Mixed-Use

Cushman & Wakefield Arranges $10.8M Sale of Mixed-Use Building in Manhattan

by David Cohen April 15, 2019

NEW YORK CITY — Cushman & Wakefield has arranged the $10.8 million sale of an 8,076-square-foot mixed-use building in the NoLita neighborhood of Manhattan. Located at 51 Spring St., the six-story property is comprised of 15 residential apartments and two retail spaces. The retail component of the space is currently leased to two restaurants through December 2021. Robert Burton, Robert Shapiro, Bobby Carrozzo and Jordan Sutton of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between Javeri Capital and DNA Development.

April 15, 2019

Loans Mixed-Use Texas

CBRE Arranges $14.2M Construction Loan, Equity for Mixed-Use Project in Metro Houston

by Taylor Williams April 12, 2019

SUGAR LAND, TEXAS — CBRE has arranged a $14.2 million construction loan and $3.4 million in equity for the development of Riverstone Town Center, a 63,000-square-foot mixed-use project in Sugar Land, a southwestern suburb of Houston. The property, construction of which is underway and expected to last about nine months, will be located within the Cross Creek master-planned development. Jeff Stein of CBRE arranged 94 percent of the capital stack, including the floating-rate construction loan with a regional bank that carried a 76 percent loan-to-cost structure and a 25-year amortization schedule. The borrower was The Marcel Group, a private developer based in The Woodlands.

April 12, 2019

Development Midwest Mixed-Use Ohio

Nationwide Realty Investors Unveils Plans for Additional Development at Grandview Yard in Columbus

by Kristin Harlow April 10, 2019

COLUMBUS, OHIO — Nationwide Realty Investors has unveiled plans for additional development at Grandview Yard, a mixed-use project in Columbus. Construction has begun on a new two-story, 34,000-square-foot office building on the north side of Goodale Boulevard. Columbus-based law firm Carlile Patchen & Murphy LLC will occupy approximately 17,000 square feet on the second floor. Completion is slated for spring 2020. Nationwide also has plans for The Junction, a three-building townhome development comprising 20 two-story residences. Townhome residents will have access to The Yard Club, Grandview Yard’s residential amenity building and clubhouse featuring a pool, fitness center and community room, as well as a mix of retail and dining options. When fully complete, Grandview Yard will encompass 1.2 million square feet of office, restaurant, retail and hospitality space as well as parks and approximately 1,500 residential units.

April 10, 2019

Development Loans Mixed-Use New York Northeast

Bank OZK Provides $95M Construction Loan for Mixed-Use Development on Upper East Side

by David Cohen April 9, 2019

NEW YORK CITY — Bank OZK has provided a $95 million construction loan for an 85,000-square-foot, 15-story mixed-use condominium development on the Upper East Side of Manhattan. Located at 150 E. 78th St., the project will include 25 condominium units as well as several thousand square feet of ground-floor retail space. Bank OZK provided the financing to Midwood Investment & Development and EJS Real Estate. Terms of the financing were not disclosed. The developer plans to break ground on the project this summer.

April 9, 2019

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Negotiates $1M Sale of Mixed-Use Building in Long Island City

by David Cohen April 8, 2019

NEW YORK CITY — Cushman & Wakefield has arranged the $1 million sale of a mixed-use building in Long Island City. Located at 5105 34th St., the three-story, 2,360-square-foot property is fully renovated and consists of one commercial unit on the ground floor and two residential units on the upper floors. Stephen Preuss of Cushman & Wakefieldrepresented the undisclosed seller in the transaction. The buyer was Latino 2000 USA Inc.

April 8, 2019

Acquisitions Florida Mixed-Use Retail Southeast

Mast Capital Acquires Mixed-Use Shopping Center in Fort Lauderdale for $43M

by Alex Tostado April 5, 2019

FORT LAUDERDALE, FLA. — Mast Capital has acquired The Quay, a 73,000-square-foot mixed-use shopping center in Fort Lauderdale. The Quay sits on seven acres along South 17th Street near the Stranahan River, three miles south of downtown Fort Lauderdale. The asset was fully leased at the time of the sale to tenants including Boatyard Restaurant, the United States Postal Service and Chipotle Mexican Grill. The property also includes a two-story office building and Boathouse of Fort Lauderdale marina. Hudson Capital Group Inc. sold The Quay. CIT Bank provided acquisition financing, and Roberto Susi of Axiom Capital Advisors arranged the sale.

April 5, 2019

Acquisitions Mixed-Use New York Northeast

CBRE Negotiates $1.3M Sale of Mixed-Use Property in Brooklyn

by David Cohen April 4, 2019

NEW YORK CITY — CBRE has negotiated the $1.3 million sale of a mixed-use building in the Flatbush section of Brooklyn. Located at 2837 Church Ave., the 4,500-square-foot property is comprised of four apartments and a 1,500-square-foot, ground-floor retail space. The property was fully occupied at the time of sale. Elli Klapper, Charles Berger and Jay Gelbtuch of CBRE represented the undisclosed seller in the transaction. The buyer was also undisclosed.

April 4, 2019

Development Mississippi Mixed-Use Southeast

Mattiace Development to Open Phase II of Mixed-Use Project Near Jackson, Mississippi

by Alex Tostado April 2, 2019

RIDGELAND, MISS. — Mattiace Development Co. is expecting a fall opening for Phase II of Colony Park, a mixed-use development in Ridgeland. The second phase includes Malco Theaters’ six-screen, 25,000-square-foot boutique movie theater and a water feature. Outside the Lines (OTL) will design and construct the water fountain, which will feature 62 nozzles that will shoot water 35 feet high, audio, lighting and effects for a concert-quality experience. Colony Park is situated at 1000 Highland Colony Parkway, about 12 miles north of downtown Jackson.

April 2, 2019

Development Mixed-Use New Jersey Northeast

Hampshire Cos., Pinnacle To Redevelop Retail Plaza in Montclair, New Jersey

by David Cohen April 2, 2019

MONTCLAIR, N.J. — The Hampshire Cos., along with joint venture partner Pinnacle Cos., have announced plans to redevelop Lackawanna Plaza in Montclair. The planned 216,772-square-foot mixed-use development is expected to revitalize the complex through the development of a range of modern retail, office and residential spaces while preserving historical elements of the station. Originally built in 1913, Lackawanna Plaza was a stop on the Delaware, Lackawanna, and Western Railroad until the station’s closure in 1981. The redevelopment plan seeks to reactivate the Plaza through the creation of retail, residential and office spaces while preserving the unique history of the existing buildings. The site will be anchored by a 28,509-square-foot Lidl grocery store. In addition to Lidl, the plan calls for 35,714 square feet of retail space and 21,032 square feet of office space. A 153-unit mixed-use residential building is also planned for the east side of the site along Grove Street. Construction is slated to start later this year.

April 2, 2019

Acquisitions Mixed-Use New Jersey Northeast

Marcus & Millichap Negotiates $1.3M Sale of Mixed-Use Building in New Jersey

by David Cohen April 2, 2019

JAMESBURG, N.J. — Marcus & Millichap has negotiated the $1.3 million sale of a mixed-use building in Jamesburg. Located at 196 Buckelew Ave., the 11,750-square-foot property consists of retail space, a warehouse and two apartment units. Alexander Pildes, Greg Babaian and Michael Lombardi in Marcus & Millichap’s New Jersey office, represented the seller, a private investor, in the transaction. The buyer was undisclosed.

April 2, 2019

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