Mixed-Use

Joint Venture Purchases Two Historic Mixed-Use Buildings in Downtown Baltimore Totaling 90,000 SF

by Alex Tostado November 24, 2020

BALTIMORE — A joint venture between Kemp Byrnes and Brad Byrnes of Byrnes & Associates Inc. and local entrepreneur Dave Gupta has purchased two historic buildings in downtown Baltimore for an undisclosed price. The assets, situated at 225 and 233 E. Redwood St., combine to span 90,000 square feet of office and retail space. The buyers plan to implement a $5 million renovation and rebranding into the properties. The four-story building at 225 E. Redwood St. will be known as the Vickers Building, and the 13-story building located at 233 E. Redwood St. will be dubbed the Redwood Exchange. The buyers will transform the upper floors of the Redwood Exchange, which currently houses the law office of Gordon Feinblatt LLC, into a multi-tenant space. The ground floors of both buildings will be leased to restaurant and retail users. More than $3 million has been invested in the properties over the past five years by the previous undisclosed owner to upgrade the exterior, interior common areas and HVAC system. Vickers Exchange was originally built in 1904 and includes Werner’s Restaurant, a pop-culture icon that has been featured in TV shows and movies such as “The Wire,” “Liberty Heights,” “Ladder 49,” “Tin …

November 24, 2020

Acquisitions Mixed-Use North Carolina Southeast

FCP, Kane Realty Sell The Dillon Mixed-Use Development in Downtown Raleigh for $236M

by Alex Tostado November 19, 2020

RALEIGH, N.C. — FCP and Kane Realty Corp. have sold The Dillon, a mixed-use development in downtown Raleigh, for $236 million. An undisclosed institutional buyer advised by MetLife Investment Management acquired the asset. The 18-story property comprises 221,300 square feet of office space, 271 multifamily units, 52,600 square feet of retail space and a 994-space parking deck. The Dillon is situated on 2.5 acres within downtown’s Warehouse District. FCP and Kane Realty completed the adaptive reuse of the 100-year-old Dillon Supply Warehouse in 2018. The office space was fully leased at the time of sale to tenants including healthcare analytics firm Medable Inc., Arch Capital Group Ltd., Spaces and technology company Analog Devices. Retail and restaurant tenants include O-Ku Sushi, Oak Steakhouse, Barcelona Restaurant and Wine Bar, Weaver Street Market, Urban Outfitters, Heirloom Brew Shop, Shred415 and JoJa Nails.

November 19, 2020

Development Midwest Missouri Mixed-Use

Kwame Building Group to Construct $81M The City District Project in North St. Louis City

by Kristin Harlow November 19, 2020

ST. LOUIS — Kwame Building Group will serve as construction manager for The City District, an $81 million mixed-use project in North St. Louis City. The project will revitalize 10 blocks in the historic O’Fallon Park neighborhood. A series of new construction and redevelopment initiatives will reimagine 610,000 square feet into retail, single-family and multifamily homes, and community greenspace. The project will be built in two phases with completion slated for spring 2025. The O’Fallon neighborhood is home to many large and historical homes, according to Kwame. In Phase II, $1 million will be invested for the rehabilitation of 26 existing homes. Several large, single-family homes will be converted into multi-use rental properties. AMJ Investment Group is the developer and Jackson Design Group is the architect. Other project partners include the City of St. Louis and Alderman John Collins-Muhammad.

November 19, 2020

Acquisitions California Mixed-Use Office Retail Western

Hunter Properties Sells Phase I of Coleman Highline Mixed-Use Campus in San Jose to Blackstone REIT for $275M

by Amy Works November 19, 2020

SAN JOSE, CALIF. — Cupertino, Calif.-based Hunter Properties has completed the sale of Phase I of Coleman Highline, a 1.75 million-square-foot, mixed-use campus in San Jose. The transaction included two office buildings totaling 360,000 square feet and fully leased to Roku, an amenities building and parking structure. Upon full build out, the Coleman Highline will total eight office buildings, a 175-room hotel and 115,000 square feet of amenity and retail space.

November 19, 2020

Acquisitions Development Mixed-Use Southeast Virginia

Hilco Acquires Shuttered 20-Acre Power Plant in Northern Virginia, Plans Mixed-Use Development

by Alex Tostado November 18, 2020

ALEXANDRIA, VA. — Hilco Redevelopment Partners, a division of Hilco Global, has acquired Potomac River Generating Station (PRGS), a 20-acre, shuttered coal power plant in Alexandria. Specific details were not released, but Hilco officials said they intend to redevelop the site into a mixed-use project, featuring housing, office space, retail and public open spaces. The site is situated along the Potomac River at 1400 N. Royal St., seven miles south of downtown Washington, D.C. Potomac Electric Power Co. (Pepco) sold the site for an undisclosed price. Pepco will retain a property interest and will continue to own and operate an electrical substation at the site. PRGS was decommissioned in 2012.

November 18, 2020

California Development Mixed-Use Top Stories Western

San Diego City Council Approves 200-Acre Riverwalk Mixed-Use Project

by Kristin Harlow November 18, 2020

SAN DIEGO — The San Diego City Council has unanimously approved the 200-acre Riverwalk San Diego mixed-use project. Developer Hines plans to transform the existing Riverwalk golf course in western Mission Valley into a transit-oriented development. Project costs are estimated at $3 billion, according to The San Diego Union-Tribune. A new San Diego Metropolitan Transit System Green Line trolley stop and town square will anchor the project. Hines expects to break ground in the second half of 2021. Of Riverwalk’s 4,300 multifamily units, 10 percent will be designated as income-qualified affordable housing. Floor plans will range from studios to three-bedroom units. The project will feature 1 million square feet of office space and 152,000 square feet of retail space. Nearly 100 acres will be dedicated to open space and a regional park. Hines will also restore the stretch of the San Diego River that runs through Riverwalk. Plans call for bike and walking paths as well as an extension of the San Diego River Trail. “Riverwalk is an opportunity to provide something really special for San Diego,” says Eric Hepfer, managing director with Hines. “Our vision from the beginning was to create a village where people would have the option …

November 18, 2020

Development Mixed-Use North Carolina Southeast

Hines, Columbia Development Begin Construction on Fenton in Raleigh-Durham

by Alex Tostado November 17, 2020

CARY, N.C. — Hines and Columbia Development have broken ground on Fenton, a 69-acre mixed-use project in Cary that is expected to be complete in spring 2022. In addition to the groundbreaking, the developers also announced that Arhaus has preleased 17,974 square feet at Fenton. The retail portion is now 73 percent preleased and includes other retailers such as Wegmans, CMX CineBistro, Sephora, Free People and Bailey’s Fine Jewelry. Fenton is located at the intersection of Interstate 40 and Cary Towne Boulevard, three miles from downtown Cary and eight miles southwest of downtown Raleigh. At full buildout, the property will include approximately 345,000 square feet of retail and entertainment space, 170,000 square feet of office space, The Canopy at Fenton and a 175-room boutique hotel.

November 17, 2020

California Development Mixed-Use Video Webinar Western

Webinar: San Diego Mixed-Use Outlook — Planning and Developing Mixed-Use Projects in the San Diego Market

by Sarah Daniels November 16, 2020

The “San Diego Mixed-Use Outlook — Planning and Developing Mixed-Use Projects in the San Diego Market” webinar, hosted by Western Real Estate Business, brings together industry leaders to discuss how mixed-use has become one of the most active property types throughout the market, spurring new developments and the redevelopment of existing properties — and how COVID-19 is impacting the sector. In this three-part presentation, there will be an in-depth discussion of plans for Horton Plaza, an analysis from developers & owners and, finally, a discourse from mixed-use partners. Horton Plaza Update Panelists: Greg Williams, Stockdale Capital Partners Sean Slater, RDC Developers & Owners Panel: Mike Mahoney, Ryan Companies Gary London, London Moeder Advisors Tony Pauker, Brookfield Residential Jason Wood, Cisterra Development Nicole Williams, Ware Malcomb Mixed-Use Partners: Darin Schoolmeester, KTGY Architecture + Planning Scott Hall, JLL Carrie Bobb, Carrie Bobb & Co. Ryan Grant, CBRE Penny Maus, Port of San Diego Webinar sponsors: Port of San Diego: The Port of San Diego is an innovative champion for the 34 miles of San Diego Bay waterfront along Chula Vista, Coronado, Imperial Beach, National City and San Diego. RDC: Founded in 1979, RDC is a full-service, award-winning firm dedicated to making everyday places extraordinary. …

November 16, 2020

California Development Mixed-Use Multifamily Office Restaurant Retail Western

San Diego City Council Approves $1.4B Transformation of Tailgate Park Outside Padres Stadium

by Amy Works November 12, 2020

SAN DIEGO — The San Diego City Council has unanimously approved an exclusive negotiating agreement with the Padres Development Team to negotiate terms for the previously announced acquisition and redevelopment of Tailgate Park into East Village Quarter. The site is located outside Petco Park, which Major League Baseball’s San Diego Padres call home. The Padres Development Team, including the San Diego Padres, Tishman Speyer and Ascendant Capital Partners, was selected during a public request for proposals process. The development team’s vision for East Village Quarter includes residential space, 50,000 square feet of neighborhood-serving retail, 236,000 square feet of public spaces, 1.4 million square feet of office space targeted to technology and biotechnology companies, and 1,600 parking spaces. According to media reports, the development will cost $1.4 billion. “We are excited to take another step forward to revitalize Tailgate Park and further transform the Ballpark District and downtown San Diego,” says Erik Greupner, president of business operations for the San Diego Padres. “We look forward to finalizing a deal with the City of San Diego that will result in the creation of a vibrant, inclusive, mixed-use district in East Village.”

November 12, 2020

Development Mixed-Use Texas

Reports: Hunt Realty Unveils Plans for 3.7 MSF Mixed-Use Project in Uptown Dallas

by Taylor Williams November 11, 2020

DALLAS — Locally based developer Hunt Realty Investments has unveiled plans for a 3.7 million-square-foot mixed-use development in Uptown Dallas, according to reports from multiple news outlets including the Dallas Business Journal and constructionreviewonline.com. According to the latter outlet, the project will be developed on an 11-acre tract between North Field and North Houston streets that currently houses Hunt Realty’s Northend Apartments. The project will include commercial and residential uses, as well as a 1.5-acre park and an urban arboretum. A construction timeline is still being finalized, according to the media outlets.

November 11, 2020

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