Mixed-Use

Mack-Cali Unveils Latest Phase of Redevelopment of 4.3 MSF Harborside Campus in Jersey City

by Taylor Williams May 11, 2021

JERSEY CITY, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has unveiled the latest phase of the redevelopment of Harborside, a 4.3 million-square-foot mixed-use campus in Jersey City. The redevelopment of the 422,590-square-foot Harborside 1, which is one of five office buildings on the campus, is complete and includes a new façade and lobby, as well as infrastructure upgrades. The building also features a private terrace on the fourth floor with views of the Hudson River and Manhattan skyline. As part of this phase, Mack-Cali also introduced new art installations and public spaces and announced summer programming, including the opening of Smorgasburg, an open-air food market. Harborside also features 71,000 square feet of retail and restaurant space, fitness and wellness programming, a 351-room Hyatt Regency hotel, a food hall and a daycare center. In addition, the site can support approximately 3.5 million square feet of new commercial and residential development.

May 11, 2021

Development Mixed-Use New York Northeast Office Retail Top Stories

Macy’s Proposes Overhaul of Herald Square Store in Manhattan, Including New Office Tower

by John Nelson May 11, 2021

NEW YORK CITY — Macy’s Inc. (NYSE: M) has unveiled plans to overhaul its flagship Herald Square store at the corner of 34th Street and Seventh Avenue in Midtown Manhattan. The plan would add a commercial office tower atop the store. The size and design features of the office component were not disclosed. The plan includes a private investment totaling $235 million by Macy’s that would modernize the public spaces around the flagship store, including upgraded subway access, improved transit connections and pedestrian-friendly and car-free streetscapes at Broadway Plaza and Herald Square. Macy’s would improve Herald Square Subway Station’s entrances and add publicly accessible elevators at Seventh Avenue, Broadway, 34th Street and 35th Street that are compliant with Americans with Disabilities Act (ADA). The renewal plan is expected to generate $269 million annually in new tax revenues for New York City, support 16,290 annual jobs and spark $4.29 billion in annual economic output, according to Macy’s. “Today’s announcement is a resounding vote of confidence for Manhattan and the entire state, and a strong indication that New York’s retailers and consumers will drive this economic recovery,” says Melissa O’Connor, president and CEO of the Retail Council of New York State, the …

May 11, 2021

Development Mixed-Use Texas

Craig International Unveils Plans for $250M District 121 Mixed-Use Project in McKinney, Texas

by Taylor Williams May 10, 2021

MCKINNEY, TEXAS — Developer Craig International has unveiled plans for District 121, a $250 million mixed-use project that will be located on 17.5 acres next to the Craig Ranch master-planned community in McKinney. Phase I of the project consists of a 200,000-square-foot office building by Kaizen Development that is currently under construction, as well as 40,000 square feet of retail and restaurant space, an 800-space parking garage and green space known as The Commons. District 121 will eventually include 520,000 square feet of office space and a hotel. SHOP Cos. has been tapped to lease the retail and restaurant space.

May 10, 2021

Development Mixed-Use Office Retail South Carolina Southeast

Sharbell Breaks Ground on Downtown Nexton Mixed-Use Project Near Charleston

by Julia Sanders May 10, 2021

SUMMERVILLE, S.C. — New Jersey-based Sharbell Development Corp. has broken ground on Downtown Nexton, an urban-inspired mixed-use development in Summerville. Downtown Nexton will be situated on nearly 100 acres between Sigma Drive and Brighton Park Boulevard, about 24 miles away from Charleston. Upon completion, Downtown Nexton will provide retail, dining, hospitality, residential, service, office and commercial options. The first phase of the Downtown Nexton project is slated to be completed in 2022 and will include multifamily residences, a mixed-use building with loft apartments above ground-level retail and several outparcels. In addition, Phase I will feature various walking trails, pocket parks and two ponds with walking trails on the north and south sides of the development. Downtown Nexton will offer over 110,000 square feet of both for-sale and rental office space within several two-story office buildings. The buildings will feature parking, multiple entry points, green space and Nexton’s GigaFi internet services. CBRE’s Charleston office will market the office component for lease. The project will also include three apartment parcels, each with their own amenity packages. One of these parcels is intended to be an age-restricted (55-plus) upscale rental community. Additionally, some of the mixed-use buildings will include upper-floor lofts. Amenities for …

May 10, 2021

Acquisitions California Mixed-Use Western

Faris Lee Arranges $17.5M Sale of Mixed-Use Redevelopment Site in Orange County

by Amy Works May 7, 2021

FOUNTAIN VALLEY, CALIF. — Faris Lee Investments has brokered the sale of a five-acre mixed-use redevelopment site known as Brookhurst & Warner in Fountain Valley, in the heart of Orange County. An undisclosed buyer acquired the site for $17.5 million. Rick Chichester, Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the undisclosed seller in the deal.

May 7, 2021

Acquisitions Florida Healthcare Mixed-Use Office Southeast

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

by Julia Sanders May 6, 2021

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 of corporate tenants. The tower spans 86,542 rentable square feet, and the medical office building spans 5,627 square feet and has been occupied by Jupiter Medical since 2016. Christian Lee, José Lobón, Kevin Probel and Kevin McCarthy of CBRE represented the seller in the transaction. Brian Warwick with ABS Altman Warwick LLC worked alongside Amy Julian with CBRE’s Debt & Structured Finance division to secure a 10-year, fixed-rate acquisition loan through JPMorgan. ABS National Business Parks is a New York-based, privately held owner and operator. The company plans to modernize Gardens Plaza, including upgrading to a high-level HEPA air filtration system and updating the building’s four elevators.

May 6, 2021

Acquisitions Georgia Mixed-Use Retail Southeast

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

by Julia Sanders May 5, 2021

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 properties.

May 5, 2021

Development Mixed-Use Texas

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

by Taylor Williams May 4, 2021

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 City of Lewisville to move forward with the first phase.

May 4, 2021

Development Florida Loans Mixed-Use Multifamily Southeast

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

by Julia Sanders April 30, 2021

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. Confirmed tenants for The Town Center at O-Town West include Publix, AT&T, Heartland Dental, McDonalds and Planet Smoothie. The Bentley is one of the first phases of the development, in addition to Town Center, both of which are slated to break ground soon. The Bentley is slated for completion at the end of next year. The Bentley’s amenities will include a resort-style swimming pool with a Jacuzzi, resident lounge with a coffee bar, social area featuring billiards and arcade games, theater room, entertainment lanai with a TV, Zen garden with hanging moon chairs and water features, outdoor walking trail, a firepit, 24-hour fitness center with TRX and yoga studio, conference room, bike rentals, outdoor gaming areas and electric car charging stations. Centennial Bank has financed more than $149 million …

April 30, 2021

Development Georgia Mixed-Use Retail Southeast

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

by Julia Sanders April 29, 2021

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 Farmers Market. Topgolf Buford will be a two-floor venue with 72 climate-controlled hitting bays. Other amenities include a chef-driven food and beverage menu that guests can order from during their stay. Topgolf offers reservations online or walk-ins. Topgolf says safety protocols have also been put in place in the new Buford location. The venue will be equipped with social distancing markers, as well as bay dividers to establish barriers between groups. Bays, golf clubs and game screens will be disinfected after each group, and common areas will be disinfected every hour by roving cleaning teams. Additionally, all workers will be required to undergo wellness screenings prior to each shift.

April 29, 2021

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