Mixed-Use

NAP Begins Vertical Construction at Colony Square in Midtown Atlanta, Announces May Openings

by John Nelson April 29, 2019

ATLANTA — North American Properties (NAP) has begun vertical construction on the redevelopment of Colony Square, a massive mixed-use campus in Midtown Atlanta. The two components going vertical include the Main & Main food hall operated by Oz Rey and the new IPIC movie theater. In May, NAP plans to open a new 10,000-square-foot urban park named The Grove and a new Starbucks in Building 100. Reopenings at Colony Square in May include a Chick-fil-A, the bike house C-Cycle for Colony Square’s office tenants, the lobby of Building 400 and Establishment, which will debut its patio and outdoor bar this summer. Opening later this year is sushi restaurant Sukoshi, and NAP has commissioned an all-female team to paint a mural titled “Moon Goddess” that front Peachtree Street. Colony Square at full buildout will include 912,000 square feet of Class A office space, 160,000 square feet of retail and restaurants, a 466-room W hotel, outdoor space and 262 luxury residences. NAP is planning for Colony Square’s grand opening in May 2020. Colony Square’s project team includes office leasing firm Cushman & Wakefield, architect of record Lord Aeck Sargent, lead design firm Beyer Blinder Belle, landscape architect Site Solutions, general contractor Hoar …

April 29, 2019

Acquisitions Mixed-Use New Jersey Northeast

NKF Arranges Sale of 183,000 SF Mixed-Use Property in Metro Philadelphia

by Taylor Williams April 29, 2019

CHERRY HILL, N.J. — Newmark Knight Frank (NKF) has arranged the sale of a 183,000-square-foot mixed-use property in Cherry Hill, an eastern suburb of Philadelphia. The sales price was approximately $13.6 million. The facility, which was fully leased to Hikma Pharmaceuticals at the time of sale, includes warehouse, office, distribution and lab space. The property’s location offers convenient access to Interstate 295 and the New Jersey Turnpike. Mike Margolis, Dave Dolan, Dave Garonzik, Kenneth Zakin and David Noonan of NKF represented the seller, Ingerman & Ginsburg, in the transaction. The buyer was not disclosed.

April 29, 2019

Colorado Development Mixed-Use Office Restaurant Retail Western

Confluent, Kelmore Break Ground on 140,000 SF Boulevard at Lowry Mixed-Use Project in Denver

by Amy Works April 26, 2019

DENVER — Confluent Development and Kelmore Development have broken ground on The Boulevard at Lowry, a commercial mixed-use redevelopment project in Denver’s Lowry neighborhood. Situated on 1.5 acres, the infill development will feature 140,000 square feet of restaurant, retail and office space. A 25,000-square-foot Lucky’s Market will anchor the property. Additional tenants will include a 1,750-square-foot Logan House Coffee Co. Completion is slated for fourth-quarter 2020.

April 26, 2019

Florida Loans Mixed-Use Southeast

Dockerty Romer Arranges $53.1M Loan for Refinancing of Mixed-Use Asset in Miami’s Coconut Grove

by John Nelson April 26, 2019

MIAMI — Dockerty Romer & Co. has arranged a $53.1 million permanent loan for the refinancing of Mayfair in the Grove, a three-story mixed-use asset in Miami’s Coconut Grove neighborhood spanning 281,066 square feet. Situated adjacent to the Mayfair Hotel & Spa, the property features office and retail space spread across three buildings. Mayfair in the Grove was 94.1 percent leased at the time of financing to tenants including Sony Music, Sapient Technologies, Regus and General Electric. Craig Romer and Chris Romer of Dockerty Romer, a RECA (Real Estate Capital Alliance) member, arranged the 10-year, fixed-rate loan through Guggenheim Partners on behalf of the borrower, Whalou Properties Management.

April 26, 2019

Georgia Hospitality Mixed-Use Retail Southeast

Tri-Land Breaks Ground on Redevelopment of 253,000 SF Shopping Center in Metro Atlanta

by John Nelson April 25, 2019

CONYERS, GA. — Tri-Land Properties Inc. has begun construction on the overhaul of Salem Gate Market, a 253,000-square-foot grocery-anchored shopping center in Conyers, about 25 miles southeast of Atlanta. The multimillion-dollar redevelopment will include a 55,000-square-foot Hobby Lobby, 20,000-square-foot Northern Tool + Supply, a 103-room hotel and an Allure Nail & Spa. Tri-Land is rebuilding Salem Gate in a public-private partnership with the City of Conyers. Salem Gate is the first project underway as part of the Conyers Gateway Village District, the product of a new zoning ordinance adopted by the City of Conyers in 2016. In February, the city approved a new Tax Allocation District designation allocating future tax revenues to repay Tri-Land for its infrastructure improvement costs. The metro Chicago-based developer plans to announce additional tenants in the family fashion, sporting goods and value retail segments in the near future. Tri-Land expects to deliver Salem Gate in early summer 2020.

April 25, 2019

Development Florida Mixed-Use Multifamily Southeast

Developer Begins Construction on Retail Project, Parking Garage at $4B Miami Worldcenter

by John Nelson April 25, 2019

MIAMI — Miami Worldcenter Associates has broken ground on a 50,000-square-foot retail project and a 922-space parking garage within its namesake development, the $4 billion Miami Worldcenter underway in the city’s downtown area. The street-level retail space and new parking structure will front NE 7th Street and will ultimately be part of Miami Worldcenter’s 300,000 square feet of retail, restaurant and entertainment space. A portion of the parking garage’s rooftop will feature a rooftop amenity deck that will serve the residents of Luma, a planned 43-story multifamily tower next door. The 27-acre development, which will span 10 city blocks at full buildout, will also feature residential, office and hospitality uses.

April 25, 2019

Market Reports Midwest Midwest Market Reports Mixed-Use Nebraska

Omaha Undergoing ‘Remarkable’ Downtown Transformation

by Kristin Harlow April 25, 2019

Remarkable. It’s the word that continues to pop up in interviews and conversations relating to the present transformation occurring in Omaha’s downtown area. If you think you might be experiencing déjà vu, it’s likely because you are. After all, it wasn’t that long ago when the same word was being used to describe the transformation that took place in downtown Omaha 10 to 15 years ago. It was at that time that approximately $2.5 billion was invested in Omaha’s downtown through a combination of public and private developments. Omaha introduced a laundry list of new buildings and projects, including the city’s new arena and convention center (presently branded the CHI Health Center), TD Ameritrade Park (the home of College World Series), the 45-story First National Bank Tower, the National Park Service Building, Gallup Organization’s operational headquarters, Union Pacific’s 1.1 million-square-foot headquarters, The Holland Performing Arts Center, Roman L. Hruska Federal Courthouse and The Bob Kerrey Pedestrian Bridge. That was remarkable. What could be so “remarkable” about the current downtown Omaha transformation? The answer is a redevelopment of the Gene Leahy Pedestrian Mall as part of the $300 million Riverfront Revitalization project. You might be thinking $300 million doesn’t sound remarkable …

April 25, 2019

Acquisitions Florida Mixed-Use Southeast

Cushman & Wakefield Arranges $6.7M Sale of South Florida Development Site to Flagler Global Logistics

by Alex Tostado April 23, 2019

HIALEAH, FLA. — Cushman & Wakefield has arranged the $6.7 million sale of Transfer Turnpike, a vacant site spanning 8.6 acres in Hialeah. The buyer, Flagler Global Logistics (FGL), already owns 500 acres nearby where it is developing Countyline Corporate Park, an 8 million-square-foot business park that will offer office, warehouse and industrial space. Turnpike Transfer is situated at the intersection of 170th and 97th streets, southwest of the intersection of Interstate 75 and the Florida Turnpike and about 22 miles northwest of downtown Miami. Wayne Ramoski, Miguel Alcivar and Gian Rodriguez of Cushman & Wakefield represented the seller, Turnpike Transfer LLC, in the transaction.

April 23, 2019

California Development Mixed-Use Student Housing Top Stories Western

UC Hastings Selects Greystar as Master Developer of $450M Student Housing Village in San Francisco

by John Nelson April 23, 2019

SAN FRANCISCO — The University of California Hastings College of the Law (UC Hastings) has selected Greystar Real Estate Partners LLC as the master developer of its planned on-campus academic village in downtown San Francisco. Charleston, S.C.-based Greystar plans to build the $450 million project in two phases. “We are excited to be moving forward with Greystar to further develop this vibrant academic village in the heart of San Francisco,” says David Faigman, chancellor and dean at UC Hastings. The law school is situated in downtown San Francisco near the Supreme Court of California and San Francisco City Hall. Phase I of the new project will be the ground-up construction of 630 student housing apartments available for students, faculty and staff. The first phase is estimated to cost $250 million to develop, which will be funded using tax-exempt bonds. UC Hastings and Greystar plan to open the first phase in time for the fall 2022 semester. Phase II is the approximately $200 million renovation of McAllister Tower, a historic on-campus dormitory. The overhaul will update 300 units and add new mixed-use amenities, including a fitness center, study lounges, community kitchens, social lounges and a new auditorium. Overall, the expansion will …

April 23, 2019

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Arranges Sale of Two Development Sites in Queens for $2.9M

by Taylor Williams April 22, 2019

NEW YORK CITY — Cushman & Wakefield has arranged the sale of two commercial development sites located on 31st St. in the Astoria neighborhood of Queens for a combined total of $2.9 million. Each site is zoned for mixed-use development and will include a residential component. Stephen Preuss and Andreas Efthymiou of Cushman & Wakefield represented the undisclosed sellers in the transaction. A trio of private investors purchased the property.

April 22, 2019

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