McCraney Property Co. is building a $45 million industrial park in Concord. Called Concord Gateway, the 55-acre site is just off Exit 55 of Interstate 85.

The plans call for the construction of eight buildings between 10,000 and 64,000 square feet, which would accommodate users from 4,000 to 30,000 square feet.

Charlotte Business Journal reports it will be built in two phases. The project’s first phase involves four buildings and is expected to be completed in 2026. The second phase includes the remaining four buildings and is planned for completion in 2028.

Concord City Council approved a one-year, $94,500 incentives grant for the Concord Gateway project.

McCraney’s portfolio includes another large industrial park in Concord, which is being developed in partnership with Fortius Capital Partners.

The new February One Park Deck, at 110 S. Davie St., is now open and accepting hourly and monthly parkers. It is located at the corner of East Market Street and Davie Street, across from the former News and Record site and adjacent to the future home of the 180-room Westin Greensboro. 

The February One Park Deck adds nearly 720 spaces to the City’s downtown off-street parking inventory. The deck has electric vehicle charging stations as well as automated and pay-on-foot stations for easy transactions. There are entrances on East Market Street and Davie Street, and a future entrance on February One Place will open once a planned streetscape project and hotel are complete. 

The deck will support the new hotel, which is expected to begin construction in the coming months and is poised to support economic development activity around the newspaper site and other areas of downtown.  

Ross Dress for Less has been assured $45 million in government incentives should it build a 1.7 million-square-foot distribution center in Randleman, south of Greensboro. The North Carolina Economic Investment Committee has promised $8.4 million, and Randolph County and Randleman have okayed $38.6 million. The county will also convey 30 acres of property valued at $1 million to Ross.

Ross wants to build the center, which will require a $450 million investment, at the I-74 Industrial Center off Highway 311 south of Greensboro. Samet Corp. will develop the project, which is expected to create over 800 jobs.

The Triad Business Journal reports an economic-forecasting model used by the N.C. Department of Commerce forecasts the project will increase the state’s gross domestic product by $1.4 billion and net state revenue $19.7 million, with a return on investment generating $1.61 for every state dollar invested.

Walker & Dunlop has provided $44.8 million in financing for the Ambling Portfolio, an eight-property, 741-unit multifamily portfolio in South Carolina, North Carolina and Alabama.

All of the units in the portfolio are subject to Land Use Restrictive Agreements, which require that 40% of the units must be occupied by low income tenants earning 60% or less of the Area Median Income. Five of the properties are located in South Carolina, two are in North Carolina, and one is in Alabama.

Jeff Lawrence, Matt Baptiste and Greg Krafcik of Walker & Dunlop secured the financing on behalf of the borrower, Infinity Real Estate Advisors and Infinity Capital Partners. The transaction represents the first investment in the fund, Infinity RE Impact, which was recently formed by Atlanta-based alternative investment management firm Infinity Capital Partners.

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