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.

Hendrick Motorsports is proposing a $35 million investment to develop a 260,000-square-foot manufacturing facility adjacent to its Concord campus.

The Charlotte Business Journal reports that the town has proposed incentives for the project, which are valued at $124,950.

The facility is expected to be developed on a 27-acre site at 4295 Defender Way NW in Concord. The site is less than two miles from Charlotte Motor Speedway.

Assuming the project moves forward, it would join two other recent advanced manufacturing investments from Hendrick Motorsports in Concord.

The first project, announced in January 2023, called for a $15 million investment. Hendrick was also plotting a speculative advanced manufacturing facility of 269,500 square feet. The city also incentivized the project, which appears to be similar to the most recent proposal.

Besides approving the project which will permit Hood Ventures to build a 210-unit multifamily community, the Concord City Council approved just over $170,000 in grants from the towns economic development office.

The $48.3 million project will also have 10,379 square feet of commercial space.

The project, that will have 148 two-bedroom units and 62 one-bedroom units, is going in between Bonnie Street Southeast and Woodsdale Place Southeast, along Cabarrus Avenue East.

The Charlotte Business Journal reports Concord city documents state that the area eyed by Hood Ventures is identified by the plan as one of nine opportunities for the public sector to intervene to help attract private investment.

Greenberg Gibbons Properties (GGP) is working with Tribek on a 750,000-square-foot industrial park off Pitts School Road in Concord. The park will span over 80 acres and include six total buildings.

Tribek is leading development of a 392,000-square-foot speculative industrial building there. GGP is developing five shallow-bay buildings totaling 358,000 square feet. A retail element is expected to eventually be part of the project as well. Tribek has several retail outparcels at the site.

The Charlotte Business Journal reports the two companies paid a combined $12 million for the land.

Landmark Builders is leading construction efforts. McMillan Pazdan Smith is the architect for the project. Oak Engineering is the civil engineer.

JLL’s Brad Cherry, Matthew Greer and Jay Hill are leading leasing efforts for Tribek’s building. The leasing of GGP’s buildings is being led by CBRE’s Alek Salfia, Bryan Crutcher and Anne Johnson.

Charlotte citizens are huge car racing enthusiasts. The Charlotte Motor Speedway is home to one of NASCAR’s premier events, and a team affiliated with NASCAR wants to capitalize on the sport’s popularity. The Speedway and NASCAR team owner Rick Hendrick has formed a joint venture to build a road course, events center and car collectors’ garage on 100 acres of speedway-owned property in Concord.

The Ten Tenths Motor Club will include a 1.7-mile road course circuit, a clubhouse, and a 20,000-square-foot events and hospitality center with a capacity for up to 1,500 people. A final phase, not yet started, will include a members’ garage for car storage and servicing. A cigar lounge, bourbon bar and putting course are also planned for the members’ garage. Members can also build individual villas for their cars.

The road course for high-end sports cars and the clubhouse will open in April.

Lowes Foods is putting the finishing touches on a 50,000-square-foot store in Concord. It will be part of Christenbury Village, a 116,000-square-foot retail center at 2415 Herrons Nest Place NW. MPV Properties and Mission Properties are developing the site.

The Concord store is expected to provide a full-service supermarket experience, including Lowes Foods Originals, which allows shoppers to buy made-to-order meals that can be enjoyed in-store or taken home.

Founded in 1954, Lowes Foods has 85 stores in the Carolinas and Georgia, including locations in Huntersville, Harrisburg and Mooresville. It recently reopened its Mt. Airy store following a renovation. Three other stores are under development in Kannapolis, Waxhaw and Indian Land.

Plans at Christenbury Village call for two mixed-used buildings, with 150 apartment units as well as 26,000 square feet of commercial space. An additional 24,000 square feet of medical office and retail buildings are planned along Christenbury Parkway.

CBRE arranged the sale of California Villas, a 35-unit multifamily community in Concord. A private buyer purchased from a local private investor for $9.15 million. CBRE’s Keith Manson, Zachary Greenwood and Mac Watson represented the seller.

“Multifamily properties of this size rarely become available in the I-680/CA-24 corridor,“ said Manson. “For the past two years, only seven multifamily communities built before 2000, with 30-100 units, have traded in the I-680/CA-24 corridor and we’ve been fortunate to have sold four of those.”

He added, “The property’s recent upgrades, proximity to major highways and retail amenities were a huge value-add as more buyers seek stable opportunities in today’s economic environment.”

Located at 1621 Detroit Ave. in Concord, California Villas includes 23 one-bedroom units and 12 two-bedroom units, all with air conditioning and private balconies or patios. The property was built in 1966, and nearly 70% of the units received significant interior upgrades under the seller’s ownership.