Mixed-Use

Larken Associates Purchases 102,000 SF Mixed-Use Building in Pennsylvania

by David Cohen November 28, 2018

BETHLEHEM, PA. — Larken Associates has acquired Pinnacle @ 65, a 10-story, 102,000-square-foot, mixed-use building in Bethlehem. The sales price was undisclosed. Located at 65 E. Elizabeth Ave., the property includes 48 residential units as well as 38,000 square feet of office and retail space. The building underwent a full renovation in 2017, including upgrades to the exterior façade, windows and common area corridors. Amenities include laundry and dry cleaning pick-up and drop-off, private storage units, and a package concierge system. Larken Associates acquired the property from Post Road Management.

November 28, 2018

Development District of Columbia Mixed-Use Southeast

Former Fannie Mae Headquarters to Get New Life with $640M Mixed-Use Redevelopment

by Alex Tostado November 27, 2018

WASHINGTON, D.C. — Roadside Development and North America Sekisui House LLC (NASH) have announced that the redevelopment of Fannie Mae’s former headquarters in Washington, D.C. will be named City Ridge. The name originates from the site’s location on Wisconsin Avenue, a geological ridgeline that separates the two stream valleys of Rock Creek Park to the east and Foundry Branch to the west. The $640 million, 1.1 million-square-foot project will break ground Dec. 1. The site sits on 10 acres and is set to include 687 residential units and 100,000 square feet of office space in the historic building, plus 62,000 square feet of new office space, 153,000 square feet of retail space and more than 750 parking spaces. Grocery store chain Wegmans Food Markets will anchor City Ridge.

November 27, 2018

Acquisitions Mixed-Use New York Northeast

Ariel Property Advisors Brokers $4.5M Sale of Mixed-Use Building in Brooklyn

by David Cohen November 27, 2018

NEW YORK CITY — Ariel Property Advisors has brokered the $4.5 million sale of a four-story mixed-use building in Brooklyn Heights. Located at 77 Atlantic Ave., the 7,895-square-foot property comprises two commercial units and six apartments. Victor Sozio, Sean Kelly and Matthew Lev of Ariel Property Advisors represented the seller, Silvershore Properties, in the transaction. The buyer was 77 ATL AVE LLC. The property is located near Brooklyn Bridge Park as well as retailers Urban Outfitters and Trader Joe’s.

November 27, 2018

Florida Leasing Activity Mixed-Use Southeast

Stiles, Shorenstein Sign GreenWise at Mixed-Use Project in Downtown Fort Lauderdale

by Alex Tostado November 21, 2018

FORT LAUDERDALE, FLA. — Joint venture partners Fort Lauderdale-based Stiles and San Francisco-based Shorenstein Properties LLC have signed Publix Super Markets to a lease for its GreenWise Market brand at The Main Las Olas in downtown Fort Lauderdale. GreenWise Market is a specialty, natural and organic store featuring a variety of house-prepared meals and grab-and-go items. The Main Las Olas is under construction and will include a 25-story office building, 341-unit residential tower and ground-floor retail spanning a city block. GreenWise Market will occupy 28,000 square feet of ground-floor retail space. The Main Las Olas is slated to be completed in fall 2020.

November 21, 2018

Development Mixed-Use Texas

Convexity Properties to Develop 590,000 SF Mixed-Use Project in Dallas’ Highland Park

by Taylor Williams November 20, 2018

DALLAS — Convexity Properties, a subsidiary of Chicago-based trading firm DRW, will develop The Crossing, an eight-acre mixed-use project in Dallas. The Crossing will be located near the Mockingbird Station mixed-use development in the Highland Park area. The project will feature 90,000 square feet of street-level retail and restaurant space, as well as 500,000 square feet of multifamily space, which according to The Dallas Morning News equates to 330 units. Part of the project entails improving an existing eight-story, 225,000-square-foot office building. A timeline for construction has not yet been established.

November 20, 2018

Development Illinois Midwest Mixed-Use

The Habitat Company to Develop $200M Mixed-Use Project in Chicago’s Lawndale Neighborhood

by Kristin Harlow November 20, 2018

CHICAGO — The Habitat Company has received approval from the city’s planning commission to develop a $200 million mixed-use project in Chicago’s North Lawndale neighborhood. The Chicago Housing Authority (CHA), Sinai Health System, Cinespace Chicago Film Studios and the city of Chicago are serving as development partners for the 10-acre project. Known as Ogden Commons, the development will offer hundreds of mixed-income rental housing units in addition to approximately 120,000 square feet of retail and commercial space. The project will be situated on the site of the former CHA Lawndale development. Ogden Commons will be developed in multiple phases, with the first phase comprised of 45,000 square feet of commercial space, 15,000 square feet of retail space and a portion of the planned residences. Construction on the commercial space is expected to begin during the second quarter of 2019 with the residential work to follow. The entire development is slated for completion in 2021, at which time Cinespace and Sinai will occupy a significant portion of the commercial space, expanding on their current locations on Ogden Avenue across from the Ogden Commons site.

November 20, 2018

California Development Mixed-Use Office Restaurant Retail Western

Primestor Development Starts Construction of $48M Mixed-Use Development in Los Angeles

by Amy Works November 20, 2018

LOS ANGELES — Nadel Architects has announced that construction is underway on Jordan Downs Plaza, a $48 million mixed-use development in Los Angeles. Designed for Primestor Development, the overall $5 billion project will bring 115,000 square feet of retail and dining space to the Watts neighborhood of Los Angeles. Slated for completion in summer 2019, Jordan Downs Plaza will feature an open-air shopping and dining space, as well as a full-service supermarket, financial institutions, a fitness center, sit-down restaurants, cafés and a variety of local and national retailers. The revitalization project is situated on 10 acres and will be a “community living room” gathering-style plaza for the 34,000 area residents. The Nadel Architect team includes Greg Lyon, David Anderson, Keith Martinez and Andrew Wolff.

November 20, 2018

Acquisitions Mixed-Use Office Oregon Retail Western

Compass Commercial Brokers $6.1M Sale of Mixed-Use Complex in Bend, Oregon

by Amy Works November 20, 2018

BEND, ORE. — Compass Commercial Real Estate Services has arranged the sale of Deschutes Business Center, located at 20332-20370 Empire Ave. in Bend. An undisclosed buyer acquired the property for $6.1 million. Situated on 5.5 acres, the asset features 54,508 square feet of mixed-use space. Robert Raimondi, Russell Huntamer and Paul Weaver of Compass Commercial Real Estate, along with John Keba of Compass Commercial Asset & Property Management, represented the undisclosed seller. Weaver, Gardner Williams and Peter May of Compass Commercial represented the buyer.

November 20, 2018

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Brokers $10.5M Sale of Mixed-Use Property in Long Island City

by David Cohen November 19, 2018

NEW YORK CITY — Cushman & Wakefield has brokered the $10.5 million sale of a three-story, mixed-use property in Long Island City. Located at 44-61 11th St., the 18,500-square-foot property includes retail and office space and is fully leased to four separate tenants. Stephen Preuss of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.

November 19, 2018

Development Mixed-Use Texas

Allegro Builders Breaks Ground on 8,400 SF Mixed-Use Project in Houston

by Taylor Williams November 16, 2018

HOUSTON — Houston-based design/build firm Allegro Builders has broken ground on 841 Yale, an 8,400-square-foot mixed-use project in The Heights neighborhood of Houston. The three-story property, which is slated for a third-quarter 2019 delivery, will be marketed to office and restaurant users. Heritage Texas Properties will manage 841 Yale.

November 16, 2018

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