Mixed-Use

Third & Urban, FCP to Add Four New Concepts to Westside Paper Project in Atlanta

by John Nelson October 17, 2022

ATLANTA — Third & Urban and FCP have announced the addition of four tenants to the 15-acre Westside Paper development located along the Atlanta BeltLine in Westside Atlanta. Currently under development and scheduled to open in early 2023, Westside Paper, which is centered around a historic 1950s paper warehouse, features 245,000 square feet of mixed-use space. King of Pops, Elsewhere Brewing, Ancestral Bottle Shop + Market and taqueria concept El Santo Gallo will join the retail lineup. Westside Paper’s retail space is now 90 percent leased, with previously announced tenants including Pancake Social, Glide Pizza, Girl Driver and Boxcar Betty’s.

October 17, 2022

Development Loans Mixed-Use North Carolina Office Southeast

Avison Young Arranges $139M Construction Loan for 1000 Social Office Project at Exchange Raleigh

by John Nelson October 13, 2022

RALEIGH, N.C. — Avison Young has arranged a $139 million loan for the construction of 1000 Social, a 12-story trophy office building in Raleigh. The 350,000-square-foot project represents the first phase of vertical construction at The Exchange Raleigh, a $1 billion, 40-acre mixed-use development that will feature nearly 1 million square feet of trophy office space, a park, apartments, stores and restaurants upon full buildout. Wes Boatwright, Michael Yavinsky, Jon Goldstein and Connor Burke of Avison Young’s Structured Finance Group arranged the financing on behalf of the developer, Dewitt Carolinas. The direct lender was not disclosed. The groundbreaking for 1000 Social took place last month, with construction expected to be completed in about 18 months. The new landmark tower will offer 20,000 square feet of ground-floor retail space, outdoor patios, individual bathroom pods on every floor, event center and a parking structure with over 1,500 spaces.

October 13, 2022

Arizona Development Industrial Mixed-Use Retail Top Stories Western

Thompson Thrift Breaks Ground on 1 MSF Elliot Tech Center Mixed-Use Campus in Mesa, Arizona

by Katie Sloan October 13, 2022

MESA, ARIZ. — Thompson Thrift has broken ground on Elliot Tech Center, a 1 million-square-foot industrial and retail campus located at the intersection of Elliot and Signal Butte roads within Mesa’s Elliot Road Technology Corridor. At full build-out, the project will span 75 acres and include eight industrial and retail buildings. The project is located northeast of Phoenix-Mesa Gateway Airport, north of Apple’s Global Command Center and east of Meta’s Mesa Data Center, which is currently under construction. Phase I of the development is scheduled for completion in fall 2023 and will include three industrial buildings ranging from 79,000 square feet to 89,000 square feet and five retail pads. The industrial buildings will feature secure truck courts, a variety of bay sizes and clear heights from 28 feet to 32 feet. Black Rock Coffee Bar and an unnamed convenience store are set to open within the retail portion of Phase I, and lease negotiations are currently underway for a 4,000-square-foot, full-service restaurant. Ken McQueen and Chris McClurg of Lee & Associates are handling leasing for the industrial portions of the development, and Phoenix Commercial Advisors is marketing the retail component. The design-build team for Phase I of the project includes Butler …

October 13, 2022

Acquisitions Company News Georgia Mixed-Use Retail Southeast

Simon Agrees to Acquire 50 Percent Stake in Jamestown

by John Nelson October 11, 2022

INDIANAPOLIS AND ATLANTA — Indianapolis-based mall giant Simon has entered into an agreement whereby the REIT will purchase a 50 percent interest in Atlanta-based Jamestown, an owner of some of the most successful mixed-use developments in the country such as Ponce City Market in Atlanta and Ghirardelli Square in San Francisco. Jamestown had more than $13 billion in assets under management as of June 30, 2022, with properties spanning the United States, Latin America and Europe. Terms of the purchase agreement were not disclosed. With this partnership with Simon, Jamestown will gain a partner with a broad platform of resources and operational tools that will enhance its ability to scale and grow. “The partnership with Simon will help position us for our next chapter as we scale our differentiated products in an increasingly global world,” says Michael Phillips, president of Jamestown. With Jamestown, Simon now has an opportunity to capitalize on the growing asset and investment management businesses with an experienced fund manager and mixed-use operator and developer. Simon will also be able to access the Jamestown platform to accelerate its future densification projects. “We have been impressed with Jamestown’s combination of sector expertise, dedication to driving creative placemaking, and …

October 11, 2022

Development Mixed-Use South Carolina Southeast

Lancaster County Council Approves Phase II of RedStone Mixed-Use Development in Metro Charlotte

by John Nelson October 7, 2022

INDIAN LAND, S.C. — The Lancaster County Council has approved developer MPV Properties’ plans for the second phase of RedStone, a mixed-use development in the Charlotte suburb of Indian Land. Phase II will comprise 350 apartments, 20 townhomes and 24,000 square feet of retail space. Located at the intersection of U.S. Highways 521 and 160, the second phase will be situated adjacent to Phase I, a shopping center that opened in 2016 and includes 80,000 square feet of existing retail and restaurant space, as well as the RedStone 14 Cinemas. Between the two phases will be an event lawn that MPV plans to activate with live music, farmers markets and other public events. The developer has begun leasing the retail space at Phase II, which will break ground in fall 2023. Michael Bilodeau and Steve Vermillion of MPV Properties, along with Jason McArthur of Mission Properties, are leading the development of RedStone Phase II. Robbie Adams and Joey Morganthall of MPV Properties are responsible for retail leasing.

October 7, 2022

Development Healthcare Hospitality Mixed-Use Nevada Office Retail Top Stories Western

Pacific Group Breaks Ground on 135-Acre Helios Medical Campus in North Las Vegas

by Katie Sloan October 6, 2022

NORTH LAS VEGAS, NEV. — Pacific Group has broken ground on Helios, a 135-acre medical campus located in North Las Vegas. Construction costs for the project are set to total between $4.5 billion and $5 billion. At full buildout, the project is set to include a 1.1 million-square-foot inpatient hospital offering 600 beds, which will be built in three phases costing $1.2 billion; 1.3 million square feet of medical office and medical technology space; 250,000 square feet of retail with an emphasis on health and wellness; 900,000 square feet of research-and-development space with incubator spaces; 290 hotel rooms across two buildings; and seven restaurants, four of which will be full-service. The hospital portion of the development will offer an emergency department, surgical services and critical care. Additional outpatient offerings will include occupational therapy; behavioral and mental health therapy; educational facilities; testing labs; a sports rehabilitation center; skin care treatment; speech therapy; trauma therapy; radiology; imaging; urology; gastrointestinal care; pre- and post-natal care; and dental services. The research and development portion of Helios will focus on healthcare, aerospace technologies and sustainability. Local food and beverage offerings, athletic facilities, a grocery store, financial institutions, daycare centers and shops will occupy the retail segment …

October 6, 2022

Acquisitions Development Florida Mixed-Use Restaurant Retail Southeast

BSD Capital to Redevelop 148,857 SF Former Sears Department Store and Automotive Center in Ocala, Florida

by John Nelson October 5, 2022

OCALA, FLA. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers and entertainment operators. Located on 12 acres near I-75, the former Sears once served as an anchor to Paddock Mall, an enclosed regional mall that is still open and operating with tenants including Belk, Macy’s, JCPenney and more than 90 specialty stores.

October 5, 2022

Acquisitions California Development Mixed-Use Multifamily Restaurant Retail Western

Liberty National Buys Development Site in Downtown San Diego for SkyLine West Mixed-Use Tower

by Amy Works October 4, 2022

SAN DIEGO — Liberty National Corp. has acquired a 15,000-square-foot site at the corner of Fourth Avenue and Ash Street in downtown San Diego from Nellis Corp. for an undisclosed price. Liberty plans to develop SkyLine West, a mixed-use tower with residential, retail and restaurant space, on the site. The 37-story tower will offer more than 250 apartments in one-, two- and three-bedroom designs, ranging from 550 square feet to 1,600 square feet. Residences will feature energy-efficient appliances, private balconies and high-end finishes. On-site amenities will include a fitness center, swimming pool, spa, lounge, conference rooms, business center, library, pet grooming room and billiards. Additionally, the development will feature sustainable components and be built using LEED standards. The company plans to submit development plans to the City of San Diego by summer 2023, with construction commencement scheduled for summer 2024.

October 4, 2022

Development Georgia Leasing Activity Mixed-Use Southeast

Judge Commercial Adds Six New Tenants at West Broad Redevelopment Project in Savannah

by John Nelson October 4, 2022

SAVANNAH, GA. — Judge Commercial has welcomed six new commercial tenants at West Broad, a mixed-use redevelopment of the historic 300 block of Martin Luther King Jr. Boulevard in west Savannah. The new tenants include Savannah Square Pops, Origin Coffee Bar, Chewning Interiors, AMPT-Savannah, Smithereens and National Marine Sanctuary Foundation. Existing tenants at West Broad include Forsight Eye Care, Rethink Design and Sweet Peach Cosmetic Tattoo. West Broad’s first floor is fully leased and there are commercial and coworking spaces available for lease on the second and third floors, according to Judge Commercial. The 300 block was originally constructed between 1910 and 1922 and housed the landmark Thrifty Supply Center hardware store for 60 years. Urban design and civic architecture firm Sottile and Sottile oversaw the redesign of the four-story, 60,000-square-foot adaptive reuse project.

October 4, 2022

Acquisitions Mixed-Use Multifamily Southeast Tennessee

Drapac Capital Sells Corner Mixed-Use Building in Downtown Memphis for $2.5M

by John Nelson October 4, 2022

MEMPHIS, TENN. — Drapac Capital Partners has sold its final Memphis asset, a four-story mixed-use building located at 44 S. Front St. A local investor acquired the property for $2.5 million and intends to operate the property for residential use. Austin Ehrat of Newmark represented Drapac in the transaction. The 22,922-square-foot building is located in downtown Memphis at the corner of Front Street and Monroe Avenue and features six apartments, ground-floor retail space and a full basement. The 1925-era property, which once housed the Mid-South Cotton Growers Association, was fully leased at the time of sale. Drapac Capital originally purchased the property in 2016 for $820,000.

October 4, 2022

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