Mixed-Use

Alesio-Urban-Center-Irving

IRVING, TEXAS — Berkadia has arranged a $124.6 million loan for the refinancing of Alesio Urban Center, a mixed-use property in Irving’s Las Colinas district that consists of 908 apartments and 55,499 square feet of commercial space. Developed on 17.3 acres in phases between 1987 and 1995, Alesio Urban Center comprises 14 residential buildings, a structured parking garage and 23 commercial spaces. Residences come in one-, two- and three-bedroom floor plans, and amenities include five pools, a fitness center with yoga and Pilates studios, a business center, game lounge, running trail and a media/theater room. Blackstone provided the loan to the owner, Harbor Group International. Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez led the debt placement efforts for Berkadia.

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KNOXVILLE, TENN. — A public-private partnership between the University of Tennessee and a newly formed development platform comprising Arctos, RVX Ventures and Magellan Development Group will soon begin the development of Neyland Entertainment District, a $280 million mixed-use village surrounding Neyland Stadium, the home football arena of the University of Tennessee. The waterfront development in Knoxville will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences, along with a private members club. Arctos is the majority equity investor in the project and is participating as a general partner alongside a sponsor team led by RVX, Magellan and Dixon Greenwood. The construction timeline was not disclosed, but Knoxville News Sentinel reports that construction is expected to begin this summer and include the overhaul of the G10 parking garage, which is a hub of parking and tailgating on game days. The media outlet also reported that the University of Tennessee System Board of Trustees approved a 99-year lease for the development in early May.

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MERIDIAN, IDAHO — CenterCal Properties has unveiled plans for the expansion of The Village at Meridian, a 1 million-square-foot mixed-use development located in Meridian, roughly 10 miles west of downtown Boise. Phase II of the project will encompass 80,000 square feet of commercial space across six new buildings. Tenants that have committed to Phase II include Vuori, Alo, Kendra Scott, Tecovas, Gorjana, solidcore and Tempur-Pedic, along with Flower Child and Paris Baguette. Additional tenants will be announced as leasing activity continues. Initial openings are expected in September 2026, while completion of Phase II is anticipated for February 2027.

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Seguin-Exchange

SEGUIN, TEXAS — Houston-based developer NewQuest has begun work on Seguin Exchange, a 544-acre mixed-use development that will be located on the northeastern outskirts of San Antonio. NewQuest first acquired the land in 2007 and is now underway on infrastructural work. Plans for Seguin Exchange currently call for approximately 2 million square feet of industrial space and 750,000 square feet of retail, restaurant and entertainment space that will be housed within a single shopping center. Seguin Exchange is also planned to feature medical, multifamily and hospitality uses. Within the development’s retail component, NewQuest is in negotiations with various retailers that could account for as much as 400,000 square feet of preleasing activity, inclusive of anchor spaces. NewQuest expects the first retail stores to open at the end of 2027. The majority of retailers, service businesses and restaurants should follow in 2028. Within the industrial component, the site can support more than 250 acres of new development, which NewQuest plans to construct in partnership with an undisclosed, Houston-based firm. Ohio-based automotive supplier KTH Parts has already committed to the project via a 40-acre ground lease, with construction slated to begin later this year. “We are fortunate to have been patient with …

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55-N-La-Cienega-Blvd-Beverly-Hills-CA

BEVERLY HILLS, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $85 million in construction financing for the development of a 297,771-square-foot mixed-use property at 55 N. La Cienega Blvd. in Beverly Hills. Sharone Sabar of MMCC arranged the financing on behalf of a private investor through a national banking institution. The four-year construction loan was structured at 65 percent loan-to-cost. The six-story property will features 140 multifamily residences and 13,303 square feet of ground-floor retail space. The project will include a three-level subterranean parking structure with 177 spaces, extensive community gathering areas, a restaurant and bar, a coffee shop, recreation lounge, theater, wet and dry saunas, conference facilities, private workspaces and a communal kitchen, as well as a rooftop deck with a resort-style pool. Eleven units will be designated for low-income households and an additional 11 units for moderate-income households.

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WEST MELBOURNE, FLA. — Barron Collier Investment Partners (BCIP) has acquired 32.6 acres from MultiVerse Global, the developers of the 225-acre Space Coast Town Center in West Melbourne, a city on Florida’s Space Coast. BCIP will develop The Landing at Space Coast, a planned mixed-use project that will serve as the cornerstone of the larger master-planned community. Phase I of the project will include approximately 77,750 square feet of retail space anchored by a grocery store, along with restaurant and service-oriented tenants and 300 residential apartments. Phase II will comprise 70,000 square feet of commercial space, as well as a public art component that “celebrates the innovation, exploration and heritage that defines Florida’s Space Coast,” according to the press release. Upon completion of Space Coast Town Center, the development will include more than 2,000 multifamily residential units, 300 hotel rooms, 360,000 square feet of office space, 257,000 square feet of retail and restaurant space, a grocery store anchor and various public gathering areas.

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BEL AIR, MD. — Atlanta-based mixed-use developer SJC Ventures has purchased the former Macy’s store at Harford Mall in Bel Air from CBL Properties, a mall REIT based in Chattanooga, Tenn. The purchase secured the final piece of property needed for SJC to begin construction next month on Derby Place, a 94,600-square-foot mixed-use property. SJC completed the first phase of development when it converted the former Sears into the Shops of Harford Mall in 2024. Derby Place will be anchored by a 35,000-square-foot organic grocer and 48,000 square feet of shops and restaurants. Another developer will construct 249 multifamily apartment units on the site with on-deck parking. The development will also feature pedestrian walkways, pocket parks and open space. Derby Place is expected to be ready for occupancy by spring 2028.

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DENVER — BMC Investments has sold 255 Fillmore, a Class A mixed-use building in Denver’s Cherry Creek neighborhood. A high-net-worth family office acquired the asset for an undisclosed price. Tim Richey of Newmark represented the seller in the deal, while Lincoln Property Co. served as investment advisor for the buyer. Alex Foshay and Kevin Shannon of Newmark also supported the transaction. Delivered in 2024, 255 Fillmore features 90,000 square feet of office space and 10,000 square feet of ground-floor retail space. The seven-story property is fully leased to multiple office tenants and three retail/restaurant tenants, including Le Colonial restaurant.

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MCKINNEY, TEXAS — Local developer Craig International has unveiled plans for Rowlett Station, a $200 million mixed-use redevelopment project in McKinney, a northern suburb of Dallas. The project involves the 58-acre former office campus of Globe Life, which served as the insurance company’s longtime headquarters prior to its relocation to the nearby building at 7677 Henneman Way. Preliminary plans for Rowlett Station call for multifamily, office and retail components, as well as network of walking and biking trails. Additional details on project partners and construction timelines will be announced in the coming months.

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The-Lakefront-Scottsdale-AZ

SCOTTSDALE, ARIZ. — Diversified Partners has closed on a waterfront property in Scottsdale that will become The Lakefront at Scottsdale, a mixed-use redevelopment. The project will revitalize a landmark waterfront site in Scottsdale, transforming a long-established location into a destination for dining, retail and gathering spaces. The 100,000-square-foot property will be redeveloped in phases offering restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation. Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to serve the needs of the Scottsdale community. The Lakefront at Scottsdale will feature signature restaurants with outdoor dining overlooking the lake, boutique and experiential retail concepts, luxury wellness and lifestyle tenants and Class A office space with waterfront views, as well as a small marina with Duffy boat rentals. Construction is slated to start in third-quarter 2026 with the first phase focused on demolition and development of the restaurant and retail components. The second phase scheduled to begin in early 2027 and focus on the redevelopment of the remaining retail and office portions.

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