Roughly five acres of land slated for townhomes in midtown Wilmington recently changed hands for nearly $11 million.

Pulte Home Company LLC purchased the 5.2-acre site inside The Pointe at Barclay for $10.8 million, according to a deed recorded March 20. Homebuilder Pulte Homes plans to build a 72-unit townhome community, called the Barclay Townes at The Pointe, on the property located near the intersection of Independence and Gallery Park boulevards.

Eric Korsten, president of the Pulte Group’s East Carolina Division, said the land acquisition is a milestone for the project. The firm got involved in the townhome plans in early 2025 after bidding on the developer-driven deal, Korsten said.

“We’re generally looking for A-located deals that really speak to the consumer, give them a great lifestyle and sense of community,” he said. “I mean this being within The Pointe, with the movie theater, the restaurants, in a strong location within greater Wilmington, it’s just a fantastic opportunity.”

Pulte purchased the site from CC Fund II The Pointe LLC, an entity of Collett Capital, a Charlotte-based real estate private equity firm. Collett developed The Pointe with local real estate firm Cameron Management.

Property records show CC Fund II The Pointe LLC purchased the site for $3.75 million in June 2025 from Barclay Commons Retail LLC.

Pulte has submitted permits for a model building on the property, which, Korsten said, is expected to go vertical this month. The project’s first buildings are expected to open for sale in the third or fourth quarter of the year, he added.

Construction of the project’s 16 buildings (a site layout is shown below at right) will be phased based on market demand, Korsten said, with full build-out lasting between two and three years. The townhomes will have approximately 1,900 square feet and could have two or three bedrooms, depending on the layout, along with a garage.

Korsten said he expects the Barclay Townes could appeal to young professionals and those looking to enter the homebuying market. Although final pricing is yet to be determined, Korsten expects all-in prices to begin in the high-$400s.

This is Pulte’s second townhome project in the Wilmington market, Korsten said. The homebuilder recently completed the Lakeside Townes at Riverlights, a 33-unit townhome community located in the Riverlights area.

“Our belief is as long as it’s in a really great A-located spot, townhomes really work,” Korsten said. “You’re not going to have a lot of space to buy large tracts of land, so we think these smaller townhome infill deals could really resonate with the market, just letting people, for a lower price point (and) live in a really, really great location versus having to sprawl out.”

Source: Wilmington Business Journal

The Shops at Winnifred’s expanding tenant mix includes two new-to-market concepts.

Yay Yogurt and Yuca and BeautyWalker Nail Studio are now open at 1425 Winnifred St.

Yay Yogurt is operating out of a 535-square-foot space. It serves fresh frozen yogurt, with flavors such as blackberry, passion fruit, strawberry and naranjilla — a citrus-based offering. There’s also an Ecuadorian gluten-free cheese bread, known as yuca bread, that is served on its own, topped with nutella, and as a waffle.The restaurant also serves empanadas filled with chicken, beef or spinach and feta cheese.

Jose Tapia is the owner. Yay is open Tuesday through Sunday at 1425 Winnifred St., Suite 116.

BeautyWalker is Charlotte’s first Russian manicure studio. Owner Svetlana Dunaeva offers dry manicures and trendy nail art. She’s snapped up Suite 115 for that 878-square-foot studio. Appointments can be made online.

They’ll be joined in the near future by Bright Eyed Coffee, an offering by Bottle Cap Group. The coffee shop will serve La Colombe Coffee from its space on Winona St.

Bottle Cap is also behind Ink N Ivy in uptown and The Rose Honky Tonk in South End.

Thompson Brock with Thrift Commercial Real Estate Services represented the landlord on the lease transactions.

The Shops at Winnifred has 12,500 square feet of retail space, with tenants such as Boba Baba, Jack and Georgia, and The Brown Sugar Collab. It’s also home to Five 13 Studio, Outlaw Hair Co. and Kika Stretch Studios.

Just three spaces are available for lease. Each is 535 square feet.

Charlotte real estate firm Collett Capital acquired The Winnifred and Shops at The Winnifred for $30.2 million in January 2021. In addition to the retail space, there are 91 studio, one- and two-bedroom apartments.

Source: Charlotte Business Journal

The Shoedio and Bulldog Taproom/Social are inching closer to their openings in South End. Both will be at The Winston, at 222 West Blvd.

The Shoedio’s first brick-and-mortar store opens on Aug. 19. The 1,100-square-foot space is focused on custom sneakers, with customizable options down to the laces available. It also will offer DIY workshops.

Bulldog Taproom/Social is in the final stages of building out its 4,000-square-foot taproom and patio. It is moving three blocks from its current space on Winnifred Street to make way for an apartment complex there.

Expect a wide lineup of craft beers — with some of Bulldog’s own offerings as it debuts a brewing system. Owner Rob Johnson has said the space will provide the same look, feel, sounds and even smells as Bulldog’s previous South End location. There will be two bars and a mezzanine, with the familiar half-barrel tables, plenty of TVs, dartboards and plans for music.

It is targeting a September opening. Foard Construction is the general contractor.

Bulldog recently announced it was expanding with a NoDa location. It purchased the assets and lease for Room & Board, a neighborhood restaurant, bar and entertainment venue at 3228 N. Davidson St.

Shoedio and Bulldog Taproom/Social join Beard Papa’s, Urban Sweets and The Coterie Concept at The Winston, on the corner of West Boulevard and South Tryon Street.

Collett Capital purchased the six-story property that includes 132 apartments for $48.5 million in October 2022. It was rebranded as The Winston, from Centro Square.

Source: Charlotte Business Journal

A Charlotte developer recently began construction on Revel Greensboro, a 360-unit apartment community just off the Greensboro Urban Loop and close to Piedmont Triad International Airport.

Collett Capital is the developer of Revel Greensboro, planned at the intersection of Leabourne Road and N.C. 68 in a corridor that includes a new 210,000 square foot industrial building for ProKidney, a Sheetz convenience store and The Retreat at 68 apartments. Cone Health paid $5.1 million for 6.38 acres last year next to Retreat.

Samet Corp. built three 200,000 SF or so industrial specs on the corridor, which includes Cameron Campus of Guilford Technical Community College.

“There is a lot of great energy in the area,” DuBose Williamson, a principal with Collett, told Triad Business Journal.

Revel will have nine, four-story, 40-unit buildings with elevators, varying from the three-story apartment buildings — that do not require elevators — typically built throughout the Triad.

Williamson pointed out that four-story buildings at Comet Greensboro, an apartment community developed by Comet Builders’ Seth Coker and Nathan Isner off Guilford College Road near Interstate 40, have proven popular.

“It’s something we’ve done in Raleigh and Charlotte (markets),” Williamson said. “Customers seem to appreciate the elevators. Walking up a few flights of stairs with groceries in August is not a fun experience.”

Williamson said the sale of the 20-acre building site behind Sheetz closed about 10 days ago.

Williamson said he expects ground breaking in the next few days, with an initial phase of the apartments expected to be delivered in the first quarter of 2025 with the entire community completed around summer 2026. He did not reveal the estimated cost of the development.

Revel Greensboro is planned with amenities including pickleball courts, grilling stations, a zero-entry pool, walking/exercising trails, dog parks, and spaces for outdoor lawn games. The clubhouse features a state-of-the-art fitness center and a lounge with workstations and conference rooms to accommodate remote working residents.

Summit Contracting Group of Jacksonville, Florida, is the general contractor. The apartments are the first in the Triad by Collett.

Tyler Covington and Joe Hollmeyer are other principals of Collett Capital. The apartments will be adjacent to an industrial spec building developed by sister company Collett & Associates and Samet Corp.

Williamson said Collett is interested in more multifamily opportunities in the Triad.

“We’re trying,” he said. “We’d like to get more of them.”

Collett Capital is a real estate private equity firm with more than $670 million in assets under management that is focused on acquiring and developing well-located, income-producing real estate assets with durable cash flows and upside potential. 

Since 2020, Collett Capital has acquired or started construction on nine multifamily communities totaling more than 1,400 units. Through its real estate funds, the firm acts as a sponsor, operating partner, and co-investor alongside its institutional and private capital partners.

Collett Capital’s website shows it owns a variety of multifamily housing, retail and industrial developments in North Carolina and eight other states, most on the Atlantic coast.

Source: Triad Business Journal

Charlotte real estate firm Collett Capital has rebranded a South End apartment community following its acquisition last fall.

Centro Square, a six-story, 132-unit property at the corner of West Boulevard and South Tryon Street, is now called The Winston.

Collett purchased the property at 222 West Blvd. from Ascent Real Estate Capital in October for $48.5 million. The building’s more than 8,300 square feet of ground-floor retail space is fully leased. Tenants include Beard Papa’s, Urban Sweets, The Coterie Concept and Mindful Market. Bulldog Beer and Wine anchors the space and is slated to open there this year.

The project, which delivered in early 2022, is part of The Square at South End, a larger mixed-use development led by Beacon Partners.

DuBose Williamson, principal at Collett, said the rebrand was done with the property’s design and location in mind. Williamson said The Winston’s public and private amenities, paired with its view of uptown, is what makes it stand out from other multifamily properties in the neighborhood.

“The Winston is a step up from a lot of South End’s apartment offerings, and we wanted the name, visual identity and branding to reflect that,” he said.

The Winston is “the big sister” to another Collett property, The Winnifred and Shops at The Winnifred. Collett acquired that property at 1425 Winnifred St. in January 2021 for $30.2 million. Known then as Centro Railyard, it underwent a rebrand later that year.

Sarah Prescott, Collett’s asset manager, and The Plaid Penguin led the rebranding efforts for both communities.

Source: Charlotte Business Journal

Centro Square, a new apartment community in Charlotte’s Wilmore neighborhood, traded this week for $48.5 million.

Local commercial real estate firm Collett Capital purchased the property at 222 West Blvd. from Charlotte-based Ascent Real Estate Capital. Newmark arranged the sale, which closed on Oct. 24, according to Jason Kon, the firm’s senior managing director.

Ascent, alongside Centro Cityworks, paid $4 million for a portion of the land, according to Mecklenburg County real estate records. The developers broke ground on the multifamily project in September 2020, and the project delivered earlier this year. The apartment community has 132 units and is about 90% leased. It totals 64,304 square feet, which includes 8,313 square feet of ground-floor retail that will be anchored by Bulldog Beer and Wine.

Centro Square is part of a larger mixed-use project, The Square at South End, which was developed by Beacon Partners. In June, USAA bought the 156,401-square-foot building from Beacon for nearly $97 million.

Kon said he began taking offers on the property in mid-summer and eventually determined Collett to be the right fit. Collett acquired a sister property in South End, Centro Railyard, in February 2021 for $30.2 million.

“They’re pretty enamored with the location and runway that South End still has with a lot of office scheduled to deliver over the next 24 to 48 months,” he said. “(Collett) liked the efficiencies of Centro Square, which is the same kind of micro concept as (Centro Railyard).”

Kon said the sale price works out to about $750 per square foot. That per-square-foot price encompasses the multifamily and retail aspects of the property.

 

Source: Charlotte Business Journal