Mixed-Use

City-Trust-Collection-Bridgeport-Connecticut

BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $21.5 million sale of a 273,612-square-foot mixed-use property in the southern coastal Connecticut city of Bridgeport. Known as The City Trust Collection, the property spans a fully city block at 955 Main St. in the downtown area and comprises 117 market-rate apartment units, 42,238 square feet of commercial space and a 240-space (90,500-square-foot) parking garage. Brad Balletto and Rich Edwards of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Sugar-Land-Town-Square

SUGAR LAND, TEXAS — The City of Sugar Land, located southwest of Houston, is underway on the $12.5 million renovation and modernization of the city’s 32-acre downtown commercial center, known as Sugar Land Town Square. Under the terms of the funding agreement, which was approved last June, Building B is receiving upgrades to its communal office and amenity spaces, as well as its landscaping and streetscaping. In addition, Building H is seeing renovations to its entryway, lobby and signage, along with updates to the garden area and new furniture, fixtures and equipment. Sugar Land Town Square, which opened in 2003, is also now home to energy contracting firm Primoris Services Corp., which signed a 25,352-square-foot lease this fall. In addition, 17,000 square feet of new restaurant, retail and entertainment concepts have recently been announced at the development.

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Mizner-Park

BOCA RATON, FLA. — A joint venture between CP Group, The Georgetown Co., private equity firm ACRE and investment firm StepStone Group has acquired Mizner Park, an 838,840-square-foot, open-air mixed-use development located in downtown Boca Raton. The new ownership group is planning to implement a multimillion-dollar renovation for the 35-year-old complex. JLL represented the seller, Brookfield Properties, and secured financing through Blackstone for the transaction. Brookfield, which acquired Mizner Park via the company’s acquisition of General Growth Properties (GGP) in 2018. The sales price was not disclosed, but the property was marketed with prospective bids reaching up to $290 million prior to its recent sale, according to various media outlets. “Mizner Park has been an important part of Boca Raton for more than three decades, and we see tremendous opportunity to help grow its future,” says Jonathan Schmerin, managing principal of The Georgetown Co. “Alongside our partners, we’re excited to work with the city and community to strengthen the tenant mix, bring new energy to the property and reinforce its position as one of America’s signature shopping, dining and entertainment destinations.” Mizner Park is considered one of the most influential “live-work-play” destinations in the United States. It was originally developed …

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Peabody-Union

NASHVILLE, TENN. — A partnership between PGIM, Stiles Corp. and Hensler Development has received $310 million in bridge financing for Peabody Union, a recently completed mixed-use project situated along the Cumberland River in downtown Nashville. Blackstone Real Estate Debt Strategies (BREDS) provided the financing.  Ed Coco, Paul Stasaitis, Matt Casey, Anthony Sansone, Kelsey Bawcombe and Streeter Simmons of JLL Capital Markets secured the financing on behalf of the borrower. The three-year bridge loan carries two one-year extension options.  “Peabody Union represents one of the most compelling mixed-use financing opportunities in the Southeast, combining trophy-quality construction, an exceptional sponsorship team and a transformational office lease commitment from Starbucks Corp.,” says Coco. “We had a significant amount of interest from a variety of lender types.” Completed in 2025, Peabody Union comprises a 27-story luxury residential tower, Class A office space and curated retail and restaurant space.  The office component — which totals 249,988 square feet — is fully leased to Starbucks Corp. Starbucks plans to make the office its Eastern Headquarters beginning in 2027, when the company takes occupancy. Amenities at the office building include two 2,000-square-foot outdoor terraces, a 4,500-square-foot wellness facility, 4,000-square-foot club room, 1,000 square feet of bike storage …

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CHARLOTTE, N.C. — A joint venture between Lincoln Property Co., Vision Ventures and Hornets Sports & Entertainment has acquired Queen City Quarter, a 302,324-square-foot, four-level mixed-use destination in Uptown Charlotte. Formerly known as EpiCentre, the property spans 3.2 acres at 210 E. Trade St., which sits directly between the Charlotte Convention Center and Spectrum Center, home arena of the NBA’s Charlotte Hornets. Hornets Sports & Entertainment owns the team and operates Spectrum Center. Vision Ventures owned Queen City Quarter from 2010 to 2015. Patrick Gildea, Matt Smith, Adam Russ and Erin Varol of CBRE’s Charlotte office brokered the transaction. The property originally opened in 2008 and features restaurants, shops, offices and entertainment venues but has been in decline in terms of occupancy and traffic in recent years. CBRE took the then-known EpiCentre out of receivership in 2021 and announced it was leading the redevelopment and rebranding of the property to Queen City Quarter in 2022. The joint venture will evaluate opportunities to reposition the asset to “better serve the surrounding community and evolving needs of Uptown Charlotte.” According to Queen City Quarter’s property website and social media accounts, current tenants include Lucky Strike, Fleming’s Steakhouse, Insomnia Cookies, Kitchen + Kocktails, …

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NEW YORK CITY — JLL has brokered the $23.5 million sale of a mixed-use development site in Brooklyn. The 26,730-square-foot site at 1150 Broadway is located at the nexus of the borough’s Bedford-Stuyvesant and Bushwick neighborhoods and is zoned for the development of apartments, retail space and/or community facilities. Brendan Maddigan, Steve Rutman, Mike Mazzara and Ethan Stanton of JLL represented the seller, A-PLUS International Realty, in the transaction. The buyer, a partnership between Brooklyn-based YS Developers and Rabsky Group, did not disclose specific development plans for the site.

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RALEIGH, N.C. — A partnership between national health club chain Life Time (NYSE: LTH) and locally based development firm Dewitt Carolinas has broken ground on Life Time Living at The Exchange Raleigh, a luxury multifamily tower anchored by an 80,000-square-foot Life Time athletic club and a 40,000-square-foot rooftop beach club. The companies plan to invest more than $200 million into the 20-story tower, according to Triangle Business Journal. The residential project represents Phase II of The Exchange Raleigh, a $1 billion, 40-acre master-planned mixed-use development in the state capital’s Midtown neighborhood. The development team, along with construction manager Consigli Construction, is aiming for both NGBS Green and Fitwel certifications for the project, which is set to deliver in fourth-quarter 2028. “By bringing Life Time’s incredible athletic country club and luxury living model to our community, we are delivering on our promise to make Midtown Raleigh a destination unlike any other,” says Todd Saieed, CEO of Dewitt Carolinas. Life Time Living at The Exchange Raleigh will offer 289 luxury apartments ranging in size from 610 to 2,040 square feet. Units will come equipped with blackout curtains , walk-in closets, work-from-home space and stainless steel kitchen appliances. The Life Time athletic club …

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RESTON, VA. — Comstock Holding Cos. Inc. has obtained $299.1 million for the refinancing of the first three office towers within Reston Station, a 90-acre mixed-use development that surrounds the Wiehle-Reston East Metro Station in Northern Virginia. The office towers — 1900, 1902 and 1906 Reston Metro Plaza — were fully leased at the time of loan closing to firms including Google, ICF, CARFAX, FM and Amentum. Eastdil Secured Savills arranged the financing on behalf of Comstock Partners LC, a privately held affiliate of Comstock. Bank of America served as lead manager and sole bookrunner for the refinancing, which was used to fully repay a $292.9 million loan provided by Blackstone Real Estate Debt Strategies.

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NORRIDGE, ILL. — Jason Bitton of RE/MAX Commercial has arranged the $4.5 million sale of a mixed-use block totaling roughly 41,000 square feet on 1.9 acres in Norridge. A private investor was the seller. William Gold of Troy Realty Ltd. represented the buyer, Prospect Heights-based 1st Liberty Management Inc. The property includes two two-story buildings with eight ground-floor storefronts and 16 apartments above them as well as a one-story, 15,000-square-foot building.

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JOHNS CREEK, GA. — Toro Development Co., a locally based development firm led by Mark Toro, has officially opened Medley, a $560 million mixed-use campus in Johns Creek, a northern suburb of Atlanta in Fulton County. Toro Development held a grand opening ceremony on Thursday, Oct. 29 for the 43-acre project, which culminated in the opening of 25 new restaurants and retailers, including Trader Joe’s, Shake Shack, Sephora, BODYROK, Kontour Med Spa, Five Daughters Bakery, Summit Coffee, Hollow Oak, Drybar and Petfolk, among others. Additionally, Medley’s office component (112,000 square feet) was built on a speculative basis but opened fully leased to tenants including Boehringer Ingelheim (73,000 square feet for its U.S. Animal Health headquarters), Brightree (17,751 square feet) and an unnamed tenant. Stream Realty Partners is leasing the office space on behalf of Toro Development, and Cushman & Wakefield represented Boehringer Ingelheim and Brightree in their lease negotiations. Medley was formerly a suburban office campus for State Farm Insurance, which relocated away from the site in 2013. In addition to offices, shops and restaurants, Medley will feature 881 luxury residences, featuring for-sale townhomes and apartments; a 25,000-square-foot plaza; and a 150-room boutique hotel set to open in 2028 that …

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