Mixed-Use

Marcus & Millichap Arranges Sale of 20,000 SF Mixed-Use Building in Chicago

by Jonathan Mehall August 6, 2015

CHICAGO — Marcus & Millichap has brokered the sale of a 20,000-square-foot mixed-use building for $1.9 million at 3801 N. Bernard St. in Chicago. The property is located in Chicago’s Irving Park neighborhood. The area offers convenient access to the Chicago Transit Authority’s Blue Line train. The Abbey Pub & Grill is the major tenant of the building. Jacob Korman and Kyle Stengle of Marcus & Millichap’s Chicago office represented the seller, a private investor. Stengle and Korman also secured the buyer, a limited liability company.

August 6, 2015

Mixed-Use Retail Texas

Trademark Property Co. Signs New Tenants for Waterside Mixed-Use Development

by Haisten Willis August 6, 2015

FORT WORTH, TEXAS — Eight new tenants are set to join Trademark Property Co.’s 63-acre Waterside mixed-use development, which is currently under construction at Bryant Irvin Road and Arborlawn Drive along the Trinity River in Fort Worth. More than 20,000 square feet of new retail and restaurants, along with anchor tenant Whole Foods Market, will open as part of the center’s first phase. The new tenants include Taco Diner, a Mexico City-style taqueria, which will open a 3,900-square-foot restaurant; Zoës Kitchen, a fast casual restaurant concept serving Mediterranean-inspired dishes, which will open a 2,800-square-foot restaurant; Blaze Pizza, a counter-serve pizzeria, which will open a 2,800-square-foot restaurant; Sleep Train, a top mattress retailer, which will open a 3,602-square-foot location. The lineup of new tenants also includes Massage Heights, Envy Nails, Amazing Lash Studio and Pretty Kitty. Construction on Waterside’s first phase began in 2014 and is slated for completion in late spring 2016. Phase I will also include 375 multifamily units built by Transwestern Development Co.. At full build out, Waterside will include 200,000 square feet of retail space and riverside restaurants, 800 multifamily units and two or three hotels.

August 6, 2015

Marymount University Ballston Center Campus

Loans Mixed-Use Southeast Virginia

HFF Arranges $62.5M Construction Loan for Mixed-Use Tower in Metro D.C.

by John Nelson August 6, 2015

ARLINGTON, VA. — HFF has arranged $62.5 million in financing for the development of the leasehold interest in 1008 North Glebe, a planned 15-story, 267-unit apartment and retail tower in Arlington, a northern Virginia suburb of Washington, D.C. The Shooshan Co. will develop the Class A property on Marymount University’s Ballston Center Campus, located at the intersection of North Glebe Road, North Fairfax Drive and I-66 in the Rosslyn-Ballston Corridor. Adjacent to the new project will be a 165,000-square-foot classroom/office building owned by Marymount University. The combined project is slated for a spring 2017 completion. Sue Carras, Walter Coker and Brian Crivella led HFF’s debt placement team to arrange the construction loan through SunTrust Bank.

August 6, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $15.8M Sale of Mixed-Use Building in Manhattan

by Amy Works August 6, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building located at 5008 Broadway in Manhattan’s Inwood neighborhood. The six-story property sold for $15.8 million, or approximately $325 per square foot, in an all-cash transaction. The 48,576-square-foot property features five retail units and 47 residential units in a mix of one-, two- and three-bedroom layouts. Robert Shapiro of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.

August 6, 2015

Market Reports Midwest Midwest Market Reports Mixed-Use Wisconsin

Proposed New Arena for Milwaukee Bucks Could Lead to Development Run

by Jeff Shaw August 6, 2015

An article highlighting the fortunes of the Milwaukee Bucks that appeared July 6 on CBSSports.com couldn’t be more accurate. “There’s something powerful and sustainable growing in Milwaukee, rising out of the weeds of small-market irrelevance and into a team you’re going to want to watch next season,” wrote Matt Moore who covers the NBA. Since New York hedge fund investors Wes Edens and Marc Lasry purchased the Bucks last year for $550 million, the team has been on the rise. Founded as an expansion team in 1968, the Bucks went from being the worst team in the league during the 2013-14 season to the sixth seed in the 2014-2015 playoffs. The new owners, along with former owner Herb Kohl, have committed $250 million for the construction of a new $500 million arena as a replacement for the team’s current home, BMO Harris Bradley Center, which opened in 1988. But if the new arena is not built by the 2017 season, Milwaukee could be left without an NBA team. Once complete, the entire development, which would sit on approximately 30 acres in the Park East corridor, could include up to 3 million square feet of office, entertainment, retail, residential and hotel …

August 6, 2015

Mixed-Use Office Texas

Texas Children’s Pediatrics Signs on at Mixed-Use Development in Houston

by Haisten Willis August 4, 2015

HOUSTON — Texas Children’s Pediatrics has agreed to open a new pediatric center in The Boardwalk at Towne Lake in Houston. Texas Children’s Pediatrics will occupy the top floor of one of the four Boardwalk buildings. Located off Highway 290 and Barker Cypress Road, the mixed-use waterfront development offers retail and restaurant spaces, as well as a central green area for events and boat slips for lake access. The Boardwalk at Towne Lake serves as an amenity the 3,000 residents of Towne Lake, a 2,400-acre master planned community connected by a 300-acre recreational lake. Texas Children’s Pediatrics is the largest pediatric primary care network in the country with 50 practices throughout the Houston area. Boardwalk at Towne Lake’s four buildings feature 40,000 square feet of waterfront office space and 60,000 square feet of retail space.

August 4, 2015

Georgia Mixed-Use Southeast

The Elrod Group Brokers $2.9M Sale of Mixed-Use Project in Athens

by John Nelson August 3, 2015

ATHENS, GA. — The Elrod Group, a division of Coldwell Banker Commercial Upchurch Realty, has brokered the $2.9 million sale of Franklin House, a 21,000-square-foot mixed-use building located at 480 E. Broad St. in Athens. Built in 1845, the Franklin House encompasses 3,100 square feet of retail space, 5,700 square feet of office space and seven apartment residences. Brian Elrod and Daniel Bennett of The Elrod Group represented both the seller and the buyer in the transaction.

August 3, 2015

Midwest Minnesota Mixed-Use

Fairbridge to Develop 86,764 SF Build-to-Suit Industrial Property in Coon Rapids, Minn.

by Jonathan Mehall July 31, 2015

COON RAPIDS, MINN. — Fairbridge Properties has unveiled plans for the development of an 86,764-square-foot build-to-suite office and industrial building located at 8840 Evergreen Blvd. NW in Coon Rapids, approximately 15 miles north of Minneapolis. The project costs were undisclosed. The project will take place on the same property that is occupied by a 261,805-square-foot building that is 100 percent leased and owned by Fairbridge. Honeywell Aerospace and Boston Scientific are tenants of the existing property. The space is used for research, development and light manufacturing. The new building will be equipped with several 9-by-10-foot insulated loading dock doors and manual dock levelers and dock seals. Construction is scheduled to begin late this year. Dan Friedner and Jay Chmieleski of Colliers International’s Minneapolis-St. Paul office were retained to market the building to prospective tenants.

July 31, 2015

Michigan Midwest Mixed-Use

KJ Commercial Represents Buyer in Sale of 13,433 SF Mixed-Use Building in Dearborn, Mich.

by Jonathan Mehall July 31, 2015

DEARBORN, MICH. — KJ Commercial Real Estate Advisors represented Real Estate 1000 LLC in the acquisition of a 13,433-square-foot mixed-use building located at 22085-22091 Michigan Ave. in Dearborn, a western suburb of Detroit. The seller was undisclosed. The property sold for $950,000 and was 100 percent occupied at the time of purchase. Tenants include Bailey’s Sports Grille, Salon West Dearborn, and a Don Yeyo Cigar Factory. Kevin Jappaya of KJ Commercial represented the buyer in the transaction.

July 31, 2015

Georgia Mixed-Use Southeast

Franklin Street Brokers $5.9M Sale of Mixed-Use Asset in Metro Atlanta

by John Nelson July 31, 2015

WOODSTOCK, GA. — Franklin Street Real Estate Services has brokered the $5.9 million sale of a mixed-use asset in downtown Woodstock, a northern suburb of Atlanta. Built in 2014, the Class A property features 23 apartment residences and 8,624 square feet of retail space. Jake Reid and Ricky Jones of Franklin Street represented the undisclosed seller in the transaction.

July 31, 2015

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