Mixed-Use

Advance Realty Starts Vertical Construction of Willow14 in New Jersey

by Amy Works April 15, 2015

HOBOKEN, N.J. — Advance Realty has started vertical construction at Willow14, a mixed-use development in Hoboken. Located at the corner of 14th Street and Willow Avenue, the seven-story building will feature 140 apartments, 20,000 square feet of retail space and a four-story, below-grade parking garage. The project’s residential component will feature a mix of studio, one-, two- and three-bedroom units, an outdoor pool, landscaped pool deck, fitness center, outdoor terrace areas with barbecues, bike racks and on-site parking. Completion is slated for first quarter 2016.

April 15, 2015

District of Columbia Mixed-Use Southeast

First-Ever Crowdfunded Real Estate Project Opens in D.C.

by John Nelson April 14, 2015

WASHINGTON, D.C. — Fundrise has announced that the first-ever crowdfunded real estate project has opened in Washington, D.C.’s H Street Corridor. The project is known as Maketto, a communal food and retail market located at 1351 H St. N.E. The property will include a new restaurant from chef Erik Bruner-Yang of Toki Underground in D.C.; a DURKL retail store; gourmet coffee shop; bakery; and outdoor vendor stalls. Fundrise raised $325,000 from 175 individual, unaccredited investors who invested anywhere from $100 to $10,000 into the project. Maketto was not only Fundrise’s first offering when the platform launched in 2012, but the first real estate project in the country to allow investment from individuals online. Since its founding, Fundrise has activated more than 50,000 investors for real estate projects in top markets around the country, including landmark developments such as 3 World Trade Center in Manhattan. For a video on the Maketto project, click here.

April 14, 2015

Mixed-Use New York Northeast

Broadway 152 LLC Purchases 69,876 SF Mixed-Use Property in Manhattan for $27M

by Amy Works April 7, 2015

NEW YORK CITY — Institutional Property Advisors (IPA) has brokered the sale of a mixed-use property located at 3671 Broadway in Manhattan’s Hamilton Heights neighborhood. Broadway 152 LLC purchased the 69,876-square-foot property from G-Way Management LLC for $27 million, or $386 per square foot. Built in 1908, the six-story building features 48 residential units and six ground-level retail spaces. The apartments feature hardwood floors, stainless steel appliances, granite countertops, exposed brick walls and recessed lighting. Peter Von Der Ahe, Scott Edelstein, Joe Koicim, Seth Glasser and Rafi Moskowitz of IPA, a division of Marcus & Millichap, represented the seller in the transaction.

April 7, 2015

2201-2239-South-Clinton-Ave-South-Plainfield-NJ

Mixed-Use New Jersey Northeast

Marcus & Millichap Arranges $2.8M Sale of Mixed-Use Property in New Jersey

by Amy Works April 3, 2015

SOUTH PLAINFIELD, N.J. — Marcus & Millichap has arranged the sale of a mixed-use property located at 2201-2239 South Clinton Ave. in South Plainfield. The 27,225-square-foot retail property sold for $2.8 million. Built in 1981 and situated on two acres, the property features 22,325 of street-level retail and 4,900 square feet of second floor office space. At the time of sale, the property was 82 percent occupied by eleven tenants. Ben Sgambati, Alan Cafiero and Akiva Milgraum of Marcus & Millichap represented the seller, a developer, and the undisclosed buyer in the transaction.

April 3, 2015

Mixed-Use Restaurant Retail Texas

New Tenants Sign on at CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis March 31, 2015

RICHARDSON, TEXAS — Regency Centers has signed several new tenants that will open in 2016 at CityLine Market located in Richardson. Anchored by Whole Foods Market, the new tenant lineup at CityLine includes Taco Diner, Luna Grill, Modmarket, Pei Wei, Smashburger, 18|8 Fine Men’s Salon, Massage Envy Spa, CityLine Dental, The Joint Chiropractic and Luxx Lash’s beauty studio. CityLine Market will serve as the second-largest employment center in the Dallas/Fort Worth metro area with major employers including State Farm Insurance, Raytheon, AT&T, The University of Texas at Dallas, Blue Cross and Blue Shield of Texas, Verizon and Cisco Systems. The mixed-use development will join several million square feet of office space, an Aloft hotel, LOOK Cinema and nearly 4,000 new residential units. The project is located near the George Bush turnpike and within walking distance of the DART light rail stop.

March 31, 2015

California Mixed-Use Western

ACI Commercial Brokers $2M Sale of 10,000 SF Lot in San Diego

by Haisten Willis March 30, 2015

SAN DIEGO — ACI Commercial, a San Diego-based real estate brokerage firm, has arranged the $2 million sale of a 10,000-square-foot lot in the Little Italy section of San Diego. The site, located at 2148 India St., is zoned for mixed-use commercial development. Norm Root of ACI Commercial represented the seller, the Wilson and Stodelle Family trusts, in the transaction. Victor Krebs of Colliers International represented the buyer, HG Fenton Property Co. Teresa McElaney of Chicago Title Co. handled the escrow obligations, and Chicago Title provided title insurance for the transaction.

March 30, 2015

Mixed-Use Restaurant Retail South Carolina Southeast

NAI Avant Brings Retail Portion of Mixed-Use Property in Downtown Charleston to Full Occupancy

by John Nelson March 27, 2015

CHARLESTON, S.C. — NAI Avant has secured retail tenants for all five available suites in The Grand at Midtown, a mixed-use apartment community located at the corner of Meeting and Spring streets in downtown Charleston. King of Pops, a gourmet popsicle company, and an unnamed retailer will join existing retailers Edward Jones, Bull Street Market and CHS Revolution at the property, which was formerly known as Elan Midtown. Phillipa Ward of Arthur Ravenel Commercial Realty represented King of Pops in the 615-square-foot lease transaction. Amanda Reeves of Lee & Associates represented the unnamed retailer in the 1,575-square-foot lease deal. Scott Peevy and Ruth Marie Embler of NAI Avant represented the landlord, Meeting Street Realty Co., in the lease negotiations.

March 27, 2015

Mixed-Use New York Northeast

Kinsey Capital Arranges Sale of Upper East Side Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Kinsey Capital has arranged the sale of a mixed-use property, located at 808 Lexington Ave. in Manhattan’s Upper East Side. An affiliate of ICON Realty Management purchased the property for $9.7 million, or $1,500 per square foot. Fig & Chain occupies the retail portion of the building. Brent Glodowski and James Kinsey of Kinsey Capital were the sole brokers in the transaction.

March 27, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Arranges Sale of East Harlem Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building, located at 2147 Second Ave. in Manhattan’s East Harlem neighborhood. The nine-story building sold for $7.5 million, or $465 per square foot, in an all-cash transaction. The newly constructed 16,128-square-foot property features 16 residential units and 1,950 square feet of ground-level commercial space. Lev Kimyagarov of Cushman & Wakefield represented the seller, while Edmond Levy of Cornerstone Real Estate Investments represented the seller in the transaction. The names of the seller and buyer were not released.

March 27, 2015

Panorama Tower Miami Concrete Pour Foundation

Florida Mixed-Use Multifamily Southeast

Florida’s Largest Single Foundation Poured at Site of $800M Apartment Tower in Miami

by John Nelson March 26, 2015

MIAMI — The site of the 83-story Panorama Tower in Miami spans 14,677 cubic yards, making it Florida’s largest single foundation in history. The continuous concrete pour held last weekend comprised more than 1,200 loads spread out between 175 cement trucks pouring for a consecutive 22.5 hours. Upon completion, Florida East Coast Realty’s Panorama Tower will be the tallest residential tower on the Eastern seaboard south of New York and the tallest building (830 feet) in the state of Florida. The project includes 16 miles of auger cast piles, more than 3,500 tons of reinforcing steel, 13.5 million pounds of cement, 15.3 million pounds of sand, 25.8 million pounds of rock and 495,000 gallons of water. For the $800 million tower, Florida East Coast Realty is using a $340 million construction loan from Wells Fargo, which is the largest construction loan in South Florida. Mosche Cosicher designed the tower to feature a 2,000-car parking garage, 100,000 square feet of medical office space, a 208-room hotel, 50,000 square feet of retail and restaurant space and 64 stories of residential space totaling 821 rooms.

March 26, 2015

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