Mixed-Use

Joint Venture Receives $233.3M Construction Financing for Hub Knoxville Student Housing Project Near University of Tennessee

by Jeff Shaw August 11, 2023

KNOXVILLE, TENN. — Core Spaces, Schenk Realty and Kayne Anderson Real Estate have received $233.3 million in financing for the construction of Hub Knoxville, a 2,000-bed student housing community in downtown Knoxville adjacent to the University of Tennessee campus. According to the development team, this project would be the largest student housing development in Knoxville’s history. Hub Knoxville comprises 600 units across three towers, including two 10-story buildings and one seven-story building. Units come in studio through five-bedroom layouts. The project will also include an estimated 30,000 square feet of retail space and an 1,800-stall parking garage. Overall, Hub Knoxville spans over 4 acres in “The Strip,” Knoxville’s main hub downtown. Through a partnership with Covenant Health, the parking garage will also provide parking spaces dedicated to the Fort Sanders Regional Medical Center and East Tennessee Children’s Hospital. Construction on Hub Knoxville began this spring. The first phase of the project is slated for completion in fall 2025. The second phase is scheduled to open in 2026. Amenities will include a rooftop pool deck, a courtyard with grilling stations, a spa and fitness center, private study rooms and a coffee shop. Core Spaces and Schenk Realty are co-developers on the …

August 11, 2023

Acquisitions California Hospitality Mixed-Use Office Retail Western

BH Properties Purchases 322,000 SF Anchorage Square Mixed-Use Property in San Francisco

by Amy Works August 10, 2023

SAN FRANCISCO — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. The seller and price were not disclosed. Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage. The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as restaurant and entertainment options. Eastdil Secured brokered the transaction, and Laura Barr of CBRE will lead the repositioning and leasing efforts at the property.

August 10, 2023

Development Mixed-Use New Jersey Northeast

Bedrin Organization Completes Mixed-Use Project in Hawthorne, New Jersey

by Taylor Williams August 10, 2023

HAWTHORNE, N.J. — The Bedrin Organization, a New Jersey-based development and investment firm, has completed Hedges at Hawthorne, a mixed-use project located in the northern part of The Garden State. Hedges at Hawthorne, a transit-served development, consists of 118 Class A apartments, a 120,000-square-foot self-storage facility that is operated by CubeSmart and 16,000 square feet of retail and restaurant space that is leased to Planet Fitness and Per Lei Café. Residential units come in studio, one- and two-bedroom formats, and amenities include a fitness center, coffee bar, rooftop lounge, coworking lounge, salon, pet spa and outdoor grilling and dining stations. Rents start at roughly $2,200 per month for a studio apartment.

August 10, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs New Retail, Restaurant Tenants to Join $1B Greenville County Square Project

by John Nelson August 9, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed three new tenants to join Greenville County Square, a $1 billion mixed-use development coming to downtown Greenville. The new tenants joining the 40-acre development include Pins Mechanical, a duckpin bowling, entertainment and food-and-beverage venue taking 24,366 square feet; Agave Bandido, an authentic Mexican restaurant taking 7,000 square feet; and Fairway Social, a golf-themed entertainment venue and restaurant spanning 9,100 square feet. The tenants are joining a roster that has commitments from Whole Foods Market and The Perch Kitchen & Tap. Other uses include offices for Lima One Capital and a 250,000-square-foot administrative building for Greenville County.

August 9, 2023

Development Mixed-Use Multifamily South Carolina Southeast

Woodfield, Revitate Deliver Mixed-Use Apartment Development at Morrison Yards in Charleston

by John Nelson August 8, 2023

CHARLESTON, S.C. — Woodfield Development has opened Morrison Yards Residences, a mixed-use apartment community located within the larger Morrison Yards master-planned development in Charleston. The property, which features 380 apartments and 27,250 square feet of ground-floor retail space, is located on a five-acre site at 838 Morrison Drive within an opportunity zone. Revitate’s opportunity zone platform RevOz Capital led investment in Morrison Yard, which upon completion will feature a 10-story office building, Kimpton Hotel and 40,000 square feet of retail space, in addition to Morrison Yards Residences. The apartment community includes studios, one-, two- and three-bedroom floor plans, as well as an open-air saltwater pool with sundecks, cabanas, grilling stations and TVs. Other amenities include 1.5 acres of outdoor courtyards, a dog park and a gym with fitness classes. Additionally, the property will be programmed with group gatherings such as wine tastings and cookouts. Rental rates start at $2,264 per month, according to the property website.

August 8, 2023

Development Maryland Mixed-Use Retail Southeast

MAG Partners Debuts Volo Beach Venue at $5B Baltimore Peninsula

by John Nelson August 8, 2023

BALTIMORE — MAG Partners has debuted Volo Beach, a 184,732-square-foot multipurpose sports entertainment venue located at Baltimore Peninsula (formerly Port Covington). The destination is a partnership between the developers of the $5 billion, 235-acre Baltimore Peninsula development, led by MAG Partners, and Volo Sports, a national provider of social and competitive adult sports leagues. Situated on more than four acres near the waterfront, Volo Beach is located directly behind the newly opening 1.1 million square feet of offices, shops, restaurants, apartments and hotels within Baltimore Peninsula. The venue will offer beach volleyball and pickleball courts, in addition to fields for kickball, soccer and flag football. The space features entertainment amenities like picnic tables and cornhole, and visitors will be able to enjoy food and beverages and sometimes live music. The leagues at Volo Beach, including youth leagues, are expected to be in full swing this fall.

August 8, 2023

Development Mixed-Use Oklahoma Texas

Gatehouse Capital Tops Out 132-Room Hotel at OAK Mixed-Use Project in Oklahoma City

by Taylor Williams August 8, 2023

OKLAHOMA CITY — Dallas-based Gatehouse Capital has topped out a 132-room boutique hotel that is part of Phase I of OAK, a 20-acre mixed-used project in Oklahoma City. The first phase also includes 135,000 square feet of retail and restaurant space, 320 apartments and a 7,000-square-foot central green space. Phase II will feature 100,000 square feet of office space and an additional 85,000 square feet of retail space. Full completion is slated for next September. Veritas Development is the master developer of OAK.

August 8, 2023

Development Mixed-Use New York Northeast

United Group of Cos. Begins Sitework on Mixed-Use Project in Troy, New York

by Taylor Williams August 8, 2023

TROY, N.Y. — The United Group of Cos. has begun sitework on City Station North, a mixed-use project that will be located just outside Albany in Troy. City Station North will consist of 87 market-rate apartments, 40,000 square feet of office space and a 160-space covered parking garage on a one-acre site. The office building will rise four stories and house suites starting at 2,500 square feet. Residential units will come in one- and two-bedroom floor plans and range in size from 675 to 1,277 square feet, while residential amenities will include a fitness center, rooftop terrace and a community room. Demolition of existing structures on the site is underway.

August 8, 2023

Acquisitions California Mixed-Use Multifamily Retail Western

CBRE Arranges $3.2M Sale of Mixed-Use Property in Costa Mesa, California

by Amy Works August 8, 2023

COSTA MESA, CALIF. — CBRE has brokered the sale of a mixed-use property located at 2027-29 Harbor Blvd. in Costa Mesa. A private investor acquired the asset from a privately held partnership for $3.2 million, or $425 per square foot. Both parties are based in Orange County. The mixed-use property features 12 residential apartments and street-front retail space spread across four buildings, totaling 7,530 square feet. The three multifamily buildings offer eight studio units, two one-bedroom units and two two-bedroom units. The property also features surface parking, a community laundry room and storage lockers. Additionally, there is a 1,942-square-foot street-front commercial building, occupied by an auto trim business. Dan Blackwell and Mike O’Neill of CBRE represented the seller and buyer in the transaction.

August 8, 2023

Development Features Mixed-Use Western Feature Archive

The Future of Urban Real Estate Is Mixed-Use, 24/7, Outdoors

by Jeff Shaw August 4, 2023

— By Bob Lisauskas, Principal, RDC in Long Beach, Calif. — Daily patterns of life have been turned upside down since 2020. Three years since the disruption of quarantine living, it’s becoming clear what was temporary and what has been permanently changed. The good news: our cities have the potential to come back healthier than ever. Cities are resilient places and are finding ways to adapt and transform. Building owners, municipalities, architects and other stakeholders are actively collaborating on ways to repair the city fabric. While some of these companies and individuals have fled to the suburbs, many are more committed than ever to preserve urban living. This is often because they love the city where they own their property, and are personally motivated to breathe life into the area. Another wrinkle driving urban transformation is the housing crisis. It’s an urgent reality that we need more housing at every price point in our urban centers. This is something that’s of paramount concern, particularly in California, as rents and property values rise. These, along with other trends and market disruptors, are pushing cities toward a primarily mixed-use future in which new developments serve the entire 24-hour cycle: living, working, shopping …

August 4, 2023

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