What CBC Real Estate does

CBC Real Estate is the real estate division of Capitol Broadcasting Company, a fourth-generation family-owned media and real estate firm based in Durham, North Carolina. Founded in 2001, the company focuses on historic preservation, adaptive reuse, and mixed-use development across the Carolinas. Its portfolio exceeds 3 million square feet and includes the 1.2 million sq ft American Tobacco Campus (the flagship, which houses the 550,000 sq ft Bandwidth HQ), the 82-acre Rocky Mount Mills, the 400,000 sq ft The Thread in Rock Hill, SC, MoJud Lofts (173 multifamily units), Aloft hotel (134 keys), the 21-key River and Twine tiny-house hotel, the 76,000 sq ft American Underground coworking hub, and the planned 237-unit Overlook on Main in Holly Springs. Vertically integrated capabilities span acquisitions, development, construction management, leasing, brokerage, asset management, property management, and in-house accounting/finance.

The business model combines ownership economics with fee-based services. Revenue is generated through office, retail, multifamily, and hospitality leasing across owned and joint-ventured assets; development fees on third-party and JV projects (e.g., Market District with Hines and Affinius Capital; The Thread with The Keith Corp and Springsteen Properties); asset and property management fees; and brokerage. Customers span corporate office tenants (corporate HQs like Bandwidth and Dollar Shave Club), residential renters, retail and hospitality operators, startups and SMEs (via American Underground's 275+ companies), and institutional/community partners (e.g., Downtown Durham YMCA). The strategy emphasizes long-duration placemaking and district-level tenant ecosystems rather than speculative single-asset development.

In 2024-2025 the company is executing multiple simultaneous expansions: the Market District joint venture at ATC, the Rock Hill SC expansion, a new submarket entry in Holly Springs, a $46M YMCA institutional partnership, and continued tenant densification (Dollar Shave Club HQ relocation; American Underground return in 2026). The firm is private, family-owned, and privately capitalized through its parent, with no public funding rounds disclosed; financial information is therefore limited.

Name

CBC Real Estate

Legal name

CBC Real Estate Company, Inc.

Website

https://cbcrealestate.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

CBC Real Estate is the real estate arm of Capitol Broadcasting Company, a fourth-generation family-owned firm based in Durham, NC, that develops and operates mixed-use, adaptive-reuse properties across the Carolinas, serving corporate, residential, retail, hospitality, and institutional tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Office Leasing Revenue: Commercial office leasing and brokerage for all office spaces across portfolio properties including American Tobacco Campus, Bandwidth HQ, Rocky Mount Mills, The Thread, and Market District developments.
2. Retail Leasing Revenue: Commercial retail leasing and brokerage for ground-floor retail and restaurant spaces across mixed-use properties.
3. Multifamily Residential Revenue: Residential leasing revenue from apartment communities including Apartments at American Tobacco, MoJud Lofts, Overlook on Main, and loft apartments at Rocky Mount Mills.
4. Hospitality Revenue: Revenue from hospitality properties including Aloft Downtown Durham hotel (134 keys) and River and Twine tiny house hotel (21 keys).
5. Development and Construction Management: Fees from development and construction management services for projects including Downtown Durham YMCA (development partner) and other joint venture developments.
6. Asset Management: Revenue from financial performance management of all assets and investor relations for CBC and joint-venture properties.
7. Property Management: Day-to-day and long-term property operations including maintenance, tenant support, and community engagement.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

CBC Real Estate is a vertically integrated real estate developer, owner, and operator that develops, leases, and manages mixed-use, office, retail, multifamily, hospitality, and coworking properties across North and South Carolina. The firm specializes in historic preservation and adaptive reuse of industrial properties (tobacco mills, textile mills, cotton mills) and has built over three million square feet of projects including the flagship American Tobacco Campus in Durham, Rocky Mount Mills, The Thread in Rock Hill, Bandwidth HQ in Raleigh, MoJud Lofts in Greensboro, Aloft Downtown Durham hotel, River and Twine tiny house hotel, and American Underground coworking. Service lines cover acquisitions and capital markets, development and construction management, leasing and brokerage, investments and asset management, property management, and accounting and finance.

Product overview

CBC Real Estate is a real estate development and property management company (division of Capitol Broadcasting Company) offering a portfolio of mixed-use properties and vertically-integrated services. The core product portfolio includes: American Tobacco Campus (1.2M sf flagship mixed-use campus in Durham), Rocky Mount Mills (82-acre historic mill campus), Bandwidth Headquarters (build-to-suit corporate campus), MoJud Lofts (173-unit multifamily in Greensboro), The Thread (400K sf adaptive reuse in Rock Hill), Aloft Downtown Durham (134-key hotel), River and Twine (21-key tiny house hotel), American Underground (76K sf coworking), Downtown Durham YMCA (65K sf build-to-suit), Overlook on Main (237-unit planned multifamily), and Market District expansion. Services include Acquisitions & Capital Markets, Development & Construction, Leasing & Brokerage, Investments & Asset Management, Property Management, and Accounting & Finance.

Differentiator

Problem solved

Functional benefit

Brands

• American Underground: Startup hub and coworking community for Durham's innovators, creators, and changemakers. Dubbed the 'Startup Hub of the South' by CNBC, home to 275+ companies.
• American Tobacco Campus
• Rocky Mount Mills
• Bandwidth

Products and services

• American Tobacco Campus 1.2 million square foot historic tobacco campus in Durham, NC featuring approximately 1 million square feet of office space, 60,000 sq ft of retail, and 79 residential units, serving as the flagship mixed-use property of CBC Real Estate.
• Rocky Mount Mills 82-acre historic cotton mill campus in Rocky Mount, NC with 300,000 total square feet, including modern offices, loft apartments in the 220,000 sq ft main mill building, Power House event center, Brewmill brewery incubator, mill village, and tiny house hotel.
• Bandwidth Headquarters Campus 40-acre corporate headquarters campus in Raleigh, NC for Bandwidth Inc., featuring a 5-story 450,000 sq ft office building (550,000 sq ft total campus), fitness center with basketball court, on-site commissary, preschool, event pavilion, and 1,800 parking spaces, accommodating up to 2,000 employees.
• MoJud Lofts 173-unit apartment community in Greensboro, NC featuring the historic renovation of the Mock Judson Voehringer Company Hosiery Mill, with units ranging from studios to three-bedrooms and amenities including saltwater pool, dog park, and 24-hour fitness center.
• The Thread 400,000 sq ft historic textile mill and warehouse transformation in Rock Hill, SC's Knowledge Park district, with Phase 1 delivering 170,000 sq ft of Class A creative office and 30,000 sq ft of ground-floor retail, and Phase 2 planned to include loft apartments.
• Aloft Downtown Durham Six-story 134-key limited-service hotel adjacent to Durham Performing Arts Center and Durham Bulls Athletic Park, featuring loft-inspired rooms, pool, 24-hour fitness center, meeting facilities, and WXYZ bar.
• River and Twine 21-key tiny house hotel on the banks of the Tar River at Rocky Mount Mills, billed as the largest tiny house hotel of its kind in the world, plus 3 guest suites in a renovated 1900s mill house.
• American Underground 76,000 sq ft coworking and startup community in Durham, NC, dubbed the 'Startup Hub of the South' by CNBC, home to 275+ companies from pre-seed startups to growth-stage businesses plus independent creatives and freelancers across multiple downtown Durham locations.
• Downtown Durham YMCA Planned 65,000 sq ft YMCA facility at American Tobacco Campus, featuring rooftop terraces, indoor pool, basketball court, indoor track, group fitness studios, and youth and family programming, developed as a partnership with YMCA of the Triangle.
• Overlook on Main Planned 237-unit multifamily community in Holly Springs, NC adjacent to Ting Park, featuring 15,000 sq ft of retail, rooftop views of Ting Stadium, resort-style pool, dog park, and 24-hour fitness center.
• Market District at American Tobacco 1.2 million sq ft mixed-use expansion of American Tobacco Campus, with Phase 1 including 353,000 sq ft of office, 343 residential units, and 104,000 sq ft of retail, developed as a joint venture with Hines and Affinius Capital.
• Apartments at American Tobacco 79 loft-style apartments across two buildings at American Tobacco Campus, featuring exposed brick, large windows, modern appliances, lofted ceilings, private courtyard, pet spa, bike storage, and rooftop deck with views of DPAC and downtown Durham.
• Acquisitions and Capital Markets Project and deal sourcing, initial underwriting, structuring, financing, and closing services for real estate acquisitions across the Carolinas.
• Development and Construction Management Management of the entire lifecycle of real estate projects from acquisition through design, entitlement, construction, and delivery.
• Leasing and Brokerage Commercial leasing and brokerage for office and retail, plus oversight for residential leasing across the portfolio.
• Investments and Asset Management Responsible for financial performance of all assets and all investor relations activities for CBC and joint-venture properties.
• Property Management Day-to-day and long-term property operations including maintenance, tenant support, and community engagement across the portfolio.
• Accounting and Finance Property accounting and reporting for CBC and joint-venture assets, plus corporate financial reporting, analysis, and planning.

Quantifiable outcome

• Over 4,000 people daily at American Tobacco Campus
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

20 partnerships are on record, tiered core and major.

• YMCA of the TrianglecoreStrategic or Co-development Partner · 1 September 2025CBC Real Estate serving as development partner for Downtown Durham YMCA - 65,000 square foot facility on 0.79-acre site acquired from CBC. Estimated construction cost $46 million. Long-standing partnership dating to 2005 with existing YMCA at American Tobacco.
• The Keith CorporationcoreStrategic or Co-development Partner · 1 January 2023Lead development partner on The Thread in Rock Hill, SC - 400,000 square foot adaptive reuse of historic textile mill. The Keith Corporation leads project management, leasing, and construction coordination for this flagship mixed-use development.
• Springsteen PropertiescoreStrategic or Co-development Partner · 1 January 2023Joint venture partner on The Thread - managing real estate portfolio of Springs Creative Products Group. Springsteens bring historic textile mill property ownership and long-term community roots to the partnership.
• Loden PropertiescoreStrategic or Co-development Partner · 1 January 2015Joint venture partner on Aloft Downtown Durham hotel - 134-key limited-service hotel adjacent to Durham Performing Arts Center and Durham Bulls Athletic Park. CBC and Loden partnered on development with Loden handling hospitality operations.
• HinescoreStrategic or Co-development PartnerJoint venture partner on Market District at American Tobacco - visionary 1.2 million square foot expansion of historic American Tobacco Campus. Hines providing development and asset management expertise for Phase 1 (750,000 sq ft) of creative office, retail, and high-rise apartments.
• Affinius CapitalcoreStrategic or Co-development PartnerJoint venture partner on Market District at American Tobacco and Bandwidth headquarters campus. Capital provider and co-developer on major mixed-use and corporate campus projects across the portfolio.
• East West PartnerscoreStrategic or Co-development PartnerDevelopment partner on Bandwidth headquarters campus - 40-acre, 550,000 square foot build-to-suit project in Raleigh. East West Partners provided development management and client coordination for the corporate campus.
• City of DurhamcoreStrategic or Co-development PartnerGovernment partner on American Tobacco Campus development since 2001. City of Durham partnered with CBC and Durham County to take control of vacant campus and oversee its renovation into the mixed-use campus seen today.
• Durham CountycoreStrategic or Co-development PartnerGovernment partner on American Tobacco Campus development. County partnered with CBC and City of Durham to transform vacant tobacco campus into regional economic driver.
• Self-HelpmajorStrategic or Co-development PartnerLong-standing support for American Underground innovation ecosystem. National community development financial institution based in Durham, NC with deep commitment to entrepreneurship and economic development in the community.
• GooglemajorGTM or Marketing PartnerProgramming partner for American Underground - curates events, panels, mentorship sessions, and networking opportunities at coworking locations. Google provides resources and programming support for startup community.
• Fidelity Center for Applied Technology (FCAT)majorGTM or Marketing PartnerProgramming partner for American Underground - partners on curated events, mentorship, and technology community programming at Durham coworking locations.
• Fullsteam BrewerymajorStrategic or Co-development PartnerDurham-based craft brewery expanding to American Tobacco Campus - relocating flagship Downtown Durham taproom to new 9,000 sq ft space in historic Power Plant building. Also expanding to manage Rocky Mount Brewmill incubator at Rocky Mount Mills.
• Durham BullsmajorStrategic or Co-development PartnerTriple-A minor league baseball team owned by Capitol Broadcasting Company. American Tobacco Campus development designed around Durham Bulls Athletic Park, creating live-work-play destination. Shared ownership with CBC Real Estate under parent company.
• Durham Performing Arts Center (DPAC)majorStrategic or Co-development PartnerMajor entertainment venue adjacent to American Tobacco Campus and Durham Bulls Athletic Park. DPAC creates entertainment anchor that drives foot traffic and demand for surrounding mixed-use development.
• Little Diversified Architectural ConsultingcoreImplementation/ SI/ Consulting PartnerPrimary architecture partner for multiple projects including American Underground ATC location, Downtown Durham YMCA, and The Thread. National firm with Durham office since 2007. Completed 29 YMCA projects including all four Durham YMCA locations.
• Thomas & HuttoncoreImplementation/ SI/ Consulting PartnerCivil engineering partner for Downtown Durham YMCA and multiple ATC projects. Multidisciplinary engineering firm active since 1995 in Durham, providing civil engineering for American Tobacco Campus and Rocky Mount Mills.
• GenslercoreImplementation/ SI/ Consulting PartnerArchitect for Bandwidth headquarters campus - 450,000 sq ft, 5-story office building on 40-acre campus. Gensler provided design services for this flagship build-to-suit project.
• Choate ConstructioncoreImplementation/ SI/ Consulting PartnerGeneral contractor for The Thread Phase 1 development in Rock Hill. Leading construction management for 200,000 sq ft adaptive reuse of historic textile mill into mixed-use destination.
• Hoar ConstructioncoreImplementation/ SI/ Consulting PartnerGeneral contractor for Market District at American Tobacco Phase 1 development. Building 750,000 sq ft of creative office, retail, and high-rise apartments expansion.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Crescent Communities: Charlotte-based mixed-use and multifamily developer operating across the Carolinas and Southeast. Comparable in scale, mixed-use product type, and Carolinas geographic focus.
• Kane Realty Corporation: Raleigh-based vertically integrated mixed-use developer anchored by North Hills, a 4M+ sq ft mixed-use district. Most directly comparable peer: same Triangle geography, similar adaptive reuse/mixed-use thesis, comparable tenant mix and institutional partnerships.
• Northwood Ravin: Southeast-focused multifamily developer and operator with comparable apartment community product (e.g., MoJud Lofts, Overlook on Main) and regional Carolinas exposure.
• Grubb Properties: Charlotte-based mixed-use and multifamily developer with similar adaptive reuse and urban infill focus across the Carolinas. Comparable product mix and tenant base.
• The Keith Corporation: Charlotte-based mixed-use developer and CBC's joint venture partner on The Thread. Highly comparable in adaptive reuse of historic industrial properties and mixed-use development in Carolinas metros.
• Childress Klein: Charlotte-based commercial real estate developer and investor with deep Carolinas portfolio across office, retail, and mixed-use. Comparable regional developer profile.

Broad incumbents

• Hines: Global real estate developer and investor; CBC's JV partner on Market District at American Tobacco. Massive scale incumbent offering mixed-use product; partnership indicates direct product/market overlap.
• Highwoods Properties: Raleigh-based publicly traded office REIT with significant Carolinas office portfolio. Competes for similar corporate office tenants though structured as a public REIT rather than developer/operator.
• Howard Hughes Holdings: National master-planned mixed-use developer (Ward Village, The Woodlands, Downtown Columbia). Comparable thesis of building district-scale mixed-use communities, though at much larger scale.
• Beacon Partners: Charlotte-based commercial real estate firm with office, industrial, and mixed-use product across the Carolinas. Broader incumbent in same regional market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• LinkedInlinkedin.com/company/cbcrealestate

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CBC Real Estate