Mixed-Use

CBRE Brokers Sale of Office, Multifamily Assets Within Frisco Square

by John Nelson January 4, 2018

FRISCO, TEXAS — CBRE has brokered the sale of a large portion of Frisco Square, including three office buildings and two multifamily assets that feature ground-floor retail space. The sale also includes the Cinemark Theatre and additional land development sites. The office portion was 92 percent leased at the time of sale and the retail portion was 66 percent leased to tenants including Barre 3, Mattito’s Tex Mex and Jake’s Uptown Burgers. An affiliate of Maxus Realty Trust Inc. acquired the properties for an undisclosed price. Evan Stone, Gary Carr, John Alvarado, Eric Mackey, Robert Hill, Jared Chua, Ryan Reid, Jeremy Faltys and Nita Stewart of CBRE arranged the transaction on behalf of the seller.

January 4, 2018

CBRE | Raleigh Closes $13.5M Sale of Land Site in Downtown Durham for Mixed-Use Project

by Camren Skelton January 3, 2018

DURHAM, N.C. — CBRE | Raleigh has arranged the $13.5 million sale of 4.2 acres of land located at 411 S. Roxboro St. in downtown Durham. LMC Durham Gateway Holdings LLC acquired the site with plans to develop a new mixed-use development. The site plan is approved to develop up to 212,239 square feet of office space with 9,260 square feet of ground-floor retail, 200 apartment units, a 155-room hotel with 20 condominium units and an additional 99,750 square feet of hotel or multifamily space. Chester Allen, Barry Bowling and Carlton Midyette III of CBRE | Raleigh arranged the transaction on behalf of the seller, Durham Partnership Group LLC. A construction timeline was not disclosed.

January 3, 2018

Civic Mixed-Use New York Northeast Retail

TerraCRG Arranges $53M Sale of 165,000 SF Mixed-Use Property in Brooklyn

by Amy Works January 2, 2018

NEW YORK CITY — TerraCRG has brokered the sale of 1501 Pitkin Avenue, a 165,000-square-foot mixed-use building in Brooklyn. POKO Partners sold the property to an undisclosed buyer for $53 million. Built in 1929, the former movie theater has been redeveloped into a mixed-use property featuring retail and educational space. The building features 12,371 square feet of retail space occupied by Pizza Hut, Subway and Dollar Tree, and a 152,404-square-foot charter school that serves 1,000 students. Ofer Cohen, Dan Marks, Matt Cosentino, Fred Bijou and Eric Satanovsky of TerraCRG brokered the deal.

January 2, 2018

Midwest Minnesota Mixed-Use

CBRE Arranges Sale of Two Mixed-Use Properties Totaling 95,895 SF in Minneapolis

by Kristin Harlow December 22, 2017

MINNEAPOLIS — CBRE has arranged the sale of The Broadway and Icehouse Plaza in Minneapolis for an undisclosed price. Together, the mixed-use properties total 95,895 square feet and are 98 percent leased. The Broadway, located at 945 Broadway St. NE, is a 56,156-square-foot, two-story building, which was originally constructed in 1922 and renovated in 2013. Major tenants include Spyhouse Coffee, 612Brew and CorePower Yoga. Icehouse Plaza includes two office and retail buildings totaling 39,739 rentable square feet with 13 multifamily units and an outdoor plaza. Renovated in 2011, the properties are located at 2550 and 2548 Nicollet Ave. South. Tenants include Icehouse, Eat Street Social, Black Sheep Pizza and Vertical Endeavors. Ryan Watts, Sonja Dusil, Judd Welliver and Tom Holtz of CBRE arranged the sale on behalf of the seller, Minneapolis-based developer First & First. Northpond Partners purchased the assets.

December 22, 2017

California Mixed-Use Top Stories Western

Tri-Venture Gets Approval to Develop $1.2B Mixed-Use Skyscraper in Los Angeles

by Kristin Harlow December 22, 2017

LOS ANGELES — The City of Los Angeles has selected Angels Landing Partners LLC, a partnership between the Peebles Corp., MacFarlane Partners and Claridge Properties, to manage development of the Angels Landing site, a $1.2 billion mixed-use project. The group will build the tallest building in the western United States as part of the development, according to a news . All three firms are 100 percent minority owned. Construction of the 2.2-acre site at 4th and Hill streets in Los Angeles is slated to last 41 months with a completion date scheduled for late 2024. “Our team is inspired by the opportunity to transform the Los Angeles skyline with our iconic building, enhance residential life and change how large buildings are constructed by ensuring all residents and businesses receive equal access to career and business opportunities,” says Don Peebles, chairman and CEO of the Peebles Corp. Handel Architects is designing the two-tower project. The development will include a 192-room SLS hotel and a 289-room Mondrian hotel, both to be operated by SBE Entertainment Group. Other project plans call for 425 apartments (including affordable housing), 250 condominiums, 45,000 square feet of retail and restaurant space, an elementary charter school and a …

December 22, 2017

Mixed-Use Texas

Direct Development Moves Forward on 35-Acre Mixed-Use Project in Metro Dallas

by Taylor Williams December 21, 2017

FLOWER MOUND, TEXAS — Direct Development, the Dallas-based company at which former Dallas Cowboys quarterback Troy Aikman is a principal, is moving forward with the development of The Point, a 35-acre mixed-use project in Flower Mound. Located at the intersection of FM 2499 and Silveron Boulevard, the project will deliver 215,000 square feet of Class A office space, 585 multifamily units, a 100-room Tru by Hilton hotel and the capacity for ground-floor retail and restaurant space within the office and multifamily buildings. The project also includes development of 5.5 acres of public space, including pedestrian walkways, a trailhead and green spaces. The groundbreaking is slated for fall 2018.

December 21, 2017

Midwest Missouri Mixed-Use

St. Louis Cardinals, Cordish Cos. Break Ground on $260M Second Phase of Ballpark Village in St. Louis

by Kristin Harlow December 20, 2017

ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have broken ground on the $260 million second phase of Ballpark Village. The 700,000-square-foot mixed-use expansion project will complete a full build-out of Clark Street. New buildings will be constructed on both the east and west sides of the existing Phase I development. A new street, running from 8th to Broadway streets, will be called Cardinal Way. On the east end of Cardinal Way will be a 29-story luxury residential tower called One Cardinal Way. On the west end will be a Class A office building, anchored by PricewaterhouseCoopers, and a convention hotel, Live! by Loews-St. Louis. In addition, a three-story retail pavilion just north of the existing Busch II Infield and event plaza will connect everything together. This glass pavilion will be anchored by a 31,000-square-foot Onelife Fitness. Designed by Hord Coplan Macht, the 29-story One Cardinal Way will feature 297 apartment units and 10,000 square feet of restaurant and retail space on the first floor. The building will also feature 25,000 square feet of amenity space, including an infinity edge pool, demonstration kitchen, club room, entertainment room, fitness center and conference room. Designed jointly by HKS Architects, HCM and Tao & …

December 20, 2017

Midwest Minnesota Mixed-Use

Cushman & Wakefield Arranges $19.2M Sale of Mixed-Use Property in Minneapolis

by Kristin Harlow December 19, 2017

MINNEAPOLIS — Cushman & Wakefield has arranged the sale of Riverwalk Townhomes and Flats in the North Loop neighborhood of Minneapolis for $19.2 million. The property features 96 residential units and 10,000 square feet of office condo space. The unit mix includes 40 rental townhomes and 56 apartments. Lance Steiger and Robert Dulin of Cushman & Wakefield represented the seller, James Stanton Estate. Seattle-based Goodman Real Estate purchased the property.

December 19, 2017

Florida Loans Mixed-Use Southeast

Trez Forman Capital Provides $74.8M Construction Loan for Mixed-Use Project in Orlando

by Camren Skelton December 18, 2017

ORLANDO, FLA. — Trez Forman Capital Group has provided a $74.8 million construction loan for Church Street Plaza, a 26-story mixed-use development in downtown Orlando. Trez Forman is a joint venture between Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group. Plans for the new development include 200,000 square feet of Class A office space, a 180-room hotel, a ground-floor restaurant and a rooftop bar/lounge area. Kolter Hospitality will acquire the hotel portion of the project, which is located on the northeast corner of South Garland Avenue and West South Street. The building’s parking garage will connect to the Church Street Station SunRail stop.

December 18, 2017

Illinois Midwest Mixed-Use

NYL Acquires 24-Story Mixed-Use Property in Evanston, Illinois

by Kristin Harlow December 18, 2017

EVANSTON, ILL. — New York Life Real Estate Investors has acquired The Park Evanston in the Chicago suburb of Evanston for an undisclosed price. Built in 1997, the 24-story mixed-use property features 283 apartment units and 38,940 square feet of ground-floor retail space. Amenities include a fitness center, rooftop pool, resident lounge, business center and 24-hour concierge. Whole Foods Market occupies 33,000 square feet at the property, which is located near Northwestern University. The seller was not disclosed.

December 18, 2017

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