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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 5, 2011 
 
 
METROPOLITAN ADDS TO RESTAURANT MIX

 
Midtown’s Metropolitan mixed-use venue added four new restaurants over the holidays (belated holiday gift for them: lots and lots of forks), bringing total occupancy to about 92%, says Colonial Properties’ Lauren Wilson, who reps the property owners.
 
Colonial Properties Lauren Wilson at a recent gala with Hickory Tavern partner Brad Smith and New South Properties’ Scott Mileham,
LaPaz, Hickory Tavern, Pizza Fusion, and Cherry Berry frozen yogurt make up the new dining options. (That’s Lauren at a recent gala with Hickory Tavern partner Brad Smith and New South Properties’ Scott Mileham, who reps the American-style eatery.)  Succession Capital Partners’ Jimmy Flowers repped LaPaz; Core Properties’ Lance Lancaster repped Pizza Fusion; and Adams Commercial Real Estate’s Donna Adams repped Cherry Berry.
 
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INFINISOURCE PICKS CHARLOTTE
 
Charlotte Chamber President Bob Morgan
Early this year, Infinisource Holdings will move its corporate HQ from Coldwater, Mich. and start a new division in Charlotte, bringing with it about 160 jobs. (So when they get here make sure to bring them a casserole to welcome them to the neighborhood.) The company now has offices in Ohio, Florida, and a regional HQ in Michigan. Infinisource Holdings is a benefits administration company. The average employee salary will be more than $80k. It plans to invest $500k in its new Charlotte facility over the next five years, the Charlotte Chamber’s Bob Morgan tells us. The company is now in lease negotiations for an (undisclosed) Charlotte office site. JLL's Chris Schaaf and Jim Thorp are repping Infinisource.

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LOWE’S BUYS ATG STORES
 
Lowe's Home Improvement parent buys ATG Stores
Mooresville-based home improvement giant Lowe’s Cos acquired ATG Stores late last week, an online retailer of home improvement and lifestyle products based in Kirkland, Wash. The acquisition underscores Lowe’s commitment to providing an “endless aisle of products,” Lowe’s CEO Robert Niblock tells us. Specific terms were not disclosed. The buy will allow Lowe’s and ATG to combine best practices for online marketing and merchandising, Robert adds. ATG will continue to operate as an independent, wholly owned subsidiary of Lowe’s.

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2012 TO BE A LOT LIKE 2011
 
A poll released this week by trade publication ENR Southeast found its readers have little optimism that growth will likely be any better in the New Year than it was in 2011. The findings reflect similar assertions voiced just before the holidays by panelists at the Charlotte Chamber’s 10th Annual Economic Conference, including Wells Fargo’s senior EVP David Carroll. David, in brief remarks before the conference, expanded his predictions to include the global markets. He said he envisions “modest economic growth” of about 2%, which will be suppressed by “no real income growth” in 2012. (At least we can look forward to the new Batman movie though, right?)

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ANSON BUILDING A THING OF PAST
 
Grubb & Ellis' Karen Mankowski
In a sign of the times for NC’s textile industry, a 328k SF former Anson County textile warehouse has been leveled to make way for a landscaping storage lot. The building, believed to be one of the largest of its kind in the state, was constructed with 65-foot ceilings, Grubb & Ellis’ Karen Mankowski tells us. But most of the state’s textile businesses have moved overseas. The building sat idle for more than eight years and was finally demolished for scrap in the fall and the 8-acre site leveled and cleared. Karen and G&E’s David Bailey recently sold the land to Tri-State Garden Centers for about $50k. Tri-State will use the site to store mulch, sapling trees, and other landscaping materials. And so it goes.
 
We assume the tobacco barns will be next. Send your news and information to lee.howard@bisnow.com.
 
 
 
 
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