S. manufacturing sites and push its U.S. capital expansion commitments to $50 billion.
On a side note, all the construction and grading across U.S. 29/Concord Parkway is for the Red Bull/Rauch/Ball complex. I keep reading social media posts asking, "Hey what are they doing over there?"
No. 4
We were wrong. Earlier this week, we reported that the Cannon School girls' basketball team had won its fourth straight state title. It was the third straight for the Cougars and their fourth in five seasons. Congratulations!
No. 5
A new store is coming to Concord Mills Mall. Every time I go to Concord Mills, I see something new. It looks like Miss A is supposed to open some time this spring. It is a $1 retail makeup store.
The business began in 2013 and has grown to more than 80 stores and more than 1,000 employees.
Makeup is expensive. I wonder how they can sell it so cheaply.
No. 5A
More changes are coming to the newspaper. I don't have a lot of details, but new benefits for subscribers are coming and a couple of things for non-subscribers. Those are coming from Lee Enterprises corporate.
As many of you know, I'm currently the only editorial staff member here at the paper. That means I'm always looking for ways to bring more local stories and familiar faces into our pages and onto our website.
One way we're going to do that is through a new series of simple question-and-answer forms that readers can fill out to help us spotlight local people and businesses.
The goal is simple: Highlight the people in our community we should all know.
Do you know a student who is doing something exceptional? A neighbor who quietly gives back to the community? A business owner with a story worth telling? If so, send me an email and I'll forward the form so they can share a little about themselves.
Some readers may remember the "new business" forms we've used in the past. This works on the same idea — letting people tell their own story while giving us the chance to share it with the community.
And one more request: Photos are always welcome. A good picture helps bring these stories to life.
If you know someone who deserves a little recognition, let's make sure their story gets told.
If you have a Friday Five, story suggestion, or something I can rant about, email mplemmons@independenttribune.com or call or text 704-786-0001.
