Mixed-Use

San Francisco Giants Selects Partner for 28-Acre Waterfront Mixed-Use Development

by Amy Works September 7, 2018

SAN FRANCISCO — The San Francisco Giants has selected Tishman Speyer as its joint venture partner to develop Mission Rock, a waterfront mixed-use neighborhood near AT&T Park in San Francisco. The development is a public-private partnership with the Port of San Francisco and the City and County of San Francisco. Serving as the centerpiece of the emerging Central Waterfront neighborhood, Mission Rock will span 28 acres and feature approximately 1,400 residential rental units, with 40 percent affordable to low- and moderate-income families; eight acres of parks and open space, including a waterfront park; up to 1.4 million square feet of office space; 250,000 square feet of retail and local manufacturing space; a parking structure to serve ballpark and neighborhood needs; rehabilitation of the historic Pier 48; and public waterfront access and improvements, including a segment of the Blue Greenway trail connection from Embarcadero to Hunters Point.

September 7, 2018

Acquisitions Mixed-Use New York Northeast

Brookfield Properties Acquires Two Development Sites in the Bronx for $165M

by David Cohen September 6, 2018

NEW YORK CITY — Brookfield Properties has closed on the acquisition of two development sites along the Harlem River waterfront in the Bronx for $165 million. The two sites are located at 101 Lincoln Ave. and 2401 Third Ave. in the Mott Haven section of the Bronx. Brookfield plans to continue construction on a mixed-use project at the two sites that will include a total of 1,253 residential units and four retail stores. Doug Harmon and Adam Doneger of Cushman & Wakefield brokered the transaction on behalf of the buyer. Todd Soloway, Danielle Schechner, and Ari Tran of Pryor Cashman represented the seller, a joint venture comprised of affiliates of The Chetrit Group and Somerset Partners, in the transaction.

September 6, 2018

Colorado Development Mixed-Use Office Restaurant Retail Western

Unico Properties Delivers 96,000 SF Mixed-Use Building in Denver

by Amy Works September 6, 2018

DENVER — Unico Properties, with Confluent Development as construction manager, has delivered The Circa Building, a 96,000-square-foot mixed-use building located at 1615 Platte St. in Denver. The four-story building features 80,000 square feet of office space on the top three levels, 10,000 square feet of Class A retail and restaurant space on the ground level, and three levels of underground parking. Xero, an online accounting software provider, has leased 30,000 square feet of space at the property and will occupy the entire top floor of the building. Unico Properties is the owner and developer of the project, with Confluent Development managing the project’s entitlement and construction. Swinerton Builders served as general contractor and Open Studio Architecture served as architect. JLL is the broker for the office space, and Cushman & Wakefield serves as the retail lease broker.

September 6, 2018

Acquisitions Mixed-Use New York Northeast

Marx Realty Purchases Two Mixed-Use Properties in Manhattan for $48.5M

by David Cohen September 5, 2018

NEW YORK CITY — Marx Realty has purchased two mixed-use properties on the Lower East Side of Manhattan for $48.5 million. Located at 135 and 161 Bowery, the two properties include 48,000 square feet of office and retail space combined. Built in 2016, 135 Bowery is an eight-story building that includes street-level retail and office space on floors two through eight. The building is fully leased to a tenant roster that includes visual effects company Lola, creative agency Minds + Assembly, trading technology firm Tradewind and attorneys Martin Liu & Associates. Originally built in 1920 and redeveloped in 2016, the seven-story building at 161 Bowery also includes street-level retail and office space. Tenants at the fully leased building include Warner Music, Kik Interactive, advertising firm Space 150, and educational startup Brainly. Artemis Real Estate Partners was the seller for 135 Bowery, while 161 Bowery was sold by a joint venture in partnership with Ultimate Realty.

September 5, 2018

Development Florida Mixed-Use Southeast

Pointe Development, Monceau Realty Submit Bid to Develop $33.5M Town Hall, Civic Center in Miami-Dade County

by Camren Skelton September 5, 2018

SURFSIDE, FLA. — Pointe Development Co., in partnership with Monceau Realty Group, has submitted a bid to develop a new town hall and civic center in Surfside, a town in Miami-Dade County. The proposed $33.5 million development would be located at 9293 Harding Ave. and 269 93rd St., which are the sites of the current town hall and a municipal parking lot, respectively. Plans for the project include a new town hall, community rooftop park and sports area overlooking the Atlantic Ocean, a police station, 60,996 square feet of office space, 10,882 square feet of retail and restaurant space and a 431-space parking garage. An approval timeline for the project was not disclosed.

September 5, 2018

Acquisitions California Development Mixed-Use Multifamily Retail Western

Charles Dunn Co. Arranges $2.8M Sale of Land Parcel for Multifamily Development in Los Angeles

by Amy Works September 5, 2018

LOS ANGELES — Charles Dunn Co. has arranged the sale of a development site located at 729 S. Park View St. in Los Angeles. Salem Missionary Baptist Church sold the asset to Safeco LLC for $2.8 million. The 18,000-square-foot site features a 4,100-square-foot building, which the seller formerly occupied. The buyer, which owns an adjacent parcel, plans to develop 150 residential units and potentially ground-floor retail at the site. Chris Giordano, Chris Steck and John Anthony of Charles Dunn Co. represented the seller and buyer in the deal.

September 5, 2018

Development Loans Mixed-Use New York Northeast

TD Bank Arranges $18.4M Construction Loan for Mixed-Use Building in the Bronx

by David Cohen September 4, 2018

NEW YORK CITY — TD Bank has arranged an $18 million construction loan for Phoenix Estates, an eight-story, mixed-use building in the Hunts Point neighborhood of the Bronx. The 111,000-square-foot property is located at 700 Manida St. and will consist of 180 residential units for low-income seniors and moderate-income families. The first floor of the building will be a dedicated community facility used to host classes for residents of the building. TD Bank provided financing for borrowers MHANY Management Inc. and We Stay/Nos Quedamos Inc. The housing development will also benefit from a $14 million investment from the City of New York. The project is scheduled for completion by 2020.

September 4, 2018

Loans Mixed-Use Texas

Hunt Capital Provides $22.8M for Adaptive Reuse Project in El Paso

by Taylor Williams September 4, 2018

EL PASO, TEXAS — Hunt Capital Partners has provided $22.8 million in equity financing for the adaptive reuse of Blue Flame Apartments, a historic multifamily building in El Paso. Built in the 1954, the 18-story building has been vacant for the past 12 years and will now be converted into a mixed-use property with 120 affordable housing units and 39,672 square feet of commercial space. The project, which carries a total price tag of $55.3 million, is scheduled for completion by January 2020.

September 4, 2018

Acquisitions Mixed-Use Northeast Pennsylvania

Marcus & Millichap Negotiates Sale of 4,568 SF Mixed-Use Property in Philadelphia

by David Cohen August 31, 2018

PHILADELPHIA — Marcus & Millichap has negotiated the sale of a 4,568-square-foot mixed-use property in Philadelphia. The building, which is located at 262 S. 16th St., sold for $1.2 million or approximately $279.11 per square foot. Lawrence Gariano, Matthew Bess and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a limited liability company. The property is located two blocks east of Philadelphia’s Rittenhouse Square.

August 31, 2018

Acquisitions Mixed-Use Northeast Rhode Island

Sweeney Real Estate Arranges Sale of Mixed-Use Development Site in Pawtucket

by David Cohen August 30, 2018

PAWTUCKET, R.I. — Sweeney Real Estate & Appraisal has arranged the $925,000 sale of a mixed-use development site in Pawtucket. Thomas Sweeney of Sweeney Real Estate represented the seller, Ten Mile Associates LLC, in the transaction. The buyer was Churchill & Banks Cos. Located at 1110 Central Ave., the property is currently an 83,000-square-foot industrial facility with three buildings.

August 30, 2018

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