Mixed-Use

Williams-Sonoma, Pottery Barn to Join Town Center of Virginia Beach

by Camren Skelton October 27, 2017

VIRGINIA BEACH, VA. — Williams-Sonoma and Pottery Barn have inked leases at the Town Center of Virginia Beach, a multi-phase mixed-use development in Virginia Beach. The homeware and home furnishings retailers will occupy a combined 18,000 square feet as part of the project’s sixth phase of development. A public-private partnership between the City of Virginia Beach and Virginia Beach-based Armada Hoffler Properties, Town Center is an ongoing development that started in 2000. The project spans 17 city blocks and features retail, dining, office space, residential units, hotels and entertainment venues. The two new retailers will be part of the latest addition to Town Center, which will include 39,000 square feet of retail and restaurant space, a 300-seat performing arts theater, an open-air public plaza and a pedestrian bridge. Williams-Sonoma and Pottery Barn are expected to open in spring 2018. Divaris Real Estate is handling retail leasing for Town Center, and S.L. Nusbaum is managing the project’s residential component.

October 27, 2017

Mixed-Use North Carolina Southeast

CBRE Brokers $6.3M Sale of Mixed-Use Center in Southeast Charlotte

by Camren Skelton October 26, 2017

CHARLOTTE, N.C. — CBRE has arranged the $6.3 million sale of Monroe Business Park, a five-building, 54,200-square-foot mixed-use center in southeast Charlotte’s Oakhurst neighborhood. Matt Smith, Patrick Gildea and Grayson Hawkins of CBRE represented the seller, Nova Capital Partners, in the transaction. An investment group affiliated with Waters Inc. purchased the asset. At the time of sale, Monroe Business Park’s tenant roster included PPG Paints, IronTribe Fitness and Common Market.

October 26, 2017

Midwest Missouri Mixed-Use

Cullinan Properties Unveils Plans for Second Phase of Streets of St. Charles in Missouri

by Kristin Harlow October 24, 2017

ST. CHARLES, MO. — Cullinan Properties Ltd. has unveiled plans for the next phase of construction at Streets of St. Charles, which is located about 25 miles northwest of St. Louis. Phase II will include a 60,000-square-foot, three-story building designed to accommodate more retail and office tenants. Construction is slated to begin in spring 2018. The building, located at the northeast corner of Beale and Lombard streets, will incorporate 20,000 square feet of ground-floor retail space and 40,000 square feet of office space. Cullinan Properties will handle leasing efforts for the retail space, while Balke Brown Transwestern will market the office space. Streets of St. Charles, which opened in 2012, features tenants such as Prasino, Tucanos Brazilian Grill, Firebirds Wood Fired Grill, Leopard Boutique, Olivino Tasting Bar and Sole & Blues.

October 24, 2017

California Mixed-Use Western

World Oil, Trammell Crow Plan 260-Acre Mixed-Use Development in Bakersfield

by Nellie Day October 20, 2017

BAKERSFIELD, CALIF. — World Oil Corp. and Trammell Crow Co. have unveiled plans for Bakersfield Commons, a pedestrian-orientated, master-planned mixed-use community located in Bakersfield. The 260-acre project will feature office, retail, residential, recreational and industrial space. Construction is slated to begin in 2018, with the first development pads delivered in late 2018. The fully approved entitlements for the commons include 400,000 square feet of office, 300,000 square feet of retail, 280,000 square feet of light industrial, more than 1,000 residential units and a 200-bed hospital. Slated for delivery in 2019, Phase I will feature 220,000 square feet of retail, 120,000 square feet of Class A office space, 325 resort-style residential units, a 130-key national branded hotel and 2.2 miles of walking paths.

October 20, 2017

Illinois Midwest Mixed-Use Top Stories

University of Illinois to Develop $1.2B Innovation Center in Downtown Chicago

by Kristin Harlow October 20, 2017

CHICAGO — The University of Illinois has unveiled plans to develop an interdisciplinary public-private research and innovation center known as the Discovery Partners Institute (DPI) in Chicago. The $1.2 billion project will be situated at The 78, a mixed-use development by Related Midwest. DPI will be developed on a donated portion of the 62-acre site bordered by Roosevelt Road, Clark Street, 16th Street and the Chicago River. The facility is the first step in the development of the Illinois Innovation Network (IIN), which will join businesses, public sector partners and research universities to focus on the study of computing and big data, food and agriculture and health and wellness. Led by the University of Illinois system, with its campuses in Champaign, Springfield and Chicago, DPI will bring together students, faculty and businesses. DPI will be operated through private donations, government support and partnerships with industry business. The size of the institute’s site at The 78 is still to be determined. A timetable for the opening is slated to be complete next year. At full operation, DPI is expected to have as many as 90 faculty members — sourced from the University of Illinois system’s three universities as well as partner …

October 20, 2017

Georgia Mixed-Use Restaurant Retail Southeast

Local Brewery to Open at Planned Mixed-Use Development in Metro Atlanta

by Camren Skelton October 19, 2017

FORSYTH COUNTY, GA. — RocaPoint Partners and The Georgetown Co. have unveiled plans to open Cherry Street Brewing at Halcyon, a 150-acre mixed-use project under development in south Forsyth County. The Cumming, Ga.-based brewery will open an 8,000-square-foot brewpub and beer garden in the center of Halcyon’s restaurant village. The brewpub will have a seasonal food menu and 16 Cherry Street beers on tap, as well as a new Halcyon-specific brew. The beer garden will feature communal tables, bar space and a stage for special events. Nick Tanner, Cherry Street owner and brewmaster, will own and operate the new brewpub alongside his sister, Alisa Tanner. Halcyon is slated to open in 2018. Upon completion, the development will feature more than 480,000 square feet of office and retail space, a movie theater, two hotels and 690 residential and seniors housing units.

October 19, 2017

Mixed-Use Texas

Hoque Global, KDC to Develop 20-Acre Mixed-Use Project in Downtown Dallas

by Taylor Williams October 19, 2017

DALLAS — Hoque Global and KDC will develop Dallas Smart District, a 20-acre mixed-use property that will be located adjacent to Dallas City Hall in downtown Dallas. Phase I of the project will deliver between 600,000 and 1 million square feet of Class A office space, a location for an undetermined grocery tenant, a food hall, boutique hotel with residences and parks and green spaces with bike paths and recreational areas. Hoque Global is directing the retail, residential and hospitality elements of the project, and KDC is developing the office component. Pelli Parke Pelli Architects is designing the property. Work on the project is expected to begin in late 2018.

October 19, 2017

Midwest Minnesota Mixed-Use Top Stories

Kraus-Anderson to Break Ground on $100M Mixed-Use Project in Downtown Minneapolis

by John Nelson October 19, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co., a general contractor based in Minneapolis, plans to break ground this coming Monday, Oct. 23 on Ironclad, a $100 million mixed-use development in downtown Minneapolis. The site, currently a parking lot, is located within the historic Mills District near U.S. Bank Stadium, the newly opened home of the Minnesota Vikings NFL team. Designed by St. Paul-based Collage Architects, Ironclad will include a 14-story, 172-unit apartment building and an eight-story, 139-room, Moxy-branded hotel. The plans also call for a 3,300-square-foot restaurant; 10,000 square feet of retail space on the first floor of the hotel; and a four-story, 65,318-square-foot underground parking garage with room for 411 cars. The apartments will feature private outdoor terraces, a sky lounge and a large amenity deck with green space. The property will also feature a swimming pool, hot tubs, fire pits, cloister garden and insider amenities including electric vehicle charging stations, bike repair facility and rider lounge, sauna, theater and media center, pool table and gaming and an on-site property manager. Ironclad is owned by 811 Washington LLC, a wholly owned entity controlled by the Kharbanda family, which owns and operates multiple properties in downtown Minneapolis. The developer of the hotel …

October 19, 2017

Midwest Mixed-Use Ohio

Woda Group to Convert Historic Building Into $16.7M Mixed-Use Development in Lima, Ohio

by Kristin Harlow October 18, 2017

LIMA, OHIO — The Woda Group Inc., in partnership with the city of Lima, has unveiled plans to convert the historic Lima Trust Co. building into 43 Towne Square, a $16.7 million mixed-use development featuring housing and office space. Built in 1926, the former First National Bank & Trust building is listed on the National Register of Historic Places. The 12-story building will be converted into 47 apartment units, 37 of which will be designated as affordable housing. The property will also feature 9,000 square feet of first-floor office space. Completion is slated for early 2019. Financing for the project is made possible through federal and state historic tax credits as well as the Low-Income Housing Tax Credits (LIHTC) program. The Ohio Housing Finance Agency provided a $1.5 million bridge loan and RiverHills Bank provided a $1.7 million permanent loan. CREA LLC is investing in the LIHTC program and federal historic tax credits.

October 18, 2017

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Arranges $12.7M Sale of Mixed-Use Property in Manhattan

by Amy Works October 13, 2017

NEW YORK CITY — Eastern Consolidated has brokered the sale of a six-story mixed-use building located at 331 E. 81st St. on Manhattan’s Upper East Side. A private investor acquired the building for $12.7 million, or $1,202 per square foot. The 10,606-square-foot property features 14 residential apartments and one retail space, which is leased to Bar Prima. Jeremy Simon and Ronda Rogovin of Eastern Consolidated represented the seller, a real estate investment firm, while Simon also procured the buyer in the deal.

October 13, 2017

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