Mixed-Use

Third & Urban, FCP Unveil Plans for 160,000 SF Mixed-Use Redevelopment in Nashville

by Camren Skelton September 26, 2018

NASHVILLE, TENN. — Third & Urban and FCP have acquired the former Madison Mill, located along Charlotte Avenue in Nashville, with plans to redevelop the site into a 160,000-square-foot office and retail project. Dubbed Sylvan Supply, the project will be divided into six buildings connected by open corridors and terraces, providing outdoor workspaces for tenants. The development will feature 130,000 square feet of creative office space with open floor plans, large windows and outdoor space, as well as 27,000 square feet of retail and dining space. The redevelopment will preserve the existing buildings, which were originally used for the production of high-quality wood products. Centric Architecture and landscape architect Hodgson Douglas are designing the project, and Gay Construction is the general contractor. Bo Tyler, Bill Adair and Ashley Albright of JLL are handling the office leasing, while Elliott Kyle of Equitable Property Co. is handling the retail leasing. The development team will break ground on Sylvan Supply next month, with completion scheduled for the fourth quarter of 2019.

September 26, 2018

Development Massachusetts Mixed-Use Northeast

Nauset Construction Breaks Ground on 46-Unit Mixed-Use Development in Cambridge

by David Cohen September 25, 2018

CAMBRIDGE, MASS. — Nauset Construction has broken ground on St. James Place, a transit-oriented, mixed-use development in the Porter Square neighborhood of Cambridge. Acorn Holdings LLC is developing the project, which is located at 2013 Massachusetts Ave. The development will include 46 condominiums, 2,000 square feet of retail space and a new parish hall for the St. James Episcopal Church. Architectural firm Dumont, Janks, Goldberg, Reed LLC designed the condominium complex.

September 25, 2018

Florida Loans Mixed-Use Southeast

TREO Group Receives $33M Construction Loan for Mixed-Use Waterfront Project in Miami’s Coconut Grove

by Camren Skelton September 25, 2018

MIAMI — The TREO Group has received a $33 million loan from FirstBank Florida for the construction of Regatta Harbour, a mixed-use waterfront development located in Miami’s Coconut Grove neighborhood. The project will be located at Dinner Key, a marina complex situated along the shore of Biscayne Bay. Upon completion, the 100,000-square-foot development will include retail space, three waterfront restaurants and a rooftop event space, dubbed Harbour Terrace. Historic airplane hangars dating back to the early 1900s will be used to create approximately 40,000 square feet of space for a food hall, specialty market, fitness or entertainment concept. In addition, Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station and 700 feet of transient floating docks. Architecture firm Arquitectonica is designing the project, which will be delivered in multiple phases. The new dry-storage marina is scheduled for completion in November, the retail component in the summer of 2019 and the waterfront restaurants in 2020. Lyle Stern and Sara Wolfe of Koniver Stern Group are handling the project’s leasing assignment.

September 25, 2018

Development Mixed-Use New York Northeast

Ackman-Ziff Arranges $97M Loan for Site Acquisition, Development of Mixed-Use Project in Manhattan

by Jeff Shaw September 19, 2018

NEW YORK CITY — Ackman-Ziff Real Estate Group LLC has arranged a $97 million loan for the site acquisition and development of 540 Sixth Avenue in Manhattan’s Flatiron district. The site is located on the northeast corner of 14th Street and 6th Avenue at the nexus of three downtown submarkets: Flatiron, Chelsea and Greenwich Village.The borrowers, Landsea Homes and DNA Development LLC, acquired the property from Extell Development and plan to build a mixed-use building with residential and retail space at the site. An affiliate of Mack Real Estate Credit Strategies provided the loan, which was arranged by Patrick Hanlon, Sean Meehan and Ross Cumming of Ackman-Ziff Real Estate Group LLC. A timeline for the project was not disclosed.

September 19, 2018

28 Austin Street Apartments, a mixed-use development in Newton, Mass.

Development Loans Massachusetts Mixed-Use Northeast

HFF Secures $30.1M Construction Loan for Mixed-Use Development Near Boston

by Jeff Shaw September 19, 2018

NEWTON, MASS. — HFF has secured a $30.1 million construction loan for the 28 Austin Street Apartments, a mixed-use development in Newton. The property will consist of 68 one- and two-bedroom apartment homes, 5,000 square feet of ground-floor retail space, a new public plaza and a 124-space municipal parking lot. Amenities will include a common roof terrace and garden as well as a private 90-car underground parking garage. HFF worked on behalf of the borrower, a joint venture between Dinosaur Capital Partners and Oaktree Development, to secure financing through Eastern Bank. The project is scheduled for completion in spring 2019.

September 19, 2018

Acquisitions Mixed-Use New Jersey Northeast

Marcus & Millichap Brokers $2.8M Sale of Mixed-Use Building in Fairview, New Jersey

by David Cohen September 18, 2018

FAIRVIEW, N.J. — Marcus & Millichap has brokered the $2.8 million sale of a mixed-use building in Fairview. The property consists of eight residential and five commercial spaces as well as a parking garage. Daniel Aviles and Andrew M. Zuckerman of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was a limited liability company in a 1031 exchange.

September 18, 2018

Development Georgia Mixed-Use Southeast

Grubb Properties Unveils Plans to Develop 19-Acre Mixed-Use Project in Metro Atlanta

by Camren Skelton September 18, 2018

DUNWOODY, GA. — Grubb Properties is moving forward with Park at Perimeter Center East, a 19-acre mixed-use project in Dunwoody, roughly 17 miles north of Atlanta. The Charlotte-based company has submitted a rezoning request to the Dunwoody City Council to rezone the site from “Office Industrial” to include residential and retail. The proposed project would include a mix of 900 condominiums, 500,000 square feet of new office space, approximately 12,000 square feet of retail space and three acres of green space. The site is already home to three office buildings totaling 285,000 square feet. After acquiring the site, Grubb Properties refreshed the buildings’ interiors and updated the lobbies. The buildings house tenants such as Veritas Collective, Alzheimer’s Association, Hotel Equities and Marx Okubo Associates. Grubb Properties will focus on making the project walkable and bikeable, encouraging the utilization of nearby transit options such as MARTA. Park at Perimiter East will have a 12-foot shared-use path around the perimeter that will run alongside an existing bike lane. An approval timeline and construction schedule were not disclosed.

September 18, 2018

Development Illinois Midwest Mixed-Use

Developer Unveils Revised Plan for Union Station Project in Chicago

by Kristin Harlow September 13, 2018

CHICAGO — Riverside Investment & Development, with its development partner Convexity Properties, has unveiled a revised plan for the Union Station redevelopment project in Chicago. The biggest change is the elimination of a 404-unit apartment structure that the developers had initially proposed to place atop the historic Union Station building, according to local media reports. Instead, Riverside plans to develop a one-story addition with hotel rooms. The other change is a 1.5-acre plaza and park along Jackson Boulevard and Clinton Street at the base of a proposed 50-story office tower. BMO Harris Bank is in talks to anchor the office property, according to local media sources. The new proposal will still have to clear many hurdles, including approval from city officials. In June, the developer faced criticism for its initial proposal largely because of the glass apartment building. Last year, Amtrak, which owns the station, selected the development team for the $1 billion project. The train station originally opened in 1925. Today, it handles about 140,000 passengers on an average weekday.

September 13, 2018

Acquisitions Midwest Minnesota Mixed-Use

Ackerberg Purchases 26,854 SF Mixed-Use Building in Minneapolis

by Kristin Harlow September 13, 2018

MINNEAPOLIS — Ackerberg has purchased the Williams Pub building in the Uptown neighborhood of Minneapolis for an undisclosed price. The 26,854-square-foot mixed-use building is located at 2909-2911 Hennepin Ave. Ackerberg plans to rename the building The Carling, as the property once housed The Carling Hotel. The new owner plans to renovate the lobby and façade in order to differentiate the office portion from the space occupied by Williams Pub. Mary Burnton and Teresa Lingg of Newmark Knight Frank will handle lease-up of the property’s office component.

September 13, 2018

Development Mixed-Use Texas

Triple Crown Begins 80,000 SF Mixed-Use Redevelopment Project in Houston

by Taylor Williams September 12, 2018

HOUSTON — Triple Crown Investments has begun work on Southside Commons, an 80,000-square-foot redevelopment project in Houston. The developer will convert the former site of Palace Bowling Lanes, located at 4191 Bellaire Blvd., into a mixed-use development. Individual components will include 10,000 square feet of retail space, 30,000 square feet of entertainment/restaurant space and 40,000 square feet of office and medical office space. Arch-Con Construction is serving as general contractor on the project, which is expected to open in late summer 2019.

September 12, 2018

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