Mixed-Use

Optimus Properties Sells Two-Property Mixed-Use Portfolio in California for $11M

by Amy Works March 4, 2020

CARMEL, CALIF. — Optimus Properties has completed the disposition of a two-property portfolio in downtown Carmel. Wheat LLC acquired the mixed-use portfolio for $11 million. The sale consists of the 4,345-square-foot Block 71: Lot 5 building, with ground-floor retail and office space and second-floor residential space, and Block 76: Lot 11, a 2,763-square-foot retail property. Michael Schoeder of Cushman & Wakefield’s Central Coast Operations, in collaboration with Dan Wald and Don LeBuhn of the firm’s Retail Investment Advisors Group in San Francisco, represented the seller in the deal.

March 4, 2020

Development Mixed-Use Texas

RedLeaf, City of Cedar Park Form Partnership to Develop $350M Mixed-Use Project Near Austin

by Taylor Williams March 2, 2020

CEDAR PARK, TEXAS — Locally based developer RedLeaf Properties has entered into a public-private partnership with the City of Cedar Park, located north of Austin, to redevelop an area along Bell Boulevard into a mixed-use destination. The project, which will be branded The Bell District, is expected to have a total price tag of $350 million. The first phase of development is expected to include multiple acres of communal green space integrated with the new public library and restaurants, as well as two blocks of high-density residential buildings with ground-floor retail space. The second phase will feature residential and office development. RedLeaf plans to begin demolishing the existing structures on the site following the completion of the realignment of a section of U.S. Highway 183, a project that is expected to run through 2021.

March 2, 2020

Development Mixed-Use Northeast Pennsylvania

Keystone Tops Out 520,000 SF Mixed-Use Development in Conshohocken, Pennsylvania

by Alex Patton March 2, 2020

CONSHOHOCKEN, PA. — Keystone Property Group has topped out its 520,000-square-foot SORA West mixed-use development in Conshohocken, a northwestern suburb on Philadelphia. The development will include a 13-story, 429,000-square foot office building, which will house the corporate headquarters of AmerisourceBergen. The office building will also include a fitness center, a 16,000-square-foot rooftop terrace and an 80,000-square-foot parking facility. Other components of the development include a 165-room hotel with restaurant space and a 467,000-square-foot parking structure. The Harman Group is serving as structural engineers of the project. Gensler and The DLR Group are serving as the project architects, and Intech Construction Inc. is the general contractor. Keystone expects to complete construction in 2021.

March 2, 2020

Development Florida Mixed-Use Southeast Top Stories

Treo Group Breaks Ground on $125M VOX Miami Mixed-Use Development

by Taylor Williams March 2, 2020

MIAMI — Locally based investment and development firm The Treo Group has broken ground on VOX Miami, a $125 million mixed-use project in South Florida. Treo Group will develop the transit-oriented site, which is located at the corner of U.S. Highway 1 and Sunset Drive, adjacent to the South Miami Metrorail station, in multiple phases. Phase I will feature an eight-story student housing building with 326 beds across 99 units that will serve undergraduate and graduate students at the University of Miami. Amenities will include study lounges, a rooftop terrace, fitness center and a pool. The building is scheduled for completion before the 2021-2022 academic year. The second phase of VOX Miami is a 195,000-square-foot office building. Perkins + Will is designing the Class A property, which will also house ground-floor retail space. A start and completion date for that component has not yet been released. “VOX Miami is designed to fulfill the needs of various community sectors, from University of Miami students to local businesses, while providing convenient accessibility via the Metrorail and bolstering the overall appeal of public transportation,” says Otto Boudet-Murias, Treo Group principal. Treo Group is also developing Regatta Harbour, a 9.5-acre mixed-use project in Miami’s …

March 2, 2020

California Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

R.D. Olson Construction Breaks Ground on Bolsa Row Mixed-Use Project in Westminster, California

by Amy Works February 28, 2020

WESTMINSTER, CALIF. — R.D. Olson Construction has broken ground for the ground-up construction of Bolsa Row, a mixed-use development in Westminster’s Little Saigon District. Situated on a six-acre lot, Bolsa Row will include a 225,000-square-foot apartment complex, retail space, a five-story full-service hotel and a variety of community spaces to create a social hub and cultural landmark. Located at the intersection of Bolsa Avenue and Brookhurst Street, Bolsa Row will serve as the gateway to Little Saigon District — the Vietnamese heart of Orange County — and home to the nation’s largest Vietnamese-American population. The property will feature a 1940s renaissance and French colonial architectural theme, with a replica of the Bến Thành Market clock tower, an iconic landmark of old Vietnam. Bolsa Row will feature a 148-room Wyndham Hotels & Resorts property with 48,000 square feet of banquet space and a 700-stall subterranean parking structure. The five-story multifamily property will comprise 200 units in a mix of studio, one- and two-bedroom layouts and a variety of community amenities, including a courtyard, pool, spa, fitness studio, recreation space, clubhouse and 37,500 square feet of attached retail space. Development partners include the Pham family, IP Westminster LLC, KTGY Architecture + Planning, …

February 28, 2020

Acquisitions Mixed-Use New Jersey Northeast

Lennar, U.S. Home Corp. Acquires Land for $125M Mixed-Use Development in Eatontown, New Jersey

by Alex Patton February 27, 2020

EATONTOWN, N.J. — A partnership between Miami-based homebuilder Lennar Corp. and U.S. Home Corp. has acquired a 73-acre site in Eatontown, located approximately 50 miles south of New York City for the development of a $125 million mixed-use project. The Fort Monmouth Economic Revitalization Authority approved the sale of Parcel B, which is located on a former military installation, on Feb. 24, though the deal is subject to a 10-day veto period. Preliminary plans call for 302 residential units and 150,000 to 250,000 square feet of commercial space. A tentative construction timeline was not released.

February 27, 2020

Acquisitions Colorado Industrial Mixed-Use Multifamily Self-Storage Western

Denver Realty Group Acquires 25-Property Portfolio in Colorado Springs for $22M

by Amy Works February 25, 2020

COLORADO SPRINGS, COLO. — Denver Realty Group, through its DRGinvest platform, has purchased a 25-property portfolio in Colorado Springs for $22 million. The portfolio totals 186 units and includes multifamily, single-family homes and a storage facility. The off-market deal was acquired using a unique, deal-specific loan arranged by NorthMarq’s Denver office and placed with ArrowMark Commercial Real Estate Partners and Arbor Realty SR as lenders. DRG was represented by Zach Hansen of Denver Realty Group and Stuart Sloat of Olive Realty Estate Group as transaction brokers.

February 25, 2020

Development Mixed-Use Texas

De La Vega Development Completes Demolition Work for 27-Acre Mixed-Use Project in Dallas

by Taylor Williams February 24, 2020

DALLAS — Locally based firm De La Vega Development has completed demolition of the former Affiliated Computer Services building at 2828 N. Haskell Ave. in Dallas. The property was temporarily known as The Leaning Tower of Dallas following a failed demolition attempt on Feb. 16 that left part of the building standing at a sharp angle. The site is the future home of The Central, a 27-acre mixed-use development that will feature about 5 million square feet of residential, hospitality, retail, restaurant and entertainment space, as well as a 3.5-acre park. Lloyd D. Nabors Demolition LLC is the contractor that handled the demolition work.

February 24, 2020

Development Massachusetts Mixed-Use Northeast

National Development Unveils Plans for Mixed-Use Project in Boston

by Alex Patton February 24, 2020

BOSTON — Locally based firm National Development has unveiled plans for a mixed-use project at 333 Dorchester Ave. in South Boston, pending approval from the City of Boston. The project will include 256 apartment units, 47,000 square feet of office space, 14,500 square feet of retail space and public green space. The project is part of a larger Dorchester Avenue redevelopment initiative spearheaded by National Development, which includes transformation of industrial buildings including 333 Dorchester Ave. into primarily residential and commercial properties.

February 24, 2020

Development Healthcare Mixed-Use Texas Top Stories

Texas A&M Plans $546M Expansion at Texas Medical Center in Houston

by Alex Patton February 21, 2020

HOUSTON — Texas A&M University has unveiled plans for a $546 million expansion project at Texas Medical Center in Houston. The project will include the $145 million acquisition and renovation of the 18-story Texas A&M Engineering Medicine (EnMed) building at 1020 Holcombe Blvd., as well as $401 million construction of two new towers adjacent to the EnMed structure. The first new building is a 30-story medical tower slated for completion in June 2023. The property will include 72,000 square feet of retail space and 8,700 square feet of green space. The tower will expand the EnMed building’s engineering medicine programs, which include a combination of medical and engineering degrees. The second new building is a 19-story residential tower slated for completion in June 2022. The project will include 704 beds of student housing and a 3,444-space parking garage. Texas A&M College of Medicine students and Prairie View A&M University College of Nursing students will have first priority to occupy the housing, but students from other institutions can also apply. The expansion will be part of Texas Medical Center’s planned 1.5 million-square-foot TMC3 translational research campus. With construction scheduled to begin this year for completion in 2022, TMC3 will include 112,000 …

February 21, 2020

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