REHOBOTH BEACH, DEL. — Newmark Knight Frank (NKF) has brokered the sale of a 10.3-acre development parcel located at the southeast corner of Coastal Highway and Holland Glade Road in Rehoboth Beach. The Corrado Family LLC sold the 448,668-square-foot site to Coastal Station Development Co. for $13.5 million. The buyer plans to redevelop the site, with the first phase featuring a Royal Farms convenience store and Iron Hill Brewery & Restaurant. Mike Margolis, Dave Dolan and Neal Dangello of..
NASHVILLE, TENN. — Indianapolis-based Buckingham Cos. has opened the residential portion of Aertson Midtown, a 17-story, 600,000-square-foot mixed-use development located adjacent to Vanderbilt University in Nashville. The Residences at Aertson Midtown is made up of 350 studio, one-, two- and three-bedroom units with rents ranging from $1,800 to $5,500 per month. The property features a rooftop pool, dog park, dog wash station, bike storage, theater, fitness center and 24-hour in-room dining..
NASHVILLE, TENN. — AEG plans to develop a mixed-use entertainment district at Southwest Value Partner’s (SWVP) Nashville Yards in downtown Nashville. The Los Angeles-based sports and entertainment venue owner/operator purchased a four-acre parcel of land that will be anchored by a 4,000-capacity music venue, a flagship Regal Cinemas theater complex, a 600- to 700- capacity live entertainment club, an approximately 240-room boutique hotel and other entertainment, food and beverage options...
SAVANNAH, GA. — Colliers International has brokered the sale of a full city block in downtown Savannah, comprising two historic buildings and one shared parking lot located at 114 Barnard St., 104 W. State St. and 109-119 Whitaker St., for an undisclosed price. Ashley Smith, Rhett Mouchet and Tyler Mouchet of Colliers International’s Savannah office represented the undisclosed seller in the transaction. The U.S. Post Office, Roly Poly, Alligator Soul and various office spaces are among the..
CHICAGO — North Wells Capital, the investment management affiliate of Urban Innovations Ltd., has acquired a 45,359-square-foot mixed-use building and adjacent parking lot in Chicago’s River North neighborhood. The purchase price was not disclosed. Located at 308 W. Erie St., the seven-story building includes 36,859 square feet of office space and 8,500 square feet of retail space. Built in 1937 and renovated in 2015, the building is 100 percent leased to 13 tenants. The parking lot..
HOUSTON — Whitestone REIT has landed an $80 million loan for the acquisition of BLVD Place, a 216,692-square-foot mixed-use asset located at 1700 Post Oak Blvd. in the Galleria area of Houston. Anchored by Whole Foods Market, the property was 99 percent occupied at the time of loan closing to tenants such as Frost Bank, Verizon Wireless and True Food. Matt Kafka and Kelly Layne of HFF arranged the 10-year, fixed-rate loan. Whitestone acquired the property for approximately $158 million from a..
CHARLESTON, S.C. — CBRE has arranged $35.5 million in financing for Half Mile North and Pacific Box & Crate, two mixed-use projects on the Charleston peninsula. CBRE’s Jeff Ackemann and Porter McDonald arranged the permanent mortgage through Nationwide Real Estate Investments on behalf of the borrower, Raven Cliff Co. LLC. In 2016, the CBRE team secured a $35 million construction loan to recapitalize the Half Mile North Development and provide construction financing for the Pacific Box..
DALLAS — De La Vega Development will develop OVERstreet at SEVENTYfive, a 1.4 million-square-foot mixed-use project situated at the corner of North Central Expressway and Haskell Avenue in Dallas. The four-building project will deliver 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower. The project will also include three parking garages totaling 2,770 spaces. De La Vega purchased the 10-acre..
DANA POINT, CALIF. — Faris Lee Investments has arranged the sale of La Plaza Pacifica, a retail and office property located at 34052 La Plaza Drive in Dana Point. Raintree Evergreen LLC acquired the property from Trowbridge Vaughen Vivos Trust for $6.6 million, or $463 per square foot. At the time of sale, the 14,900-square-foot property was 95 percent occupied. Jeff Conover of Faris Lee Investments represented the buyer and seller in the deal.
BOSTON — Cottonwood Management, a private real estate management and development firm based in Los Angeles, has started construction of Echelon Seaport, a three-tower, $900 million mixed-use development in Boston’s Seaport district. Set to open in phases between 2019 and 2020, the project will feature 733 condominiums and apartments and 125,000 square feet of retail space. The 3.5-acre development is situated at Seaport Boulevard and B Street and directly across from HarborWalk and..