Mixed-Use

Waterton Associates Acquires Pensacola Place Apartments on Chicago’s North Side

by Danielle Everson April 30, 2015

CHICAGO — Waterton Associates LLC has acquired Pensacola Place, a 264-unit mixed-use property in Chicago’s Uptown neighborhood. The seller was undisclosed. Built in 1981, the Stanley Tigerman-designed building includes a mix of studio, one- and two-bedroom apartments, as well as 12 two-bedroom townhomes overlooking the property’s fourth-level sundeck. The property includes more than 81,000 square feet of retail space anchored by a recently renovated Jewel-Osco grocery store on the lower level of the building. Waterton will make upgrades to individual residences and also plans to update the community’s common areas. Waterton will serve as the manager for the property.

April 30, 2015

Odenton Meade Center All American Steakhouse & Sports Theatre

Maryland Mixed-Use Southeast

Baybridge Properties Breaks Ground on Mixed-Use Project in Metro Baltimore

by John Nelson April 30, 2015

ODENTON, MD. — Baybridge Properties has kicked off construction on Phase I of Meade Center, a mixed-use project in Odenton, roughly 20 miles south of Baltimore. Phase I comprises the All American Steakhouse & Sports Theatre, which is slated for a fall 2015 opening. Phase II includes a 29,800-square-foot center with roughly 14,300 square feet of ground-level retail space and 15,500 square feet of second-floor office space. Phase II is expected to be completed by the second quarter of 2016. Klein Enterprises/Metropolitan Management LLC will lease the asset. The Meade Center location in Odenton will be All American Steakhouse & Sports Theatre’s eighth location, according to owners George Jones and Brock Anderson.

April 30, 2015

Atlanta Braves SunTrust Park Omni Atlanta Northwest Hotel

Georgia Hospitality Mixed-Use Southeast

New Omni Hotel Will Anchor Mixed-Use Campus Adjacent to Atlanta Braves’ SunTrust Park

by John Nelson April 29, 2015

ATLANTA — The Atlanta Braves and Omni Hotels & Resorts have partnered to develop a new Omni hotel in the mixed-use development adjacent to SunTrust Park in Cobb County. Known as the Omni Atlanta Northwest Hotel, the property will span 16 floors and feature 260 guest rooms. The hotel will comprise 12,500 square feet of meeting space, a signature restaurant and an elevated pool deck and bar overlooking the plaza and ballpark. Groundbreaking for the Omni Atlanta Northwest Hotel is expected to occur later this year. The Dallas-based hospitality company has 60 hotels and resorts in the top markets across the U.S., including the Omni Atlanta Hotel at CNN Center. SunTrust Park is set to open by April 2017 and will be the new home to the Atlanta Braves.

April 29, 2015

Georgia Mixed-Use Restaurant Retail Southeast

Redstone Brings Retail Portion of 315 W. Ponce in Decatur to Full Occupancy

by John Nelson April 29, 2015

DECATUR, GA. — Redstone Investments has brought the retail portion of its mixed-use property in Decatur to full occupancy. The development is located at 315 W. Ponce de Leon Ave. and includes 10,000 square feet of street-level retail space, a 125,000-square-foot office building, shared parking deck and new multifamily residences. The property’s retail tenant roster includes Highland Bakery, Taziki’s and Orangetheory Fitness. The mixed-use project was jointly planned by Redstone Investments and Carter. The first phase of the residential component above the retail was completed in December 2014 and was 100 percent occupied within weeks of delivery. The final phase of the residential development will be completed this summer. Steve Wohl of Oakhurst Realty is the leasing agent for the property.

April 29, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

HFF Arranges $360M in Financing for Development of Midtown Manhattan Condo Tower

by Amy Works April 29, 2015

NEW YORK CITY — HFF has arranged $360 million in financing for the development of 100 East 53rd Street, a luxury condominium project in Manhattan’s Midtown East neighborhood. The construction loan was arranged for a joint venture between RFR Holdings LLC and Vanke Holdings LLC/China (HK) Asset Management Co. Ltd. through the Industrial and Commercial Bank of China. The 61-story tower will feature 94 for-sale residences, as well as ground- and second-floor retail and restaurant space. Slated for completion in 2017, the Foster + Partners-designed property will offer studio, one-, two-, three- and four-bedroom floor plans, a swimming pool, sauna, steam room, fitness center, yoga room, Pilates studio, massage/spa treatment rooms, lounge, media room and concierge services. Hines is serving as co-developer of the project along with RFR Holding LLC. Compass and Classic Marketing are handling sales and marketing for the project. Mike Tepedino, Michael Gigliotti and Jennifer Keller of HFF represented the borrower in the financing.

April 29, 2015

Mixed-Use New York Northeast

Marcus & Millichap Brokers $10.1M Sale of Mixed-Use Property in West Harlem

by Amy Works April 29, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of a mixed-use building located at 2070 Frederick Douglass Blvd. in New York City’s West Harlem neighborhood. Prince Street LLC purchased the six-story building for $10.1 million, or $667 per square foot, from 2070 Uptown LLC. The property features 16 residential units and two commercial spaces. Peter Von Der Ahe, Scott Edelstein, Seth Glasser and Brett Garson of Marcus & Millichap represented both parties in the transaction.

April 29, 2015

Midwest Missouri Mixed-Use Retail

St. Louis RSA Contracts with Kwame for Project Management Support on Proposed NFL Stadium

by Danielle Everson April 28, 2015

ST. LOUIS — The St. Louis Regional Convention and Sports Complex Authority (RSA) has contracted Kwame Building Group Inc. (KWAME) to provide project management support to John Loyd, RSA’s developer’s representative, for the proposed NFL stadium on the St. Louis riverfront. The RSA contracted John Loyd as its developer’s representative to consult on stadium design and construction. The Hunt Construction Group/Clayco (HCKL) construction management team will report to Loyd. Hunt Construction, in association with Kwame Building Group, served as the design-build contractor on the $270 million Busch Stadium in downtown St. Louis, with Loyd as the owner’s representative. Construction of the new stadium would create more than 5,000 construction jobs over a four-year period, in addition to retaining a major regional employer and more than 2,400 game-day jobs.

April 28, 2015

Mixed-Use Texas

Trademark Property Co. Rebrands Mixed-Use Development in Metro Dallas

by Haisten Willis April 28, 2015

CEDAR HILL, TEXAS — Trademark Property Co., the operating partner for Uptown Village at Cedar Hill, has announced the 610,000-square-foot shopping center will be rebranded as Hillside Village. The new name and corresponding new brand were selected to reflect the garden-like look and feel planned as part of a multi-million dollar property renovation to attract a broader trade area, and to pay homage to the community in which it lies. Planned improvements to Hillside Village include enhanced entrances, public spaces and vehicular access, upgraded landscaping, façade improvements, a new children’s play area, new amenities for adults and children, and new signage throughout the property. Hillside Village currently includes 350,000 square feet of specialty stores and restaurants. Anchor retailers are Barnes & Noble, Dillard’s and Dick’s Sporting Goods along with 31,000 square feet of office space. The center features more than 65 tenants including Charming Charlie, Chico’s, H&M (opening this fall) Hollister, James Avery, Old Navy, Papaya, The Children’s Place and Victoria’s Secret.

April 28, 2015

Mixed-Use Northeast Pennsylvania Retail

New Retailers Added at Metro Development Co.’s Valley Gate in Warrington

by Amy Works April 28, 2015

WARRINGTON, PA. — Metro Development Co. has added new tenants to the roster at Valley Gate, the under-construction mixed-use development in Warrington. Buffalo Wild Wings, Darianna Bridal & Tuxedo, General Nutrition Center (GNC), Hair Cuttery, Luxury Nails, McDonald’s, Pet Valu, Red Robin, U-Swirl Yogurt and VisionWorks are now opened or expected to open at the Walmart-anchored center during the second and third quarter of this year. Metro Development broke ground on the 67-acre development in fall 2013. Upon completion, the development will feature a hotel, a 155,000-square-foot Walmart Supercenter, a freestanding McDonald’s, and Warrington Pointe, an 81-unit townhome community constructed by Pulte Home Builders. The Walmart is slated for completion this fall and the commercial center will be fully opened for business prior to the opening of Walmart. US Realty Associates Inc. is exclusive leasing agent for the property.

April 28, 2015

Loans Mixed-Use New York Northeast

Madison Realty Capital Provides $34M Loan for Manhattan Mixed-Use Building

by Amy Works April 27, 2015

NEW YORK CITY — Madison Realty Capital has provided $34 million in financing for the acquisition and renovation of a mixed-use residential and retail building in Manhattan’s Chelsea neighborhood. The loan provides $29 million in immediate acquisition funding and $5 million for planned renovations. Located at 125 West 16th St., the 39,504-square-foot building features 40 residential units and two ground-floor retail units. The name of the borrower was not released.

April 27, 2015

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