Mixed-Use

Bromley to Develop 70,000 SF Boutique Office Building at Midtown Tampa Project

by John Nelson November 27, 2019

TAMPA, FLA. — Bromley Cos. has unveiled plans for a 70,000-square-foot, standalone office building within its Midtown Tampa project called The Loft at Midtown Tampa. The three-story building will feature ground-floor retail space with boutique office space on the second and third floors. The property will offer 15-foot ceilings, skylights and an outdoor terrace. Located near Midtown Commons park, The Loft will be adjacent to the dual-branded Aloft and Element hotels and 400 planned apartments. The office space will serve as an alternative to three traditional office towers already announced for the $500 million Midtown Tampa project, which will total 750,000 square feet. The first tower, Midtown One, is currently under construction with completion expected in 2021. Robin Bishop of Cushman & Wakefield’s Tampa office is Bromley’s leasing agent for The Loft.

November 27, 2019

California Development Hospitality Mixed-Use Multifamily Office Retail Top Stories Western

Republic Urban Properties, Principal Real Estate Plan $401M Gateway at Millbrae Station Mixed-Use Project in Bay Area

by Alex Patton November 27, 2019

MILLBRAE, CALIF. — A partnership between Republic Urban Properties and Principal Real Estate Investors is preparing to break ground on a transit-oriented, mixed-use project named Gateway at Millbrae Station in Millbrae, a suburb just south of San Francisco. Located at the Millbrae Bay Area Rapid Transit (BART) station, the development will comprise 157,000 square feet of office space, 320 market-rate apartments, 80 affordable housing units, a 164-room hotel, 400 homes and 44,000 square feet of retail. Development costs are estimated at $401 million. The two developers formed a partnership called Republic Millbrae LLC, which will finance, construct and own the residential and office components of the project. “Gateway at Millbrae Station promises to be the new standard for revitalizing transit stations by increasing ridership while increasing revenues and creating much-needed affordable housing and jobs for the city of Millbrae and San Mateo County,” says Michael Van Every, president and CEO of Republic Urban Properties. The Millbrae BART Station and parking garage will remain open during construction, which is scheduled to begin on Wednesday, Dec. 4. “BART’s transit-oriented development helps the Bay Area address two of its greatest challenges: worsening traffic congestion and the lack of affordable housing,” says Bevan Dufty, …

November 27, 2019

Acquisitions Mixed-Use North Carolina Southeast

CBRE Facilitates $31.5M Sale of Historic Bowers Mixed-Use Project in Charlotte’s South End

by John Nelson November 26, 2019

CHARLOTTE, N.C. — CBRE has facilitated the sale of Bowers, a mixed-use development in Charlotte’s South End, to RMR Office Property Fund LP for $31.5 million. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller, White Point Partners, a private real estate investment firm based in Charlotte. Located at 4001 Yancey Road, Bowers is a 73,560-square-foot office and retail property consisting of three 1940s and 1950s buildings. It was the former site of Bowers Fibers, a fiber by-product manufacturer. The development houses a collection of restaurants and office space and is located near Interstate 77. After a complete redevelopment completed in 2018, Bowers is now 100 percent occupied by tenants including Artisanal Brewing Ventures, Chef Alyssa’s Kitchen, SentryOne and Investor Management Services.

November 26, 2019

Features Mixed-Use

Passive Design Strategies Help Mixed-Use Owners Maximize Sustainability, Energy Savings

by Taylor Williams November 26, 2019

At a conceptual and theoretical level, all architects support sustainability and want to make the world a better, greener place. Some states, such as California, have gone as far as establishing sustainability requirements — many that go far beyond industry standards — to ensure new buildings are designed with the environment in mind. California, for example, has the nation’s first mandatory green building standards code, CALGreen Code. This is in addition to Title 24 Energy Standards, which implement minimum energy-efficiency standards and are referenced within the LEED certification system. In California and many other states, LEED is no longer driving sustainable design, as many of the program’s basic principles have become common practice. In addition to CALGreen Code, California has adopted a new goal far tougher than LEED’s requirements: Zero Net Energy (ZNE), which is a label reserved for energy-efficient buildings whose actual annual consumed energy is less than or equal to the renewable energy generated onsite. The state’s goals for the development of ZNE buildings must be implemented in new residential construction by 2020 and commercial construction by 2030. While architects and designers in California are obligated to follow these strict requirements, building design professionals in the Southeast and …

November 26, 2019

Acquisitions Mixed-Use Multifamily Oregon Retail Western

C.E. John Co. Divests of The George Besaw Building in Portland for $23.6M

by Amy Works November 25, 2019

PORTLAND, ORE. — Vancouver, Wash.-based developer C.E. John Co. has completed the sale of The George Besaw, a multifamily and retail property located at 2323 NW Savier St. in Portland. An undisclosed buyer acquired the asset for $23.6 million. Located in Northwest Portland’s Alphabet District, The George Besaw features 51 apartment residences above three floors of retail space. Current retail tenants include Pine State Biscuits, Life of Pie, Moberi and The Barbers. The building was completed in 2018. Clay Newton, Jordan Carter and Tyler Linn of Kidder Mathews represented the seller in the transaction.

November 25, 2019

Development Kansas Midwest Mixed-Use

LANE4 Partners Moves Forward with Proposed Library-Anchored Mixed-Use Project in Olathe, Kansas

by Kristin Harlow November 22, 2019

OLATHE, KAN. — LANE4 Property Group is partnering with the city of Olathe for a proposed new library-anchored, mixed-use project downtown. The project calls for a restaurant, library and office space within a five-story building located immediately east of Olathe City Hall. The development will span 70,000 square feet. The Civic Center Park currently on the site will remain intact and be integrated into the new project. The city council approved a pre-development agreement allowing the project to move forward through the planning and zoning process, but LANE4 must present the development to the city council for approval in early 2020. Groundbreaking is slated for later in 2020.

November 22, 2019

Acquisitions Mixed-Use Southeast Virginia

NKF Brokers $60.2M Sale of Dominion Square Site in Tysons, Virginia

by John Nelson November 19, 2019

TYSONS, VA. — Newmark Knight Frank (NKF) has negotiated the $60.2 million sale of a 12-acre eastern parcel within the Dominion Square mixed-use development in Tysons, situated 13 miles west of downtown Washington, D.C. Capital Automotive Real Estate Services Inc., a McLean, Va.-based financial holding company specializing in car dealership locations, sold the parcel to an undisclosed buyer, whom the Washington Business Journal indicates is LHL Dominion Square, possibly an affiliate of New York-based Algin Management Co. LLC. The Dominion Square site is approved for 2 million square feet of office, residential, hotel and retail space near the Greensboro Metro station in Tysons. Jud Ryan, James Cassidy, Mark Anstine and Dan Lockard of NKF represented Capital Automotive in the transaction.

November 19, 2019

Development Mixed-Use Texas

DC Partners Breaks Ground on Six-Acre Mixed-Use Project in Houston

by Taylor Williams November 18, 2019

HOUSTON — Houston-based DC Partners has broken ground on The Allen, a six-acre mixed-use project located near Buffalo Bayou Park in Houston. The development will include a 99-unit condominium building, a Thompson-branded luxury hotel, an office building and retail and restaurant spaces. The grand opening of The Allen is slated for the first quarter of 2021, though the hotel is not scheduled to be complete until 2023. DC Partners is developing the project in partnership with Tianqing Real Estate Development and Westmont Hospitality Group.

November 18, 2019

Loans Midwest Mixed-Use Ohio

Kawa Provides $26M Loan to Help Fund $134.5M Acquisition of Mixed-Use Development in Ohio

by Kristin Harlow November 18, 2019

MIAMISBURG, OHIO — Kawa has provided a $26 million loan to help fund the $134.5 million acquisition of Austin Landing, an 834,630-square-foot mixed-use project in Montgomery County’s Miamisburg. Austin Landing, constructed in phases between 2009 and 2019, features office and retail space and is more than 95 percent occupied. Office tenants include Wells Fargo, UBS, Merrill Lynch, Raymond James and Baird. Retail tenants include Kroger, Kohl’s, a movie theater and 16 restaurants. An eight-acre community park provides event space. In addition to Kawa’s loan, the buyers utilized senior financing from Citi Bank and its own equity to fund the acquisition. Austin Landing North LLC, a partnership between Columbia Investments, Venture Capital Properties and A&H Acquisitions, purchased the property, according to the Dayton Business Journal. VisCap Development has managed the property since 2016.

November 18, 2019

Development Mixed-Use North Carolina Property Type Southeast Top Stories

Dewitt Carolinas Unveils Plans for $1B Midtown Exchange Project in Raleigh

by Alex Patton November 15, 2019

RALEIGH, N.C. — Dewitt Carolinas Inc. has unveiled the master plans for development of Midtown Exchange, a $1B mixed-use project in Raleigh that will feature residential, office, hotel, entertainment and retail components. The development will be built on a 40-acre lot just outside Interstate 440, north of downtown Raleigh, and will comprise 790,000 square feet of Class A office space, 125,000 square feet of retail and restaurant space, 300 hotel rooms, 300 senior living units and 1,275 residential units. The residential component will include apartments, condominiums and townhomes, but how the units will be divided was not disclosed. The site will also include a large convention center with rooftop dining space and more than seven acres of green space with water features. Local newspaper North State Journal reports that the office space will comprise two office towers connected by a sky bridge between the two top floors. Those two floors and the sky bridge will make up one large office space, intended to attract a major corporate headquarters tenant. “We envision Midtown Exchange to be a destination unlike any other in Raleigh,” says Todd Saieed, CEO and co-founder of Dewitt Carolinas Inc. “This will be a place where family entertainment …

November 15, 2019

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