Mixed-Use

Lincoln Property Co., Kairoi Break Ground on 74-Story Mixed-Use Tower in Downtown Austin

by Taylor Williams September 7, 2022

AUSTIN, TEXAS — A partnership between Dallas-based Lincoln Property Co. and Kairoi Residential has broken ground on Waterline, a 74-story mixed-use tower in downtown Austin. The site is located near the nexus of Waller Creek and Lady Bird Lake. Plans for the 1,022-foot building currently call for 352 luxury apartments, 700,000 square feet of office space, a 251-room hotel that will be operated under the 1 Hotels brand and 24,000 square feet of ground-floor retail and restaurant space. Residential amenities will include two pools, a fitness center, lounge, kitchen and coworking space. Office tenants will also have access to a fitness center, as well as a bar and lounge and indoor meeting spaces. Kohn Pedersen Fox (KPF) is the architect for Waterline. Canadian pension fund PSP Investments is also an equity partner on the project. Eastdil Secured arranged an undisclosed amount of construction financing for the development through Blackstone Mortgage Trust. Completion is slated for late 2026. The partnership is also developing Sixth & Guadalupe, a 66-story tower in downtown Austin that is scheduled to open next year.

September 7, 2022

Development Market Reports Mixed-Use Texas Texas Market Reports

North Texas Mixed-Use Boom Moves Full Steam Ahead

by Taylor Williams September 7, 2022

By Rob Welker, president and partner, Hoefer Welker; and Steven Janeway, principal and commercial practice leader, Hoefer Welker As one of the biggest states, Texas regularly sees some of the largest demand in real estate development in the country. In recent years, North Texas specifically has experienced a rapid short-term increase in population, leading to a significant development boom and driving up urban and workforce construction volume, rental rates and sale values. Mixed-use developments have led the charge in commercial growth throughout the Dallas-Fort Worth (DFW) metroplex. Higher overall interest in a live-work-play lifestyle has contributed to the development of a larger number of spaces that provide corporate, retail and residential capabilities. Gone are the days when corporate campuses and multifamily complexes were predominantly in the suburbs; tenants and employers have increasingly searched for living experiences in urban environments where they can combine the three biggest facets of their lives within a single destination. This provides the convenience that tenants crave and the access to concentrated populations that retailers and office users need to be successful. The Coastal Exodus As personal and business income tax rates, regulatory hurdles and costs of living abound in coastal markets, corporations have begun relocating …

September 7, 2022

Development Florida Mixed-Use Multifamily Retail Southeast

Joint Venture Opens Phase I of MiLine Miami, Including 338-Unit Apartment Community and Brewery

by John Nelson September 6, 2022

MIAMI — A joint venture between ZOM Living, Mattoni Group, Scout Capital and AEW Capital Management has completed the first phase of MiLine Miami, a mixed-use development in Miami spanning 11.4 acres. Phase I includes the delivery of a six-story, 338-unit apartment community, 4,600 square feet of retail space and 1,300 linear feet of the Ludlam Trail. Apartments come in studios, one-, two- and three-bedroom options ranging from 580 to 1,700 square feet, and community amenities include a swimming pool and pool deck with cabanas, grilling area, Zen courtyard, fire pit, social room, fitness center, aqua lounge and coworking spaces. The retail space in Phase I houses Thorn, a local brewery by the founders of Lincoln’s Beard Brewing Co. The beer garden will be anchored by two restaurants to be announced soon. Phase II of MiLine Miami will comprise 337 apartments — including 32 townhome units — and is slated to start construction by the end of the year. The third phase will deliver an additional 300 apartments and 18,000 square feet of retail space. The Ludlam Trail is being redeveloped into a linear park that spans six miles and connect four parks, three waterways, two Metrorail stations at Dadeland …

September 6, 2022

Acquisitions Healthcare Mixed-Use Retail Southeast Tennessee

PEBB Enterprises Sells Mixed-Use Shopping Center in Suburban Memphis for $35.5M

by John Nelson August 30, 2022

GERMANTOWN, TENN. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located at 7670 Poplar Ave. in the Memphis suburb of Germantown. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in its $35.5 million sale of the property to Hendon Properties LLC. Germantown Village Square includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Built in 1975 and renovated in 2000, the center was 90 percent leased at the time of sale to tenants including T.J. Maxx, DSW, Ulta Beauty, Old Navy and Five Below.

August 30, 2022

Development Mixed-Use Texas

Portman Holdings to Develop Dallas Gateway Mixed-Use Project in City’s Arts District

by Taylor Williams August 29, 2022

DALLAS — Atlanta-based Portman Holdings will develop Dallas Gateway, a mixed-use project in the Dallas Arts District. Plans currently call for 850 residential units in a variety of formats, 400,000 square feet of office space and 45,000 square feet of retail and restaurant space across three towers. The development will also feature 1,800 parking spaces and ample open green space. Construction is set to begin in the second quarter of next year.

August 29, 2022

Acquisitions Maryland Mixed-Use Retail Southeast

Stan Johnson Co. Brokers $26.8M Sale of Metro Baltimore Store Leased to Whole Foods

by John Nelson August 29, 2022

TOWSON, MD. — Stan Johnson Co. has brokered the sale of a newly built, single-tenant retail store located at 300 Towson Row in downtown Towson, about 10 miles north of Baltimore. Built in 2021 and opened in early 2022, the 63,750-square-foot retail property is triple-net-leased to Whole Foods Market, which anchors the 1.2 million-square-foot Towson Row mixed-use development. An unnamed 1031 exchange buyer based in New York purchased the store from locally based developer Greenberg Gibbons for $26.8 million. Jason Maier of Stan Johnson Co. represented the buyer in the transaction.

August 29, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

SJC Ventures Signs New Tenants to Join Phase II of Interlock Project in Atlanta

by John Nelson August 29, 2022

ATLANTA — SJC Ventures has signed several new tenants to join Phase II of The Interlock, a $750 million mixed-use development underway in Atlanta’s West Midtown district. New concepts joining include Starbucks, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. SJC Ventures expects to announce a new round of tenants in the near future. In addition to the newly announced restaurants and salon, the second phase of The Interlock will be anchored by a 42,000-square-foot Publix grocery store, 670 student housing units for Georgia Tech students, 275,000 square feet of commercial space and limited restaurant opportunities. Construction on Phase II began in May 2021, and SJC Ventures plans to fully open the second phase in 2024. Phase II of The Interlock will be connected to Phase I, which is anchored by a Puttshack, the Bellyard hotel and Rooftop L.O.A., via a one-acre public park.

August 29, 2022

Acquisitions Development Mixed-Use Texas

Walton Global Sells 681-Acre Development Site in San Marcos, Texas

by Taylor Williams August 25, 2022

SAN MARCOS, TEXAS — International investment firm Walton Global has sold a 681-acre development site located along State Highway 142 in the Central Texas city of San Marcos. The buyer, SafeHand Holdings LLC, plans to develop both residential and commercial space at the site, which is known as Turner Crest but did not disclose specific components or construction timelines. Richard Harmon of TRE Commercial represented the buyer in the land deal.

August 25, 2022

Affordable Housing Development Florida Mixed-Use Multifamily Office Retail Southeast

Coral Rock to Develop Mixed-Use Affordable Housing Project in North Miami

by John Nelson August 25, 2022

NORTH MIAMI, FLA. — Coral Rock Development Group, a real estate developer based in Coral Gables, Fla., plans to build Kayla at Library Place, a mixed-use affordable housing project located at 13100 W. Dixie Highway in North Miami. The 10-story property will comprise 138 affordable and workforce housing units ranging between 660 to 930 square feet, as well as amenities including a fitness center, rooftop patio, business center and a conference room. Fifty-five apartments will be reserved for households earning 60 percent of area median income (AMI) while 83 units will be designated affordable at 100 percent of AMI. Additionally, Kayla at Library Place will feature 10,000 square feet of retail space on the ground level, an adjacent parking garage and 8,000 square feet of office and conference space preleased to the Greater North Miami Chamber of Commerce. Behar Font designed Kayla at Library Place to achieve LEED Silver certification. Coral Rock expects to break ground in the second quarter of 2023 and deliver the project by the end of 2024.

August 25, 2022

Market Reports Mixed-Use Texas Texas Market Reports

More Than A Cliche: How Frisco Has Become the Ultimate Live-Work-Play Suburb

by Taylor Williams August 24, 2022

By Chris McCluskey, vice president of development, VanTrust Real Estate; and Robert Folzenlogen, senior vice president of strategic development, Hillwood In the past decade, the popularity of “live-work-play” developments has skyrocketed, making the concept a somewhat overused cliché in the commercial real estate world. However, the reasoning behind the acclaim remains true — people love convenience and a sense of community. And “live-work-play” is the reason that cities like Frisco that are located outside dense urban cores have thrived. According to the U.S. Census Bureau, Frisco’s population has grown by 71 percent over the last decade, consistently ranking as one of the fastest-growing cities in the nation. But this growth did not happen overnight; rather, a combination of ideal location and elected leaders’ vision has driven much of Frisco’s success. By prioritizing all real estate classes — office, residential, retail — Frisco has been able to find the right balance between bustling urban amenities and the serene background of suburbia, making it one of the most competitive landscapes today and for the foreseeable future. A Balanced Approach Suburbs are no longer known for just their family appeal, although this feature still remains a high priority for many households. Young professionals …

August 24, 2022

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