REBusinessOnline

Marcus & Millichap Brokers Sale of Two Mixed-Use Buildings in Brooklyn for $18.7M

NEW YORK CITY — Marcus & Millichap has brokered the $18.7 million sale of two mixed-use properties in Brooklyn located at 984-994 Winthrop St. and 4512-4524 Church Ave. Matt Fotis, Matt Shapiro and Tyler Workman of Marcus & Millichap represented the seller, Renaissance Realty Associates, in the transaction. The Bauta Family purchased both properties. The first property, 984-994 Winthrop St., is a four-story building consisting of five retail units and 39 residential units. The second, …

TerraCRG Negotiates Sale of Mixed-Use Portfolio in Brooklyn for $8.5M

NEW YORK CITY — TerraCRG has negotiated the $8.5 million sale of a mixed-use portfolio in the Bushwick neighborhood of Brooklyn. The three adjacent properties are located at 373, 375 and 379 Knickerbocker Ave. and total 16,390 square feet, featuring three ground-level retail stores and four residential apartments. The properties also have approximately 8,900 square feet of additional buildable square footage. TerraCRG represented the sellers, Beth and Sue Kneller, in the transaction. Keller …

NP International to Construct 1.3 MSF Mixed-Use Development Near Miami

CORAL GABLES, FLA. — NP International (NPI) has selected Balfour Beatty to construct the 1.3 million-square-foot Gables Station mixed-use development in Coral Gables, a suburb of Miami. Comprised of three towers, the development will feature retail space, residential units, a hotel and a 1,000-car parking garage. The transit-oriented development is situated within a commercial corridor on U.S. Highway 1 and is adjacent to the Miami Metrorail, providing easy access to the Miami …

Boylston Properties, The Wilder Cos. Secure $324M Construction Financing for Mixed-Use Redevelopment Near Boston

BOSTON — Developers Boylston Properties and The Wilder Cos. have secured $324 million in construction financing and joint venture equity for the development of Arsenal Yards, a six-building, mixed-use redevelopment of the former Arsenal Mall in Watertown. HFF worked on behalf of the developers to source institutional investors advised by JP Morgan Asset Management as joint venture equity partners, providing $102 million of equity. HFF also arranged a $222 million construction loan from …

Viking Unveils Redevelopment Plans for $100M Mixed-Use Project Near Louisville

HURSTBOURNE, KY. — Viking Partners Fund III LLC has unveiled plans for the redevelopment of Hurstbourne Business Park, a 27-acre property located at the intersection of Shelbyville Road and Hurstbourne Parkway in Hurstbourne, roughly 13 miles east of Louisville. Viking originally acquired the site in 2016. The property currently includes 350,000 square feet of office space in two separate buildings; P.F Chang’s and Z’s Oyster Bar & Steakhouse; and Hurstbourne Plaza, an existing …

Pembrook Provides $35M Bridge Loan for Mixed-Use Project in Manhattan

NEW YORK CITY — Pembrook Capital Management has provided a $35 million first mortgage bridge loan for a mixed-use construction project located at 257-263 West 34th St. in Manhattan. The funds provided by Pembrook will refinance the developer’s existing debt and allow it to start construction on the project. When completed, the six-story building will include 15,000 square feet of retail space and 25,000 square feet of office space. The property is located in the garment district of …

Joint Venture Breaks Ground on 102,250 SF Mixed-Use Property in Metro Houston

SPRING, TEXAS — A joint venture between Patrinely Group, USAA Real Estate and CDC Houston has broken ground on a 102,250-square-foot mixed-use property within the 60-acre CityPlace development in the northern Houston metro of Spring. The project will deliver a 52,250-square-foot building with approximately equal amounts of office and retail space, as well as a 50,000-square-foot, 10-screen Star Cinema Grill. Completion is slated for the first quarter of

LPC West Buys 57,253 SF Mixed-Use Property Near San Diego for $27.5M

DEL MAR, CALIF. — LPC West has acquired Polo Plaza, a mixed-use property located at 3702 and 3790 Via De La Valle in Del Mar, approximately 20 miles north of San Diego. An undisclosed local seller sold the property for $27.5 million. At the time of sale, the two-building 57,253-square-foot property was 92 percent occupied. Ben Tashakorian and Bradley Peters of Marcus & Millichap represented the seller, while LPC West represented itself in the transaction. LPC West plans to renovate …

Blue Horseshoe Ventures to Develop $50M Mixed-Use Project in Gahanna, Ohio

GAHANNA, OHIO — Blue Horseshoe Ventures Ltd. is developing Hamilton Towne Centre, a $50 million mixed-use development in Gahanna near Columbus. The project will include a 48,000-square-foot office building that will serve as the corporate headquarters for Blue Horseshoe. Plans also call for a luxury apartment complex, four-story hotel, specialty coffee shop, fitness center and several restaurants. A timeline for completion was not

Warfield Buys Historic 91-Acre Site Near Baltimore for Mixed-Use Redevelopment

SYKESVILLE, MD. — Warfield Cos. has acquired a 91-acre site in Sykesville, roughly 25 miles northwest of Baltimore, with plans deliver a new mixed-use project. Upon completion, the former site of the Springfield Hospital Center will include 600,000 square feet of office, light industrial and retail space, as well as roughly 180 residential units, a full-service hotel and a 27-acre town park. The site, which will be rebranded “Warfield at Historic Sykesville,” includes 12 buildings that …

Content Partners