Marcus & Millichap Brokers $13M Sale of Mixed-Use Property in Des Plaines, Illinois

DES PLAINES, ILL. — Marcus & Millichap has brokered the sale of Metropolitan Square in Des Plaines, a northwest suburb of Chicago, for $13 million. The 120,983-square-foot mixed-use property is located at 518 Metropolitan Way. Completed in 2004, the property includes a 40,000-square-foot Shop & Save Market, a freestanding Fifth Third Bank, a 10,500-square-foot multi-tenant strip center and additional street-level retail space. Also included in the sale was a three-story,..

November 13, 2017

Oaxaca Interests to Develop Three New Retail Buildings at Sylvan | Thirty in West Dallas

DALLAS — Dallas-based Oaxaca Interests plans to develop three new retail buildings at Sylvan | Thirty, a mixed-use development at Sylvan and Fort Worth avenues in West Dallas. Each building will span 3,500 square feet. Oaxaca will also demolish an existing drive-thru bank, reconfigure the parking lot and update the exterior of the existing office building at Sylvan | Thirty. The design team includes architect Lake Flato and landscape architect Hocker Design Group. Sylvan | Thirty’s existing..

November 10, 2017

Marcus & Millichap Brokers $9.8M Sale of 21,973 SF Mixed-Use Building in North Hollywood

NORTH HOLLYWOOD, CALIF. — Marcus & Millichap has arranged the sale of Andrew’s Plaza, a mixed-use building located at 11305 Magnolia Blvd. in North Hollywood. Yasam Legacy LLC acquired the property from a limited liability company for $9.8 million. At the time of sale, the 21,973-square-foot property was 96.9 percent occupied by a mix of retail and office tenants. Martin Agnew and Ryan Rothstein-Serling of Marcus & Millichap represented the seller and buyer in the deal.

November 9, 2017

PGIM Acquires 412,900 SF Mixed-Use Property in Greater Houston

KATY, TEXAS — PGIM Real Estate, the real estate investment vehicle of Prudential Financial Inc., has acquired LaCenterra at Cinco Ranch, a 412,900-square-foot mixed-use property in Katy. The 34-acre, Class A lifestyle center features 273,522 square feet of retail space, which is anchored by Trader Joe’s, and 139,378 square feet of office space. Those components are 93 percent and 89 percent leased, respectively. The final phase of the development features an eight-screen Alamo Drafthouse..

November 9, 2017

HFF Arranges $103.3M in Construction Financing for Mixed-Use, Student Housing Project in Downtown Orlando

ORLANDO, FLA. — HFF has arranged $103.3 million in financing for the development of a mixed-use, student housing development in downtown Orlando. The project is part of the University of Central Florida (UCF)/Valencia Downtown Campus at Creative Village. The Creative Village project is a redevelopment of the former Amway Arena site into a 68-acres mixed-use, transit-oriented community. Michael Weinberg, Brian Kelly and Mike Higgins of HFF arranged the financing on behalf of the project's..

November 9, 2017

Brandywine Realty, Drexel University Break Ground on Phase I of $3.5B Schuylkill Yards Project in Philadelphia

PHILADELPHIA — Brandywine Realty Trust (NYSE: BDN), in partnership with Drexel University, has broken ground on Phase I of the mixed-use, master-planned Schuylkill Yards Innovation Community in West Philadelphia’s University City district. The first phase of the $3.5 billion development will include a 1.3-acre community park at the corner of 30th and Market streets known as Drexel Square, which will be situated directly across from Amtrak’s 30th Street Station. Other components of..

November 9, 2017

Nationwide Realty Investors Unveils Plans for 32,000 SF Mixed-Use Building in Columbus, Ohio

COLUMBUS, OHIO — Nationwide Realty Investors has unveiled plans for a new 32,000-square-foot mixed-use building at Grandview Yard in Columbus. Located at 1125 Yard St., the building will feature ground-level retail space and medical office space on the second floor. Columbus Obstetricians-Gynecologists Inc. will occupy 10,000 square feet on the second floor. The new Grandview Yard location will replace the company’s Mount Carmel West location when it opens in late 2018. The groundbreaking..

November 8, 2017

KGH Completes Initial Phase of $50M Infrastructure at Metropica Project in South Florida

SUNRISE, FLA. — KGH International Development has completed the first of two planned infrastructure phases totaling more than $50 million at Metropica, a 65-acre planned mixed-use development in Sunrise. The infrastructure work, managed by John Moriarty & Associates, readies the community for its multi-phased construction. Conclusion of the first infrastructure phase also marks Metropica’s first two named streets: Metropica Boulevard and Metropica Way. At full build-out, the $1.5..

November 7, 2017

CREW Atlanta: The Key to Connectivity Lies in Transit-Oriented Development

ATLANTA — When it comes to creating a “connected Atlanta,” experts say the foundation is in building a connected community. At a Nov. 2 luncheon hosted by the Atlanta chapter of Commercial Real Estate Women (CREW Atlanta), representatives from Atlanta’s local transit authority, MARTA, and Dallas-based development firm KDC highlighted projects around the city all centered around a common theme: mass transit. “MARTA has five transit-oriented development (TOD) projects in various..

November 7, 2017

Developer to Build $120M Mixed-Use Project at Craig Ranch in McKinney

MCKINNEY, TEXAS — Developer Shane Jordan will build Hub 121, a 22-acre mixed-use property that will be located within the Craig Ranch development in McKinney. The first phase of the project will deliver a 40,000-square-foot restaurant park with pedestrian walkways that connect to Independent Bank’s 400,000-square-foot headquarters and the development’s 2,500-unit residential community. Phase I will also deliver a 6,500-square-foot entertainment pavilion, 20,000 square feet of retail space..

November 3, 2017