News

Tramway Partners LLC, a collaboration of Lee-Moore Capital Company and Rhetson Companies, Inc. based out of West End, NC, completed Phase I of this project. The development is located on the corner of Tramway Road and Jefferson Davis Highway in Tramway, NC.

The first phase consists of a 13,690 sq. ft. multi-tenant retail shopping center. The center is anchored by Dollar General, Dunkin’ and Jersey Mike’s. Tramway Partners, LLC continues work on the second phase and looks forward to delivering more quality tenants to serve the community.

Elite Storage Greensboro, a project by Lee-Moore Capital Company and Central Moving & Storage Inc., opened for business July 2020. The building contains 73,000 sq. ft. of self-storage with a variety of units, including climate and non-climate controlled.

The facility consists of both an onsite manager and a stand-alone kiosk, allowing for 24/7 rental accommodations. Located just off of Old U.S. 421, Elite Storage offers clean, affordable and secure units in Greensboro, NC.

Capstone Apartment Partners announced a $62.5 million sale of Waterside and Watercourse Apartments on behalf of Eco Group, a collaboration of Lee-Moore Capital Company and Montgomery Development. Partnering with 10 Federal of Raleigh to bring the apartments to market, Eco Group received close to $141,000 per door with a sub 5% cap rate.

The newly constructed Waterside was completed in 2019 and 92.5% occupied at time of closing. Watercourse, constructed in 2016, was 98% occupied at time of closing. The two Class A garden-style apartment communities are located in Graham, NC, total 444 units and include robust amenity packages.

Audentes Therapeutics, an Astellas company based in San Francisco, California, announced opening a new facility in Lee County. The life-sciences company purchased a shell building in Central Carolina Enterprise Park, promising to create 209 jobs and invest $109.4M in Sanford over five years. Audentes is focused on developing and commercializing innovative therapies, including a gene therapy portfolio targeting serious rare neuromuscular diseases. Governor Roy Cooper said, “Lee County is a perfect fit for Audentes as they seek to become a global leader in genetic medicines.”