Mixed-Use

Ariel Property Advisors Brokers the Sales of Two East Harlem Properties Totaling $11.7M

by Amy Works October 8, 2015

NEW YORK CITY — Ariel Property Advisors has arranged the sales of two properties, totaling $11.7 million, in East Harlem. In the first transaction, a private investor acquired a six-story mixed-use property located at 124-128 E. 107th St. in East Harlem for $9.1 million, or $449 per square foot. The 20,395-square-foot building contains 34 residential units, two commercial units and two superintendent units. Victor Sozio, Shimon Shkury, Michael Tortorici, Josh Berkowitz and Matthew Gillis of Ariel Property represented the seller, a private real estate firm, and procured the buyer. In the second deal, a private investor purchased a development site located at 2282 Second Ave. in East Harlem for $2.6 million, or $215 per buildable square feet. The property offers approximately 12,191 total buildable square feet for mixed-use development. Samuel Atlas, Tortorici, Sozio, Gillis and Berkowitz of Ariel Property represented the seller, a private real estate firm, and procured the buyer in the transaction.

October 8, 2015

Massachusetts Mixed-Use Multifamily Northeast Office Retail

Oaktree FX Opens 74-Unit Brookside Square in West Concord, Mass.

by Amy Works October 7, 2015

WEST CONCORD, MASS. — Oaktree FX, a partnership between Oaktree Development and FX Investments, has opened Brookside Square, a transit-oriented, mixed-use development in West Concord. The $32 million property features 74 luxury apartments and 36,000 square feet of commercial and office space within a short walking distance to the West Concord Commuter Rail Station. The property features a mix of studio, one- and two-bedroom units priced from $1,755 to $3,265. On-site amenities include an underground parking garage, community room with gas fireplace and WiFi access, fitness center and a community deck overlooking Nashoba Brook. The property is managed by WinnResidential.

October 7, 2015

Mixed-Use New York Northeast

Picone Construction Continues Work on 52,000 SF Mixed-Use Project in Buffalo

by Amy Works October 7, 2015

BUFFALO, N.Y. — Picone Construction Corp. is constructing a $4.5 million, five-story mixed-use building at 301 Ohio St. in Buffalo. The 52,000-square-foot property will house two restaurants, 10,000 square feet of commercial space and 21 one- and two-bedroom apartments. Residential units will feature balconies overlooking the Buffalo River. Designed by Chaintreuil, Jenson, Stark Architects, the project is slated for completion in 2016.

October 7, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Meridian Capital Arranges $4M in Financing for Mixed-Use Property in Hell’s Kitchen

by Amy Works October 5, 2015

NEW YORK CITY — Meridian Capital Group has arranged $4 million in financing for a mixed-use property in the Hell’s Kitchen neighborhood of Manhattan. Provided by JPMorgan Chase, the seven-year loan features a fixed-rate of 3.8 percent. Located at 755 Ninth Ave., the five-story property features 20 apartments and 2,000 square feet of retail space. Brian Flax and Blake Orman of Meridian’s New York City headquarters office negotiated the financing for the undisclosed borrower.

October 5, 2015

Mixed-Use Restaurant Retail Texas

Howard Hughes Corp. Opens Restaurant Row at Hughes Landing in The Woodlands

by Haisten Willis October 1, 2015

THE WOODLANDS, TEXAS — The Howard Hughes Corp. and its wholly-owned subsidiary The Woodlands Development Co. have officially opened Restaurant Row at Hughes Landing, a mixed-use development including restaurants, retailers, multifamily residences, entertainment venues, office buildings and an Embassy Suites by Hilton hotel. California Pizza Kitchen, Del Frisco’s Grille, Escalante’s Fine Tex-Mex & Tequila and Local Pour are now open in Restaurant Row, with Truluck’s and Fogo de Chão under development. Retailers now open include Cadence Bank, CUPS Frozen Yogurt, KB Kasuals, Kriser’s Natural Pet, Pier 1 Imports, Starbucks, Venetian Nail Spa and Whole Foods Market. Other retails, including 18|8 Fine Men’s Salons, Macaron by Patisse and Willa Boutique, will open at Hughes Landing soon.

October 1, 2015

Illinois Midwest Mixed-Use

Centrum Partners Begins Development on 36-Unit Mixed-Use Apartment Building near Chicago

by Christina Cannon October 1, 2015

LAKEVIEW, ILL. — Centrum Partners LLC has broken ground on a five-story, 36-unit apartment building, Centrum Lakeview, located at 3400 N. Lincoln Ave. in Lakeview, a Chicago suburb. The project is slated for completion in 2016, and the 40,000-square-foot building will offer one- and two-bedroom apartments ranging from 535 to 1,036 square feet. Unit amenities include floor-to-ceiling windows, modern kitchens and upgraded bathrooms. Community amenities include a fitness room, billiard room, secure bike storage, same-day dry cleaning and package storage. The complex will have 6,000 square feet of retail space on the first floor. The property is located adjacent to the ‘L’ Brown Line stop at Paulina. All building materials have been sourced locally, and Centrum has plans to add a green roof, electric car charging station and a recycling program. Centrum acquired the property from KF Lakeview LLC in 2014. The building was vacant at the time of sale. Centrum Lakeview is one of the first developments approved under the city’s 2013-revised TOD (Transit Oriented Development) ordinance.

October 1, 2015

Mixed-Use Retail Texas

Thor Equities Secures Construction Financing for Kirby Collection in Houston

by Haisten Willis September 30, 2015

HOUSTON — Thor Equities has secured construction financing for Kirby Collection, a new mixed-use development at 3200 Kirby Drive in Houston. The 1 million-square-foot residential, office, retail and entertainment development is located in the River Oaks neighborhood of Houston, bounded by Kirby Drive and West Main, Colquitt and Lake streets. The project features a 25-story, 385,000-square-foot residential tower with 199 apartments comprising seven two-story townhomes and seven two-story loft spaces with private yards. The residences will overlook a deck with more than an acre of landscaped amenities, including a pool with cabanas, fire pits and a bar area. Kirby Collection’s 13-story, 210,000-square-foot, Class A office building is located near downtown Houston, the Galleria/Uptown District, Greenway Plaza and the Texas Medical Center. The development is scheduled to break ground in October and open in the fourth quarter of 2017. Richard Keating is the design architect for Kirby Collection, and Dianna Wong Architecture + Design is the interior designer. Houston-based Kirksey is the architect of record.

September 30, 2015

Mixed-Use Multifamily New York Northeast Retail

Marcus & Millichap Brokers $2.3M Sale of Mixed-Use Property in Brooklyn

by Amy Works September 30, 2015

NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 741 Fulton St. in Brooklyn. BBD Enterprises sold the 2,600-square-foot property, which features multifamily and retail space, for $2.3 million. Dwane Omar Jones represented the seller and the buyer, a local private investment partnership, in the transaction.

September 30, 2015

Mixed-Use Retail Texas

Victory Real Estate Group to Develop Mixed-Use Asset in Little Elm

by Haisten Willis September 28, 2015

LITTLE ELM, TEXAS — Victory Real Estate Group, a commercial development and investment firm based in Dallas, has begun construction on a seven-acre tract located on the east side of FM 423, just south of Little Elm Parkway between Eldorado Parkway and FM 720/Main Street. The site will house Victory at Creekside, a mixed-use retail development that will include six pad sites, along with a 6,000-square-foot retail center. Victory anticipates completion of Victory at Creekside by the end of this year. The new retail center is 100 percent leased to tenants such as Fast Lane Car Wash, Jack in the Box, Taco Villa and Kiddie Academy Child Care.

September 28, 2015

Midwest Minnesota Mixed-Use Uncategorized

Opus Group Begins Construction on Mixed-Use Property in St. Paul

by Christina Cannon September 28, 2015

ST. PAUL — The Opus Group has broken ground on a six-story, mixed-use luxury apartment and retail development located on West Seventh Street in St. Paul. The redevelopment replaces an 80-year-old former Seven Corners Hardware store as well as an adjacent church. Demolition work has already occurred. The property will include a combination of 191 studio, one- and two-bedroom units and three-bedroom townhouse-style residences, as well as 11,500 square feet of ground-level retail space. The residential development will include an outdoor courtyard featuring a pool, hot tub, bocce ball and grill areas, as well as a terrace-level patio and club room with river views. Opus Development Company LLC is the developer, Opus Design Build LLC is the design builder and Opus AE Group LLC is the architect and structural engineer. Elness Swenson Graham Architects Inc. is the design architect. The project is scheduled for completion in January 2017.

September 28, 2015

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