Capital Group is opening a major East Coast operations hub in Charlotte, the company announced in a release Thursday.

An aerial view of Charlotte

The new hub will be a base for the investment firm’s legal, compliance, technology and data work, and it will also support its domestic and international growth, according to the release. The firm said it had selected Charlotte due to the metro area’s “strong and growing talent pool” in the financial services space and its thriving business scene. 

“Charlotte stood out as a natural fit for Capital Group’s next phase of growth,”  Capital Group Chief Operating Officer Rob Klausner said in a press release from the city of Charlotte.

Capital didn’t disclose the exact location of the hub, but Axios reports it will be in Uptown Charlotte. 

The hub will bring in an additional $5.2B in state tax revenue over 12 years, according to the North Carolina governor’s office. The state is making available up to $17M in reimbursement funds through the state’s job development investment grant program because of the firm’s estimated $60M investment in the state. 

As part of the move, the firm will close its office in Virginia’s Hampton Roads area by the end of 2027, Bloomberg reported. 

In the same announcement, Capital said it would invest in its newly purchased Los Angeles headquarters. This past week, the company entered an agreement with a Brookfield Properties entity to purchase the Bank of America Plaza office tower at 333 S. Hope St. in Downtown Los Angeles. It previously leased 320K SF of office space at the tower in a long-term lease that was set to expire in 2030. 

Capital boasts more than 9,300 associates in 33 offices across the world, including Asia-Pacific, Europe and North America. Sixteen of those offices are in the U.S., with four in California.

CommScope, a North Carolina telecommunications company and one of Catawba County’s largest employers, is halting a long-planned expansion project, according to The Charlotte Observer. 

The fiber-optic manufacturing facility project in the town of Catawba, just north of Charlotte, was projected to cost $60M and bring 250 new jobs to the region, according to a 2023 press release by the North Carolina Department of Commerce.

North Carolina’s Economic Investment Committee also terminated a nearly $2M economic development agreement grant it gave CommScope last summer as an incentive for the project. 

The demise of the expansion, announced Jan. 13, comes about a month after CommScope informed the state it would not reach its local hiring or investment goals.

In a letter, the company placed partial blame on delays in grant funding from the federal Broadband Equity Access and Deployment program, which works to expand high-speed internet access across the country.

The White House updated oversight of the federal grantmaking process in August 2025 through an executive order. Among the changes, the order calls for more oversight by senior government appointees or their designees in awarding grants. The National Association of Development Organizations, a nonprofit supporting regional and local government officials and development organizations, warned that the additional scrutiny may “introduce delays into the grantmaking process.”

CommScope reportedly told the state commerce department that a recent acquisition was another factor for missing hiring and investment goals.

On Jan. 12, the telecommunications company Amphenol Corp. announced the completion of its $10.5B purchase of CommScope’s Connectivity and Cable Solutions business. 

The parts of CommScope’s business that were not folded into the Amphenol merger will be rebranded as Vistance Networks.

Cannon Commercial obtained $60 million in financing to acquire a 2 million-square-foot industrial portfolio comprising two buildings, one each in Jacksonville, Fla., and Hammond, La. The properties are both fully leased to regional grocery chain Winn-Dixie. JLL secured the 10-year, fixed-rate CMBS loan.

The Jacksonville location is 12 miles from Jacksonville International Airport in the Riverside submarket, while the Hammond site is between New Orleans and Baton Rouge, La. Both assets are considered mission-critical distribution centers for Winn-Dixie, a subsidiary of Southeastern Grocers, which is owned by ALDI.

JLL’s Jeff Sause facilitated the deal along with Joshua Blank. Sause said Winn-Dixie’s long-term occupancy and the assets’ locations in growing Southeast markets made this deal attractive to lenders.

Cannon TTM is an arm of Cannon Commercial, a private real estate investor. The firm recently acquired Wilshire Rodeo Plaza in Beverly Hills, Calif., from Nuveen for $211 million.

Register Today to “Be in the Room” when Michael Brennan receives Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation! 

An entity affiliated with San Francisco-based FPA Multifamily has acquired The Atrium on James apartments in Kent for $60.5 million, or $201,667 per unit.

Institutional Property Advisors (IPA)‘s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino represented the seller, a Tenants in Common managed by Open House Westwood LLC, and procured the buyer.

The 22-building, 300-unit property is located at 6248 S. 242nd Place. FPA Multifamily purchased the asset on behalf of its Opportunity Fund VIII, which has acquired $1.5 billion of assets. “The buyer recognized the long-term fundamentals and robust economic drivers in our market and took the opportunity to expand their portfolio in the region,” said Giovanni Napoli, IPA executive director.

The property, developed in 1989, has a mix of one-, two- and three-bedroom units averaging 835 square feet. In 2023, FPA Multifamily bought Waters Edge, a 304-unit multifamily asset located in The Lakes master-planned community in Kent for $80 million.