Mixed-Use

Columbia Development Unveils Name, Plans for Mixed-Use Community in Triangle

by Camren Skelton October 4, 2017

CARY, N.C. — Columbia Development has unveiled the name of the new mixed-use development in Cary’s Eastern Gateway. The project will be named Fenton, after the town’s namesake Samuel Fenton Cary. The Wegmans-anchored community will feature 2.5 million square feet of Class A office space, street-level retail, restaurants, hotel and multifamily residences. Wakefield Beasley & Associates is Fenton’s principal architect, and McAdams and Glenda S. Toppe & Associates are providing planning services. McAdams is also the project’s landscape architect. Ron Pfhol and Dotan Zuckerman of Columbia, S.C.-based Columbia Development will handle the project’s retail leasing assignment. Fenton will feature a mix of national, regional and local retailers including a boutique movie theater, chef-driven restaurant concepts and wellness offerings including yoga, Pilates, indoor cycling and health spas. William Allen of Trinity Partners will oversee the office leasing portion.

October 4, 2017

Georgia Mixed-Use Southeast

Banyan Street Capital Unveils Plans for Peachtree Center in Downtown Atlanta

by Camren Skelton October 3, 2017

ATLANTA — Banyan Street Capital has unveiled plans to revitalize Peachtree Center, a mixed-use development in downtown Atlanta, with new restaurants, retail and entertainment tenants. The project will transform Peachtree Center’s three-story retail center and outdoor courtyard, rebranding the new space as “The Hub.” Atlanta-based developer and architect John Portman Jr. originally designed Peachtree Center, which comprises six buildings centrally located over the MARTA Peachtree Center Station. The development is home to 6,000 office tenants and connected to 4,000 hotel rooms via sidewalks and sky bridges. The Beck Group, an Atlanta-based construction firm, will modernize the 1960s-era development by redesigning the courtyard to better accommodate pedestrian foot traffic, upgrading all finishes and furnishings, updating lighting to brighten the space and modernizing entrances with backlit glass panels and steel canopies. Along with the renovations, The Hub will feature a new lineup of restaurants, shops, entertainment experiences and boutique services such as fitness and grocery. Amy Fingerhut of CBRE is overseeing the project’s retail leasing assignment. The project is slated for completion in spring 2019.

October 3, 2017

Mixed-Use Multifamily New York Northeast Retail

Metropolitan Avenue Associates Acquires Mixed-Use Building in Brooklyn for $11.3M

by Amy Works September 29, 2017

NEW YORK CITY — Metropolitan Avenue Associates has purchased a six-story mixed-used building located at 524 Metropolitan Ave. in Brooklyn’s Williamsburg neighborhood. Pinny and Moishe Loketch of the Loketch Group sold the property for $11.3 million. The 12,160-square-foot building features 20 apartment units and two commercial spaces, which are leased to Yola’s Café. At the time of sale, the building was fully occupied. Brendan Maddigan, Ethan Stanton and Michael Gignate of Cushman & Wakefield represented the seller in the deal.

September 29, 2017

District of Columbia Mixed-Use Southeast Top Stories

Madison Marquette, PN Hoffman to Open Phase I of $2.3B Mixed-Use Project in Washington, D.C.

by Kristin Harlow September 29, 2017

WASHINGTON, D.C. — Co-developers Madison Marquette and PN Hoffman will open The Wharf on Oct. 12 in Washington, D.C. Phase I of the $2.3 billion project will deliver two office buildings, two apartment towers, two luxury condominium buildings and three hotels, as well as restaurants and retail space. The Wharf is a mixed-use waterfront community that stretches across 24 acres of land and more than 50 acres of water. The development features 3.5 million square feet of new residential, office, hotel, retail, marina and public uses including waterfront parks, promenades, piers and docks. Madison Marquette and PN Hoffman broke ground on the project in March 2014. Phase II construction will begin in the coming months, with delivery scheduled for 2021. Four entertainment piers extend into the Potomac River, one of which will be used as an ice rink in the winter. The Transit Pier will accommodate water taxis. Anthem, a 6,000-seat concert hall, will open with a launch concert by the Foo Fighters. David Rockwell designed the interiors of the venue. Washington, D.C.-based Madison Marquette is a private real estate investment manager, developer, operator and service provider. PN Hoffman is a real estate developer also based in D.C. — Kristin …

September 29, 2017

Mixed-Use Multifamily New York Northeast Retail

Greater Jamaica Development Selects Developer for 500,000 SF Mixed-Use Project in Queens

by Amy Works September 27, 2017

NEW YORK CITY — The Greater Jamaica Development Corp. has selected a joint venture between BRP Cos. and Wharton Properties to purchase and develop a site located at 90-02 168th St. in the Queens’ neighborhood of Jamaica. The open-air parking lot will become an approximately 500,000-square-foot development with more than 300 mixed-income residential units and more than 70,000 square feet of retail space. Construction is slated to begin in the second half of 2018.

September 27, 2017

Mixed-Use Retail South Carolina Southeast

Stiles Signs Publix to Anchor New Mixed-Use Project in Charleston

by Camren Skelton September 27, 2017

CHARLESTON, S.C. — Fort Lauderdale, Fla.-based Stiles has signed Publix to anchor Point Hope Commons, a 90,000-square-foot shopping center located within Cainhoy Plantation, a mixed-use community under development in Charleston. Point Hope Commons will be designed with a low country architectural theme and feature spaces for gathering and dining, with direct frontage along Clements Ferry Road. Stiles’ development team based in the company’s Charlotte office is managing the Point Hope Commons portion of the project, and Eric Meyer and Fritz Meyer of Meyer Kapp & Associates are providing property leasing representation. DI Development Co. is managing Cainhoy Plantation, which is being developed by combination of Guggenheim corporate and family interests. Upon completion, Cainhoy Plantation will include up to 9,000 single-family residences, a 264-unit apartment community and over 500 acres of retail, restaurant and office space.

September 27, 2017

Connecticut Mixed-Use Multifamily Northeast Retail

IPA Brokers $39.6M Sale of Mixed-Use Property in New Haven, Connecticut

by Amy Works September 26, 2017

NEW HAVEN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of The Novella, a mixed-use property located in New Haven. 1245 Chapel Street LLC acquired the property from RMS Chapel Street for $39.6 million. The Novella features 136 apartment units above the 1,135-square-foot Chapel Street Pharmacy, 3,380 square feet of available retail space and 85 parking spaces. Victor Nolletti, Steve Witten and Eric Pentore of IPA represented the seller and procured the buyer in the deal.

September 26, 2017

Mixed-Use North Carolina Southeast

Ally Financial to Anchor 742,000 SF Mixed-Use Development in Uptown Charlotte

by Camren Skelton September 21, 2017

CHARLOTTE, N.C. — Ally Financial has signed on to anchor a 742,000-square-foot mixed-use project in Uptown Charlotte. Crescent Communities will break ground on Ally Charlotte Center at 601 S. Tryon St. in the first quarter of 2018. Ally Financial will lease 400,000 square feet and is expected to move to the new space when the building delivers in 2021. In addition to office space, plans for the 26-story tower include ground-level retail and restaurant space, a parking garage and a hotel. The building is situated near a LYNX light rail system stop and Interstate 277. Chase Monroe and Chris Schaaf of JLL represented Ally in the lease transaction, and Charley Leavitt and Barry Fabyan of JLL represented Crescent Communities. The Charlotte-based company specializes in the development of residential and mixed-use communities, including Piedmont Town Center, Coliseum Centre and the River District in Charlotte.

September 21, 2017

Michigan Midwest Mixed-Use Top Stories

Bedrock Plans $2.1B in Developments in Downtown Detroit Totaling 3.2 MSF

by John Nelson September 21, 2017

DETROIT — Bedrock, Dan Gilbert’s Detroit-based commercial real estate development and investment firm, has unveiled a package of four developments totaling $2.1 billion in new investment that will add to Detroit’s skyline. Totaling 3.2 million square feet, Bedrock expects to create both construction and permanent jobs totaling up to 24,000. “Detroit is going vertical,” says Gilbert, who also founded Quicken Loans Inc. and owns the Cleveland Cavaliers of the National Basketball Association. “In fact, that is the only way to create any type of significant expansion in the city because we are virtually at full occupancy for residential and commercial space in both downtown and midtown.” Gilbert adds that “transformational” projects like these are necessary to both accommodate the expansion of current downtown businesses and make Detroit a legitimate competitor for new businesses and massive opportunities, including Amazon’s HQ2. Gilbert, Detroit Mayor Mike Duggan and other elected officials and community members gathered at the historic Book Tower to unveil the following projects: The Hudson’s Site — The approximately $900 million, 1 million square-foot redevelopment of the old Hudson’s site will include the tallest tower in Detroit. Crain’s Detroit Business reports that the building will rise 80 stories, which would top …

September 21, 2017

Loans Massachusetts Mixed-Use Multifamily Northeast Retail

Cornerstone Realty Capital Arranges $38.5M in Financing for Mixed-Use Development in Boston

by Amy Works September 20, 2017

BOSTON — Cornerstone Realty Capital has arranged $38.5 million in financing for Mount Vernon Co.’s development of a mixed-use building, located at the intersection of Western Avenue and Leo M Birmingham Parkway in Boston’s Brighton neighborhood. Cornerstone secured the fixed-rate financing structure, including an interest-only period during construction followed by a 30-year amortization schedule. The six-story building will feature parking for 108 vehicles; three on-street retail spaces totaling 4,578 square feet; residential amenity space, including a rooftop multipurpose room and fitness center; storage for 132 bicycles; 115 market-rate apartments; and 17 affordable apartments. The unit mix includes 53 studios, 43 one-bedroom/one-bath units, 16 one-bedroom/one-bath units with a den and 20 two-bedroom/two-bath units. Ranging from 520 square feet to 906 square feet, the units will feature vinyl plank and tile flooring, Silestone countertops, tile backsplashes, stainless steel appliances and in-unit washers and dryers.

September 20, 2017

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