Mixed-Use

The term “mixed-use” appears to be all the rage, possibly a victim of its own success. A similar phenomenon occurred in the retail world with the introduction of the term “lifestyle center.” As a concept grows in popularity there is the natural inclination to capitalize on the movement, which can ultimately lead to watering down the concept. However, despite a trend toward reducing the term “mixed-use” to its lowest common denominator, namely having two different product types, Nebraska’s mixed-use developers have remained dedicated to a meaningful and synergistic combination of several product types: office, residential, retail and food and entertainment. Nebraskan’s zeal for creating sizable mixed-use projects has provided its residents a variety of developments possessing a genuine and meaningful sense of place and community. Although there’s more mixed-use projects in the making for the Husker State, for the purpose of this article we’ve chosen five projects that best represent the state’s mixed-use development. These developments not only create a desirable feel, but positively impact the larger community. Frankly, it’s one thing to have a successful mixed-use development where live, work and play isn’t just a marketing tag line. But, it’s a whole different matter when a project’s success spills …

FacebookTwitterLinkedinEmail

AUBURN HILLS, MICH. — Detroit Pistons owner Tom Gores and Schostak Brothers & Co. have formed a joint venture to redevelop the Palace of Auburn Hills and its surrounding land. Schostak will serve as the lead partner and manage the future mixed-use development, which is expected to include research & development companies, technology firms, as well as corporate offices. Neither financial terms nor a timeline was disclosed. The Pistons organization is preparing to move its remaining team and business operations from The Palace to the new Henry Ford Detroit Pistons Performance Center, which is scheduled to be complete this fall. The Pistons played at The Palace from 1988 until they began playing at Little Caesars Arena in downtown Detroit in 2017.

FacebookTwitterLinkedinEmail

AVENTURA, Fla. — Rieber Developments has unveiled plans for 12|12 Aventura, a mixed-use project with offices for medical professionals, a luxury senior living component and retail. The project is planned for a plot in Aventura, a northern suburb of Miami. Designed by Arquitectonica, 12|12 Aventura will be a 12-story complex consisting of 30,000 square feet of commercial retail space, 30,000 square feet of offices, a 150-unit luxury senior living component and a structured parking garage. The retail space will include a Chelsea Market-style food hall on the ground floor. The community will join a sister project, Ivory 214, currently under construction nearby. Ivory 214 will feature medical and professional office space, as well as a Hilton-branded hotel. The two projects will combine as the center of what the developer is calling the “Aventura Medical District.” Located less than one mile from Aventura Mall and directly adjacent to Aventura Hospital, 12|12 Aventura will benefit from more than 300 surrounding medical practices, and Aventura Hospital’s designation as a Level II trauma center — one of only two facilities in Miami-Dade County with this designation. Cervera Real Estate is the exclusive brokerage for leasing efforts. ID & Design International is outfitting the interiors …

FacebookTwitterLinkedinEmail
Kentish-Town-Los-Angeles-CA

LOS ANGELES — Parkview Financial has funded a $16.5 million construction loan to Los Angeles-based 5050 Pico LLC for the development of Kentish Town, a mixed-use project in Los Angeles. Located at 5050 W. Pico Blvd., the 60,110-square-foot property will feature 79 residential units and 2,121 square feet of ground-floor retail space. Additionally, the asset will include one grade-level parking area and one subterranean parking level, totaling 67 spaces. Community amenities will include two rooftop decks, a bike room with storage and a residential lounge. Apartments are available in a mix of studio and one-bedroom floorplans, averaging 601 square feet. Units will feature engineered hardwood/vinyl flooring, a full kitchen with stainless steel appliances and an in-unit washer/dryer, as well as balconies on the majority of the apartments. Eight of the units will offer below-market-rate rents.

FacebookTwitterLinkedinEmail

PORTLAND, ORE. — BPM Real Estate Group has unveiled plans for a 35-story tower in downtown Portland that will feature a mix of condominiums, office space, retail and the Pacific Northwest’s first Ritz-Carlton hotel. Project costs are estimated at $600 million. The tower will be built on the current site of the Alder Street Food Cart Pod, a collection of street food vendors that recently announced it would close at the end of this month. Construction of the project is slated to begin before the end of the year for completion in early 2023. Marriott International Inc. recently signed a contract to bring the Ritz-Carlton Residences brand to the tower with 251 hotel rooms and 138 condominiums. Marriott will also operate that portion of the development, which will be the city’s first five-star hotel, according to Marriott. Plans also call for retail space and a ground-level food hall, while details on the office portion have not yet been released. The new tower will be one of the five tallest buildings in Portland upon completion, offering views of the city, Cascade Mountains and Willamette River. The site is a few blocks from Pioneer Courthouse Square, the most-visited tourist destination in Oregon, …

FacebookTwitterLinkedinEmail
Hub-Scripps-Ranch-San-Diego-CA

SAN DIEGO — Sudberry Properties has started construction of The Hub at Scripps Ranch, a mixed-use redevelopment project located at 9850 Carroll Canyon Road in San Diego’s Scripps Ranch submarket. Situated on 9.5 acres, The Hub will features 260 apartments and 10,700 square feet of retail and restaurant space. The property is slated to open in phases, with the first apartments and commercial spaces available for occupancy in the fourth quarter of 2020. The Hub will consist of five four-story, garden-style residential buildings, a leasing center, 2,053-square-foot gym, lounge and a terrace overlooking a landscaped pool area, as well as high-visibility locations for restaurants and retailers. The property will feature apartment units in a mix of one-, two- and three-bedroom layouts, ranging from 614 square feet to 1,391 square feet. Interior amenities will include stainless steel appliances, quartz countertops, wood-style flooring and in-unit washers/dryers. The development team includes MVE Architecture, Reylenn Construction Co., Pasco Laret Suiter & Associates, GroundLevel Landscape Architecture and Design Tec. Matt Mosser of Retail Insite is handling leasing for the property. Aldon Cole and Olga Walsh of HFF arranged a construction loan through a commercial bank, as well as mezzanine financing from a correspondent life company …

FacebookTwitterLinkedinEmail

MONROEVILLE, PA. — Next Tier Connect has acquired the former Westinghouse Nuclear headquarters campus in Monroeville. The 505,000-square-foot campus is located at 4350 Northern Pike, 15 miles east of downtown Pittsburgh. The property comprises two buildings connected by a common entrance. Other features of the facility include 206,000 square feet of contiguous space on the second, third and fourth floors of the East Tower; a shipping and receiving area with three loading docks. This is the first acquisition by Next Tier Connect, which is a recently formed partnership between New York City-based companies Next Tier HD and RedBird Capital Partners. The new partnership plans to reposition the property and rebrand it as Next Tier Connect — Pittsburgh East. The two buildings are currently home to several Fortune 500 companies for office, call center, business continuity, and data center spaces. Next Tier Connect has also signed new tenants since closing on the sale. In a press release announcing the new company, RedBird and Next Tier HD officials said, “Next Tier Connect will seek to acquire mixed-use, mission-critical real estate properties and data center-related properties across the United States.” Mission-critical real estate assets are purpose-built facilities designed to support the most essential …

FacebookTwitterLinkedinEmail
First-Harbor-Park-Santa-Ana-CA

SANTA ANA, CALIF. — Primior is scheduled to break ground on First Harbor Plaza, the firm’s mixed-used development in Santa Ana, on June 26. Located at the intersection of North Harbor Boulevard and West First Street, the two-building First Harbor Plaza will offer 40,129 square feet of restaurant, retail, office and medical office space. Building 1 features 14,400 square feet in two large anchor suites and five smaller spaces on the first floor and the same configuration on the second floor. Building 2 will include 3,880 square feet on the first floor, two suites on the second floor totaling 3,778 square feet and a 3,778-square-foot suite on the third floor. Chase Bank will occupy the first-floor corner space at Building 1, and Optima Salon Studios will occupy the third-floor suite at Building 2.

FacebookTwitterLinkedinEmail

ARLINGTON, VA. — American Real Estate Partners (AREP) has unveiled its plans to redevelop and rebrand the Rosslyn Metro Center in Arlington’s Rosslyn neighborhood. AREP began the $35 million project earlier this month. Rosslyn City Center is a 62,000-square-foot former mall located directly above the Rosslyn Metro Station. Completion is scheduled for third-quarter 2020. Rosslyn City Center is located at 1700 N. Moore St., three miles east of downtown Arlington and less than five miles from Amazon’s HQ2 campus. The redevelopment will include transforming the existing structure on the site, improving pedestrian accessibility, and adding a conference facility, flexible work space, a 30,000-square-foot fitness studio and an outdoor terrace. AREP will bring in Austin, Texas-based Oz Rey to manage a 12-stall food hall.

FacebookTwitterLinkedinEmail

BENSALEM, PA. — NAI Mertz has negotiated the sale of a 7,140-square-foot building in Bensalem, Pennsylvania, located northeast of Philadelphia. The property is located along the Bristol Pike and includes office, retail and industrial space. Joe Sternberg, Adam Lashner and Jeffrey Licht of NAI Mertz represented the seller, Medimpex Holdings LLC, in the transaction. The buyer was not disclosed.

FacebookTwitterLinkedinEmail