Mixed-Use

Bayer Properties to Add Food Hall to $66M Pizitz Building Renovation in Birmingham

by John Nelson January 21, 2016

BIRMINGHAM, ALA. — Bayer Properties has plans to add a food hall on the ground floor of the historic Pizitz building in downtown Birmingham. The $66 million renovation of the circa 1923 department store building began in 2015. The Pizitz Food Hall will feature food and beverage options, two full-service restaurants, an outdoor seating and entertainment area and an interior bar. The food hall will also serve as an incubator for Birmingham’s up-and-coming chefs, with one of the stalls rotating quarterly to feature a new and different chef. Rule Joy Trammel + Rubio has been hired as the architect for the food hall, whose experience includes Krog Street Market in Atlanta. When complete, the Pizitz building will feature 143 rental apartment residences, 11,000 square feet of office space, The Pizitz Food Hall and an entertainment component in the basement. The Pizitz Food Hall will open concurrently with the project’s residential component in fall 2016.

January 21, 2016

Mixed-Use Multifamily New York Northeast Retail

Besen & Associates Arranges $3.2M Sale of Mixed-Use Property in Manhattan

by Amy Works January 19, 2016

NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 1792 Amsterdam Ave. in the Hamilton Heights neighborhood of Manhattan. The asset sold for $3.2 million, or $350 per square foot. Built in 1980, the 9,315-square-foot property features 13 apartments and 1,050 square feet of retail space. Greg Corbin, Miguel Jauregui and Saadya Notik of Besen & Associates represented the seller and procured the buyer in the transaction.

January 19, 2016

Georgia Mixed-Use Southeast

Kroger on Atlanta BeltLine to be Part of New Mixed-Use Development

by John Nelson January 19, 2016

ATLANTA — Kroger’s Atlanta Division and New City LLC plan to transform an existing Kroger store on Ponce de Leon Avenue in Atlanta as part of a mixed-use development along the Atlanta BeltLine. The new development, known as 725 Ponce, will include a new 60,000 square-foot Kroger below 360,000 square feet of Class A loft office space. The office space will be delivered in a similar fashion as the adjacent Ponce City Market, which is currently more than 90 percent leased. The building will include open floor plates with exposed 13-foot ceilings, divided light windows, an industrial aesthetic and multiple stair-stepped outdoor terraces. The development team has hired Aileen Almassy of Cushman & Wakefield to lease the office space. Below the footprint of the project, more than 900 new parking spaces will be constructed to serve future office tenants, as well as to the general public on nights and weekends. The new Kroger prototype store will feature a dedicated entrance to the Atlanta BeltLine and replace the existing Kroger store, which was built in 1986 and known to locals as “Murder Kroger.” New City will be working with the owners of the adjacent Ford Factory to create a new dedicated …

January 19, 2016

Midwest Mixed-Use Ohio

Hoar Construction Completes $146M Mixed-Use Development in Cincinnati Suburb

by Christina Cannon January 19, 2016

LIBERTY TOWNSHIP, OHIO — Hoar Construction has completed the $146 million construction of Liberty Center, a mixed-use development in Liberty Township, approximately 30 miles north of Cincinnati. The 1.1-million-square-foot development consists of 600,000 square feet of retail space, 100,000 square feet of Class A office space, a 130-room AC Hotel by Marriott, 220 luxury apartment units and a 60,000-square-foot, 14-screen movie theater. Liberty Center was co-developed by Steiner + Associates and Bucksbaum Retail Properties. Retail tenants at Liberty Center include Dillard’s, Forever 21, Kona Grill and Dick’s Sporting Goods.

January 19, 2016

Loans Mixed-Use New York Northeast Office Retail

HFF Secures $13.6M Acquisition Loan for Tribeca Mixed-Use Property

by Amy Works January 18, 2016

NEW YORK CITY — HFF has secured $13.6 million in acquisition bridge financing for a 17,615-square-foot mixed-use property located at 315 Broadway in Manhattan’s Tribeca neighborhood. The borrower, United American Land, plans to used the loan to reposition the property into a boutique office building with high-quality retail space on the ground floor. The five-story loft property has 13,900 square feet of office space, 3,715 square feet of ground-floor retail space and approximately 23,401 square feet square feet of unused air rights. Steven Klein and Geoff Goldstein of HFF arranged the four-year, floating-rate loan through Peoples United Bank.

January 18, 2016

Mixed-Use Multifamily New York Northeast Office

Cushman & Wakefield Arranges $2.5M Sale of Mixed-Use Property in Brooklyn

by Amy Works January 18, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 199 Malcolm X Blvd. in Brooklyn’s Bedford-Stuyvesant neighborhood. The asset sold for $2.5 million, or $534 per square foot, in an all-cash transaction. The 4,836-square-foot, three-story building features five three-bedroom apartments and two retail units. Michael Amirkhanian of Cushman & Wakefield represented the undisclosed seller in the transaction. The name of the buyer was not released.

January 18, 2016

Mixed-Use Multifamily Office Retail Texas

Trammell Crow, MetLife Break Ground on Park District in Dallas

by Haisten Willis January 18, 2016

DALLAS — Trammell Crow Co. and MetLife have begun construction on Park District in the heart of downtown Dallas, the Arts District, Uptown and Klyde Warren Park. The two-tower mixed-use development spans more than 900,000 square feet of Class A office space, restaurants and residences. The 20-story office tower, PwC Tower at Park District, will feature 500,000 square feet of Class A office space with 7,000 square feet of ground-floor retail. PricewaterhouseCoopers (PwC), a global professional services firm providing assurance, tax and advisory services, is the building’s anchor tenant, occupying 200,000 square feet on floors 12-19. The tower features fitness facilities, outdoor common spaces, on-site banking and a valet. The lobby will include a conference center, executive lounge and a “great room” for tenants to use as an alternative workspace. Trammell Crow’s residential subsidiary, High Street Residential, is developing the 33-story Residences at Park District, which will feature 253 units and 13,000 square feet of retail space fronting Klyde Warren Park. Residents will have access to an amenity deck with a pool overlooking the park and the Dallas skyline, a fitness center, valet and concierge services. The retail space will have 20-foot floor-to-floor glass on two levels providing the second …

January 18, 2016

Loans Mixed-Use Office Retail Texas

NorthMarq Arranges $8M Loan for Mixed-Use Property in Metro Houston

by Haisten Willis January 18, 2016

PEARLAND, TEXAS — John Burke of NorthMarq Capital’s Houston office has arranged an $8 million fixed-rate loan for a mixed-use office and retail property located on Broadway in Pearland. The interest-only loan was structured with a fixed term featuring flexible pre-payment options. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company lender.

January 18, 2016

Industrial Mixed-Use Multifamily New Jersey Northeast Office Retail

NAI Mertz Negotiates Sale of 65-Acre Industrial Site in New Jersey

by Amy Works January 15, 2016

HAMILTON TOWNSHIP, N.J. — NAI Mertz has arranged the sale of the multi-building, 1 million-square-foot former Congoleum Corp. complex, located at 861 Sloan Ave. in Hamilton Township. Commercial Development Corp. (CDC) acquired the property from Congoleum Corp. for an undisclosed price. CDC plans to develop a mixed-use development on the 65-acre site. The developer plans to raze the majority of the buildings on site with the exception of Building 55, an existing 150,000-square-foot warehouse building. Jeffrey Licht and Fred Meyer of NAI Mertz represented the seller in the transaction.

January 15, 2016

Loans Mixed-Use Multifamily New York Northeast Office Retail

Eastern Consolidated Arranges $27M Acquisition Loan for 105,000 SF Development Site in Manhattan

by Amy Works January 15, 2016

NEW YORK CITY — Eastern Consolidated has arranged a $27 million bridge loan on behalf of XIN Development International for the acquisition of a development site in Manhattan’s Midtown West. XIN Development plans to build a mixed-use project on the 105,000-square-foot development site, which is located at 615 Tenth Ave. Adam Hakim, Sam Zabala and James Murad of Eastern Consolidated secured the financing, which was provided by Bank of the Ozarks, for the borrower.

January 15, 2016

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