Mixed-Use

KPMG SIGNS LEASE AT HALL ARTS IN DALLAS ARTS DISTRICT

by admin April 18, 2013

DALLAS — KPMG LLP, a tax and advisory firm, has signed a long-term lease with Hall Financial Group to be the anchor tenant of the 16-story Hall Arts building. The 450,000-square-foot mixed-use building will be located at 2323 Ross Ave. in the Dallas Arts District. KPMG will be leasing more than one-third of the building. Construction on the Hall Arts building is scheduled to start in September and wrap up in March 2015. The new office will house 1,300 KPMG employees. Carl Ewert and Stephen Holley of Jones Lang LaSalle represented KPMG in the transaction. Hall Financial Group was self-represented by Kim Vincent Butler. The Hall Arts design team includes architect Eddie Abeyta of HKS Inc. and general contractor Turner Construction.

April 18, 2013

OFFICE, CONDO DEVELOPMENT SITE CHANGES HANDS IN SAN FRANCISCO

by admin April 17, 2013

SAN FRANCISCO — A fully entitled, Class A+ office and luxury condominium development site in Downtown San Francisco has sold to Jay Paul Company for an undisclosed sum. The .35-acre site is located at 181 Fremont Street in the city’s South Financial District. The proposed 54-story property will feature 684,000 square feet of luxury residential condominiums atop office space. It will target LEED-Gold certification. The seller, a joint venture between SKS Investments and an institutional investor, was represented by HFF’s Gerry Rohm, Michael Leggett, Holden Lim, Dave Karol and Mark Damiani.

April 17, 2013

Mixed-Use Northeast

$35M OXFORD MILLS BREAKS GROUND IN PHILADELPHIA

by admin April 17, 2013

PHILADELPHIA — Philadelphia-based D3 Real Estate Development, in a partnership with Baltimore-based Seawall Development Co., held a groundbreaking ceremony for the $35 million Oxford Mills – The Center for Educational Excellence today. Oxford Mills is a 160,000-square-foot, mixed-use redevelopment designed specifically to support Philadelphia’s education community. The project will convert a historically certified factory complex bordering both the Northern Liberties and Fishtown neighborhoods into a modern educational hub. Oxford Mills will include 114 one- and two-bedroom apartments, complimentary shared resource/copy centers, fitness center and free on-siteparking. The residences will be available for occupancy in summer 2014. Theproject also features 40,000 square feet of office space created to supporteducational nonprofits and is anchored by Teach for America’s regional headquarters. The commercial space will be available for occupancy beginning April 2014.

April 17, 2013

Mixed-Use Western

OFFICE, CONDO DEVELOPMENT SITE CHANGES HANDS IN SAN FRANCISCO

by admin April 17, 2013

April 17, 2013

Mixed-Use Northeast

EAGLEBRIDGE CAPITAL ARRANGES $2.4M MORTGAGE LOAN

by admin April 15, 2013

PROVIDENCE, R.I. — EagleBridge Capital has arranged a $2.4 million loan for the construction and mortgage financing of 70 Ken-West, located at 70 Kennedy Plaza in downtown Providence. 70 Ken-West is a recently renovated six-story retail and multifamily building. CVS/pharmacy leases the ground floor and basement. The upper five stories of the property will include 17 apartments, 10 of which are completed. Ted Sidel and Brian Sheehan of EagleBridge arranged the mortgage financing. A Massachusetts-based financial institution provided the loan.

April 15, 2013

Mixed-Use Northeast

4,422 SF MIXED-USE BUILDING SELLS FOR $4.7M

by admin April 12, 2013

NEW YORK CITY — Investor Ira Lifshutz has acquired a 4,422-square-foot mixed-use loft building at 57 Grand St., located between West Broadway and Wooster Street, for $4.7 million, or $1,063 per square foot. The four-story building includes the ground-floor bar Toad Hall, which has been at the building for more than 20 years. The seller had owned the building for more than 30 years. Robert Burton of Massey Knakal handled the transaction.

April 12, 2013

Mixed-Use Southeast

CRESCENT BREAKS GROUND ON 63-ACRE ALEXANDER VILLAGE

by admin April 11, 2013

CHARLOTTE, N.C. — Crescent Communities has broken ground on the $33.6 million Alexander Village, a 63-acre mixed-use development in Charlotte's University Research Park. Phase I will include the construction of Crescent Alexander Village, a 320-unit apartment community on Senator Royall Drive, just south of Mallard Creek Church Road. Plans for Alexander Village also include a hotel, up to 75,000 square feet of retail and 250,000 square feet of office. Crescent expects to begin preleasing the apartments this fall and have the first units available for occupancy in early 2014.

April 11, 2013

Mixed-Use Northeast

BERKADIA ORIGINATES $35M LOAN FOR MIXED-USE PROPERTY IN BROOKLYN

by admin April 11, 2013

NEW YORK CITY — Berkadia Commercial Mortgage LLC has originated $35 million in financing for The Chocolate Factory, a mixed-use property located in the Wallabout neighborhood of Brooklyn. The borrower, The Chocolate Factory LLC, will use the loan to refinance its mixed-use facility. The seven-year loan features a 73 percent loan-to-value ratio. The Chocolate Factory, located at 275 Park Ave., was built in 1890 and served as a fully operational chocolate factory until 1967. Yuri Kletsman of Berkadia worked with the borrower to arrange the fixed-rate financing. Kletsman also worked with lender Freddie Mac to arrange the loan.

April 11, 2013

Midwest Mixed-Use

HENDRICKS BEGINS CONSTRUCTION ON $30M IRONWORKS

by admin April 10, 2013

INDIANAPOLIS — Hendricks Commercial Properties has begun construction on a $30 million, mixed-use development dubbed Ironworks at Keystone. The project is located at the southwest corner of Keystone Avenue and East 86th Street, the site of the former Woodfield Centre strip mall. The five-story building will feature 36,000 square feet of ground-floor retail and restaurant space, 120 apartments and an underground parking structure. The development is expected to open in spring 2014.

April 10, 2013

Midwest Mixed-Use

WALTER TOWER REALTY HIRES @PROPERTIES AS LEASING AGENT FOR CHICAGO BUILDING

by admin April 8, 2013

CHICAGO — Water Tower Realty has hired @properties Commercial to lease 26,000 square feet of retail space and 8,000 square feet of office space in the historic Marshall Field & Co. building in downtown Oak Park. The building was built in 1929 as a miniature replica of Marshall Field’s landmark State Street store. Field’s occupied the property until 1986. It was added to the National Register of Historic Places in 1988. Most recently, the retail space was leased to Borders bookstore, which closed in 2011. Dan Stratis and Larry Cohn of @properties Commercial are the leasing agents for the 91,451-square-foot building located at 1144 Lake St.

April 8, 2013

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