Mixed-Use

Sunnyvale City Council Approves Next Phase of CityLine Sunnyvale Mixed-Use Project in California

by Amy Works August 17, 2020

SUNNYVALE, CALIF. — Sunnyvale City Council has approved a Downtown Specific Plan and Development Agreement that allows for the next phase of CityLine Sunnyvale to begin. STC Venture, a partnership between Sares Regis Group of Northern California and Hunter Properties, is developing the multi-phase redevelopment project in downtown Sunnyvale. The new phase will add 792 residential units and 653,000 square feet of office space above 182,000 square feet of ground-floor retail space on four parcels along Murphy and McKinley avenues. The overall CityLine Sunnyvale project — a 36-acre, pedestrian-oriented, mixed-use district —also features a large public plaza, as well as shopping and entertainment space. The new phase will include a Building B offering 150,000 square feet of office space and 8,000 square feet of retail space and the redevelopment of Redwood Square into Block 3S featuring 480 apartments (11 percent designated affordable) with 30,000 square feet of retail space. Construction of the new phase is scheduled to begin in early 2021. The phase also includes the redevelopment of the former Macy’s into 500,000 square feet of office space and 60,000 square feet of retail space, the development of Block 6 with 312 apartments (11 percent affordable) with 35,000 square feet of …

August 17, 2020

Development Mixed-Use Texas

Realty Capital Management Acquires 77 Acres for Mixed-Use Project in Mansfield, Texas

by Taylor Williams August 14, 2020

MANSFIELD, TEXAS — Realty Capital Management has acquired 77 acres in the Fort Worth suburb of Mansfield for the development of Watson Branch, a mixed-use project. Preliminary plans call for 10,000 square feet of retail and restaurant space, 250 single-family homes, a 190-unit active adult community by Greystar, a 350-unit apartment complex by Trinsic Residential and a 10-acre public park. Louisiana-based First Guaranty Bank partnered with Dallas-based Realty Capital Partners to finance the acquisition of the land.

August 14, 2020

Acquisitions California Mixed-Use Multifamily Office Retail Western

Machine Investment Acquires Stevens Creek Executive Park in San Jose for $54.5M

by Amy Works August 14, 2020

SAN JOSE, CALIF. — Machine Investment Group, a newly created New York-based real estate investment platform, has launched its business with the purchase of Stevens Creek Executive Park in San Jose. An undisclosed seller sold the asset for $54.5 million. Machine Investment acquired the property in partnership with Miramar Capital Advisors. Situated on 9.2 acres, Stevens Creek Executive Park consists of 164,986 square feet of existing office space, plus entitlements for the development of 582 multifamily units, 10,000 square feet of retail space and additional office space. The executive park is located within Stevens Creek Urban Village Plan and the Cupertino Union School District, less than two miles from Apple’s global headquarters and the Santana Row shopping district. Under the leadership of real estate veterans Andy Kwon and Eric Rosenthal, Machine Investment Group focuses on opportunistic, distressed and special-situation commercial real estate across the United States.

August 14, 2020

Development Florida Mixed-Use Southeast

Red Apple to Develop 1.3 MSF Mixed-Use Building in Downtown St. Petersburg

by Alex Tostado August 11, 2020

ST. PETERSBURG, FLA. — Red Apple Real Estate is moving forward with its development of a 1.3 million-square-foot mixed-use development in downtown St. Petersburg. The New York City-based developer filed foundation plans with the City of St. Petersburg and the Federal Aviation Administration (FAA) issued a “No Hazard Letter” for the project, meaning the project did not exceed obstruction standards and marking/lighting is not required. The 46-story development will include 300 condominiums; a 233-room hotel; 25,000 square feet of retail and restaurant space; and 20,000 square feet of office space. The condos, known as The Residences at 400, will offer one- to four-bedroom floor plans and a select number of penthouses. Amenities will include a fitness and wellness center, resident lounge, coworking space, library, theater room, seventh-floor rooftop terrace with a pool and spa, putting green, bocce court, outdoor kitchen, dog walking area and a fire pit. Residents will also have access to a glass-enclosed observatory on the 46th floor. Red Apple recently established a sales gallery across the street from the site at 465 Central Ave. Design work is underway, and Red Apple is planning for permitting of preliminary site work. The developer expects to break ground in 2021.

August 11, 2020

California Development Mixed-Use Office Restaurant Retail Western

Gaw Capital USA, DJM Unveil Plans for Ovation Hollywood Mixed-Use Project in Los Angeles

by Amy Works August 10, 2020

LOS ANGELES — Gaw Capital USA, a Hong Kong- and Los Angeles-based real estate private equity firm, and DJM, a San Jose- and Los Angeles-based private equity real estate developer, have released plans for transforming the shopping center at Hollywood & Highland into Ovation Hollywood. Upon completion in late 2021, Ovation Hollywood will be a mixed-use project offering 135,000 square feet of retail space, two floors of nearly 100,000 square feet of creative office space, 85,000 square feet of restaurant space, 65,000 square feet of entertainment space and 40,000 square feet of event space. Gensler is providing design and architectural services to update the property’s physical appearance, including a simplified façade and color scheme, new concept for the tower, an easier to navigate layout, updated landscape design, new art pieces and enhanced outdoor space. In addition to physical upgrades, the project team is focusing on refreshing the property’s tenant mix. Renovations are slated to begin later this year, with completion scheduled for late 2021.

August 10, 2020

Development Midwest Mixed-Use Nebraska

Lanoha to Develop The Row at Omaha’s Heartwood Preserve

by Kristin Harlow August 10, 2020

OMAHA — Lanoha Real Estate Co. Inc. has been selected to develop The Row at Heartwood Preserve in Omaha. Applied Underwriters Inc. owns Heartwood Preserve, a 500-acre development largely dedicated to green space and trails, and is selling blocks of land to Lanoha for the new project. The Row will serve as a town center, encompassing residential, office, hospitality, retail and entertainment offerings. Upon completion, The Row will represent a $500 million investment. CBRE has been retained for brokerage and management services. Lanoha expects construction of the first eight-acre phase to begin next year, according to the Omaha World-Herald.

August 10, 2020

Development Massachusetts Mixed-Use Northeast

Callahan Construction Completes 550,000 SF Mixed-Use Redevelopment in Malden, Massachusetts

by Taylor Williams August 6, 2020

MALDEN, MASS. — Callahan Construction Managers has completed a project in the northern Boston suburb of Malden that redeveloped the former Malden Center transit station into a 550,000-square-foot mixed-use destination. Rebranded J. Malden Center, the property now connects the Malden MBTA station with 25,000 square feet of retail and restaurant space, 320 residential apartments and a civic office condominium that now serves as Malden City Hall. CBT Architects designed the project. Jefferson Apartment Group developed the multifamily component, which offers a mix of studio, one- and two-bedroom units and 30,000 square feet of indoor and outdoor amenity space.

August 6, 2020

Development Midwest Mixed-Use Ohio

Phase II Development of Mixed-Use Project Surrounding Pro Football Hall of Fame in Canton, Ohio Expected to Begin This Year

by Kristin Harlow August 5, 2020

CANTON, OHIO — Hall of Fame Resort & Entertainment Co. (NASDAQ: HOFV) is working with multiple financial partners to obtain funding to move forward with Phase II of a massive mixed-use project surrounding the Pro Football Hall of Fame in Canton. The project is named the Hall of Fame Village Powered by Johnson Controls. Phase I included the construction of the Tom Benson Hall of Fame Stadium and the National Youth Football and Sports Complex. The stadium was dedicated in 2017. The developer expects to break ground on Phase II in the near future. Plans for Phase II include the following: a 75,000-square-foot office building; a premium hotel; a football-themed indoor waterpark; a 138,000-square-foot sport, event and convention facility; and a retail promenade featuring restaurants, retail and experiential entertainment offerings. Phase II is expected to take two-and-a-half to three years to complete. Hall of Fame Resort & Entertainment Co. was created in early July after a merger with Gordon Pointe Acquisition Corp. The company is now public and owns the Hall of Fame Village Powered by Johnson Controls. Mike Crawford is president and CEO. He previously led development of projects such as Downtown Disney in California and the Shanghai Disney …

August 5, 2020

Farley Building Penn District Manhattan NYC

Development Leasing Activity Mixed-Use New York Northeast Office Top Stories

Facebook Leases 730,000 SF of Office Space at Vornado’s Farley Building in Manhattan

by John Nelson August 4, 2020

NEW YORK CITY — Facebook (Nasdaq: FB) has signed a lease to fully occupy the office portion of The Farley Building, a mixed-use project under construction in Manhattan. The landlord, Vornado Realty Trust (NYSE: VNO), is redeveloping the historic property, which was formerly the James A. Farley Post Office Building. The social media giant will occupy 730,000 square feet in the building. A timeline for the move-in and the number of employees moving into Farley was not disclosed. “The Farley Building will further anchor our New York footprint and create a dedicated hub for our tech and engineering teams,” says Robert Cookson, Facebook’s vice president of real estate and facilities. The Farley Building spans a double-wide city block between 31st and 33rd streets and 8th and 9th avenues. The property is part of Vornado’s Penn District development. Vornado owns more than 10 million square feet in Penn District, which is undergoing a $2 billion redevelopment, not including infrastructure and transit improvements by City of New York totaling $3 billion. Penn District includes the Farley Building, Penn 1 and Penn 2, all of which are under construction. Penn 1 and 2 are redevelopments of One Penn Plaza and Two Penn Plaza, …

August 4, 2020

Development Mixed-Use Multifamily Nevada Retail Western

TRU Development, MultiGreen Properties to Build 336-Unit Apartment Community Near Las Vegas

by Amy Works July 31, 2020

HENDERSON, NEV. — TRU Development, in partnership with capital partner and real estate operating company MultiGreen Properties, has acquired a 19-acre land parcel at the southeast corner of Galleria Drive and Boulder Highway in Henderson. Terms of the acquisition were not released. The partnership plans to develop theAPEX @galleria, a 336-unit apartment community with 3.8 acres of retail development available for sale, ground lease or build to suit. Apartments will be available for lease in March 2021. The Henderson development is the first of many planned theAPEX-branded communities throughout Nevada. In the next 12 months, TRU is slated to break ground on a total of 670 units under theAPEX brand in southern Nevada, 358 units under the KAKTUSlife brand and more than 600 units under theAPEX brand in northern Nevada.

July 31, 2020

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