Denver, CO (December 20, 2018) – Ascentris, a Denver-based real estate private equity firm, on behalf of one of its public retirement system clients, announced today the purchase of Waverly Shopping Center, a 166,000 square-foot, Whole Foods-anchored retail center located in Charlotte, North Carolina. Ascentris formed a joint venture with Childress Klein, a member of Waverly’s development team and long-time partner of Ascentris, to acquire the center.

A separate joint venture between Ascentris and Childress Klein is developing Apex SouthPark, a 345-unit multifamily and retail project in the SouthPark submarket of Charlotte.

Waverly Shopping Center, developed by Crosland Southeast, Childress Klein and the B. Frank Matthews II family, opened in 2017 and is currently 94% leased to 40 tenants including Whole Foods, Ulta Beauty, Wells Fargo, and Chipotle. The property’s tenant base is comprised of a carefully curated mix of sit-down and fast-casual restaurants, soft goods stores, and service-oriented retailers. The property features light contemporary architecture, community plaza space, and a highly-walkable and connected building layout.

Located at the center of a rapidly growing and highly affluent submarket, the property attracts a large volume of shoppers with above-average buying power. The shopping center is part of  the  90 acre Waverly mixed-use, master planned development that includes two Class A office buildings, two medical office buildings, a myriad of for-sale and for-rent residential properties, and a 141-key Hilton Garden Inn which opened in April 2018. The legacy landowner, the B. Frank Matthews II family, will continue to own the retail outparcels along the Providence Road frontage at Waverly. Ascentris’ business plan entails leasing the three remaining vacant suites, developing a currently-vacant outparcel, and thereafter owning the property long term.

“We are thrilled to once again work with Childress Klein on such an exceptional project.” said Ascentris Partner and Managing Director Tricia Noble, who led this acquisition for Ascentris. “The durability of the property and its location in a growing submarket is the perfect fit for our client.” added Noble.

“Waverly is a special asset. We are excited to have another opportunity to work with Ascentris and to manage this property as it matures.” said Childress Klein Partner David Haggart.  

The sale was brokered by Berkeley Capital Advisors. 

Denver, CO (May 18, 2018) – Ascentris and Childress Klein announced today the joint venture’s acquisition of a 5.54-acre parcel at the corner of Morrison Boulevard and Sharon Road in Charlotte’s SouthPark submarket, directly across from the main entrance to the Simon owned SouthPark Mall. Together, the joint venture will develop Apex SouthPark which will consist of 345 apartment units and 88,000 square feet of ground floor retail that will be located in two 12-story towers. Sharon United Methodist Church, the land seller, will develop a new worship center on site under its rebranded name, SouthPark Church. The property will also feature a 175-room hotel with a rooftop restaurant and bar. A shared six-level parking structure will serve the entire property. Demolition of the existing church and construction of the project is expected to commence immediately.

Rule Joy Trammel + Rubio is the architect and JE Dunn Construction will serve as the general contractor. Bank of America will provide construction financing.

“Ascentris is thrilled to be partnering with Childress Klein again, this time on the development of Apex SouthPark. Childress Klein and RJTR have designed an iconic project that will be unlike anything else in SouthPark and will set the stage for a new generation of living in Charlotte,” said Ascentris Managing Director Tricia Noble.

The finishes and common area amenities will raise the standard for apartment living in SouthPark. One-, two-, and three-bedroom units will feature floor to ceiling windows, high-end stainless-steel appliances, under-cabinet lighting, quartz countertops, and backlit mirrors. The two towers will share an amenity deck with a swimming pool, cabanas, fire pits, and grills, and a tenant lounge and fitness center with yoga and spin studios. On-site 24-hour concierge service will be available to tenants.

The 88,000 square feet of ground floor retail is designed to accommodate a variety of tenants, including restaurants and bars with outdoor seating, which will create an energetic environment for the property. Childress Klein’s retail division is leasing the retail portion of the property.

“Apex SouthPark will deliver an exciting urban experience that we believe will address the increasingly sophisticated demands of the SouthPark market. We are excited to have the opportunity to partner with Ascentris and SouthPark Church on this innovative project”, said David Haggart, Retail Division Partner at Childress Klein.

Apex SouthPark is a property many years in the making. Sharon United Methodist solicited master development proposals for the site in 2015, ultimately selecting Childress Klein. The property was rezoned to allow for the development of the property in 2016. With construction commencing in the coming weeks, substantial completion of the first apartment tower is scheduled to occur in Spring 2020, with final completion of the project slated for Spring of 2021.  

CHARLOTTE, N.C. – Childress Klein, is pleased to announce three new tenants to its Promenade on Providence Shopping Center in south Charlotte. They include Queen City Craft & Gourmet, Charlotte Sports Collectibles and A Shade Above. The new tenants join more than 30 other retail shops and restaurants at the property.

Queen City Craft & Gourmet, an independently owned restaurant featuring sandwiches, burgers, small plates, cheese and charcuterie, has leased 2,718 square feet next to Aroojis Wine Room. QCCG will offer twenty-one craft beers on tap and nearly forty wines by the glass. Opening this summer QCCG will be a destination for travelers to the queen city as well as a neighborhood hangout for local residents. The Promenade location is scheduled to open Fall 2018.

Charlotte Sports Collectibles has leased 912 square feet beside Ann Taylor Loft and is scheduled to open in June. Charlotte Sports Collectibles is the premier location to find, and visit, the memories and memorabilia of times past. Founded and owned by Ken Schmidt, an avid collector and connoisseur of sports and collectible memorabilia, Charlotte Sports Collectibles focuses on pairing the right buyer with the right treasure. Charlotte Sports Collectibles has an extensive selection of unique inventory that’s consistently in rotation between buyers and sellers.

A Shade Above, Charlotte area’s largest family owned and operated window coverings company, offers top of the line products and unsurpassed service. A Shade Above is proud to feature products from both Hunter Douglas and Artisan Shutter. Both companies design and custom assemble their products in the USA. Hunter Douglas uses state of the art facilities across the country, and Artisan Shutter products are manufactured locally in the Charlotte area. The store has leased 1,228 square feet next door to SOL Cleaners and plans to open its doors to the Promenade location by June.

“These tenants add to the diverse mix of national, regional and local retailers at Promenade on Providence and bring us another step closer to our vision for the property,” said Susan Clements, Leasing Agent at Childress Klein.

Promenade on Providence is a lifestyle-oriented shopping complex located at the intersection of major Charlotte arteries, Providence Road and I-485. The center features popular tenants like Ann Taylor Loft, Beauty Brands, Hallmark, Jos A. Bank, On the Border, Pier 1, Stein Mart, The Fresh Market, Sun & Ski Sports and Total Wine & More. Susan Clements represented Childress Klein and Chris Kutlick with The Widewaters Group represented Queen City.

Charlotte, N.C. – Childress Klein, one of the Southeast’s preeminent real estate developers, will start construction in March on The Nexus, a six-story, creative office building within the Waverly community in south Charlotte. The Nexus is a joint venture of Childress Klein, Crosland Southeast and the B. Frank Matthews II Family, the same joint venture that is the master developer of Waverly including the Waverly retail, MOB and office offerings.

Totaling +/-154,000 square feet, The Nexus will be the second creative office building at Waverly, a mixed-use development just south of I-485 at the intersection of Providence and Ardrey Kell roads, a location at the center of one of the most impressive growth corridors in the Charlotte region. The Remi Group, an equipment maintenance management provider currently based in Ballantyne, has leased +/-31,000 square feet at The Nexus for its corporate headquarters and will be its first tenant.

“We believe that the bottom line is enhanced by personal well-being and that people thrive in active, vibrant environments. Waverly is just that environment and will help us recruit, develop and retain the very best talent,” said Dan Schuster, founder and CEO of The Remi Group.

“The fact that Waverly’s 40+ restaurants and shops are walkable from the front door of The Nexus is an incredible differentiator. Waverly will certainly enhance the work day experience of our employees.

We’re thrilled to start our company’s next chapter at The Nexus,” said Brent Howison, President of The Remi Group.

The first creative office building at Waverly, The Hub, delivered in August. Since then NN Inc. has announced it will relocate its global corporate headquarters to The Hub, a win for both the State of North Carolina and the Charlotte region. Childress Klein has also signed leases with corporate tenants including Esri, Horizon Investments, Axene and Tokai Carbon GE LLC.

“The Nexus is unique in suburban Charlotte. It offers modern workspace at the center of an active, mixed-use environment that today’s employers seek, but are unable to find outside of the urban core,” said Paul DeVine, partner at Childress Klein.

“With millennials now moving to the suburbs in significant numbers, we believe we’ve created that nexus of the suburban location and the urban experience.

“We look forward to welcoming The Remi Group to Waverly and introducing The Nexus to the market.”

The Nexus will feature, exposed ceilings, interiors built for collaboration, a covered parking deck, bike storage, outdoor Wi-Fi-enabled meeting space and a connection to Waverly’s master-planned park, The Yard. Childress Klein plans to seek LEED certification for the building.

Ben Speir with Cherry & Associates represented The Remi Group. Travis Hart and Jenny Fowler represented Childress Klein. Travis Hart and Jenny Fowler with Childress Klein will handle leasing at The Nexus. Wells Fargo will provide financing for The Nexus. Shelco is the general contractor and Rule Joy Trammell Rubio (RJTR) is the architect.

Charlotte, N.C. – Vision Properties and Childress Klein announced today that One Wells Fargo Center has been awarded LEED Gold certification for Operations and Maintenance (LEED O+M) by the U.S. Green Building Council. The LEED (Leadership in Energy and Environmental Design) rating system is the foremost measure of environmental sustainability, providing independent verification of operations and maintenance practices that result in healthy, resource-efficient, high-performing buildings.

“We are extremely proud to have attained LEED Gold certification. It is a tangible sign of our commitment to ensuring One Wells Fargo Center remains the premier office building in Charlotte,” stated Anthony Arena, Partner of Vision Properties which serves as asset manager for One Wells Fargo Center. “This is one more step we’ve taken on behalf of ownership to provide features and services that enhance the productivity and well-being of our tenants while reducing the environmental impact of our operations.”

One Wells Fargo Center achieved LEED Gold certification by implementing a comprehensive set of strategies designed to improve building performance, reduce waste, and increase occupant comfort. This was accomplished through property upgrades such as new low-flow restroom fixtures, high-efficiency lighting in public spaces and dimmable lighting with occupancy sensors in the parking deck, along with new management practices including expanded recycling programs and use of more environmentally-friendly products. As a result, energy and water use has been reduced by over 15%.

“Childress Klein is honored to support building ownership’s vision for the highest standards of property management and tenant service,” stated David Pitser, Office Partner and Director of Property Management at Childress Klein. 

“Making the investments needed for LEED Gold Certification demonstrates a genuine commitment to the best interests of our occupants, community and environment."

Charlotte, N.C. — Two popular clothing boutiques and two restaurants will join the retail mix at the 90-acre Waverly community at the intersection of Providence and Ardrey Kell roads in south Charlotte.

Fab’rik, Scout and Molly’s Boutique, Babalu Tapas & Tacos and DeSano Pizza Bakery have signed leases at Waverly, which is being developed by Crosland Southeast, Childress Klein and the B. Frank Matthews II family.

“The addition of these well-known fashion boutiques to our retail roster helps round out our tenant mix and ensures that Waverly is a vibrant shopping and dining destination in south Charlotte,” said Chris Thomas, partner at Childress Klein.

Fab’rik (1,469 square feet) is a women’s clothing boutique offering on-trend style through effortless pieces and accessible prices. With more than 40 locations nationwide, Fab’rik offers private-label clothes and select brands such as Blank NYC and BB Dakota. Fab’rik prides itself on a unique, personalized shopping experience that comes without attitude or sticker shock. The Waverly location is expected to open this fall.

Scout and Molly’s Boutique (1,436 square feet): A popular destination for unique women’s clothing, jewelry and accessories from select designers from around the world, Scout and Molly’s opened its first store in Raleigh in 2002 and has since expanded across the country. Scout and Molly’s location at Waverly is expected to open this fall.

Babalu Tapas & Tacos (5,018 square feet) serves delicious craft cocktails and authentic gourmet Spanish-style tapas and tacos with a Southern twist. The restaurant’s Waverly location will be its second in Charlotte, following the opening of its Dilworth location in 2016.

DeSano Pizza Bakery (6,065 square feet) plans to open its second Charlotte location at Waverly during the fourth quarter of this year. With locations in Charleston, S.C., Nashville, Tenn., and Los Angeles, DeSano specializes in Neopolitan pizzas made with only the freshest ingredients. The company recently opened its first local store on Third Street in midtown Charlotte.

Gwen Glaeser with Foundry Commercial represented the landlord on the lease transactions. Rhett Batanides with Newmark Knight Frank represented Fab’rik, David Tschirhart with Legacy Commercial Real Estate represented Scout and Molly’s, Melissa McDonald with The Providence Group represented Babalu, and Tommy Trimble with Foundry Commercial represented DeSano.

Development Update
Whole Foods Market, Waverly’s retail anchor, celebrated its grand opening in May, and Chipotle, District 5 Interiors and Urbane South are all scheduled to open this week. Waverly’s medical office anchor, Novant Health, opened last fall, a six-story office building called The Hub will be ready to welcome tenants next month, and a 141-room Hilton Garden Inn is expected to open by the end of this year. A public plaza with outdoor dining space called The Terrace and the community’s parking garage are also expected to be open next month.

With more than 40 retail shops and restaurants plus a variety of homes and apartments, Waverly will combine a light, contemporary architecture with traditional placemaking in south Charlotte. Retailers now open at Waverly include Chick-fil-A, Chuy’s, CycleBar, CVS, Firehouse Subs, Little Nest Portraits, Mattress Firm, McDonald’s, Panera Bread, PetPeople, The Porter’s House, Starbucks, Taziki’s, Ted’s Montana Grill, Truliant, ULTA Beauty and Wells Fargo.

Charlotte, N.C. — A planned Hilton Garden Inn hotel at the 90-acre Waverly development in south Charlotte has reached its halfway point of construction.

The 141-room hotel celebrated its topping out earlier this month. The Hilton Garden Inn will be located across from a public plaza called The Terrace that will be a center of activity at Waverly, which is being developed by Crosland Southeast, Childress Klein and the Frank B. Matthews II family.

Developed by Naman Hotels, the Hilton Garden Inn will feature a rooftop pool overlooking The Terrace, 3,000 square feet of meeting space and upscale yet affordable rooms for travelers. It is expected to open by the end of this year and will be Naman Hotels’ third hotel in the greater Charlotte market.

“The Hilton Garden Inn at Waverly will bring a much-needed hotel option to this area and will be surrounded by an impressive mix of walkable restaurants and retailers that our guests will enjoy,” said Nick Patel, chief financial officer at Naman Hotels.

The Hilton Garden Inn will join The Hub, a six-story office building expected to deliver in May, as well as a variety of residential and retail offerings at Waverly, which will combine a light, contemporary architecture with traditional placemaking in south Charlotte.

“As the first hotel developed at this interchange, the Hilton Garden Inn will be a valuable addition to the community and an important amenity for our residents and future office tenants at Waverly,” said Peter B. Pappas, managing partner of Crosland Southeast.

Forty retail shops and restaurants have signed at Waverly. A 40,000-square-foot Whole Foods, Waverly’s retail anchor, will open late spring, and 22,000-square-foot medical office anchor Novant Health opened last fall. Several retailers have recently opened at Waverly, including Chick-fil-A, Chuy’s, CVS, Firehouse Subs, Mattress Firm, Panera Bread, The Porter’s House and ULTA Beauty.

Trinity Partners is pleased to announce the sale of Arrowridge Business Park in Charlotte, North Carolina, to a partnership formed by Childress Klein and WHI Real Estate Partners. Dunn Mileham and David Morris of Trinity Partners handled the sale on behalf of the seller, Medalist Properties, located in Richmond, Virginia.    

“We appreciate the opportunity to partner with WHI Real Estate Partners on another project,” said Landon Wyatt, Industrial Partner at Childress Klein.

“Arrowridge Business Park is in an ideal location with the ability to provide a variety of solutions for companies of any size.”

Located in the Stateline industrial submarket, the property consists of four multi-tenant office/warehouse buildings totaling 194,560 square feet and is situated off of Arrowood Road at the intersection of Interstates I-77 and I-485. At the time of sale, the property was 100 percent occupied by more than 20 tenants. Childress Klein currently owns four office/warehouse buildings also located in the park.

“Investor appetite for the asset was very strong, given the outstanding market fundamentals, and strong performance at the property,” said Dunn Mileham, Director of Investment Sales at Trinity Partners.

“The highly accessible location combined with proximity to some of Charlotte’s more dense and affluent residential areas make the property a preferred location for service businesses.”

Trinity Partners’ successful track record at Arrowridge began over a decade ago and was originally led by Bill Wood, Director of Industrial Property Services as well as Heather Thompson, Partner and Director of Trinity’s Property Management team. Subsequent to Medalist’s purchase, William Maxwell, Industrial Property Broker, has overseen leasing at Arrowridge and has been instrumental in achieving 100 percent occupancy at the park, which was the primary impetus for the sale.

Greer, S.C. – Childress Klein, one of the Southeast’s largest commercial real estate firms, and Cullum Interests, a Greer, South Carolina, industrial developer, have begun construction in Velocity Park in Greer, South Carolina. Scheduled for completion in the first quarter of 2018, this 297,600-square-foot building will be the first of three on this property located on Victor Hill Road in Greer, between Greenville and Spartanburg.

The building, being constructed by Myers and Chapman, features concrete tilt-wall construction, 32’ clear height, ESFR sprinkler system, 52’x 50’ deep column spacing with 60’ loading bay and ample trailer parking behind the building. It is located less than a mile and a half from the I-85 Interchange with SC 101. The project is less than a mile from the BMW North American Manufacturing facility and only 2.75 miles from the rapidly growing GSP inland port.

“We are excited to partner with Cullum Interests, on this project. Velocity Park is in an ideal location with the ability to provide a variety of solutions for logistics or manufacturing companies of many sizes,” said Chris Daly, Industrial Partner at Childress Klein.

Allen Cullum, who has owned this land since 2008, adds, ”I am very pleased to be working with my friends with Childress Klein to develop another Class A industrial facility in Velocity Park in the wonderful community of Greer.”

Charlotte, N.C. — Charlotte-based commercial developers Crosland Southeast and Childress Klein announced that Mainstream Boutique, Source1Phones and Starbucks have signed leases at the 90-acre Waverly development near the intersection of Providence and Ardrey Kell roads in South Charlotte.

Mainstream Boutique, which has leased 1,392 square feet next door to District 5 Interiors, is a women’s retailer that sells unique clothing, accessories and giftware to women of all ages and sizes. Founded in 1991 by Marie DeNicola, the company has franchise locations in 22 states, including stores in Mooresville and Winston-Salem. Owned by Dawn Talley, the Waverly store will be Mainstream’s first in Charlotte and is expected to open this spring.

Source1Phones, a boutique mobile phone sales and repair company, has leased 944 square feet at Waverly next door to Carolina Ale House. Based in Charlotte, Source1Phones provides a wide variety of repair services for phones, tablets, MacBooks and other products. With its first location in Fort Mill, S.C., Source1Phones has signed leases for three additional locations in the Charlotte market and plans to open its Waverly store this summer.

Starbucks will build a freestanding, 2,300-square-foot store at the southeastern corner of Providence Road and Golf Links Drive, a newly signalized intersection. The company expects to start construction in early 2017. The premier roaster and retailer of specialty coffee in the world, Starbucks has more than 25,000 stores around the globe.

“These signings add to the diverse mix of national, regional and local retailers at Waverly and bring us another step closer to our vision for a walkable, mixed-use destination in south Charlotte,” said Chris Thomas, partner at Childress Klein.

The new tenants join more than 30 other retail shops and restaurants that have signed at Waverly, which will combine a light, contemporary architecture with traditional placemaking in south Charlotte. A 40,000-square-foot Whole Foods, Waverly’s retail anchor, will open in early 2017, and 22,000-square-foot medical office anchor Novant Health opened last fall. Retailers including Chuy’s and ULTA Beauty have also recently opened their doors at Waverly. Mattress Firm plans to open this month, and Chik-fil-A and Panera Bread plan to open in February.

Gwen Glaeser with Foundry Commercial represented the landlord on the lease transactions, and Nick Lukens with Moseley Real Estate represented Starbucks.

For a complete list of tenants, visit www.waverlyclt.com/interactive-siteplan.