REBusinessOnline

CRG, Shapack Partners to Redevelop Former Bridgford Food Plant in Chicago into 750,000 SF Mixed-Use Project

CHICAGO — A joint venture between CRG and Shapack Partners has acquired the former Bridgford Foods Corp. food processing facility in Chicago’s Fulton Market district with plans to redevelop the site into a 750,000-square-foot mixed-use project. The development is slated to feature 250 apartment units, 350,000 square feet of Class A office space, 150 boutique hotel rooms and 40,000 square feet of retail space.Located at 170 N. Green St., the project site spans nearly an entire city block …

ECI, Phoenix Capital Begin Construction on $101M Apartment Community in Roswell, Georgia

ROSWELL, GA. — A joint venture between ECI Group and Phoenix Capital has broken ground on Averly East Village, a $101 million luxury apartment and townhome community in the Atlanta suburb of Roswell. The developers expect to deliver the property in late 2024. Truist Financial provided construction financing for the project, which Rule Joy Trammell Rubio Architects designed. The multifamily project is part of a mixed-use redevelopment of East Village Shopping Center, and Ardent Cos. will …

Gray Television Inks Deal with NBCUniversal for 43-Acre Studio Campus in Metro Atlanta

DORAVILLE, GA. — Gray Television Inc. has entered into an operations agreement with NBCUniversal Media LLC to lease and operate a new studio campus spanning 43 acres in metro Atlanta. The Assembly Studios facilities will be situated within Gray’s Assembly Atlanta project, a 135-acre mixed-use development in Doraville that once housed GM’s Assembly plant. NBCUniversal’s lease with Gray will include a suite of facilities needed to support TV and film production. The new facilities will …

PMG, Greybrook Realty Partners Break Ground on 31-Story Mixed-Use Development in Midtown Atlanta

ATLANTA — PMG and Toronto-based Greybrook Realty Partners have broken ground on Society Atlanta, a 31-story mixed-use development at 811 Peachtree St. in Midtown Atlanta. Designed by Cooper Carry, the mixed-use property will feature 460 residential units, 81,000 square feet of office space and 16,500 square feet of retail space. Juneau Construction Co. is serving as general contractor for project, which is slated to open in late 2024.Society Atlanta will offer traditional layouts …

Ariel Property Advisors Arranges $9.9M Sale of Mixed-Use Building in The Bronx

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $9.9 million sale of a mixed-use building located in the Mount Hope area of The Bronx. The property comprises five market-rate apartments, 10,600 square feet of vacant office/community space and ground-floor retail space that is leased to T-Mobile and a regional pharmacy. Vanbarton Group sold the asset to an undisclosed buyer. Jason Gold, Victor Sozio and Daniel Mahfar of Ariel Property Advisors brokered the …

Which Way is the Retail Pendulum Swinging?

Although the pandemic wreaked havoc on the retail sector in general, the culling of weak concepts has left space for strong retailers to flourish. The retail industry is seeing an explosion in experiential retail, medical/dental space is ubiquitous and non-traditional tenants are jumping at opportunities to secure prime locations.[caption id="attachment_318617" align="alignright" width="100"] George Macoubray,NAI Elliott[/caption]As a result, shopping centers have proven very resilient, …

UIP Plans $112M Canvas Mixed-Use Project in Hyattsville, Maryland

HYATTSVILLE, MD. — Urban Investment Partners Inc. (UIP) has secured debt and equity financing for Canvas, a $112 million mixed-use development in downtown Hyattsville.The six-story project will be located at 5300 Baltimore Ave. and feature 285 one- and two-bedroom apartments, 31,660 square feet of ground-floor retail space and 681 parking spaces.Washington, D.C.-based UIP is financing the project using $27.1 million in equity, including $19.1 million from crowd-sourced capital raised …

Crescent Communities Sells 375-Unit Novel Lucerne Apartments in Orlando

ORLANDO, FLA. — Crescent Communities has sold Novel Lucerne, a 375-unit apartment community in Orlando, to Knightvest Capital and funds managed by Oaktree Capital Management LP. Newmark brokered the transaction, the sales price of which was not disclosed.Floor plans at Novel Lucerne come in a mix of one-, two- and three-bedroom configurations. Amenities include a resort-style pool with grilling stations; resident lounge with event kitchen and workspaces; fitness center with a separate …

Partnership Breaks Ground on 16.2 MSF Mixed-Use Redevelopment of Suffolk Downs Racetrack Near Boston

REVERE, MASS. — The HYM Investment Group, Cathexis and National Real Estate Advisors have broken ground on the redevelopment of the former racetrack site at Suffolk Downs in Revere, about five miles north of Boston. The project will ultimately span 16.2 million square feet of development, including 10,000 apartments and condominiums; 5.2 million square feet of life sciences and office space; 450,000 square feet of retail and civic space; and 40 acres of parks and open space.The Suffolk …

Akridge, National Real Estate Development Break Ground on Stacks Residential Project in D.C.

WASHINGTON, D.C. — Akridge and National Real Estate Development have broken ground on Phase I of The Stacks, a residential development in Washington, D.C.’s Buzzard Point neighborhood. Situated along the Anacostia River in the city’s Capitol Riverfront district, The Stacks will comprise three towers featuring 1,100 apartments and 35,000 square feet of ground-floor retail space. More than 10 percent of the apartments will be income-restricted. Bank OZK provided construction financing for …

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‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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