Mixed-Use

Sugar Hill Capital Sells Hamilton Heights Mixed-Use Building for $25.5M

by Amy Works April 27, 2015

NEW YORK CITY — Sugar Hill Capital Partners has completed the disposition of a mixed-use building located in Manhattan’s Hamilton Heights neighborhood to Galil Management, formerly known as E&M Associates, for $25.5 million. Located at 3621 Broadway, the six-story 65,050-square-foot building features 47 apartments, eight stores and an art studio. Additionally, the building includes 31,175 square feet of air rights. Peter Vanderpool and Lazer Sternhell of Cignature Realty Associates represented both parties in the transaction.

April 27, 2015

Michigan Midwest Mixed-Use

Detroit-Headquartered Business Wins $50M Steel Contract for New Detroit Events Center

by Danielle Everson April 23, 2015

DETROIT — Midwest Steel, a Detroit-headquartered business, has been awarded a $50 million contract for most of the structural steel work for the new Detroit Events Center. To date, the Downtown Development Authority has approved seven contracts worth $85 million, of which Detroit-based and -headquartered businesses have won more than 90 percent, or $78 million. Olympia Development of Michigan has set a target of at least 30 percent Detroit-based and -headquartered business participation in constructing the future home of the Detroit Red Wings. Midwest Steel is a third-generation family business that has been headquartered in Detroit for more than 40 years.

April 23, 2015

Mixed-Use Texas

Mixed-Use Project Planned for Galleria/Uptown District in Houston

by Haisten Willis April 23, 2015

HOUSTON — Tilman J. Fertitta has broken ground on The Post Oak, a mixed-use, master-planned project in Houston combining hotel, office, residential, retail and restaurant offerings in one tower. The new development will be located in the Galleria and Uptown area along West Loop South, with access from Loop 610, Holly Hurst Street and Hallmark Drive. Rising above the 10-acre mixed-use development will be a 35-story tower with an adjacent ballroom. The 650,000-square-foot tower will accommodate 240 hotel rooms, more than 120,000 square feet of boutique office space and 22 apartment units. Amenities will include a two-story spa and salon, restaurants and retail and over 1,000 parking spaces.

April 23, 2015

Mixed-Use New York Northeast

Admiral Capital Group, Four Winds Real Estate Buy Three-Building Mixed-Use Portfolio

by Amy Works April 22, 2015

NEW YORK CITY — Admiral Capital Group and Four Winds Real Estate have acquired a three-building mixed-use portfolio in downtown Manhattan for an undisclosed price. The portfolio features 61 residential units and four commercial units at 106 Ridge St., 118 Ridge St. and 110 Ridge St. The acquisition is Admiral’s first investment in New York City, and it expands Four Winds’ existing multifamily portfolio on the Lower East Side. The seller was a private investor group that owned the properties for more than 30 years. Jarett Kaplus of Admiral and David Schneiderman and Joshua Landau of Four Winds led the transaction teams. The sale was brokered by Eastern Consolidated.

April 22, 2015

Mixed-Use Texas

Community Park Opens at Retail Development in Dallas

by Haisten Willis April 21, 2015

DALLAS — The Park has opened in The Shops at Park Lane. The 10,000-square-foot park includes an open green space, an interactive fountain for kids, along with seating areas, power outlets and free Wi-Fi. Tenants including Starbucks and Zoës Kitchen feature outdoor patios overlooking The Park. The area will host events and activities including yoga, movie nights, live music and more. The Shops at Park Lane is a 33.5-acre mixed-use development.

April 21, 2015

Arizona Mixed-Use Western

Verrado Main Street Near Phoenix Sells for $13M

by Nellie Day April 21, 2015

PHOENIX – Verrado Main Street, a 66,085-square-foot, mixed-use property in the Phoenix submarket of Buckeye, has sold to HCCJ Family GP LLC for $13 million. The retail and office property contains two Class A office buildings, in addition to a retail component that features Bashas’ Grocery, CVS Pharmacy and a mix of smaller tenants. The sale also included two parcels of 6.8 acres that are zoned for future commercial and mixed-use development. The office space is fully leased. The retail space was more than 94 percent leased at the time of sale. The seller, DMB, was represented by CBRE’s Barry Gabel and Chris Marchildon.

April 21, 2015

California Mixed-Use Western

Mixed-Use Building in Berkeley Changes Hands

by Nellie Day April 20, 2015

BERKELEY, CALIF. – A 47,281-square-foot, mixed-use building in Berkeley has sold to an unnamed buyer for an undisclosed sum. The building is located at 2190 Shattuck Ave. It is anchored by a ground-floor Walgreens with creative offices on the second story that are occupied by technology-oriented tenants. The property is situated directly atop the Downtown Berkeley BART station. It is within one block of the University of California at Berkeley. The space was built in 1956 through 1957. It was renovated in 2012. The seller, a partnership between Sansome Pacific Properties and Somera Capital Management, was represented by HFF’s Nicholas Bicardo, Danny Reddin, Steve Golubchik and Brandon Rogoff.

April 20, 2015

Mixed-Use Texas

Kennedy Wilson Arranges Sale of 18.3-Acres in Metro Austin

by Haisten Willis April 17, 2015

AUSTIN, TEXAS — Kennedy Wilson represented the seller in the sale of 18.3 acres located at the corner of Old Farm to Market 2243 W. and North Bagdad Road in Leander. Ernest Brown of Kennedy Wilson represented the seller, Firstmark Credit Union. Bruce Nakfoor, a local real estate developer, was the buyer. The buyer plans to develop a mixed-use complex comprised primarily of retail and multifamily developments. A residential community surrounds the property.

April 17, 2015

Florida Mixed-Use Southeast

Axiom Capital Advisors Brokers $16.5M Sale of Mixed-Use Center in Coral Gables

by John Nelson April 16, 2015

CORAL GABLES, FLA. — Aventura, Fla.-based Axiom Capital Advisors has brokered the $16.5 million sale of Riviera Plaza, a 55,161-square-foot mixed-use development located at 1542 S. Dixie Highway in Coral Gables. Roberto Susi of Axiom Capital represented the buyer, Riviera Holdings Plaza LP, a partnership between Gadinsky Real Estate, Echion USA and 13th Floor Investments. The partnership purchased the asset in an off-market transaction. According to Susi, the new ownership is contemplating repositioning Riviera Plaza to include multifamily housing.

April 16, 2015

Mixed-Use New York Northeast

Affinity Health Plan, Fresenius Medical Care North America Leases Brings Metro Center Atrium to Full Occupancy

by Amy Works April 16, 2015

NEW YORK CITY — Simone Development Cos. has fully leased its new 370,000-square-foot mixed-use complex, Metro Center Atrium in the Bronx. Affinity Health Plan has leased 102,507 square feet at the property and 2,000 square feet of storage space on the Hutch Metro Center campus, and Fresenius Medical Care North America has leased 21,105 square feet at the complex. With these leases the 370,000-square-foot Metro Center Atrium is fully occupied. Retail and healthcare tenants include LA Fitness, Applebee’s, Dunkin Donuts, Children’s Corner, Montefiore Medical Center, Calvary Hospital, Hanger Prosthetics, Parkchester Oral & Maxillofacial Surgery and Ophthalmologist Dr. Eric Wolf. Situated within Simone Development’s Hutchinson Metro Center, Metro Center Atrium features three floors of Class A office and medical space, retail and restaurant space, and a Marriott hotel.

April 16, 2015

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