REBusinessOnline

4S Bay Partners Acquires Redevelopment Site in Baldwin Hills Crenshaw Corridor of Los Angeles for $24M

LOS ANGELES — Chicago-based 4S Bay Partners has purchased a 1.8-acre land parcel at 3701 W. Stocker St. in the Baldwin Hills Crenshaw Corridor of Los Angeles. Sticks Holdings LLC and an affiliate of Optimus Properties sold the asset for $24 million. James Daughrity of Daughrity Real Estate represented the buyer and seller in the deal.The property is located in a designed Opportunity Zone with a transit-oriented development designation, which allows for pedestrian-friendly and …

Time Century Holdings Receives $23.6M Construction Loan for Jewelry Center in Downtown Miami

MIAMI — Time Century Holdings, a New York-based real estate investment and development firm, has received a $23.6 million construction loan to build a mixed-use project known as Time Century in downtown Miami. City National Bank of Florida provided the loan for the 225,000-square-foot project.Time Century Holdings will use the funds for Phase I, which consists of the wholesale retail space of the building, including the basement, ground, mezzanine and second floors. Phase II, planned …

Connell Underway on $400M Mixed-Use Redevelopment in Berkeley Heights, New Jersey

BERKELEY HEIGHTS, N.J. — New Jersey-based developer The Connell Company is underway on The Park, a $400 million mixed-use redevelopment project in the Northern New Jersey community of Berkeley Heights. The development spans 185 acres and will feature office, hospitality, residential and retail uses, as well as a network of jogging and nature trails, upon completion in 2023. Connell is set to begin construction this year on The District, a phase that will include some 300 apartments, as well …

SL Green Agrees to Sell 25 Percent Interest in Manhattan Mixed-Use Building for $275M

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has entered into an agreement to sell its 25 percent interest in Tower 46, a mixed-use building located at 55 W. 46th St. in Manhattan, for $275 million. SL Green acquired its stake in the building, which includes office, retail and multifamily uses, in 2014. The buyer is a fund backed by Brookfield Asset Management. Paul Gillen, Anthony Ledesma and Kyle van Buitenen of Hodges Ward Elliott represented SL Green in the transaction, which is …

Private Developer Nearing Completion of Mixed-Use Condo Project in Downtown Nashville

NASHVILLE, TENN. — Jim Jacobs, a private developer based in Nashville, is nearing completion of Muse, a short-term rental condominium building in downtown Nashville. Jacobs created Muse Nashville LLC to purchase the site of the building in 2019, according to the Nashville Post. The company also secured a $15.5 million to finance the project.In addition to 55 condos, of which three quarters are presold, Muse will offer a lobby designed by ES|DG, cardio fitness center, a luggage drop, …

Aspen Heights to Redevelop Former Healthcare Site in Downtown Austin into 36-Story Mixed-Use Property

AUSTIN, TEXAS — Locally based student housing developer Aspen Heights Partners will redevelop the site of the former Health-South rehabilitation facility in downtown Austin into a mixed-use destination. Current plans for the site, which is located at the corner of 12th and Red River streets, call for a 36-story residential tower that will consist of 160 condos and 348 apartments, a 15-story office building, more than 25,000 square feet of retail space and a half-acre park. More than 25 …

JLL Arranges Sale of Mixed-Use Marina in Miami

MIAMI — JLL Capital Markets has arranged the sale of Monty’s Coconut Grove, a fully leased mixed-use marina in Miami’s Coconut Grove neighborhood. Also known as Bayshore Landing, the property features retail, office and restaurant. Manny de Zárraga, Luis Castillo, Ted Taylor and Kim Flores of JLL marketed the property on behalf of the seller, Aligned Bayshore Marina LLC. Suntex Ventures LLC purchased the asset for an undisclosed price. Monty’s Coconut Grove is situated along …

ARG Bull Creek Underway on 76-Acre Grove at Shoal Creek Mixed-Use Project in Austin

AUSTIN, TEXAS — Developer ARG Bull Creek Ltd. is underway on construction of The Grove at Shoal Creek, a 76-acre mixed-use project located at the intersection of 45th Street and Bull Creek Road in Austin. Master plans for the development call for 1,150 residential units in single-family and multifamily formats, 185,000 square feet of office space and 140,000 square feet of retail space. The developer is a joint venture between MileStone Community Builders, which is handling the residential …

Audubon to Develop $55M Apartment Community in Metairie, Louisiana

METAIRIE, LA. — Audubon will develop a five-story, $55 million apartment community in Metairie known as The Metro at Clearview. The 270-unit development will feature units averaging 925 square feet and leases ranging from an average of $1,500 to $3,000 per month. The apartment complex is the multifamily component of Clearview City Center, a redevelopment of the former Clearview Shopping Center. The $100 million mixed-use development, owned by the Richards family, sits on a 35-acre site …

Dynamic Star Unveils Plans for $3.5B Fordham Landing Mixed-Use Project in The Bronx

NEW YORK CITY — Connecticut-based developer Dynamic Star has unveiled updated plans for Fordham Landing, a mixed-use project in the University Heights neighborhood of The Bronx that is valued at $3.5 billion, according to Crain’s New York. Current plans call for 3,000 market-rate and affordable housing units, 800,000 square feet of life sciences space, 600,000 square feet of office space, 50,000 square feet of retail space, an 80,000-square-foot public school and 12 acres of open green …

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