Mixed-Use

The-Seven-Hills-Resort-and-Conference-Center

City Council Approves $78M Mixed-Use Project in Fredericksburg, Texas

by Taylor Williams August 3, 2018

FREDERICKSBURG, TEXAS — The City Council of Fredericksburg, a city located about 80 miles west of Austin, has approved a proposal to develop a $78 million mixed-use project. Branded The Seven Hills Resort and Conference Center, the property will feature a 150-room hotel, 40,000-square-foot retail and restaurant village, 35,000-square-foot conference center and an outdoor amphitheater. According to The Houston Chronicle, the project is being developed by Houston-based Murphree & Co. and Dallas-based The Beck Group, and is expected to open in early 2020.

August 3, 2018

Acquisitions District of Columbia Mixed-Use Southeast

HFF Brokers $415M Sale of Riverfront Mixed-Use Project in D.C.’s Georgetown District

by Camren Skelton August 1, 2018

WASHINGTON, D.C. — HFF has brokered the $415 million sale of Washington Harbour, a 562,105-square-foot mixed-use project located along the Potomac River in Washington, D.C.’s Georgetown submarket. Stephen Conley, Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker of HFF represented the seller, Principal Real Estate Investors (PREI), on behalf of a consortium of South Korean-based investors. Simone Investment and Hana Alternative Asset Management acted as the managing members of the consortium. Eyal Ofer’s Global Holdings Group, an international alliance of real estate asset management and investment advisory companies, purchased the asset. Designed by Arthur Cotton Moore, Washington Harbour comprises two freestanding, Class A towers. The property underwent a $50 million renovation in 2013 that delivered new retail and street-level experiences, including a fountain with programmable light and water shows in the spring and summer that transforms into a 12,000-square-foot ice skating rink in the fall and winter months. The project was 98 percent leased at the time of sale to 31 tenants including Foley & Lardner, Kelley Drye & Warren, advertising firm GMMB Inc., and retail tenants such as Fiola Mare, Farmers Fishers Bakers, Bangkok Joe’s, Sequoia, Tony & Joe’s Seafood Place and Nick’s Riverside Grill.

August 1, 2018

Acquisitions California Mixed-Use Multifamily Office Retail Western

Asana Partners Purchases Mixed-Use Portfolio in Los Angeles for $23.2M

by Amy Works August 1, 2018

LOS ANGELES — Charlotte, N.C.-based Asana Partners has purchased The Fig Collection @ Highland Park, a three-property mixed-use portfolio in Los Angeles’ Highland Park submarket. Engine Real Estate, a Los Angeles-based private investor, sold the asset for $23.2 million. The portfolio includes: A two-building multifamily and retail property located at 5900 N. Figueroa St. and 111 S. Avenue 59. The property at 5900 N. Figueroa St. includes 12 studio and one-bedroom apartment units and 11,305 square feet of ground-floor retail space, which is 86 percent leased. Mr. Holmes Bakehouse occupies the 4,167-square-foot building located at 111 S. Avenue 59. A single-story, 2,250-square-foot building located at 5711 N. Figueroa St. The property is fully occupied by Sonomama, a high-end gift and apothecary shop; and Afters Ice Cream, an ice cream shop with outposts across Southern California. A two-story, 22,500-square-foot property, located at 5715-5717 N. Figueroa St. Recently renovated, the property features retail and commercial office space, which is fully occupied. Tenants include LemonTree, an audio production facility and recording studio; Blind Barber, a barber shop with a speakeasy bar; Chops Market, a deli; Otono Restaurant; Pacific Union, a luxury residential real estate brokerage firm; and Arrive Enterprises. Dana Brody of JLL …

August 1, 2018

Development Georgia Mixed-Use Southeast

Gateway Ventures, Atlantic Capital to Develop $150M Mixed-Use Project in Atlanta’s West Midtown District

by Camren Skelton July 31, 2018

ATLANTA — Gateway Ventures and Atlantic Capital Partners have unveiled plans to develop 8West, a mixed-use project located at the corner of Howell Mill Road and 8th Street in Atlanta’s West Midtown district. The project will include 175,000 square feet of office space, 10,000 square feet of retail developed in collaboration with Cartel Properties, 264 apartment units developed by Trammell Crow Residential and a 680-space parking garage. Existing retailers fronting 8West will be integrated into the project, including Bocado, Bartaco, Arden’s Garden and A Ma Maniere. In addition, the project will feature a 4,000-square-foot, west-facing art wall. The project developers will partner with Hathaway Gallery to engage local artists through an outreach program for both public art and building artwork. The nine-story development will feature outdoor terraces with 360-degree views of the city, a fitness center, bike storage, common collaborative spaces and conference facilities, an outdoor public plaza and podcast recording rooms. Harvest Capital Group and Ellis, McQuary & Stanley are the project’s equity investors. BL Harbert International is the general contractor, and MSTSD and ASD/Sky are the architects. Stephen Clifton and Zach Wooten of PMRG are handling the project’s leasing assignment. Gateway and Atlantic Capital expect to wrap up …

July 31, 2018

Acquisitions Mixed-Use Multifamily Office Oregon Retail Western

Greystar Acquires Mixed-Use Property in Portland’s West End

by Amy Works July 31, 2018

PORTLAND, ORE. — Greystar Real Estate Partners, on behalf of its real estate funds, has purchased Indigo at Twelve West, a mixed-use property located at 430 SW 13th Ave. in Portland. The price was not disclosed Situated in the city’s West End submarket, the property features 273 residential apartments, 86,000 square feet of creative office space and a 10,000-square-foot retail component. The office and retail components are fully leased. Completed to LEED Platinum standards in 2009, the property features all-glass façade with floor-to-ceiling windows, 10-foot to 12-foot ceilings, gas appliances and city views.

July 31, 2018

Development Georgia Loans Maryland Mixed-Use Southeast Top Stories

Armada Hoffler Announces Two Mixed-Use Developments in Baltimore, Atlanta

by John Nelson July 31, 2018

BALTIMORE AND ATLANTA — Armada Hoffler Properties Inc. (NYSE: AHH), a commercial real estate developer and investor based in Virginia Beach, is participating in two new mixed-use projects in Baltimore and Atlanta. The REIT’s wholly owned subsidiary, Armada Hoffler Construction Co., will serve as general contractor for both developments. In Baltimore’s Inner Harbor East district, Armada Hoffler is developing Wills Wharf, a 12-story mixed-use building that will anchor the 27-acre Harbor Point development. Armada Hoffler co-developed the other components of Harbor Point with Beatty Development Group, including the 500,000-square-foot Exelon mixed-use tower, the 260,000-square-foot Thames Street Wharf office building and Point Street Apartments. Situated on the waterfront of the Inner Harbor, the $117 million Wills Wharf project will span 325,000 square feet of office and retail space and will feature a 156-room Canopy by Hilton hotel on the top four floors. Armada Hoffler expects to deliver the building in the first quarter of 2020. “Wills Wharf represents the latest evolution of a relationship with the principals of Beatty Development Group that has spanned over two decades,” says Louis Haddad, president and CEO of Armada Hoffler Properties. “We are excited to continue our relationship with Beatty Development Group in leading Baltimore’s …

July 31, 2018

Development Industrial Mixed-Use Texas

Hines Buys Land in Northwest Houston, Plans 1.5 MSF Mixed-Use Development

by John Nelson July 30, 2018

HOUSTON — Hines has purchased 107 acres in northwest Houston from Maxaam Inc. with plans to build a new 1.5 million-square-foot mixed-use development. Houston-based Hines is currently completing design for the two-phase logistics park, now branded as Grand National Business Park. Situated at the corner of Sam Houston Tollway and Gessner Road near the Sam Houston Race Park, the project will include a logistics center, hotel and retail space. Phase I will consist of 500,000 square feet of logistics space. Jim Foreman and Allison Bergman of Cushman & Wakefield are leasing the project on behalf of Hines. No construction timeline or costs were disclosed.

July 30, 2018

Acquisitions Mixed-Use New Jersey Northeast

Marcus & Millichap Brokers $1.9M Sale of Mixed-Use Building in Bayonne, New Jersey

by David Cohen July 30, 2018

BAYONNE, N.J. — Marcus & Millichap has brokered the sale of a mixed-use building in Bayonne for $1.9 million. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller, a private owner, in the transaction. The buyer was undisclosed. Located at 554-556 Broadway, the building contains 10,260 square feet of ground-floor retail space and 7,510 square feet of second-floor office space. The new owner plans to redevelop the property into a four-story mixed-use building.

July 30, 2018

Development Georgia Loans Mixed-Use Multifamily Southeast

Allen Morris Receives $90M Loan for Residential Component of Mixed-Use Project in Atlanta’s West Midtown District

by Camren Skelton July 30, 2018

ATLANTA — The Allen Morris Co. has received a $90 million construction loan for Star Metals Residences, the residential component of Star Metals Atlanta, the company’s planned mixed-use community in Atlanta’s West Midtown district. Square Mile Capital Management LLC and Pacific Western Bank provided the loan for the 409-unit community, which will also feature 16,300 square feet of ground-floor retail. Located at 1050 Howell Mill Road, Star Metals Residences will feature a private outdoor dog run, interior dog wash area, Uber drop-off room for residents, package delivery to the resident’s door and a library with fireplace. The rooftop area will feature lounge/meeting rooms; a bar and lounge; game room area with a pool table; gaming systems and arcade games; outdoor ping-pong and bocce ball; a glass-box fitness center; swimming pool; grilling area; movie projection area and fire pits. At full build-out, Star Metals Atlanta will also include a 14-story office tower with 35,000 square feet of retail and restaurants. Construction has begun on the residential portion of the project, which is scheduled for a spring 2020 completion. Oppenheim Architecture, Dwell Design Studio and Square Feet Studio are designing the community, and Juneau Construction is the general contractor. Brasfield & Gorrie …

July 30, 2018

District of Columbia Leasing Activity Mixed-Use Office Southeast

Madison Marquette Relocates 26,000 SF Headquarters to The Wharf Mixed-Use Project in D.C.

by Camren Skelton July 30, 2018

WASHINGTON, D.C. — The recently merged operation of Madison Marquette and PMRG has moved its headquarters to 1000 Maine, the trophy office building of The Wharf. Madison Marquette, which is co-developing the 2.2 million-square-foot, waterfront mixed-use project, merged operations with PMRG in June. The combined company will occupy 26,000 square feet at 1000 Maine, which features a soaring lobby and waterside atrium, fitness facility overlooking the water and a 10,000-square-foot rooftop conference center and patio space with views of the Potomac River. Capital Guidance, parent company of Madison Marquette and PMRG, will share the new space for its global headquarters. Additional tenants at 1000 Maine include the D.C. office of Fish & Richardson, Washington Gas and its parent energy company WGL, Socially Determined and the law offices of Michael Best & Friedrich LLP. The office building is part of The Wharf’s first phase of development, which includes a concert hall, three hotels, two multifamily and condominium buildings and 210,000 square feet of restaurants, retail and entertainment space. Phase I of The Wharf opened last October, and Phase II of the project is scheduled to open in 2022.

July 30, 2018

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