Mixed-Use

Third Coast Development, PK Development Group Break Ground on $42M Mixed-Use Project in Grand Rapids, Michigan

by Kristin Harlow January 30, 2017

GRAND RAPIDS, MICH. — Third Coast Development and PK Development Group have broken ground on the $42 million Diamond Place project in Grand Rapids. Diamond Place is a 2.8-acre development that sits on land formerly used by Proos Manufacturing at Michigan Street. The development will offer 165 apartments, consisting of one- and two-bedroom units. Approximately 100 of the units will be designated as income-restricted. Ground-floor retail spaces will also be available. The project is slated for completion in summer 2018. Pioneer Construction is the construction manager and Progressive AE is the architect. Other partners in the project include Michigan Good Food Fund, JPMorgan Chase Bank, Cinnaire, Mercantile Bank, Capital Impact Partners, Michigan Economic Development Corp., Michigan State Housing Development Authority, Opportunity Resource Fund and the City of Grand Rapids.

January 30, 2017

California Mixed-Use Multifamily Retail Western

Marcus & Millichap Brokers $21.2M Sale of Development Site in West Hollywood

by Nellie Day January 27, 2017

WEST HOLLYWOOD, CALIF. — Marcus & Millichap has brokered the sale of a mixed-use development site located at 431 N. La Cienega Blvd. in West Hollywood. A group of local and national developers acquired the 32,574-square-foot site for $21.2 million. At the time of sale, the property was occupied by Royal Car Wash and other local retailers. The property also features multifamily units. Brandon Michaels and Lonnie McDermott of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.

January 27, 2017

Georgia Mixed-Use Southeast Top Stories

Batson-Cook, Regent Partners to Develop $400M Mixed-Use Project in Atlanta’s Buckhead Financial District

by Kristin Harlow January 27, 2017

ATLANTA — Batson-Cook Development Co. (BCDC) has formed a joint venture partnership with Regent Partners LLC to acquire a parcel in the Buckhead financial district of Atlanta and develop a $400 million mixed-use project. The office, retail and multifamily development will be located at 3354 and 3356 Peachtree Road, near State Route 400 and Buckhead’s MARTA train station. The four-acre property will consist of two buildings with more than 550,000 square feet of office and retail space, 60 condominiums and 300 multifamily units. Construction is expected to begin in 2018. The project will feature outlet roads leading to Peachtree Road, Piedmont Road and the Buckhead Loop. The new MARTA pedestrian bridge spanning Georgia 400 gives the project direct access to public transit. The Buckhead Community Improvement District has also proposed a nine-acre park on top of a half-mile stretch of Georgia 400 from the Buckhead Loop to Peachtree Road. Upon completion, the $245 million park will serve as the entrance to the joint venture’s new project. BCDC is a wholly owned subsidiary of Kajima USA, based in Atlanta. The company provides development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeast. Atlanta-based Regent Partners is …

January 27, 2017

Mixed-Use Multifamily Retail Texas

EDGE Capital Negotiates Acquisition of 38,549 SF Mixed-Use Building in Houston

by Amy Works January 26, 2017

HOUSTON — EDGE Capital Markets has brokered the acquisition of Art Square Center, a mixed-use building located at 4118 Fannin St. in Houston. Kline Ventures acquired the 38,549-square-foot property from Fannin VP for an undisclosed price. The building features a mix of retail, studio and residential space. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the buyer in the transaction.

January 26, 2017

Maryland Mixed-Use Southeast

Kimco Delivers $18.1M Redevelopment of Mixed-Use Center in Columbia, Signs Three Tenants

by John Nelson January 26, 2017

COLUMBIA, MD. — Kimco Realty Corp. has completed the $18.1 million redevelopment of Wilde Lake Village Center, a mixed-use development in Columbia that features 230 residential rental units, 30,000 square feet of office space, 41,000 square feet of retail space and 20,000 square feet of restaurants. As part of the redevelopment, Kimco is remerchandising the center and has recently executed leases with three tenants. Starbucks Coffee is opening both a café and a drive thru in the fall, Dynamic Dental Care LLC opened in December and Salons by JC is scheduled to open early this fall above David’s Natural Market.

January 26, 2017

Illinois Midwest Mixed-Use

Marcus & Millichap Arranges $5.7M Sale of Mixed-Use Building in Evanston, Illinois

by Kristin Harlow January 25, 2017

EVANSTON, ILL. — Marcus & Millichap has arranged the sale of The Chandler’s Building in Evanston, 12 miles north of Chicago, for $5.7 million. The building is located at 630 Davis St. near Northwestern University. The mixed-use property features office space and 23,929 square feet of ground-floor retail space. The property was built in 1910 with renovations completed in 2010. The building was 70 percent occupied at the time of sale. The buyer was a private real estate investor satisfying a 1031 exchange. The seller was 630 Davis Street LLC. Stephen Lieberman and Kyle Stengle of Marcus & Millichap represented the sale on behalf of ownership.

January 25, 2017

Mixed-Use Multifamily New York Northeast Retail

Houlihan-Parnes Arranges $1.1M Sale of Mixed-Use Property in Endicott, New York

by Amy Works January 24, 2017

ENDICOTT, N.Y. — Houlihan-Parnes has brokered the sale of a mixed-use property located at 10 Delaware Ave. in Endicott. An undisclosed buyer acquired the asset for $1.1 million. The property consists of 75 multifamily units, 26,406 square feet of commercial space and an additional loft building that can be converted into 10 apartments. Ed Graf of Houlihan-Parnes represented the undisclosed seller in the deal.

January 24, 2017

Illinois Midwest Mixed-Use

Jameson Brokers $1.7M Sale of Mixed-Use Property in Chicago

by Kristin Harlow January 23, 2017

CHICAGO — Jameson Commercial Real Estate has brokered the sale-leaseback of a mixed-use property in Chicago’s Fulton Market district for $1.7 million. The building, which consists of 6,000 square feet of office and retail space, is located at 1360 W. Lake St. A longtime occupant of the building, the seller was a distributor of medical devices for the orthopedic and arthroscopic markets. An East Coast-based investor was the buyer. Ari Topper of Jameson brokered the transaction.

January 23, 2017

Mixed-Use Nevada Western

Construction Underway on the Towers at Pink Hill Mixed-Use Development Near UNR Campus

by Nellie Day January 23, 2017

RENO, NEV. — Construction is underway on the Towers at Pink Hill, a mixed-use development located near the University of Nevada, Reno campus. The four-story development is the flagship project for Pink Hill Properties LLC, founded by University of Nevada basketball teammates Kevinn Pinkney and Garry Hill-Thomas. The community will offer 23 units atop three restaurants and retail space. The architect for the development is Studio HBA, Reno, and the general contractor is TFP Inc. Greater Nevada Credit Union provided financing for the development, which is scheduled to open later this year.

January 23, 2017

Mixed-Use Multifamily Northeast Pennsylvania Retail

Marcus & Millichap Negotiates $2M Sale of Mixed-Use Property in Philadelphia

by Amy Works January 20, 2017

PHILADELPHIA — Marcus & Millichap has brokered the sale of a two-building mixed-use property located at 4343-4345 Main St. in Philadelphia’s Manayunk neighborhood. An undisclosed buyer acquired the property for $2 million, or $231,666 per unit. The asset features eight studio, one- and two-bedroom apartments and one retail unit, which is leased to Chabaa Thai and Binto. Phil Sharrow and Jonathan Massaro of Marcus & Millichap represented the undisclosed seller and secured the buyer. Additionally, Sharrow and Massaro worked with Matthew Rosenberg of Marcus & Millichap Capital Corp. to arrange a 10-year acquisition loan for the buyer.

January 20, 2017

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