Mixed-Use

Federal Capital Partners Sells West Village Development in Durham for $187M

by Christina Cannon February 12, 2016

DURHAM, N.C. — Federal Capital Partners has sold the mixed-use development, West Village, for $187 million. The Connor Group purchased the development, which is located at 605 W. Main St. in Durham. West Village consists of 609 apartments and 104,000 square feet of commercial space, which is located less than two miles from Duke University. The apartments are comprised of 453 urban lofts and 156 luxury apartments. The 10 buildings that make up West Village were previously tobacco warehouses, with most of the buildings pre-dating 1920. The apartments at West Village range from studios to four-bedroom units, and amenities include swimming pools with sundecks, courtyards, a fitness center, business center, on-site Amtrak station, outdoor theater, clubhouse, game room, bike shop and patios with a TV and grills. Over the past few years, improvements throughout the community were made, including new branding, signage, Wi-Fi hotspots, and the fitness center was expanded to feature a yoga room and juice bar. West Village residents also have access to the Zipcar program. There are currently 45 restaurants within a half-mile radius of West Village, which has a Walk Score of 84, meaning most errands can be accomplished on foot. The residential portion of West …

February 12, 2016

Florida Loans Mixed-Use Southeast

Related Group, Dezer Development Close $114.7M Construction Loan for Mixed-Use Tower in Miami

by John Nelson February 11, 2016

MIAMI — The Related Group and Dezer Development have closed on a $114.7 million construction loan for Hyde Midtown Suites & Residences, a hotel and condominium development that will be located on Midtown Avenue and 34th Street in Miami. Mack Real Estate Credit Strategies provided the construction loan to Related and Dezer. The two companies collaborated with sbe on the project, which will feature 60 designer hotel rooms, 410 luxury condominiums and 19,500 square feet of retail, dining and entertainment space, including the Hyde Piano Bar Lounge. Hyde Midtown will feature a pool terrace on the seventh floor, private screening theater, game room, bocce and tennis courts and VIP access to Hyde Beach at the SLS Hotel South Beach. The design team includes Arquitectonica and David Rockwell, who will design the lobby and hotel rooms. Related and Dezer broke ground on the mixed-use tower in September 2015 with a completion date set for 2018. The condo portion is more than 70 percent under contract.

February 11, 2016

Mixed-Use North Carolina Southeast Top Stories

Kane Realty, KBS to Develop $100M High-Rise in Raleigh

by John Nelson February 11, 2016

RALEIGH, N.C. — Kane Realty Corp., a Raleigh-based commercial real estate developer, has joined with Newport Beach, Calif.-based KBS Realty Advisors as a joint venture partner for the development of Park Central in Raleigh. The development costs for the 16-story, mixed-use tower are estimated to total $100 million, according to Triangle Business Journal. “We are delighted for our partnership with KBS Realty Advisors to continue with Park Central,” says John Kane, CEO of Kane Realty Corp. “The vision we’ve shared with KBS fulfills the [area’s] demand for an upscale, urban lifestyle that’s rich with amenities. As Raleigh continues to grow, we are proud to provide a vibrant community … for residents and workers to enjoy.” The 252,204-square-foot high-rise retail and apartment building will be located at the intersection of Six Forks Road and the 440 Beltline in Midtown Raleigh’s North Hills district. Construction is already underway on the project, which is situated adjacent to Midtown Park. “We truly believe Park Central’s dynamic location within an attractive market like Raleigh, coupled with the luxury style of living we’re offering, will be a very attractive draw to tenants,” says Marc DeLuca, regional president of KBS. “Raleigh has become an appealing location for …

February 11, 2016

Illinois Midwest Mixed-Use

Tucker Development, Acadia Realty Trust Plan 90,000 SF Mixed-Use Development in Downtown Chicago

by Christina Cannon February 9, 2016

CHICAGO — Tucker Development and Acadia Realty Trust have acquired a portfolio of 10 buildings located on the 900 block of West Randolph Street in the Fulton Market District of Chicago. The duo plans to redevelop the space as a mixed-use area that will consist of 90,000 square feet of office and retail space. The site is located a block from the Morgan Station CTA stop, providing access to the Pink and Green lines. The project is slated for completion in the spring of 2017.

February 9, 2016

Midwest Mixed-Use Office Ohio

Grandview Yard Near Columbus Leases Space to Eight New Tenants

by Christina Cannon February 9, 2016

GRANDVIEW HEIGHTS, OHIO — The developer of Grandview Yard has signed eight new tenants who will collectively occupy over 24,000 square feet of space. Grandview Yard is a mixed-use development outside of Columbus that is situated on 125 acres and will encompass 1.2 million square feet of retail, restaurant, grocery, hospitality and residential space once completed. New tenants who have inked a deal at Grandview Yard include: Hilliard Lyons: 2,900 square feet at 800 Yard St. Unum Life Insurance Co.: 6,300 square feet at 800 Yard St. Seamless Logistics: 3,400 square feet at 775 Yard St. Columbus Hospitality Management: 3,400 square feet at 775 Yard St. United States Navy: 2,200 square feet at 845 Yard St. Northeast Family Dental Associates: 2,000 square feet at 845 Yard St. FKP Architects Inc.: 1,900 square feet at 845 Yard St. Executive Eye Care LLC: 2,000 square feet at 895 W. Third Ave. In addition to the eight new tenants, the project developer, Nationwide Realty Investors, has announced that the first 320,000-square-foot building on Nationwide’s own 500,000-square-foot office campus will open this spring. Nationwide also announced that the 166-unit Apartments at Grandview Yard will open this spring, and a 135-room Courtyard by Marriott, along …

February 9, 2016

Mixed-Use Restaurant Retail Texas

Golden Chick Opens New Location in Burleson Commons Mixed-Use Development

by Haisten Willis February 8, 2016

BURLESON, TEXAS — Golden Chick has opened a new location at Burleson Commons. The property is located at the intersection of Wilshire Boulevard and FM 731 in Burleson. Golden Chick joins the new Kroger, which opened last month. Cullinan Properties, headquartered in Peoria, Ill., owns and manages Burleson Commons. SRS Real Estate’s Dallas/Fort Worth office represented Cullinan in the sales transaction. First opened in the late 1960’s in San Marcos, Golden Chick is a chain of franchise restaurants in the south and southwest United States with more than 150 locations. The chain’s flagship menu item has been its Golden Tenders, which are marinated, hand-battered chicken tenderloins.

February 8, 2016

Hospitality Massachusetts Mixed-Use Multifamily Northeast

Related Beal Breaks Ground on Mixed-Use Development in Boston

by Amy Works February 5, 2016

BOSTON — Related Beal has broken ground for Parcel 1B, a mixed-use, transit-oriented development across the street from Lovejoy Wharf in Boston. Designed by CBT Architects, the project will include a 14-story residential building totaling 484,000 square feet with street-level retail and on-site parking, and a 220-room Courtyard Marriott hotel with 2,500 square feet of meeting space, which will be operated by Turnberry Associates. The residential building will feature 239 affordable units that will be restricted to individuals, couples and families with qualified incomes ranging from 30 percent area median income (AMI) to up to 165 percent AMI. The project is slated for delivery in 2018.

February 5, 2016

Mixed-Use Office Restaurant Retail Texas

Yeager to Build New Mixed-Use Development in Plano

by Haisten Willis February 5, 2016

PLANO, TEXAS — Yeager has broken ground on a 48,300-square-foot mixed-use development in Plano known as Yeager at Rasor Pointe. The Indiana-based developer expects to complete the project, which includes 39,750 square feet of office suites and 8,550 square feet of retail and restaurant space, by early August. The property will be located on a 3.8-acre lot at the northeast corner of Rasor Boulevard and Ohio Drive.

February 5, 2016

Mixed-Use Southeast Virginia

U.S. Navy Awards Hourigan-Sundt JV $36M Contract to Construct Facility in Virginia Beach

by John Nelson February 4, 2016

VIRGINIA BEACH, VA. — The U.S. Naval Facilities Engineering Command in Norfolk has awarded Hourigan-Sundt a $36 million contract to design, construct and renovate an Explosive Ordnance Disposal Consolidated Operations Complex in Virginia Beach. The 150,000 project will be situated within the Joint Expeditionary Base Little Creek-Fort Story. The facility will provide space for operations, logistics, storage and administrative support services. Hourigan-Sundt, a joint venture between Hourigan Construction and Sundt Construction Inc., expects to break ground on the project in mid-2016. Completion is slated for October 2018. Sundt has five other construction projects with the Navy, including the Camp Johnson Bachelor Enlisted Quarters at Camp Lejeune, N.C.

February 4, 2016

irving-music-factory-the-pavilion-las-colinas-texas

Mixed-Use Office Restaurant Retail Texas

Skanska Awarded $94M Construction Contract for Irving Music Factory in Metro Dallas

by Haisten Willis February 3, 2016

LAS COLINAS, TEXAS — Skanska has signed a $94 million contract with the ARK Group of Charlotte, N.C., to build the Irving Music Factory in Las Colinas. Skanska will convert the existing 16.8-acre greenfield site into an entertainment destination. The new project will include an 8,000-seating capacity indoor/outdoor concert hall called the Pavilion operated by Live Nation. The venue includes seven buildings offering more than 250,000 square feet of entertainment, retail and restaurant space and an eight-screen Alamo Drafthouse Cinema. Additionally, there will be a four-story, 100,000-square-foot office tower sitting atop a six-level, 1,200-space parking garage. The project also features a 50,000-square-foot plaza and four outdoors stages. The venue is designed to host a variety of events, including music performances, fashion shows, farmers markets and food festivals throughout the year. Gensler is the architect for the project. Construction for the venue is expected to commence this month and is slated for completion in June 2017.

February 3, 2016

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