REBusinessOnline

ABS National Business Parks Purchases Gardens Plaza Mixed-Use Property in West Palm Beach for $30.6M

WEST PALM BEACH, FLA. — ABS National Business Parks has purchased Gardens Plaza, a mixed-use campus in West Palm Beach that comprises of a nine-story office tower, two-story medical office building and a development pad. The locally based developer, Stiles, sold the property for $30.5 million.Gardens Plaza is located on the south side of PGA Boulevard, adjacent to Gardens Mall and less than one mile east of Interstate 95. The property was 85 percent leased at the time of sale to a variety …

Madison Capital Group Acquires Two Vacant Sears Boxes in Savannah and Boise, Plans Mixed-Use Developments

BOISE, IDAHO AND SAVANNAH, GA. — Madison Capital Group LLC has acquired two vacant Sears boxes located adjacent to active shopping malls, the Boise Town Square in Boise and the Oglethorpe Mall in Savannah. The seller and sales price were not disclosed.Madison Capital Group plans to redevelop each box into a mixed-use development that could include residential housing and retail. Madison Capital Group is based in Charlotte and focuses on investing in multifamily and self-storage

Centurion American to Develop 35.8-Acre Mixed-Use Project in Lewisville, Texas

LEWISVILLE, TEXAS — Locally based developer Centurion American will develop Fronterra, a 35.8-acre mixed-use project that will be located at the intersection of Justin Road and McGee Lane in the northern Dallas suburb of Lewisville. Plans currently call for 200 townhomes, 700 multifamily units, 30,000 square feet of commercial space and five acres of parks and water features. Centurion American, which will develop the project in phases, recently received approval for zoning changes from the …

Centennial Bank Provides $68M Construction Loan for Bentley Apartments in Orlando

ORLANDO, FLA. — Centennial Bank has provided a $68 million loan to Unicorp National Developments Inc. for the construction of The Bentley, a 396-unit apartment tower in Orlando. The high-rise is part of Unicorp’s $1 billion mixed-use development O-Town West. Robby Barrows of Centennial Bank led the loan transaction for developer Unicorp.O-Town West will be a multi-phase, live-work epicenter delivering single-family homes, apartments, a Publix-anchored retail package and office space. …

Topgolf to Open Fourth Georgia Venue at Fuqua Development’s Exchange at Gwinnett in Buford

BUFORD, GA. — Topgolf Entertainment Group plans to open its fourth Georgia venue in Buford tomorrow. The property will anchor Exchange at Gwinnett, a mixed-use development by locally based Fuqua Development near Mall of Georgia. The Exchange at Gwinnett has more than 465,000 square feet of retail and restaurants, office space, hotel space and residential units. Other than Topgolf, The Exchange will include retailers such as Five Guys, Starbucks Coffee, Four Fat Cows, Chipotle and Sprouts …

PMF Investments Sells BelleVista Place Mixed-Use Development Site in Bellevue for $152.2M

BELLEVUE, WASH. — PMF Investments has completed the disposition of BelleVista Place, a mixed-use, master-planned development site located at 100 112th Ave. NE in Bellevue. An undisclosed buyer acquired the 4.9-acre site for $152.2 million.Designed by CollinsWoerman, the project will feature residential, office and retail space, as well as subterranean parking.According to the City of Bellevue’s first-quarter 2020 Downtown Bellevue Major Projects List, the development team is seeking …

George Smith Partners Secures $58M in Construction Financing for Mixed-Use Project in Culver City, California

CULVER CITY, CALIF. — George Smith Partners has secured $42 million in senior construction debt from a life insurance company capital provider and assisted in obtaining $16 million in preferred equity for a seven-story mixed-use development in Culver City. The borrower is GR Properties USA.The development will feature 139 apartments, including 14 affordable units, in a mix of studio, one- and two-bedroom layouts. Community amenities will include a swimming pool, clubhouse and fitness …

CIM Group Completes Loft-Style Residences Within $5B Centennial Yards Project in Downtown Atlanta

ATLANTA — CIM Group has completed construction of The Lofts at Centennial Yards South, an adaptive reuse apartment project within the larger $5 billion development in downtown Atlanta known as Centennial Yards. A ribbon-cutting ceremony that took place yesterday also marked the completion of the 160 Trinity offices as well as the launch of construction at 99 Ted Turner creative office, 185 Ted Turner office and the Canyon, a 740-foot-long retail, dining and event destination.Located …

Mixed-Use Settings Bolster Office Prospects in Texas

By Taylor Williams The COVID-19 pandemic has cast a shadow of uncertainty on both the short- and long-term fates of many office buildings, but mixed-use developers in Texas are hardly reluctant to continue to include this use in their projects. Philosophies behind mixed-use projects vary in terms of which components lead and which ones follow. Some developers view retailers and restaurants as the connective tissue that dots the networks and thoroughfares and that creates the walkable …

Beach Co. Breaks Ground on Apartment Community, Office Building in Huntsville

HUNTSVILLE, ALA. — The Beach Co. has broken ground on The Foundry, a mixed-use apartment community, and The Range, a commercial office building, in Huntsville. Construction on The Foundry is scheduled for completion in spring 2023, and The Range is scheduled to be completed in winter 2022. The Foundry will comprise four residential buildings offering 328 multifamily residences with studio, one- and two-bedroom floor plans and three townhome buildings encompassing 14 units. The multifamily …

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