JLL has secured a $21 million construction loan for the development of The Gwendolyn, a four-story, 106,000-square-foot office property in Chapel Hill. Hal Kempson and John Gavigan of JLL secured the financing on behalf of the borrower, Grubb Properties, through lender Bank OZK.

The property is part of the first phase of the Glen Lennox redevelopment, a 70-acre planned community that was completed in the 1950s as a center of living, shopping and industry for Chapel Hill residents.  Grubb Properties is revitalizing the community through modern design concepts and a network of connected greenspaces that will promote increased pedestrian and bicycle connectivity to the retail, office and residential options at Glen Lennox. The Gwendolyn is slated for completion in late 2020 and is nearby downtown Chapel Hill, downtown Durham, Research Triangle Park and the Raleigh-Durham International Airport.

“The Gwendolyn is named after Gwendolyn Harrison, the first African-American woman to attend the University of North Carolina in 1951,” said Clay Grubb, CEO at Grubb Properties. “I admire her accomplishments and determination to never give up, paving the way for others to follow suit. We hope by paying homage to these strong women through our buildings we will spark curious conversations about who these individuals were and inspire the next generation of diverse trailblazers and change-seekers.”

Terms of the financing were not disclosed.

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