Mixed-Use

Buckingham Cos. Opens Residences at Aertson Midtown in Nashville

by Camren Skelton June 22, 2017

NASHVILLE, TENN. — Indianapolis-based Buckingham Cos. has opened the residential portion of Aertson Midtown, a 17-story, 600,000-square-foot mixed-use development located adjacent to Vanderbilt University in Nashville. The Residences at Aertson Midtown is made up of 350 studio, one-, two- and three-bedroom units with rents ranging from $1,800 to $5,500 per month. The property features a rooftop pool, dog park, dog wash station, bike storage, theater, fitness center and 24-hour in-room dining through the on-site Henley restaurant. The community features 35,000 square feet of retail space with tenants including Charleston-based gourmet grocer Caviar & Bananas, Kimpton Aertson Hotel and the Woodhouse Day Spa, which is due for completion this fall.

June 22, 2017

Delaware Mixed-Use Northeast Retail

NFK Arranges $13.5M Sale of Retail/Mixed-Use Development Site in Rehoboth Beach, Delaware

by Amy Works June 21, 2017

REHOBOTH BEACH, DEL. — Newmark Knight Frank (NKF) has brokered the sale of a 10.3-acre development parcel located at the southeast corner of Coastal Highway and Holland Glade Road in Rehoboth Beach. The Corrado Family LLC sold the 448,668-square-foot site to Coastal Station Development Co. for $13.5 million. The buyer plans to redevelop the site, with the first phase featuring a Royal Farms convenience store and Iron Hill Brewery & Restaurant. Mike Margolis, Dave Dolan and Neal Dangello of NKF represented the seller in the transaction.

June 21, 2017

Mixed-Use Southeast Tennessee

AEG to Develop Mixed-Use Entertainment District in Downtown Nashville

by John Nelson June 20, 2017

NASHVILLE, TENN. — AEG plans to develop a mixed-use entertainment district at Southwest Value Partner’s (SWVP) Nashville Yards in downtown Nashville. The Los Angeles-based sports and entertainment venue owner/operator purchased a four-acre parcel of land that will be anchored by a 4,000-capacity music venue, a flagship Regal Cinemas theater complex, a 600- to 700- capacity live entertainment club, an approximately 240-room boutique hotel and other entertainment, food and beverage options. SWVP’s Nashville Yards is a multi-phase office, retail, hospitality, entertainment and residential project that will span the western edge of downtown and stretch from Broadway north past Church Street. The 15-acre site was previously home to the LifeWay Christian Resources campus. The first site in Nashville Yards, a 591-room Hyatt Regency hotel, is expected to open in 2020. The AEG-developed district will be located at 10th Avenue between Commerce and Church streets, with the option to acquire an additional 1.5-acre parcel for further development. The project further expands AEG’s portfolio of entertainment districts, which includes L.A. LIVE in Los Angeles, The O2 in London and Mercedes-Benz Platz in Berlin.

June 20, 2017

Georgia Mixed-Use Southeast

Colliers International Brokers Sale of City Block in Historic Downtown Savannah

by John Nelson June 20, 2017

SAVANNAH, GA. — Colliers International has brokered the sale of a full city block in downtown Savannah, comprising two historic buildings and one shared parking lot located at 114 Barnard St., 104 W. State St. and 109-119 Whitaker St., for an undisclosed price. Ashley Smith, Rhett Mouchet and Tyler Mouchet of Colliers International’s Savannah office represented the undisclosed seller in the transaction. The U.S. Post Office, Roly Poly, Alligator Soul and various office spaces are among the tenants at the 24,139-square-foot Barnard Street building. The LEED Silver-certified Whitaker Street building spans approximately 10,500 square feet and is home to Tequila Town Restaurant, Rocko Lounge and office spaces. Colliers International will handle the leasing and management of the properties.

June 20, 2017

Illinois Midwest Mixed-Use

North Wells Capital Acquires 45,359 SF Mixed-Use Building in Chicago

by Kristin Harlow June 20, 2017

CHICAGO — North Wells Capital, the investment management affiliate of Urban Innovations Ltd., has acquired a 45,359-square-foot mixed-use building and adjacent parking lot in Chicago’s River North neighborhood. The purchase price was not disclosed. Located at 308 W. Erie St., the seven-story building includes 36,859 square feet of office space and 8,500 square feet of retail space. Built in 1937 and renovated in 2015, the building is 100 percent leased to 13 tenants. The parking lot provides space for 38 cars. Urban Innovations will manage and lease the property.

June 20, 2017

Loans Mixed-Use Texas

Whitestone REIT Lands $80M Acquisition Loan for 216,692 SF Mixed-Use Asset in Houston

by Taylor Williams June 20, 2017

HOUSTON — Whitestone REIT has landed an $80 million loan for the acquisition of BLVD Place, a 216,692-square-foot mixed-use asset located at 1700 Post Oak Blvd. in the Galleria area of Houston. Anchored by Whole Foods Market, the property was 99 percent occupied at the time of loan closing to tenants such as Frost Bank, Verizon Wireless and True Food. Matt Kafka and Kelly Layne of HFF arranged the 10-year, fixed-rate loan. Whitestone acquired the property for approximately $158 million from a partnership between San Francisco-based asset management firm Bailiard Inc. and local developer Wulfe & Co.

June 20, 2017

Mixed-Use Office South Carolina Southeast

CBRE Secures $35.5M in Financing for Mixed-Use Developments in Charleston

by Camren Skelton June 19, 2017

CHARLESTON, S.C. — CBRE has arranged $35.5 million in financing for Half Mile North and Pacific Box & Crate, two mixed-use projects on the Charleston peninsula. CBRE’s Jeff Ackemann and Porter McDonald arranged the permanent mortgage through Nationwide Real Estate Investments on behalf of the borrower, Raven Cliff Co. LLC. In 2016, the CBRE team secured a $35 million construction loan to recapitalize the Half Mile North Development and provide construction financing for the Pacific Box & Crate project. Together, the developments encompass 222,113 square feet of office space and chef-driven food options. The projects were 97 percent leased at the time of sale. SIB, Integral Solutions Group, BoomTown!, Phish Labs and Blue Acorn are among the developments’ current tenants.

June 19, 2017

Mixed-Use Texas

De La Vega to Develop 1.4 MSF Mixed-Use Project in Dallas

by Taylor Williams June 19, 2017

DALLAS — De La Vega Development will develop OVERstreet at SEVENTYfive, a 1.4 million-square-foot mixed-use project situated at the corner of North Central Expressway and Haskell Avenue in Dallas. The four-building project will deliver 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower. The project will also include three parking garages totaling 2,770 spaces. De La Vega purchased the 10-acre tract on which the project will be developed, according to The Dallas Morning News.

June 19, 2017

California Mixed-Use Office Retail Western

Faris Lee Arranges $6.6M Sale of Mixed-Use Property in Dana Point

by Nellie Day June 16, 2017

DANA POINT, CALIF. — Faris Lee Investments has arranged the sale of La Plaza Pacifica, a retail and office property located at 34052 La Plaza Drive in Dana Point. Raintree Evergreen LLC acquired the property from Trowbridge Vaughen Vivos Trust for $6.6 million, or $463 per square foot. At the time of sale, the 14,900-square-foot property was 95 percent occupied. Jeff Conover of Faris Lee Investments represented the buyer and seller in the deal.

June 16, 2017

Massachusetts Mixed-Use Northeast Top Stories

Cottonwood Management Breaks Ground on $900M Mixed-Use Development in Boston’s Seaport District

by John Nelson June 15, 2017

BOSTON — Cottonwood Management, a private real estate management and development firm based in Los Angeles, has started construction of Echelon Seaport, a three-tower, $900 million mixed-use development in Boston’s Seaport district. Set to open in phases between 2019 and 2020, the project will feature 733 condominiums and apartments and 125,000 square feet of retail space. The 3.5-acre development is situated at Seaport Boulevard and B Street and directly across from HarborWalk and Boston Harbor, providing miles of walking and bike paths, as well as water taxi access to places like Logan International Airport. The project will also be located one block from the MBTA Silver Line and within walking distance of Boston’s downtown/financial district. Cottonwood unveiled its Echelon lifestyle brand at the groundbreaking ceremony held yesterday. Boston Mayor Martin Walsh, Massachusetts Gov. Charles Baker and James Beard award-winning chef Ming Tsai of the nearby Blue Dragon restaurant attended the event. “Boston’s Seaport is one of the most exciting neighborhoods in the world right now and is the perfect starting place for Cottonwood to establish the Echelon lifestyle brand,” says Alexander Shing, chairman and CEO of Cottonwood Management. “Echelon Seaport will anchor the Seaport community with a new level of …

June 15, 2017

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