Mixed-Use

VREP Launches Repositioning of 27-Acre Montville Office Campus

by Amy Works September 1, 2015

MONTVILLE, N.J. — Vision Real Estate Partners (VREP) has launched the repositioning of Montville Corporate Campus, an office campus located at 340-342 Changebridge Road in Montville. VREP plans to convert one of the twin 100,000-square-foot office buildings into a multi-tenant building and rezone half the campus for residential use. The company plans to replace the front of the three-story travertine marble office building with a stone and glass curtain wall system. Interior renovations will include a two-story atrium lobby featuring stone, millwork, upgraded lighting and lounge seating with a coffee bar, as well as a town hall-style conference area in extended third-floor space. Additional renovations include refinished elevators, bathrooms and other common area upgrades throughout the building. The company has partnered with Mill Creek, a high-end multifamily specialist, for the residential development.

September 1, 2015

California Mixed-Use Retail Western

Vallco Shopping Mall to Become $3B Development Project

by Nellie Day August 31, 2015

CUPERTINO, CALIF. — Sand Hill Property Co. has announced plans to transform Vallco Shopping Mall into The Hills at Vallco, a mixed-use town center. The $3 billion redevelopment will completely transform the property into 2 million square feet of office space and mixed-use buildings, including 680 market-rate apartments, 80 affordable housing units and 40 apartments for seniors. The development will also be home to a 3.8-mile trail network for jogging and walking, vineyards, orchards, organic gardens and an amphitheater. Retail, restaurants and entertainment, including an AMC Theater, bowling, ice-skating, and fitness and banquet facilities will be part of the project. The Hills at Vallco will also feature a 30-acre rooftop community park with a nature preserve.

August 31, 2015

Mixed-Use Multifamily New York Northeast Retail

Treetop Development Sells 12-Building Multifamily Portfolio for $35M

by Amy Works August 31, 2015

NEW YORK CITY — Treetop Development has completed the sale of a 12-building multifamily portfolio located in Manhattan’s Morningside Heights neighborhood. The portfolio consists of five-story, walk-up apartment buildings featuring a total of 123 residential units and four commercial spaces. Novel Property Ventures acquired the assets for $35 million. The properties include 222 St. Nicholas Ave.; 2268 and 2500 Frederick Douglass Blvd.; 262 W. 115th St.; and 234-262 W. 122nd St. Steven Vegh of Westwood Realty Associates served as broker for both parties in the transaction. Teaneck, N.J.-based Treetop Development originally purchased the properties in 2013 for $22 million.

August 31, 2015

Mixed-Use Multifamily New York Northeast Office Retail

Marcus & Millichap Arranges $1.3M Sale of Land Parcel in Brooklyn

by Amy Works August 31, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of a land parcel located at 64 Stanhope St. in Brooklyn. The 3,127-square-foot parcel sold for $1.3 million, or $200 per buildable square foot, in a 1031 exchange. Shaun Riley, Thomas Shihadeh and Daniel Greenblatt of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, while Makan Mostafavi of Marcus & Millichap’s office in Encino, Calif., represented the buyer, a limited liability company, in the transaction.

August 31, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $7.3M Sale of Mixed-Use Portfolio

by Amy Works August 28, 2015

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a two-building, mixed-use portfolio located at 667 E. 187th St. and 1704 Van Buren St. in the Little Italy and Van Nest neighborhoods of the North Bronx. The properties, which total 36,750 square feet, sold for $7.3 million, or $200 per square foot, in an all-cash transaction. The five-story walk-up buildings feature 39 apartment units and six ground-floor commercial units. The residential mix includes 17 one-bedroom units, 21 two-bedroom units and one three-bedroom apartment. Karl Brumback and Nick Burns of Cushman & Wakefield handled the transaction.

August 28, 2015

Mixed-Use Multifamily New York Northeast Retail

GFI Realty Arranges $16M Acquisition of Washington Heights Mixed-Use Property

by Amy Works August 27, 2015

NEW YORK CITY — GFI Realty Services has arranged the acquisition of a mixed-use property located at 3750 Broadway in Manhattan’s Washington Heights neighborhood. A Miami-based investor purchased the property for $16 million from Monarch Realty Holdings LLC. The elevator building features 32 residential apartments and four ground-floor retail units. Ohad Babo of GFI Realty represented the seller, while Roni Abudi, also of GFI, represented the buyer in the transaction.

August 27, 2015

Florida Loans Mixed-Use Southeast

Citigroup Arranges $60M Refinance of Weston Town Center in Broward County

by John Nelson August 27, 2015

WESTON, FLA. — Citigroup’s CMBS & commercial real estate finance office has arranged the $60 million refinancing of Weston Town Center, a retail and office campus in Weston. Anchored by Publix, the property is located at 2000 Main St. in South Florida’s Broward County. Michael Cohen of Citigroup arranged the 10-year, fixed-rate loan on behalf of the undisclosed borrower.

August 27, 2015

Anthem on Ashley Atlanta Old Fourth Ward

Georgia Mixed-Use Southeast

North American Properties Breaks Ground on Mixed-Use Project in Atlanta’s Old Fourth Ward

by John Nelson August 27, 2015

ATLANTA — North American Properties (NAP) has begun construction on Anthem on Ashley, a 245-unit luxury apartment community in Atlanta’s Old Fourth Ward neighborhood. The property will front Historic Fourth Ward Park and will be situated a short walk from the Atlanta Beltline’s Eastside Trail. The property will feature 6,000 square feet of ground-level retail and commercial space that will house a restaurant and coffee shop. Anthem on Ashley’s amenity package will include a resort-style pool, fitness center, clubroom, business center and a rooftop terrace. NAP expects to deliver the project in early 2017.

August 27, 2015

Mixed-Use Retail Texas

Weitzman Negotiates Sale of Mixed-Use Development in Metro Dallas

by Haisten Willis August 26, 2015

RICHARDSON, TEXAS — The Weitzman Group has negotiated the sale of The Shire, an 83,000-square-foot mixed-use retail and office project located at President George Bush Turnpike and Jupiter Road in Richardson. A local investment group formed by Huey Investments and Standridge Cos. was the buyer. Restaurateur Dale Wamstad was the seller. Eddie Liebman and Joey Keffler with The Weitzman Group handled negotiations. The Shire features restaurants as well as service and office users. Restaurants in the retail space include Silver Fox Steakhouse, Ye Shire Tavern, Main Street Bistro/Bakery, Thai’s Thumbz Urban Kitchen and Apollonia’s Italian Kitchen. Other tenants include Bright Horizons Child Care and Republic Title.

August 26, 2015

District of Columbia Loans Mixed-Use Southeast

Douglas Development Secures $93.5M Loan for Mixed-Use Development in D.C.

by John Nelson August 26, 2015

WASHINGTON, D.C. — Douglas Development Corp. (DDC) has secured $93.5 million in construction financing for Uline, DDC’s mixed-use development in Washington, D.C. The development will be located at 1140 3rd St. N.E. directly across from the NoMa-Gallaudet U Metro station. Upon completion in the fall of 2016, Uline will feature 174,000 square feet of loft office space with rooftop decks and 70,000 square feet of retail space, including a 51,000-square-foot REI. The $93.5 million financing includes a $75.5 million construction loan from Natixis Real Estate Capital and $18 million in preferred equity from EB5 Capital. The financing represents roughly 75 percent of the Uline’s total construction cost, and DDC will provide the remaining balance with sponsor equity. For EB5 Capital’s portion, 36 immigrant investors each contributed $500,000, making them eligible to apply for permanent U.S. residency through the EB-5 Immigrant Investor Program. Phillips Realty Capital is EB5 Capital’s joint venture partner. The Uline project is expected to create roughly 450 jobs.

August 26, 2015

Newer Posts

Older Posts