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.
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 …
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.
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.
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.
NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use building located at 148 E. 98th St. in Manhattan’s Upper East Side. The asset sold for $6.6 million. The six-story, elevator-serviced property features 11 apartment units and a first-floor office space. Glenn Raff of Alpha Realty represented the seller and buyer in the transaction. The names of the buyer and seller were not released.
TAMPA, FLA. — The Altman Cos. has sold Altis Highland Park, a mixed-use apartment development in Tampa’s Westchase district, for $46 million. Located at 11571 Fountainhead Drive, the development comprises 239 apartment residences and 5,000 square feet of retail space. Utah-based Cottonwood Residential purchased the asset from The Altman Cos., which developed the project in 2014. Altís Highland Park offers studio, one-, two- and three-bedroom floorplans with average monthly rents ranging from $1,193 to $2,028. Community amenities include a poolside lounge with a demonstration kitchen and fireplace, 24/7 club-class fitness center, yoga and aerobics studio with on-demand virtual fitness programs, game center, dog park and private community garden. The main street of Altís Highland Park includes Kahwa Coffee and a self-service auto detail facility. Volume Hair Studio will move in later this year.
NEW YORK CITY — Besen & Associates has brokered the sale of an elevator-served mixed-use building located at 2195 Adam Clayton Powell Blvd. in Manhattan’s Central Harlem neighborhood. The asset sold for $2 million, or $347 per square foot. Built in 1910, the vacant five-story, 5,758-square-foot property features six apartments and one retail unit. Hilly Soleiman of Besen & Associates represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
CEDAR PARK, TEXAS – Riverside Resources has begun construction on the first phase of a 100-acre mixed use campus on Parmer Lane in Cedar Park. The first phase of the campus, called Presidio, will feature 74,000 square feet of office space, a 100-room hotel, 320 urban lofts and 21,000 square feet of retail/restaurant space. The initial phase spans 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. The remaining 74 acres is on the other side of Ranch Trails Court. Presidio will be able to accommodate an office campus with upwards of 500,000 square feet, along with additional lofts, retail and restaurant space. The design’s intent is to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park, with a trail system, local restaurants, a park and a food trailer court. The Phase I office building has been 50 percent pre-leased to American Constructors and will be ready for occupancy in the fall of 2016. In early 2016, Riverside Resources will also move ahead with the other components of the first phase, including a 21,000-square-foot restaurant and retail component it’s developing in partnership with Chris Whitworth and Mauricio Gonzalez Kane of Cordova Real …
CHARLOTTE, N.C. — Crescent Communities is developing a transit-oriented, mixed-use development in Charlotte’s NoDa (North Davidson Arts and Entertainment) district called Crescent NoDa. The project will be located at the planned 36th Street Lynx Blue Line light rail station. Crescent Communities plans to begin construction this month on Crescent NoDa and open the project in 2017, in line with the opening of the city’s light rail extension. Crescent NoDa will feature 344 apartment residences, 7,500 square feet of street-level retail space, an extended platform for the light rail stop, an open plaza, above-ground parking deck and an adjacent commercial parcel, which could include a mixed-use development with up to eight stories in height and 28,000 square feet of additional street-level retail space. Communities amenities will include an outdoor terrace, dog wash station, resident workshop, clubroom, fitness center and private courtyards with a pool, grilling area, green space and fire pits. The project team includes architect Lord Aeck Sargent, landscape architect Land Design and interior designer Vignette Interior Design. Crescent NoDa will be financed with an equity investment by Crescent Communities and debt from Synovus Bank and Citizens Bank. Crescent Communities worked with the NoDa Neighborhood and Business Association in planning …
