Mixed-Use

MPV Properties, Bowman Development to Build Mixed-Use Project in Metro Charlotte

by John Nelson June 13, 2017

HUNTERSVILLE, N.C. — MPV Properties and Bowman Development Group have partnered to develop Vermillion Village, a 30-acre mixed-use development in downtown Huntersville, roughly 15 miles north of Charlotte. Situated off Interstate 77 at North Church Street and Huntersville-Concord Road, the project will feature a 78,000-square-foot supermarket, 18,000 square feet of additional retail shops and 400 residential units. MPV will handle the development of Vermillion Village’s commercial portion, and Bowman will handle the residential component. The developers have committed to provide at least $250,000 for road improvements surrounding the project. The Huntersville Town Board approved plans for Vermillion Village earlier this month, and the land sale is expected to close in July. The estimated timeline for the project is three to five years, and the developers plan to build the retail portion first.

June 13, 2017

Massachusetts Mixed-Use Multifamily Northeast Retail

CBRE/NE Facilitates $17.2M Sale of Restaurant Site for Mixed-Use Development

by Amy Works June 13, 2017

SAUGUS, MASS. — CBRE/New England has arranged the sale of the Hilltop Steak House site on Route 1 in Saugus. High Country Investors sold the property to AvalonBay Communities for $17.2 million. The buyer plans to develop the site into a 280-unit luxury rental apartment community with 25,000 square feet of retail space. Community amenities of the mixed-use property will include a landscaped courtyard, pool, fireplaces, grills, a dog park and a clubhouse with a fitness facility. Simon Butler, Biria St. John and Rob Robledo of CBRE/NE represented the seller and procured the buyer in the transaction.

June 13, 2017

Mixed-Use Texas

Rockspring Capital Sells 1,619 Acres in Metro Houston to Master-Planned Community Developer

by Taylor Williams June 12, 2017

KATY, TEXAS — Rockspring Capital, a Houston-based investment firm, has sold a 1,619-acre tract in Katy located off U.S. Highway 290 and Katy Hockley Road to Johnson Development Corp., a Houston-based developer of master-planned communities. The sales price was not disclosed. Chris Hutcheson, Matthew Herring and James Kadlick of McAlister Real Estate represented Rockspring Capital in the transaction. Dave Ramsey of NewQuest Properties represented Johnson Development.

June 12, 2017

Mixed-Use Southeast Tennessee

Boyle, Northwestern Mutual, Northwood Ravin Break Ground on Capitol View Office Building in Nashville

by John Nelson June 12, 2017

NASHVILLE, TENN. — A joint venture between Boyle Investment Co., Northwestern Mutual and Northwood Ravin has broken ground on the office component of Capitol View, a 32-acre mixed-use development in Nashville’s North Gulch district. HealthStream Inc., a healthcare IT firm, will move its corporate headquarters to 65,000 square feet at the new office building, called Block E. The design team includes Hoar Construction, Barge Waggoneer Sumner & Cannon, Cooper Carry, Kiser Vogrin Design, RPM Transportation, TTL, TVG Environmental, Stansell Electric and Jones Brothers. Once completed, the $750 million Capitol View will feature 1.1 million square feet of office space, 130,000 square feet of retail and restaurant space, 650 multifamily residences, 170 hotel rooms and a 2.5-acre park connected to Nashville’s greenway system. In lieu of a groundbreaking ceremony for Block E, the principals of Capitol View presented a $5,000 check to the Arthur E. Newman Scholarship Fund.

June 12, 2017

Florida Mixed-Use South Carolina Southeast

Partnership to Develop Two Latitude Margaritaville Projects in Daytona Beach, Hilton Head

by John Nelson June 12, 2017

DAYTONA BEACH, FLA. AND HILTON HEAD, S.C. — A partnership between Sutton Properties, Margaritaville Holdings and Minto Communities plans to develop two Latitude Margaritaville projects in Daytona Beach and Hilton Head. Both developments will feature Margaritaville restaurants, an island-inspired food and beverage concept that launched in 1987 in Key West, Fla. The Daytona Beach community is currently under construction with 3,000 residences, and a future proposed expansion of up to 7,000 homes catering to residents 55 years and up. Sutton Properties is preleasing a total of 200,000 square feet of retail space at the entrance to Latitude Margaritaville on LPGA Blvd, just west of Interstate 95. The first phase will include a supermarket, along with retailers and restaurants. At the Hilton Head development, Margaritaville Holdings and Minto have broken ground on more than 3,000 homes on 2,739 acres. Sutton Properties acquired 72 acres for a three-phase, mixed-use development. Phase I will be located on Highway 278 at the community entrance located in Hardeeville, between I-95 and Hilton Head Island. Phase I will include a supermarket and other retail and restaurant tenants, and Phase II includes a hotel opportunity, followed by a mixed-use town center. The first homes at both developments …

June 12, 2017

Mixed-Use Texas

St. Croix to Develop 80,000 SF Mixed-Use Project in Metro Austin

by Taylor Williams June 9, 2017

BEE CAVE, TEXAS — St. Croix Capital Advisors will develop Gateway to Falconhead, an 80,000-square-foot mixed-use asset located on a 14.6-acre tract located at the corner of Ranch to Market Road 620 and Falconhead Boulevard in the Austin metro of Bee Cave. Construction recently began on the six-building project, which will deliver office, medical and retail space. The latter is 70 percent preleased to tenants such as Westbank Dry Cleaners and Epic Nails. Southstar Bank provided financing for the property, which is expected to be ready for occupancy in the fourth quarter.

June 9, 2017

Loans Mixed-Use Multifamily Northeast Pennsylvania Retail

Colliers Arranges $4.1M Loan for Mixed-Use Property in Philadelphia

by Amy Works June 8, 2017

PHILADELPHIA — Colliers International has arranged a $4.1 million in refinancing for a mixed-use property located at 2231 Bryn Mawr Ave. in Philadelphia. The building features 12 apartments and 13,000 square feet of commercial space. The loan features a five-year fixed rate with a five-year reset. Kris Wood, John Banas, Chad Levitt, Tim Hoyt, Martin Duval and Jordan Canino of Colliers International secured the financing for the undisclosed borrower.

June 8, 2017

Mixed-Use Top Stories Washington Western

Gramor Secures Construction Financing for Phase I Component of $1.5B Waterfront Vancouver Project

by John Nelson June 8, 2017

VANCOUVER, WASH. — Gramor Development Inc., a privately held firm based in Oregon, has secured a round of construction financing for Phase I of its $1.5 billion mixed-use project along the Columbia River in Vancouver. Known as The Waterfront Vancouver, the project will span 20 city blocks and 32 acres and feature residential, office, retail and restaurant space, as well as a Hotel Indigo. U.S. Bank provided a $42.5 million construction loan to Gramor Development for Block 6 Office and Block 6 Residential — a seven-story office building and a six-story, 63-unit apartment building. The street level of both assets will house the Shops at Waterfront Way, which will include retail and restaurants. Committed tenants include M.J. Murdock Charitable Trust at Block 6 Office and Cascade Sotheby’s International Realty and MidiCi The Neapolitan Pizza Co. at Block 6 Residential. The project team for Block 6 includes architect Ankrom Moison and general contractor Robertson & Olson. “Gramor is a driving force in revitalizing Vancouver’s waterfront and the local community,” says Ann Young, senior vice president, and Oregon market manager of U.S. Bank. “U.S. Bank is excited to be part of the project and to help bring this vibrant and unique development …

June 8, 2017

Mixed-Use North Carolina Southeast

CBRE Brokers $28.3M Sale of Mixed-Use Development in Historic Asheville

by John Nelson June 7, 2017

ASHEVILLE, N.C. — CBRE has arranged the $28.3 million sale of Pack Square, a 137,592-square-foot mixed-use development located in Asheville’s historic district. Wicker Park Capital Management purchased the five-building project from Southeastern Development. Pack Square was 82.4 percent leased at the time of sale to tenants such as Rhubarb, Posana Café, Bomba!, Novus Architects, French Broad Chocolate Lounge and Edgewater Media Group Inc. Patrick Gildea, Mike Burkard, Steve Shields and Matt Smith of CBRE represented Southeastern Development in the sale.

June 7, 2017

Loans Mixed-Use Multifamily New York Northeast Retail

Ready Capital Closes $3.6M Loan for Mixed-Use Asset in Tribeca

by Amy Works June 7, 2017

NEW YORK CITY — Ready Capital Structured Finance has closed on a $3.6 million loan for a mixed-use property located at One White St. in Tribeca. The undisclosed borrower plans to use the loan to renovate the interior and exterior of the 3,680-square-foot property, which features a three-story residential triplex with roof-top patio and ground-floor retail space. The non-recourse, interest-only loan features a 24-month term, flexible pre-payment and is inclusive of a facility to provide for capital expenditures, leasing commissions and interest and carry reserves.

June 7, 2017

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