Mixed-Use

Bellwether Enterprise Closes Refinancing for AvidXchange Music Factory in Charlotte

by John Nelson June 28, 2016

CHARLOTTE, N.C. — Bellwether Enterprise Real Estate Capital has closed a loan for the refinancing of AvidXchange Music Factory, a mixed-use development in downtown Charlotte. The property features 120,000 square feet of office space; 140,000 square feet of restaurant, bar and entertainment space; and a 5,000-person, open-air amphitheater. Live Nation operates the amphitheater and two indoor venues at the Music Factory. Bellwether Enterprise arranged the loan through Cantor Commercial Real Estate Lending LP. Terms of the loan were not disclosed.

June 28, 2016

California Mixed-Use Western

Public/Private Partnership Breaks Ground on Mixed-Use Development in Fremont

by Nellie Day June 27, 2016

FREMONT, CALIF. — A public/private partnership between the City of Fremont, TMG Partners, SARES-REGIS Group and Summerhill Homes has broken ground on Locale @ State Street in downtown Freemont. Designed by KTGY Architecture + Planning, the transit-oriented residential and retail development will feature 157 for-sale residential units and 21,000 square feet of ground-floor, street-front retail and restaurant space along Capitol Avenue. Situated within walking distance of the Fremont BART station, the development will offer 81 flats and rowhomes and 76 on-grade attached rowhomes. On-site amenities include outdoor spaces with barbecues, landscaping, seating areas, a fitness studio and bike share program.

June 27, 2016

Mixed-Use Multifamily New York Northeast Retail

Citicore Arranges $14.9M Sale of Mixed-Use Portfolio in the Bronx

by Amy Works June 27, 2016

NEW YORK CITY — Citicore has arranged the sale of a two-building mixed-use portfolio in the Bronx. Steven Staz, a Bronx-based investor, acquired the 81,174-square-foot portfolio from Semper Fi Management 7 Corp. and Cavan Properties for $14.9 million. The portfolio consists of a seven-story, 67-unit apartment building with two commercial stores located at 340 E. 184th St. and a five-story, 34-unit apartment building with five retail units located at 899 E. 169th St. Timour Shafran, Gem Algan and Steven Benatar of Citicore represented the buyer and the seller in the deal.

June 27, 2016

Illinois Midwest Mixed-Use Retail

Novak Construction Completes 30,000 SF Whole Foods in City Hyde Park in Chicago

by Christina Cannon June 27, 2016

CHICAGO — Novak Construction has finished work on a 30,000-square-foot Whole Foods Market at the City Hyde Park development. The store, located at 5118 S. Lake Park Ave., features a secret society theme and pays homage to the University of Chicago. The store features a dark blue and brass color scheme and other décor related to the university. The project also included installing a mechanical system and an underground parking garage. Jeanne Gang designed the City Hyde Park project.

June 27, 2016

Georgia Hospitality Mixed-Use Southeast Top Stories

Great Wolf Resorts to Open $150M Lodge, Indoor Water Park in LaGrange, Georgia

by Christina Cannon June 24, 2016

LAGRANGE, GA. — Great Wolf Resorts Inc. has unveiled plans to open a new $150 million destination resort in La Grange, approximately 70 miles southwest of Atlanta, by 2018. The company has entered into a partnership with the state of Georgia and the City of LaGrange, but no other details of the partnership have been released. Great Wolf Lodge Georgia will offer 500,000 square feet of entertainment space. The centerpiece of the resort will be a 93,000-square-foot indoor water park that will include a multi-level treehouse, tipping water bucket, high-thrill water slides, a lazy river, wave pool, several zero depth entry pools and kids water play areas. The lodge will also include 456 rooms that will each accommodate at least five people. Rooms will include refrigerators, microwaves and coffee makers. Great Wolf Lodge will also offer kid-focused suites such as the Wolf Den and KidCabin, which will feature various themes and bunk beds. Other entertainment options will include a ropes course, climbing attraction, miniature golf, bowling alley, spas, dining options and numerous shows and programs. The lodge will also feature over 16,000 square feet of meeting and conference space with audio-visual technology and catering options. “Creating more than 600 jobs and …

June 24, 2016

Hospitality Massachusetts Mixed-Use Multifamily Northeast Office Retail

HYM, National Unveil Redevelopment of Government Center Garage in Boston

by Amy Works June 23, 2016

BOSTON — National Real Estate Advisors and The HYM Investment Group have unveiled plans to redevelop the Government Center Garage into Bulfinch Crossing, a six-building, 2.9 million-square-foot mixed-use development in Boston’s Bulfinch Triangle. Spanning two city blocks, Bulfinch Crossing will be anchored by One Congress, a 1 million-square-foot office tower designed by Pelli Clarke Pelli Architects. At full build-out, the development will feature three mid-rise buildings, including a hotel-and-condo building, an office building and a multi-story retail property, surrounding a new public plaza on the eastern side of the parcel, and One Congress and two high-rise residential buildings on the west parcel. Expected to break ground later this year, the project’s first high-rise residential component, designed by CBT Architects, will consist of 486 units, including 64 designated as affordable housing. In total, the mixed-use development will include 812 residential units, 196 hotel rooms, 1.15 million square feet of office space and 85,000 square feet of new retail space. Additionally, the property will feature a 1-acre rooftop amenity on the west parcel and a more than 1-acre public plaza on the east parcel. At completion of the overall redevelopment, the remaining portions of the existing garage will contain approximately 1,100 parking spaces …

June 23, 2016

District of Columbia Loans Mixed-Use Office Retail Southeast Top Stories

KeyBank, Walton Street Originate $196M Refinancing for The Atlantic Building in D.C.

by Haisten Willis June 22, 2016

WASHINGTON, D.C. — A partnership between KeyBank Real Estate Capital and an affiliate of Walton Street Capital LLC have originated a $196 million first mortgage loan for Douglas Development Corp. The loan is secured by The Atlantic Building, a 280,000-square-foot trophy office building with ground-floor retail located in the east end of Washington D.C. The 10-year, fixed-rate loan includes a 65 percent loan-to-value ratio and refinances the existing debt on the property. KeyBank and Walton Street will provide servicing and advisory services for the life of the loan. The Atlantic Building is located at 950 F St. N.W. The property integrates seven historic buildings and facades with a 10-story office building next to Ford’s Theatre, the site where President Abraham Lincoln was assassinated in 1865. Built in 1887, the building was the city’s first privately constructed high-rise with elevator service. The historic exteriors have since been preserved and incorporated into the modern version of the property, which was redeveloped between 2004 and 2006. The Atlantic Building includes 283,512 rentable square feet, of which 29,172 square feet is retail and 35,340 square feet is office. In addition, there are 322 below-grade parking spaces and Metro access from the red, blue and …

June 22, 2016

Mixed-Use Retail Texas

New LA Fitness Location Opens in Frisco Market Center

by Haisten Willis June 21, 2016

FRISCO, TEXAS — A 38,000-square-foot LA Fitness has opened in Frisco Market Center, a 100-acre mixed-use development located at the northwest corner of the Dallas North Tollway and Main Street in Frisco. Earlier this year, a grocery store chain purchased 19 acres along the eastern portion of Frisco Market Center for a future 100,000-square-foot store. Hermansen Development is the owner and developer for Frisco Market Center. The LA Fitness building, located at 5080 Main St., is situated on 5.1 acres. Ridgemont was the general contractor for the project and LegacyTexas was the lender. Chief Partners LP, a real estate investment firm based in Dallas, is the capital partner for Frisco Market Center. Upon completion, Frisco Market Center will include nearly 500,000 square feet of entertainment space, restaurants and retail, 250 hotel rooms and over 1,500 residences. Anchored by Main Event Entertainment and LA Fitness, the project also includes The Emerson, a 410-unit apartment community, and several restaurants. Other developments located at the intersection include Toyota Stadium and Soccer Center, a 145-acre multipurpose sports and entertainment facility consisting of the soon-to-open National Soccer Hall of Fame plus a 20,500-seat pro soccer stadium and 17 fields.

June 21, 2016

Civic Georgia Hospitality Mixed-Use Southeast

Public-Private Partnership to Begin Construction on Avalon’s $112M Hotel, Conference Center

by John Nelson June 20, 2016

ALPHARETTA, GA. — A public-private partnership involving North American Properties (NAP), Long Wharf Real Estate Partners, Stormont Hospitality Group and the city of Alpharetta will break ground tomorrow on The Hotel at Avalon and the connecting 65,000-square-foot Alpharetta Conference Center. The $112 million project will anchor Phase II of the 86-acre Avalon mixed-use development. The 330-bed hotel will be part of Marriott International’s Autograph Collection and will feature a local chef-driven restaurant, 24-hour fitness center, upscale pool, valet service and Club Avalon Concierge. The conference center will feature a 12,500-square-foot exhibit hall, 10,000-square-foot ballroom with six salons, six meeting rooms, boardroom, reception area, pre-function space and outdoor venues. The hotel and conference center are set to open in January 2018. The design team includes architect Cooper Carry and general contractor Brasfield & Gorrie. SunTrust Bank is providing construction financing, and HEI Hotels & Resorts will serve as the manager of the new hotel.

June 20, 2016

Florida Mixed-Use Southeast

Allen Morris Breaks Ground on $68M Mixed-Use Project in Metro Orlando

by John Nelson June 20, 2016

MAITLAND, FLA. — The Allen Morris Co. has begun construction on Maitland City Centre, a $68 million mixed-use development in Maitland, roughly 10 miles north or Orlando. Upon completion in 2018, the project will feature 220 residential units and 35,000 square feet of retail and restaurant space set within a six-story building that will occupy three city blocks near City Hall. Units will range from 700 to 1,300 square feet and will rent for $1,300 to $2,400 per month. Announced tenants at Maitland City Centre include Starbucks Coffee, Subway, Renaissance Med Spa, Nava Pets, an artisan food hall/market, Mesa 21, Doc B’s Fresh Kitchen and a concept from chef Clayton Miller of Dove-Cote in Orlando. SunTrust Bank and TD Bank are financing the development on behalf of a joint venture partnership between Allen Morris, Lamm & Co. Partners and Millenia Partners.

June 20, 2016

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