Mixed-Use

Cardente Arranges $5.4M Sale of Waterfront Mixed-Use Property in Maine

by David Cohen June 27, 2018

YARMOUTH, MAINE — Cardente Real Estate has arranged the $5.4 million sale of Lower Falls Landing, a 40,931-square-foot office and retail building in Yarmouth. The five-acre property also includes a 7,800-square-foot restaurant and 26 boat slips. Cardente represented the seller, Lower Falls Landing Associates, in the transaction. Jennifer Yilmaz of Applewood Realty represented the buyer, SEKA Properties. Originally constructed as a cannery, the owners redeveloped the property into office space with ground-floor retail.

June 27, 2018

Acquisitions Massachusetts Mixed-Use Northeast

Marcus & Millichap Brokers $2M Sale of Mixed-Use Portfolio in Central Massachusetts

by David Cohen June 27, 2018

WEBSTER, MASS. — Marcus & Millichap has brokered the $2 million sale of Main Street Properties, a 51,982-square-foot mixed-use portfolio located at 118 and 275 Main St. in Webster. The town is located in central Massachusetts on the Connecticut border. Matthew Pierce of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was a private investor. The properties include 31 apartments and nine retail units.

June 27, 2018

Development Healthcare Mixed-Use Texas

Mesquite City Council Approves $250M Medical, Mixed-Use Campus

by Taylor Williams June 27, 2018

MESQUITE, TEXAS — The City Council of Mesquite, an eastern suburb of Dallas, has approved the development of The Verde Center at Peachtree, a $250 million medical campus and mixed-use development. Minneapolis-based Ryan Cos. USA Inc., along with several partners, will develop the 60-acre project, the first phase of which will deliver 600,000 square feet of medical inpatient, outpatient and office space. Later phases will feature a 25-acre amenity center with walking trails and a fitness center. Other elements of the project will include a hotel and conference center and a senior living community. Construction of Phase I is expected to commence by mid-2019.

June 27, 2018

Development Illinois Midwest Mixed-Use

Fifield, Terraco Begin Development of Logan’s Crossing Mixed-Use Project in Chicago

by Kristin Harlow June 26, 2018

CHICAGO — Fifield Realty Corp. and Terraco Real Estate have begun development of Logan’s Crossing, a mixed-use project in Chicago’s Logan Square neighborhood. Located at 2500 N. Milwaukee Ave., the development will include 220 apartment units and 62,000 square feet of retail space, including a 27,000-square-foot Target store. The property will span two buildings connected by a sky bridge. Amenities for apartment residents will include a sun terrace, pool, dog run, bocce ball court, fitness center, coffee bar and conference center. The project is being constructed on the site of the former Mega Mall indoor flea market, which was demolished in January 2017. Move-ins are slated for November 2019, with Target’s opening expected in summer 2020. Antunovich Associates is the project architect and Focus Construction is the general contractor.

June 26, 2018

Acquisitions Illinois Midwest Mixed-Use

Interra Arranges $16.5M Sale of Adjacent Mixed-Use Buildings in Chicago

by Kristin Harlow June 25, 2018

CHICAGO — Interra Realty has arranged the sale of two adjacent mixed-use buildings in Chicago’s Edgewater neighborhood for $16.5 million. Located on North Broadway Avenue, a 95,000-square-foot building is comprised of 42 apartment units and two street-level retail spaces, one of which is leased to a daycare center. The asset sold for $15.8 million. An adjacent mixed-use building includes two apartment units and 1,800 square feet of ground-floor retail space. The asset sold for $745,000. A private buyer purchased both of the properties. The seller was not disclosed. Craig Martin and Brian DiBasilio of Interra represented both parties in the sale.

June 25, 2018

Loans Mixed-Use New York Northeast

Madison Realty Capital Provides $55M Construction Loan for Mixed-Use Development in Brooklyn

by David Cohen June 22, 2018

NEW YORK CITY — Madison Realty Capital has provided a $55 million construction loan for a mixed-use development underway at 948 Myrtle Ave. in Brooklyn. The loan will be used to complete construction of the project and to refinance existing debt, as well as cover any additional costs associated with the transaction. Meridian Capital previously provided a $15 million bridge loan to the borrower, an experienced local builder, for the project in late 2017. The developer plans to construct a three-building, 214,487-square-foot mixed-use project on the site that will feature rental and condominium units as well as ground-floor retail and parking. The developer acquired the site in December 2014 and has now completed all demolition, site excavation and foundation work. The project is slated for completion in 2020.

June 22, 2018

Development Midwest Mixed-Use Nebraska

Darland Begins Construction of Pinnacle Bank-Anchored Property in Omaha

by Kristin Harlow June 22, 2018

OMAHA, NEB. — Darland Construction Co. has broken ground on a new mixed-use development anchored by Pinnacle Bank in Omaha. Located at the northeast corner of 84th Street and West Dodge Road, the 16,600-square-foot building will feature a 7,500-square-foot main level with a retail bank branch and space for one additional tenant. A 9,000-square-foot second level will feature office space. The new bank will replace Pinnacle’s existing location at the southwest corner of the same intersection. Completion is slated for spring 2019. Avant Architects is the project architect.

June 22, 2018

Acquisitions Mixed-Use New York Northeast

Meridian Capital Arranges $68M in Acquisition Financing for Mixed-Use Building in Brooklyn

by David Cohen June 20, 2018

NEW YORK CITY — Meridian Capital Group has arranged $68 million in acquisition financing for a 12-story mixed-use building in Brooklyn. Drew Anderman, Grant Carlson and Josh Berman of Meridian represented the borrower, Trinity Place Holdings, in the transaction. The 24-month loan, which an undisclosed lender provided, features a floating rate of 3.72 percent over the 30-day LIBOR and full-term interest-only payments. Located at 237 11th St. in the Park Slope neighborhood of Brooklyn, the newly built property contains 105 residential units and 6,200 square feet of retail space, which is partially leased to Starbucks. Amenities include washers and dryers in all units, tenant-controlled HVAC systems, a doorman, rooftop terrace, fitness center and parking garage.

June 20, 2018

Development Mixed-Use Texas

Tannos Breaks Ground on $10M Mixed-Use Building in Friendswood, Texas

by Taylor Williams June 19, 2018

FRIENDSWOOD, TEXAS — Tannos Land Holdings III, an affiliate of Tannos Construction & Development LLC, has broken ground on a $10 million mixed-use building in Friendswood, a southeastern suburb of Houston. The four-story building will total 63,400 square feet of retail, restaurant and office space. The project is expected to be complete by early 2019.

June 19, 2018

Loans Mixed-Use New York Northeast

JLL Arranges $251M in Acquisition, Development Financing for Condominium Project in Hell’s Kitchen

by David Cohen June 18, 2018

NEW YORK CITY — JLL has arranged $251 million in equity and debt for CBSK Ironstate for the acquisition and development of 646 11th Ave., a condominium development planned for the Hell’s Kitchen neighborhood of Manhattan. JLL raised $70 million in equity from an institutional investor and secured $181 million in construction financing from Deutsche Bank AG. The 12-story condominium development will feature 161,000 net sellable residential square feet, 40,000 rentable square feet of pre-sold retail space, 8,000 square feet of residential amenity space and 60 for-sale storage units.

June 18, 2018

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