MYRTLE BEACH, S.C. — Eyzenberg & Co. has arranged a $22.6 million construction loan for the development of a 42,000-square-foot retail project located at 1410 N. Ocean Blvd. in Myrtle Beach. The three-story, oceanfront complex will include a live entertainment venue, restaurants and retail space. David Eyzenberg and Ao Sun of Eyzenberg & Co. arranged the non-recourse financing at 60 percent loan-to-cost through Gamma Real Estate. Tin Roof, a restaurant/entertainment operator, will..
RONKONKOMA, N.Y. — The Town of Brookhaven Industrial Development Agency (IDA) has closed on a package of economic benefits for the first phase of Tritec Real Estate Co.’s planned Ronkonkoma hub transit-oriented development project, which is expected to break ground soon. The package was approved unanimously in 2014, but did not close until recently due to the timing of required approvals, including sewer connections, and the acquisition by East Setauket, N.Y.-based Tritec and its partner of..
ATLANTA — Simon has unveiled plans to transform Phipps Plaza, an upscale shopping mall in Atlanta’s Buckhead district, into a mixed-use destination. The additional uses coming to Phipps Plaza include a 150-room Nobu Hotel, 10,000-square-foot Nobu Atlanta Restaurant, 90,000-square-foot Life Time Athletic fitness center and a 12-story office building. The hotel will feature a rooftop pool, conference space and spa facilities, and the restaurant will offer Japanese-style cuisine. Life Time..
HOUSTON — Buffalo Bayou Brewing Co. will open a three-story, 28,000-square-foot brewery and restaurant at 2101 Summer St. in Houston’s First Ward. Houston-based Method Architecture will be designing the property, which will offer a rooftop beer garden with views of downtown Houston and a full-service kitchen. Construction is currently slated to begin this winter, with a target completion date of late 2018. A general contractor for the project has not yet been selected.
BOSTON — Related Beal has placed the final beam in the redevelopment of 40 Water Street, which formerly served as the Fidelity Investment headquarters. The redeveloped property, called Congress Square, will create a 24-hour mixed-use environment connecting Government Center, Faneuil Hall, Post Office Square and Downtown Crossing. The building features a glass curtainwall addition on top of the more than 320,000-square-foot office building. The redevelopment also includes preserving the..
MIAMI — Thor Equities has broken ground on Wynwood Walk, a 63,000-square-foot restaurant and retail development located at 2800 N.W. 2nd Ave. in Miami’s Wynwood Art District. Upon completion, the project, designed by Oppenheim Architecture, will feature new retail and restaurants, a green rooftop, paseo and a landscaped terrace with outdoor seating. Construction is scheduled for completion in November 2018.
FORT WORTH, TEXAS — Hillwood has broken ground on Parkside at Alliance Town Center, a 3.5-acre dining and entertainment destination that will be located within the 900-acre AllianceTexas development in Fort Worth. Upon completion, the property will feature a live music stage and space for outdoor games. Two restaurants, Grub Burger Park and Shell Shack, have already committed to operating within the site, with more to come. Construction for the Grub Burger Park and Shell Shack locations is..
ATLANTA — Five new eateries have inked leases at The Hub, the retail portion of downtown Atlanta’s Peachtree Center. The new restaurants are part of a project from Banyan Street Capital to renovate and modernize the mixed-use destination’s retail center. Amy Fingerhut of CBRE arranged leases with the new tenants, which will open on a rolling schedule beginning later this year and into early 2018. The new tenants include Salata, a build-your-own salad chain that will open its third..
MILFORD, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to Starbucks in Milford, about 15 miles northeast of Cincinnati, for $1.8 million. The 2,107-square-foot retail property was newly constructed this year and features 10 years of initial lease term. Dan Cooper represented the undisclosed seller. A California-based buyer purchased the property.
AZUSA, CALIF. — Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners have arranged the sale of a single-tenant McDonald’s ground lease in Azusa. A private 1031 exchange buyer acquired the ground lease from a Newport Beach-based private investor for $3.5 million.
Built in 2017, the 4,365-square-foot property features a double drive-thru. McDonald’s occupies the property on a 20-year ground lease.
Eric Wohl of Hanley Investment and Michael Walseth of SRS..