Mixed-Use

Office America, Avanti Way Break Ground on Deco Green Mixed-Use Project in South Florida

by John Nelson October 19, 2023

LAKE WORTH BEACH, FLA. — Two South Florida-based firms, Office America Group and Avanti Way Group, have broken ground on Deco Green, a mixed-use development in Lake Worth Beach. Located at 1715 N. Dixie Highway in Palm Beach County, the four-building property will comprise 125 residential units, 8,000 square feet of commercial space and 15,000 square feet of open green space. The property’s residences will be configured in one-, two- and three-bedroom floor plans ranging in size from 655 to 1,320 square feet. Amenities will include a rooftop lounge, modern fitness center, bike storage, playground and a dog park. The design-build team includes general contractor MGM Construction Group, architect Martin Architectural Group and landscape architect Andres Montero. Office America and Avanti Way expect to deliver Deco Green in first-quarter 2025.

October 19, 2023

Development Illinois Midwest Mixed-Use

Heartland Real Estate Partners Underway on 30-Acre Mixed-Use Redevelopment Project in Crystal Lake, Illinois

by Kristin Harlow October 19, 2023

CRYSTAL LAKE, ILL. — Developer Heartland Real Estate Partners is underway on Water’s Edge, a mixed-use redevelopment project in the Chicago suburb of Crystal Lake. The 30-acre project will transform a former shopping center that used to anchored by Walmart before the retailer relocated in town. Plans call for 40,000 square feet of commercial space, 260 multifamily units, public open spaces and a direct connection to Three Oaks Recreation Area. A timeline for completion was not provided.

October 19, 2023

Development District of Columbia Hospitality Mixed-Use Office Southeast

The RMR Group Completes Redevelopment of 20 Mass Mixed-Use Building in D.C.

by John Nelson October 17, 2023

WASHINGTON, D.C. — The RMR Group has completed the redevelopment of 20 Mass, a mixed-use building located at 20 Massachusetts Ave. in Washington, D.C. Office Properties Income Trust, an affiliate REIT of RMR Group, owns 20 Mass. The former government office building now houses the 274-room Royal Sonesta Washington, D.C. Capitol Hill hotel, which includes the new 200-seat French restaurant Bistro Du Jour; 183,000 square feet of upper-level office space; a 14,500-square-foot penthouse amenity space; and 13,800 square feet of retail space. The LEED Gold-certified property also features a new glass curtain wall façade and a 10-story atrium. The design-build team includes general contractor DPR Construction and architect Leo A. Daly. CBRE is the exclusive office leasing broker at 20 Mass, and JLL is responsible for retail leasing.

October 17, 2023

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Brokers $6.6M Sale of Midtown Manhattan Mixed-Use Building

by Taylor Williams October 17, 2023

NEW YORK CITY — Marcus & Millichap has brokered the $6.6 million sale of a 6,216-square-foot mixed-use building located at 60 W. 45th St. in Midtown Manhattan. The building was originally constructed in 1920 and comprises seven units that feature a mix of commercial and residential uses. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap represented the undisclosed seller in the transaction. The trio also procured the buyer, an entity doing business as Borgetto PNA Inc.

October 17, 2023

California Development Life Sciences Mixed-Use Office Retail Top Stories Western

UC Berkeley, SKS Partners Unveil Plans for $2B Innovation Hub at NASA Research Park in California

by Katie Sloan October 17, 2023

MOUNTAIN VIEW, CALIF. — A joint venture between SKS Partners and the University of California, Berkeley has unveiled plans for a $2 billion innovation hub at NASA’s Ames Research Center in the Silicon Valley city of Mountain View. Plans for the 36-acre development, dubbed Berkeley Space Center, currently include 1.4 million square feet of Class A office and research and development space; wet and dry labs; conference space; academic facilities; retail space; and 18 acres of open green space, including outdoor working yards and a central green for community gatherings, activations and exhibitions. The focus for the development is to provide research space for companies interested in collaborating with the university and NASA scientists to create future innovations in aviation and space exploration. Later phases of the project are set to include short-term stay facilities and student and faculty housing. While the development has not yet received municipal approval, the environmental entitlement process has commenced and is expected to last approximately two years. Construction is tentatively scheduled to begin in 2026. The development team for Berkeley Space Center includes design, architecture and engineering firm HOK and urban design and landscape architecture firm Field Operations. The joint venture has also tapped …

October 17, 2023

Development Leasing Activity Mixed-Use North Carolina Restaurant Retail Southeast

MPV Opens Chick-fil-A, Plans New Construction at Farmington Development in Metro Charlotte

by John Nelson October 16, 2023

CHARLOTTE AND HARRISBURG, N.C. — MPV Properties has announced the addition of new tenants and buildings underway at Farmington, the developer’s master-planned community located in Charlotte and Harrisburg. Chick-fil-A opened at the property in May, and Famous Toastery is planning to open in the second half of 2024 within an outparcel behind the development’s Shop Building I. H.T. Fuel will also open on an outparcel, with construction scheduled to begin directly behind Chick-fil-A in the coming months. Construction is also scheduled to begin on Small Shops II, an 11,865-square-foot retail building. MPV is in negotiations with two tenants to fully occupy the building. The developer has also announced plans for three additional commercial buildings totaling 27,000 square feet, with development expected to begin in early 2024. Additionally, Woodfield Development is nearing completion of The Stead at Farmington, a 275-unit apartment community within Farmington. Upon completion, Farmington, which will also feature for-sale residences, will comprise 600 homes and 275,000 square feet of retail space.

October 16, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

Lincoln Property Co. Arranges Five Leases at Church Street Market in Downtown Orlando

by John Nelson October 16, 2023

ORLANDO, FLA. — Lincoln Property Co. (LPC) has arranged leases with five new tenants at Church Street Market, the 72,000-square-foot retail portion of the 55 West mixed-use property in downtown Orlando. Restaurants Birria 1983, The Bao Spot and BluWave Sushi will occupy 3,800; 2,100; and 3,000 square feet, respectively. Additionally, SAK Comedy Lab will open a 7,200-square-foot venue, and Luxe Med Spa has leased 3,800 square feet. Each of the tenants is scheduled to open before the end of the year. The new leases bring Church Street Market, which was built in 2006, to 91 percent occupancy. Aaron Dan and Kathy Bonini of LPC represented the landlord, Hasta Capital, in the lease negotiations.

October 16, 2023

Affordable Housing Development Mixed-Use Multifamily Restaurant Retail Utah Western

Crandall Capital to Break Ground on 320,000 SF Studio Crossing Mixed-Use Project in Park City, Utah

by Amy Works October 16, 2023

PARK CITY, UTAH — Crandall Capital is set to break ground on Studio Crossing, a mixed-use development in Park City, in late October. Spanning 320,000 square feet, Studio Crossing will feature 208 affordable housing units, approximately 100 townhomes and condominiums, retail, dining and open-air public spaces. With the first phase of the development slated for completion in 2025, Studio Crossing will add an entirely new neighborhood to Park City, while also providing eco-conscious solutions throughout its buildout. At full build out, the project will include: The project team includes Steed Construction as general contractor and Modern Out West as lead architect.

October 16, 2023

California Loans Mixed-Use Multifamily Retail Western

BWE Arranges $32.6M Loan for First Street Village Mixed-Use Development in Burbank, California

by Amy Works October 11, 2023

BURBANK, CALIF. — BWE has secured a $32.6 million loan to provide first mortgage financing for First Street Village, a six-story, mixed-use development in Burbank. Steve Perricone and Tom Mazlo of BWE originated the loan from a correspondent life company on behalf of the borrower, a regional private investment firm. First Street Village features 94 studio, one-, two- and three-bedroom units and 6,100 square feet of fully leased commercial space. Units feature quartz countertops, Energy Star-rated appliances, European cabinetry, nine-foot ceilings and in-unit washers/dryers. Community amenities include an outdoor swimming pool, a fitness center, spa, sundeck, business center and landscaped courtyard. The loan has a 15-year term with a 30-year amortization and is open to prepayment at par after nine years. The borrower used the proceeds to pay off an existing high-interest construction loan.

October 11, 2023

Development Industrial Mixed-Use North Carolina Office Southeast

St. John Properties to Develop 165,000 SF Mixed-Use Community in Wake Forest, North Carolina

by John Nelson October 11, 2023

WAKE FOREST, N.C. — St. John Properties has purchased a 30-acre site in Wake Forest, about 13 miles north of Raleigh. The Baltimore-based developer plans to build Wake Forest Exchange, a 165,000-square-foot mixed-use business community comprising flex, research-and-development (R&D), office and retail space. Phase I will include two flex/R&D buildings spanning approximately 95,000 square feet, a 25,000-square-foot office building and a 10,000-square-foot retail building. The remaining flex/R&D and retail buildings will be phased based on leasing pace, with the goal of executing St. John Properties’ entire development plan by 2027. Wake Forest Exchange is expected to support nearly 500 jobs at final build-out and leasing. Jay Taylor of SVN Tar Heel Commercial Realty Inc. represented the unnamed seller in the land sale, and St. John Properties was self-represented.

October 11, 2023

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