COLUMBIA, MD. — Kimco Realty Corp. has completed the $18.1 million redevelopment of Wilde Lake Village Center, a mixed-use development in Columbia that features 230 residential rental units, 30,000 square feet of office space, 41,000 square feet of retail space and 20,000 square feet of restaurants. As part of the redevelopment, Kimco is remerchandising the center and has recently executed leases with three tenants. Starbucks Coffee is opening both a café and a drive thru in the fall, Dynamic Dental Care LLC opened in December and Salons by JC is scheduled to open early this fall above David’s Natural Market.
EVANSTON, ILL. — Marcus & Millichap has arranged the sale of The Chandler’s Building in Evanston, 12 miles north of Chicago, for $5.7 million. The building is located at 630 Davis St. near Northwestern University. The mixed-use property features office space and 23,929 square feet of ground-floor retail space. The property was built in 1910 with renovations completed in 2010. The building was 70 percent occupied at the time of sale. The buyer was a private real estate investor satisfying a 1031 exchange. The seller was 630 Davis Street LLC. Stephen Lieberman and Kyle Stengle of Marcus & Millichap represented the sale on behalf of ownership.
ENDICOTT, N.Y. — Houlihan-Parnes has brokered the sale of a mixed-use property located at 10 Delaware Ave. in Endicott. An undisclosed buyer acquired the asset for $1.1 million. The property consists of 75 multifamily units, 26,406 square feet of commercial space and an additional loft building that can be converted into 10 apartments. Ed Graf of Houlihan-Parnes represented the undisclosed seller in the deal.
CHICAGO — Jameson Commercial Real Estate has brokered the sale-leaseback of a mixed-use property in Chicago’s Fulton Market district for $1.7 million. The building, which consists of 6,000 square feet of office and retail space, is located at 1360 W. Lake St. A longtime occupant of the building, the seller was a distributor of medical devices for the orthopedic and arthroscopic markets. An East Coast-based investor was the buyer. Ari Topper of Jameson brokered the transaction.
RENO, NEV. — Construction is underway on the Towers at Pink Hill, a mixed-use development located near the University of Nevada, Reno campus. The four-story development is the flagship project for Pink Hill Properties LLC, founded by University of Nevada basketball teammates Kevinn Pinkney and Garry Hill-Thomas. The community will offer 23 units atop three restaurants and retail space. The architect for the development is Studio HBA, Reno, and the general contractor is TFP Inc. Greater Nevada Credit Union provided financing for the development, which is scheduled to open later this year.
PHILADELPHIA — Marcus & Millichap has brokered the sale of a two-building mixed-use property located at 4343-4345 Main St. in Philadelphia’s Manayunk neighborhood. An undisclosed buyer acquired the property for $2 million, or $231,666 per unit. The asset features eight studio, one- and two-bedroom apartments and one retail unit, which is leased to Chabaa Thai and Binto. Phil Sharrow and Jonathan Massaro of Marcus & Millichap represented the undisclosed seller and secured the buyer. Additionally, Sharrow and Massaro worked with Matthew Rosenberg of Marcus & Millichap Capital Corp. to arrange a 10-year acquisition loan for the buyer.
NAPERVILLE, ILL. — Retail Properties of America Inc. (RPAI) has acquired Main Street Promenade in Naperville for $88 million. The 182,000-square-foot mixed-use property includes 103,000 square feet of retail space and 79,000 square feet of office space. The property is currently 93 percent occupied by tenants such as Anthropologie, Ann Taylor, Sur la Table and White House Black Market. The acquisition also includes a vacant parcel that can be developed into 62,000 square feet of mixed-use space. Dwight and Ruth Yackley of BBM Inc. developed the project. CBRE represented the seller, Dwight Yackley.
CHARLOTTE, N.C. — Beacon Partners has unveiled its plans for a 3.5-acre block, situated at South Tryon and Bland streets in Charlotte’s South End, that the firm is currently redeveloping. The new development will feature two eight-story buildings spanning 320,000 square feet. Named the RailYard, the project will feature office space, 30,000 square feet of retail and restaurants and 100 residential units. The site sits one block from the LYNX Bland Street Station and at the head of the Rail Trail, a 3.5-mile trail along the LYNX Blue Line. The RailYard’s buildings will feature a brick exterior, masonry, ornamental steel and glass, double-door arched entryways and open floor plates offering views of Uptown and South End. The development will include a one-acre rooftop park and an outdoor courtyard between the two buildings. The design team includes RBA Group and David Furman of Centro Cityworks. Kristy Venning and Charlie Swanson of Beacon Partners are handling the leasing. Construction on RailYard is scheduled to begin this summer.
RALEIGH, N.C. — CBRE | Raleigh has arranged the $20.3 million sale of Marketplace at Lake Boone, a mixed-use property located at the intersection of Lake Boone Trail and Gateway Access Point in Raleigh. Griffin Partners purchased the property from Singerman Real Estate. Marketplace at Lake Boone features 76,253 square feet of street-level retail space and second-story office space. According to Griffin Partners, the property was fully leased at the time of sale to tenants such as Ashton Woods, AT Allen Co., Sirius Computer Solutions, Greystone, Saracare, Buffalo Brothers, Guasaca, Bottle Revolution, Traditions Bridal and The Oaks. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh represented Singerman Real Estate in the transaction.
WATERTOWN, MASS. — The Watertown Planning Board unanimously approved the development of Arsenal Yards, a mixed-use project at the former Arsenal Mall in Watertown. Developers Boylston Properties and The Wilder Cos. plan to add a mixed-use project featuring 350,000 square feet of retail and entertainment space and 500 residences to the existing 100,000 square feet of office space. Construction is slated to begin in six to eight months. The project will feature chef-driven restaurants, a specialty grocery, a wine superstore, a cinema, market-rate and affordable apartments, and a combination of boutiques and national retailers.