Thursday, November 21, 2024
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Mixed-Use

Village-at-Gateway-Forney
DevelopmentMixed-UseTexas

StreetLevel Investments Breaks Ground on 120-Acre Mixed-Use Project in Forney, Texas

by Taylor Williams

FORNEY, TEXAS — Texas-based developer StreetLevel Investments has broken ground on Village at Gateway, a 120-acre mixed-use development in Forney, an eastern suburb of Dallas. The site is located at North Gateway Boulevard and U.S. Highway 80 within the 2,000-acre Gateway master planned development. Phase I of the project will feature 500,000 square feet of retail space that will be anchored by Target (144,000 square feet), Home Depot (135,000 square feet) and grocer H-E-B (131,000 square feet). Dallas-based GFF is the project architect, and Ridgemont Commercial Construction is serving as the general contractor. Phase I is slated for a summer 2026 completion. Village at Gateway will also feature a multifamily component, although details on that element of the project are not yet available.

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DevelopmentMidwestMixed-UseNebraska

Prominence Global Unveils Plans to Develop 260-Acre Catalina Mixed-Use Project in Valley, Nebraska

by Kristin Harlow

VALLEY, NEB. — Prominence Global LLC has unveiled plans to develop Catalina, a 260-acre mixed-use project in Valley, about 25 miles west of Omaha. Colliers is the leasing agent. Situated near Highway 275 and Meigs Street, Catalina will feature a commercial district with retail and flex opportunities along with a residential component for single-family and multifamily units. Catalina will also feature the First Interstate SportsPlex. In partnership with the Elkhorn Athletic Association, this 96-acre portion of the development will be dedicated to soccer, baseball and softball fields. Grading at the site is currently underway, with infrastructure work projected to start in 2025. Some of the first homes and commercial tenants are expected to open in late 2026.

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AcquisitionsIllinoisIndustrialMidwestMixed-UseOffice

DarwinPW Realty/CORFAC International Brokers Sale of 9,600 SF Flex Building Slated for Mixed-Use Development in Chicago

by Kristin Harlow

CHICAGO — DarwinPW Realty/CORFAC International has brokered the sale of a 9,600-square-foot flex building located at 2224 W. Grand Ave. in Chicago for an undisclosed price. The property is home to Rainbow Art Inc. and is currently zoned C2-2, which allows for a mixed-use development. The building is situated in the West Town neighborhood and features clear heights ranging from 12 to 16 feet, one drive-in door and two-story office space. Marc Hale and Ali Nix of DarwinPW Realty/CORFAC International brokered the sale. A residential developer purchased the asset.

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DevelopmentMixed-UseRetailSoutheastTennessee

GBT Realty, Robinson Properties to Develop Mixed-Use Project in Mount Juliet, Tennessee

by John Nelson

MOUNT JULIET, TENN. — GBT Realty Corp. and Robinson Properties have announced plans for Everett Downs, a mixed-use development in Mount Juliet, roughly 20 miles east of Nashville. GBT Realty will develop the retail portion of the project, which will comprise a 41,255-square-foot retail center. A 23,256-square-foot Sprouts Farmers Market will anchor the shopping center, which will also feature approximately 18,000 square feet of small shop and outparcel retail space. Completion of the retail component, which is currently 75 percent preleased, is scheduled for October 2025. Robinson Properties will develop Phase II of Everett Downs, which include a multifamily component.

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Yorktown-Center
DevelopmentIllinoisMidwestMixed-UseRetailTop Stories

PRCP, Synergy Break Ground on Mixed-Use Redevelopment of Yorktown Center Mall in Suburban Chicago

by Katie Sloan

LOMBARD, ILL. — A joint venture between Pacific Retail Capital Partners (PRCP) and Synergy Construction Group has broken ground on the mixed-use redevelopment of Yorktown Center, an enclosed regional mall located in the Chicago suburb of Lombard.  The 1.2 million-square-foot mall opened its doors in October 1968. The 130-acre property is currently home to over 170 stores and restaurants, including anchors Von Maur and JCPenney.  The joint venture acquired a 217,887-square-foot anchor building at the site that was formerly occupied by Carson Pirie Scott in fall 2022. The property will be demolished to make way for Phase I of the redevelopment, which will include a community park dubbed The Square, 600 residential units and thousands of square feet of new, exterior-facing shops and restaurants. The Square will feature a children’s play area, entertainment stage, dog park and fitness area. New retail space will be occupied by tenants including The Fresh Market, Tapville Social, Empire Burgers + Brew, Dave & Buster’s and Ancho & Agave, among others.  The residential portion of Phase I, Yorktown Reserve, will offer luxury multifamily units. Shared amenities will include a fitness center, resort-style swimming pool and hot tub, sauna, business center, DIY room, game room, multiple media and theater …

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AcquisitionsMixed-UseNew YorkNortheast

Marcus & Millichap Brokers $5.7M Sale of Manhattan Mixed-Use Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $5.7 million sale of a four-story mixed-use building located at 32 Avenue A in Manhattan’s East Village area. The building comprises three newly renovated apartments and a retail space occupied by Mary O’s Irish Pub. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.

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First-Street-Village-Apts-Burbank-CA
CaliforniaDevelopmentMixed-UseMultifamilyRetailWestern

Downtown Burbank Completes Second Phase of First Street Village Mixed-Use Project

by Amy Works

BURBANK, CALIF. — Downtown Burbank has completed the second phase of First Street Village, a three-phase mixed-use apartment community at the intersection of First Street and Magnolia Boulevard in downtown Burbank. Situated on more than 3 acres, the second phase includes 275 apartments and 18,000 square feet of ground-floor retail space. High Impact Pilates has signed a lease to occupy a portion of the new retail space. First Street Village offers micro units, one-, two- and three-bedroom apartments, a sky deck with WiFi, fitness center, social workspaces, barbecues, fire pits and pools. The first phase of the community is 95 percent occupied and retail tenants include Flow Wine Bar, Hardcore Fitness and Hollywood Pet Grooming Pet Store. The residential component includes 24 affordable housing units. Developed by Tim Behunin, First Street Village is the largest mixed-use development in downtown Burbank since 2005. Christopher Baer of Avison Young is handling leasing for First Street Village’s retail component. Downtown Burbank Partnership, a California nonprofit mutual benefit corporation, manages the Downtown Burbank District.

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DevelopmentGeorgiaLoansMixed-UseSoutheast

Toro Development Obtains Construction Financing for $560M Mixed-Use Medley Development in Metro Atlanta

by John Nelson

JOHNS CREEK, GA. — Toro Development Co. has obtained construction financing for Medley, a $560 million planned mixed-use development in Johns Creek, an affluent northern suburb of Atlanta. The developer plans to break ground on the 43-acre project in December, with an anticipated opening in late 2026. The financing includes an undisclosed amount of equity from Ascentris, a Denver-based real estate private equity firm, and a $158 million construction loan from Mexico City-based Banco Inbursa. At full build-out, Medley will feature 150,000 square feet of retail, restaurant and entertainment space; a 175-room boutique hotel; 110,000 square feet of lifestyle offices; 750 multifamily residences and 133 townhomes; and an activated 25,000-square-foot plaza. Toro Development purchased a former suburban office park on Medley’s site in March for $44 million.

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AcquisitionsFloridaMixed-UseRetailSoutheast

Linkvest Capital, MMG Equity Acquire Mixed-Use Destination in Downtown Homestead, Florida

by John Nelson

HOMESTEAD, FLA. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a mixed-use entertainment destination located on 4.8 acres at 4 S. Krome Ave. in downtown Homestead, about 39 miles south of Miami. LV Lending previously held a first mortgage on the property, and the acquisition was completed through a deed in lieu of foreclosure to Linkvest Capital and MMG Equity. Completed in 2019, Homestead Station is anchored by Evo Entertainment + IMAX, an entertainment venue that features cinemas and bowling, as well as numerous retail and dining establishments. The center also features an 1,100-space parking garage. There is currently 18,000 square feet of vacant space available to lease, according to the new owners.

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Bahia-Mar-Pool
DevelopmentFloridaMixed-UseSoutheastTop Stories

Joint Venture Unveils Plans for $2B Waterfront Mixed-Use Development in Fort Lauderdale, Florida

by Katie Sloan

FORT LAUDERDALE, FLA. — A joint venture between Related Group, Tate Capital and Rok Acquisitions has unveiled plans for Bahia Mar, a $2 billion waterfront mixed-use development located in Fort Lauderdale. The joint venture is developing the 40-acre project in collaboration with Marriott International. Bahia Mar will be anchored by two 23-story condominium towers and a 197-room luxury hotel, all operating under the St. Regis brand.   Condominiums will be offered in three- and four-bedroom configurations ranging from 2,600 to 3,550 square feet, in addition to penthouse residences across both the condominium towers and a portion of the hotel. Units will feature a private elevator foyer and sweeping views of the Atlantic Ocean.  Shared amenities in the condo towers will include a spa with steam rooms, saunas, hot and cold plunges, treatment rooms and a wellness terrace; a salon offering beauty services; an indoor/outdoor fitness center; a children’s entertainment room; library/media room; private dining and billiards rooms; and outdoor terraces with summer kitchens, a private outdoor pool, pickleball court and a multisport simulator.  The resort will also feature amenities including two pools, a fitness center, spa, outdoor amenity spaces and a signature restaurant, all of which will be available to condo …

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