Mixed-Use

DigitalBridge Signs 79,141 SF Corporate Headquarters Lease at Sundy Village in Delray Beach, Florida

by John Nelson March 28, 2024

DELRAY BEACH, FLA. — DigitalBridge, a digital infrastructure investment firm active in data centers and cell towers, has signed a 79,141-square-foot office lease at Sundy Village, a mixed-use development located at 100 S.E. 1st Ave. in Delray Beach. The South Florida property will serve as the new corporate headquarters for DigitalBridge, which is relocating from nearby Boca Raton. The company plans to move its 300 employees to Sundy Village in the third quarter. The development’s other office tenants will include the developer, Pebb Capital, as well as Vertical Bridge. Joe Freitas and John Criddle of CBRE oversee office leasing at Sundy Village, which also features retail space, structured and subterranean parking and green spaces.

March 28, 2024

Development Florida Leasing Activity Mixed-Use Retail Southeast

Bowlero Opens 30,000 SF Lucky Strike Bowling Alley at Miami Worldcenter

by John Nelson March 28, 2024

MIAMI — Bowlero Corp. has opened Lucky Strike Miami, a 30,000-square-foot entertainment venue within the $6 billion Miami Worldcenter development. The venue is the second new build for Bowlero using the Lucky Strike brand since it was acquired in September. Lucky Strike Miami features 28 bowling lanes, an arcade, craft cocktail bar, food service and a VIP room with six private bowling lanes. The venue is situated adjacent to Kaseya Center, home arena of the NBA’s Miami Heat. Miami Worldcenter Associates is the master developer of the 27-acre district, which comprises 10 city blocks and features three residential towers and the newly opened citizenM hotel, among other uses.

March 28, 2024

California Development Loans Mixed-Use Multifamily Office Western

Urban Catalyst Receives $10.5M in Financing for Icon/Echo Mixed-Use Redevelopment Project in San Jose

by Amy Works March 28, 2024

SAN JOSE, CAILF. — Gantry has secured $10.5 million in financing for pre-construction costs for Icon/Echo, a mixed-use redevelopment project in downtown San Jose. The borrower, Urban Catalyst, plans to construct two towers on the 2.1-acre land site following demolition of existing buildings and a parking lot. Current plans include a 21-story office building with street-level retail and a 27-story multifamily residential tower. The towers will be connected by a shared podium on floors one through four. Additionally, the project will offer a below-grade level of parking and 1,000 parking spaces. Construction at the site is slated to begin the next 12 to 24 months. Jeff Wilcox and Robert Slatt of Gantry arranged the short-term bridge loan with interest-only terms through a private real estate investment company.

March 28, 2024

Development Georgia Hospitality Mixed-Use Restaurant Retail Southeast

Centennial Yards Co. Unveils Plans for New Entertainment District in Downtown Atlanta

by John Nelson March 27, 2024

ATLANTA — Centennial Yards Co., a development entity owned by Los Angeles-based CIM Group, has unveiled plans for the next phase of its $5 billion mixed-use destination in downtown Atlanta. Spanning eight acres adjacent to Mercedes-Benz Stadium and State Farm Arena, the new phase of Centennial Yards will create a mixed-use entertainment district spanning 480,000 square feet across four buildings, as well as a fan gathering area that the developer says will be heavily utilized during the games held in Atlanta during the 2026 FIFA World Cup. Designed by Gensler, the new phase will comprise a three-story, 70,000-square-foot building housing an unspecified “eatertainment” concept; a four-story, 160,000-square-foot building hosting a single-tenant entertainment venue; a two-story, 50,000-square-foot building with restaurants and shops; and a 14-story, 233-room hotel. Centennial Yards represents the transformation of the city’s Gulch district, a 50-acre site that has primarily served as subterranean parking for Atlanta Falcons games in years past. Including the new entertainment district, Centennial Yards at full build-out will span 8 million square feet of new and converted offices, apartments, hotels, shops, entertainment venues and restaurants, including Wild Leap Brewery. Centennial Yards Co. plans to deliver two-thirds of the overall development by summer 2026.

March 27, 2024

Development Mixed-Use Texas Top Stories

Lincoln Plans Four-Acre Mixed-Use Development in Uptown Dallas

by Kristin Harlow March 27, 2024

DALLAS — Lincoln Property Co. has acquired a four-acre site at 2500 Cedar Springs Road in Uptown Dallas. The firm plans to develop a Class A mixed-use project with approximately 400,000 to 500,000 square feet of office space, 250 luxury apartment units, a 200-room hotel, 25,000 square feet of food-and-beverage retail, and ample green space. The project site is near the Crescent office and hotel, the Ritz-Carlton hotel, the Katy Trail, Klyde Warren Park, Victory Park, the American Airlines Center and numerous restaurants. Although a seller was not disclosed, the Dallas Business Journal reports that an entity connected to Greenway Investment Co. previously owned the property, a retail strip built in the 1950s. A timeline for development has yet to be finalized, according to Chase Prospere, senior vice president and office market leader at Lincoln in Dallas. “Complex developments like this are years in the making and it’s very early in the process, but we intend to move at pace to get to groundbreaking,” says Prospere. “We are actively marketing the project to prospective anchor tenants and expect leasing activity to be strong given the unique location and amenities of the project.” The Uptown submarket of Dallas posted an office …

March 27, 2024

Development Georgia Mixed-Use Southeast

Balfour Beatty Completes Adaptive Reuse of Former Coca-Cola Bottling Plant in Atlanta

by John Nelson March 26, 2024

ATLANTA — Balfour Beatty has completed construction of 560 Edgewood, the adaptive reuse of a historic Coca-Cola bottling plant in Atlanta. Charlotte-based Asana Partners is the owner of the 60,000-square-foot building, which is situated along the Atlanta BeltLine’s Eastside Trail and adjacent to Krog Street Market, a popular food hall also owned by Asana Partners. Balfour Beatty was the construction manager of the redevelopment, which converted the 1915-built factory into a mixed-use project with a new rooftop amenity, 104-space parking deck, restored windows and a revamped brick façade. Locally based ASD|SKY was the architect for the redevelopment. Asana Partners has tapped Molly Morgan and Allie Spangler of JLL to handle retail leasing at 560 Edgewood. Bennett Gottlieb with Capital Real Estate Group is handling service and office space leasing.

March 26, 2024

Development Florida Mixed-Use Southeast

Partnership Breaks Ground on 5.6-Acre FAT Village Mixed-Use Development in Fort Lauderdale

by John Nelson March 22, 2024

FORT LAUDERDALE, FLA. — A partnership comprising Hines, Urban Street Development, Cresset Real Estate, Las Americas, Hudson Capital and Halmos Holdings has broken ground on FAT Village, a 5.6-acre mixed-use project in Fort Lauderdale. FAT stands for “Food Art Technology.” The first phase, which is scheduled for completion in 2027, will feature 74,000 square feet of retail space, in addition to 601 apartments and 180,000 square feet of mass-timber office space dubbed T3 (Timber, Transit and Technology). FAT Village’s second phase will be developed upon completion of the first. In total, the project will comprise 850 residential units and more than 80,000 square feet of retail space, as well as a 1,200-space commercial parking structure. Hines received a $220 million construction loan for the development in December 2023.

March 22, 2024

Affordable Housing Development Georgia Mixed-Use Multifamily Southeast

Culdesac, Urban Oasis to Develop 20-Acre Murphy Crossing Project in Atlanta

by John Nelson March 22, 2024

ATLANTA — Culdesac Inc. and Urban Oasis Development will develop the Murphy Crossing mixed-use redevelopment in Atlanta’s Oakland City neighborhood, following approval by Atlanta BeltLine Inc. (ABI) and Invest Atlanta, the City of Atlanta’s economic development arm. Located at 1050 Murphy Ave., the project will span 20 acres and feature 1,100 residential units, as well as commercial space, light industrial space and amenities. Of the residential units, 30 percent will be designated as affordable housing for residents earning 60 to 80 percent of the area median income (AMI). Additionally, a portion of the commercial and industrial space will be offered at an affordable rate to small businesses, with small business retail tenants eligible for one-time business grants. Upon completion, the development, which is situated adjacent to the BeltLine’s Westside Trail and near the Oakland City and West End MARTA stations, will feature plazas, courtyards, green space, paths, bike lanes and a community garden. A development timeline was not disclosed.

March 22, 2024

Build-to-Rent California Development Mixed-Use Multifamily Retail Single-Family Rental Western

Sunjoint Development Starts Construction of 49-Acre Residential, Retail Project in Walnut, California

by Amy Works March 22, 2024

WALNUT, CALIF. — Sunjoint Development has started construction of Terraces at Walnut, a 49-acre mixed-use development located on Valley Boulevard in Walnut, approximately 25 miles east of downtown Los Angeles. Construction of the first product type, single-family homes, began in November 2023 and the first five phases are currently being made available for sale. The remaining homes will be built in phases — townhomes, three-story homes and estate lots. Full buildout is slated for year-end 2025. KTGY designed the project, which CBC Home is building. Terraces at Walnut will feature 79 townhomes, 211 detached single-family homes and 17,052 square feet of retail space. The three- and four-bedroom townhomes will range from 1,548 square feet to 1,914 square feet, while the single-family homes will offer three- or four-bedroom layouts ranging from 2,198 square feet to 3,561 square feet. The retail space will include a variety of food users, including dine-in restaurants, specialty retailers and beverage users. Terraces at Walnut will also feature 11 pocket parks and an internal trail system. Blake Kaplan, Erik Westedt and Drew Olson of JLL are overseeing leasing of the retail space.

March 22, 2024

Loans Mixed-Use Texas

EBSC Lending Provides $59M Construction Loan for Austin Mixed-Use Project

by Taylor Williams March 21, 2024

AUSTIN, TEXAS — California-based EBSC Lending has provided a $59 million construction loan for a 201,821-square-foot mixed-use project in northwest Austin. The undisclosed project is located near Apple’s campus and will consist of three buildings that will house for-rent and for-sale residential units, as well as retail and restaurant space. Completion is slated for 2025. The undisclosed, locally based borrower will use the proceeds to retire existing debt and fund additional construction and lease-up costs.

March 21, 2024

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