Mixed-Use

Magnetic Capital Breaks Ground on 100,000 SF Mixed-Use Building in Denver

by Amy Works May 29, 2024

DENVER — Magnetic Capital has broken ground on 2nd & Adams, a mixed-use building located at 2nd Street and Adams Avenue in the Cherry Creek submarket of Denver. Slated for completion in third-quarter 2025, 2nd & Adams will feature 80,000 square feet of office space and 20,000 square feet of retail space. The building will have multiple food, beverage and retail concepts across the ground-floor space, and the rooftop will feature a 5,600-square-foot bar and restaurant. Bow River Capital, a Denver-based private alternative asset manager, has pre-leased 30,000 square feet of office space at 2nd & Adams for the company’s headquarters. The project team includes OZ Architecture as architect and Mortenson Construction as general contractor. Blake Holcomb of CBRE is handling leasing for the project.

May 29, 2024

Development Maryland Mixed-Use Southeast Top Stories

MCB Real Estate to Develop 280-Acre VIVA White Oak Mixed-Use Project Near Washington, DC

by Kristin Harlow May 29, 2024

SILVER SPRING, MD. — MCB Real Estate has unveiled plans to develop VIVA White Oak, a 280-acre mixed-use project anchored by healthcare space in Silver Spring, approximately six miles north of downtown Washington, D.C. Plans call for 3 million square feet of lab, office, research and medical space; 525,000 square feet of retail; 3,000 square feet of hotel space; 75,000 square feet of senior living; 4,500 private residences; and 85 acres of open space. MCB is currently working with stakeholders and public officials to refine the specifics, but the healthcare component will focus on the life sciences and biohealth industries. MCB plans to break ground in the second quarter of 2025, with the first phase of retail slated to open in mid-2028. The development will offer direct access to U.S. Route 29 and is near the University of Maryland. The project site, which has been approved for 12 million square feet of mixed-use development by Montgomery County, is adjacent to the U.S. Food and Drug Administration headquarters and near the Adventist HealthCare White Oak Medical Center. According to the Washington Business Journal, VIVA White Oak was originally a $3 billion project spearheaded by Global LifeSciences Development Corp. but was long …

May 29, 2024

Development Mixed-Use Texas

Spire Realty Group Completes $70M Renovation of Mixed-Use Property in Downtown Fort Worth

by Taylor Williams May 28, 2024

FORT WORTH, TEXAS — Spire Realty Group has completed the $70 million renovation of City Place, a mixed-use property in downtown Fort Worth. Built in the 1970s to house the headquarters of Tandy Corp., City Place comprises two 18-story office buildings totaling 539,000 square feet, an Aloft Hotel and 31,000 square feet of retail and restaurant space. Spire Realty acquired the property, which is located at the intersection of Throckmorton and 3rd streets, in 2011. Since then, the Dallas-based investment firm has overseen a full renovation of One City Place; added the Aloft Hotel; invested millions in capital improvements; and turned a vacant mall on the property into City Place Center, which includes structured parking and the retail and restaurant components.

May 28, 2024

Acquisitions California Mixed-Use Multifamily Office Retail Western

Marcus & Millichap Brokers Sale of 2,867 SF Fifth & Penn Mixed-Use Property in San Diego

by Amy Works May 28, 2024

SAN DIEGO — Marcus & Millichap has arranged the sale of Fifth & Penn, a mixed-use property in San Diego. Tom Fine of TJF 5th Ave LLC sold the asset to Daniel Heimler of DAH Penn LLC for $1.6 million. Located at 441-43 Pennsylvania Ave., the 2,867-square-foot property offers ground-floor restaurant space and an apartment and creative office space on the second floor. The buyer plans to occupy the apartment, while the restaurant and office tenants will remain at the building. Ross Sanchez and Nick Totah of The Totah Group in Marcus & Millichap represented the seller and procured the buyer in the deal.

May 28, 2024

Acquisitions California Mixed-Use Multifamily Retail Western

Cityview, Greystar Sell Elan Mountain View Mixed-Use Property in California

by Amy Works May 24, 2024

MOUNTAIN VIEW, CALIF. — Cityview and Greystar have completed the disposition of Elan Mountain View, a mixed-use property at 1030 Castro St. in the Bay Area city of Mountain View. Terms of the transaction were not released. Developed in 2018, Elan Mountain View offers 164 apartments and 11,000 square feet of fully occupied ground-floor retail space. The community features studio, one-, two- and three-bedroom floor plans with smart thermostats, keyless entry, quartz countertops, modern cabinetry, full-tile kitchen backsplashes, wood vinyl plank flooring, stainless steel appliances and full-size washers and dryers. Select units feature street-level walk-up entrances, as well as private patios and balconies. Community amenities include a fully equipped fitness center; two-level club room with billiards table and chef’s kitchen; hammock lounge; edible garden pathway; private business center; and a courtyard with lounge seating, an outdoor kitchen, fireplaces and a fruit garden. Additionally, the property offers 164 storage units to residents and secured access parking. Current onsite retailers include Rose International Market, Mr. Sun, Le’s Alterations, Tanya’s Hair Design and Oh! Honey Macaron.

May 24, 2024

California Development Mixed-Use Multifamily Retail Western

Simon to Develop Mixed-Use Project at Fashion Valley Shopping Center in San Diego

by Amy Works May 23, 2024

SAN DIEGO — Simon has announced plans for the development of a new mixed-use project at its Fashion Valley shopping center in San Diego. Upon completion, the redevelopment project will add 100,000 square feet of new retail space to the center, as well as new restaurants and an 850-unit, AMLI-branded apartment community. Construction is scheduled to begin in late 2025, with completion anticipated in late 2026. Fashion Valley recently underwent a multimillion-dollar capital improvement program and added brands Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. New tenants Celine, Christian Louboutin and Fendi have also signed leases at the property.

May 23, 2024

Development Florida Mixed-Use Multifamily Office Retail Southeast Top Stories

Joint Venture Plans Mixed-Use Redevelopment of The Quay Shopping Center in Fort Lauderdale

by Katie Sloan May 23, 2024

FORT LAUDERDALE, FLA. — A joint venture between BH Group, PEBB Enterprises and Related Group is set to begin the mixed-use redevelopment of The Quay shopping center in the Harbordale neighborhood of Fort Lauderdale. The joint venture recently acquired the 73,000-square-foot center for $48.5 million. Located at 1515 SE 17th St., the property currently features restaurants, retail space, a marina and a two-story office building. Redevelopment plans for the seven-acre site include the addition of up to 361 residential units and 12,000 square feet of retail and restaurant space. The existing property will also undergo improvements that align with the new development. Amerant Bank provided financing for the acquisition of the property. The transaction closed on May 22. A timeline for the project was not announced, but additional details are expected to be released over the coming months. This development marks the third joint venture between BH Group, PEBB Enterprises and Related Group. The companies are also partnering on a major mixed-use redevelopment at 6600 North Military Trail, formerly an Office Depot headquarters, in Boca Raton. Miami-based BH Group is a development firm focused on luxury projects across South Florida. The company has experience in acquisition, construction, design, capital structuring and asset management. …

May 23, 2024

Acquisitions Mixed-Use Multifamily Retail Washington Western

Cushman & Wakefield Negotiates $4.5M Sale of Villa Luisa Mixed-Use Property in Seattle

by Amy Works May 21, 2024

SEATTLE — Cushman & Wakefield has arranged the sale of Villa Luisa, a vintage mixed-use apartment and retail community in Seattle’s Ballard neighborhood. The asset traded for $4.5 million. The names of the seller and buyer were not released. Situated on the corner of NW 60th St. and 15th Ave. NW, Villa Luisa features 16 apartments and four ground-floor retail spaces. Originally built in 1927, the two-story building offers a mix of studios, one- and two-bedroom apartments and on-site parking. Current retail tenants are Nolita Italian bistro, The Wax Bar, a mini-mart and an art studio. Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard, Dylan Roeter and Byron Rosen of Cushman & Wakefield represented the seller in the deal.

May 21, 2024

Development Industrial Mixed-Use Multifamily Retail Texas Top Stories

SE Legacy Development Breaks Ground on $7.4B Master-Planned Project in South Texas

by John Nelson May 21, 2024

LAREDO, TEXAS — SE Legacy Development LLC, a development firm founded by the Walker Family, has broken ground on a $7.4 billion master-planned project in South Texas. The development, named Talise, will be situated on 13,000 acres north of Laredo in an unincorporated portion of Webb County. Situated at the intersection of I-35, U.S. Highway 83 and Texas Highway 255, Talise will feature thousands of single-family and multifamily residences, an industrial and manufacturing park, town center retail space, regional airport and a newly discovered water source. The name Talise is a term with Native American-Iroquoian roots meaning “lovely water.” The Walker Family, a multi-generational entity that has owned ranch land spanning more than 250,000 acres over the course of its history, owns the land for Talise and is investing $1.6 billion in the development. The Walker Family discovered the water source on the land and is proposing a way to use the resource as an alternative solution to current water shortages in Laredo and Webb County. The newly established Legacy Water Supply Corp. is proposing a method to treat 50 million gallons of water within the Talise land holdings daily. SE Legacy Development is drilling 40 water wells to access …

May 21, 2024

Development Mixed-Use Multifamily Southeast Tennessee

McShane Construction to Build 34-Acre Mixed-Use Development in Franklin, Tennessee

by John Nelson May 16, 2024

FRANKLIN, TENN. — McShane Construction Co. will build Ellison Cool Springs, a 34-acre mixed-use project in Franklin, approximately 20 miles south of Nashville. Upon completion, the property will comprise 332 apartments and 15 commercial units across three four-story buildings. McShane will construct the project on behalf of the developer, Fluornoy Development Group. Designed by Dynamik Design, amenities at the development will include an outdoor pool, clubroom, fitness center, recording studio, hospitality bar, focus room, pet spa and a car wash. Additionally, the property will feature two two-story parking garages and five standalone six-bay garages. Residences will include apartments in one-, two- and three-bedroom layouts, with select two-story, live-work units. The project team expects to deliver Ellison Cool Springs in August 2026.

May 16, 2024

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