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Mixed-Use

Strand-Pier-Hermosa-Beach-CA
AcquisitionsCaliforniaMixed-UseRestaurantRetailWestern

Bolour Associates Sells Beachfront Retail Portfolio in Hermosa Beach, California for $33.5M

by Amy Works

HERMOSA BEACH, CALIF. — Bolour Associates has completed the $33.5 million sale of a beachfront retail portfolio in Hermosa Beach. Situated on nearly one acre, the asset is located at 11-29 Pier Avenue and 1250-1272 The Strand. At the time of sale, the property was 88 percent occupied by beach-centric tenants, including Hermosa Cyclery, Oakberry, Hermosa Beach Trading Co., Waves, Playa Hermosa Fish & Oyster and Heavenly Couture. Tim Kuruzar, Bryan Ley, Brendan McArthur and Tess Berghoff of JLL served as investment advisors in the Strand and Pier transaction. Jeff Sause and Chad Morgan of JLL served as debt advisors.

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DevelopmentMixed-UseMultifamilyRetailSouth CarolinaSoutheast

Flournoy Breaks Ground on 365-Unit District South Apartment Property in Greenville

by John Nelson

GREENVILLE, S.C. — Flournoy Development Group has broken ground on District South, a 365-unit apartment development located on a 21-acre site in Greenville. The property will include five four-story apartment buildings, 12 townhome buildings, three carriage home buildings and 13 retail spaces. Amenities will include a grab-and-go market, lounge, fitness and wellness center, resort-style swimming pool with a courtyard, outdoor entertainment areas, dog park and an indoor pet spa. The project team for District South includes architect Dynamik Design, general contractor McShane Construction and civil engineer Gray Engineering. Flournoy Properties Group will manage the apartment property. The construction timeline was not released.

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Leasing ActivityMixed-UseNorth CarolinaOfficeRetailSoutheast

One Alliance Brings 32,936 SF Johnsbury Square Mixed-Use Property in Metro Charlotte to Full Occupancy

by John Nelson

CORNELIUS, N.C. — One Alliance Cos. has fully leased Johnsbury Square, a mixed-use property located at 19901-19905 W. Catawba Ave. in Cornelius, about 20 miles north of Charlotte. RE/Max Executive leased the last remaining office suite at Johnsbury Square. Kasandra Brew Blum represented the landlord on an internal basis. Existing tenants include Fusion Bowl, FitFast20, Apotheca Canabis Dispensary and Coffee Republic & Bakery, among others.

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AcquisitionsMixed-UseNew YorkNortheast

Ariel Property Advisors Negotiates $11.8M Sale of East Harlem Mixed-Use Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $11.8 million sale of a 29,975-square-foot mixed-use building in East Harlem. The building is located at 1875 Lexington Ave. and comprises 30 multifamily units and six commercial spaces. Shimon Shkury, Victor Sozio and Alexander Taic of Ariel represented the undisclosed seller in the transaction. The buyer was locally based private equity firm Tahari Capital.

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DevelopmentMidwestMissouriMixed-Use

Cordish to Redevelop Millennium Hotel Site Adjacent to St. Louis Gateway Arch

by Kristin Harlow

ST. LOUIS — St. Louis-based nonprofit Gateway Arch Park Foundation has selected The Cordish Companies to redevelop the Millennium Hotel property, located at 200 S. 4th St. adjacent to the St. Louis Gateway Arch. The downtown site has stood vacant since 2014. In November 2024, the foundation issued a request for development proposals, just months after it announced that it was under contract to purchase the Millennium Hotel site. The request for proposals (RFP) allowed for either adaptive reuse of the structures on the property or demolition of the existing buildings. The three qualified responses to the RFP all called for demolition. Cordish’s nearly $670 million preliminary plan integrates 1.3 million square feet of residential, office, commercial, cultural and public spaces. Key proposed elements include upscale residential, Class A office space, public spaces, an amphitheater, food hall, event space, a potential home for Gateway Arch National Park’s archives, enhanced streetscapes, pedestrian-friendly spaces, landscaping and art installations. The redevelopment plan is scheduled for review during the Land Clearance for Redevelopment Authority board meeting on Tuesday, Feb. 25.

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Five New Tenants to Open at Mixed-Use Development in Bonita Springs, Florida

by John Nelson

BONITA SPRINGS, FLA. — Five new tenants are joining the tenant roster at Midtown at Bonita, a 68-acre mixed-use development in Bonita Springs, about 15 miles north of Naples. The project’s developer, The Zuckerman Group, recently signed LowBrow Pizza & Beer, Pacific Dental Services, Mathnasium, Gelato&Co. and Beau’s BBQ to the lineup. Set to open in 2026, the mixed-use development will offer 315,000 square feet of dining, shopping, lifestyle, entertainment, wellness and service options for residents in the Southwest Florida region. The development will also feature 400 residential units and a 165-room hotel. The new additions join a tenant roster of national, regional and local retailers already committed to Midtown at Bonita, including Panera Bread, Good Vets, Club Pilates and Jeff’s Bagel Run, among others.

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One-Beverly
CaliforniaDevelopmentHospitalityMixed-UseRetailTop StoriesWestern

VICI Properties Provides $300M Financing for $5B One Beverly Hills Project in Metro Los Angeles

by Katie Sloan

BEVERLY HILLS, CALIF. — Cain International and Eldridge Industries have secured a $300 million investment from VICI Properties Inc. (NYSE: VICI) for the development of One Beverly Hills, a luxury mixed-use development located in the Los Angeles County community of Beverly Hills.  Construction on One Beverly Hills, which was originally announced in 2021, is currently underway with recent local coverage valuing the development at $5 billion. Foster + Partners master-planned the 17.5-acre project, which will include hospitality, residential, retail and restaurant space.  One Beverly Hills will be anchored by a luxury Aman-branded hotel and two Aman-branded residential towers designed by Kerry Hill Architects. The hotel will offer 78 all-suite guest rooms overlooking the Los Angeles Country Club. The three towers will offer access to private gardens and a 100,000-square-foot Aman Club, the brand’s private membership club offering wellness, dining and social spaces.  The project will also include a full-scale refurbishment of The Beverly Hilton, an iconic hotel that hosts the Golden Globes awards show and Milken Institute conference annually. Renovations are being led by David Collins Studio and will integrate designs that play homage to the property’s legacy. One Beverly Hills will also include curated luxury retail and dining space to …

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2066-4th-St-San-Rafael-CA
AcquisitionsCaliforniaMixed-UseMultifamilyOfficeRetailWestern

Marcus & Millichap Brokers $1.4M Sale-Leaseback of Mixed-Use Property in San Rafael, California

by Amy Works

SAN RAFAEL, CALIF. — Marcus & Millichap has arranged the sale-leaseback of a mixed-use building located at 2066 4th St. in San Rafael. A limited liability company sold the asset to an undisclosed buyer for $1.4 million. Built in 1946, the 5,739-square-foot property offers one retail unit, one office unit, six single-room occupancy units and a one-bedroom/one-bath residential unit. John Lee, Adam Levin and Robert Johnston of Marcus & Millichap represented the seller in the deal. The seller will remain as a commercial tenant at the property. 

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CaliforniaDevelopmentLeasing ActivityLife SciencesMixed-UseOfficeTop StoriesWestern

Chan Zuckerberg Initiative Signs 225,000 SF Lease to Anchor Elco Yards Development in Silicon Valley

by John Nelson

REDWOOD CITY, CALIF. — The Chan Zuckerberg Initiative (CZI), one of the largest philanthropies supporting biomedical research and AI-driven science, has signed a 225,000-square-foot life sciences lease in Silicon Valley. The company will fully occupy one of four buildings at IQHQ Inc.’s Elco Yards mixed-use development underway in Redwood City, roughly 25 miles south of San Francisco. Situated along the Caltrain corridor on the San Francisco Peninsula, Elco Yards is a 670,000-square-foot mixed-use development that comprises four buildings offering lab, office and retail space. The project, which began construction in 2021, will deliver additional phases between mid-2025 and 2026. CZI is expected to officially occupy its newly leased space in 2027. The deal brings Elco Yards to 30 percent preleased, according to IQHQ. Founded by Dr. Priscilla Chan and Facebook founder Mark Zuckerberg in 2015, CZI’s purpose is to eradicate disease, improve education and address the needs of local communities, while building a more “inclusive, just and healthy future for everyone,” according to the company’s mission statement. “We are excited to continue to grow our roots in Redwood City with this new space for our biomedical research efforts,” says Marc Malandro, chief operating officer of CZI and the CZ Biohub …

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The-Bend-Plano
DevelopmentMixed-UseTexas

Centennial Unveils New Plans for Mixed-Use Redevelopment of Plano Mall

by Taylor Williams

PLANO, TEXAS — Dallas-based Centennial has unveiled new and revised redevelopment plans for The Shops at Willow Bend, a 1.4 million-square-foot regional mall in Plano, to include townhomes-style attached residences and detached single-family homes. Centennial, which initially acquired the property in 2022 in partnership with Cawley Partners, had previously unveiled plans to convert the enclosed center to a mixed-use property called The Bend. Centennial’s late-2024 acquisition of the Macy’s building at the center — following the retailer’s announcement that the store would be closing — has enabled the inclusion of additional uses, according to the company. Under the plans, a portion of the enclosed mall’s footprint will be demolished to make room for multifamily housing options, a hotel, neighborhood dog park and green spaces for community activities. The Bend will also continue to offer residents and visitors a mix of retail, dining, fitness, and entertainment options. The Plano City Council must still approve the project, although the Plano Planning & Zoning Committee has already signed off on the updated plans. Construction is expected to begin later this year pending city council approval.

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