Mixed-Use

WICP Underway on $200M Mixed-Use Campus Near Provo, Utah

by John Nelson November 2, 2017

LINDON, UTAH — WI Commercial Properties (WICP), a developer based in Tampa, Fla., is building out a new master-planned campus in Lindon known as Mountain Technology Center. The $200 million development is situated about 12 miles north of Provo in Utah County. WICP has already invested over $80 million in the 55-acre development and will be investing another $120 million before the project’s completion. The campus sits west of the Pleasant Grove Boulevard freeway interchange and features unobstructed mountain views with lake views to the south. At full build-out, the mixed-use development will feature 650,000 square feet of Class A office and industrial space spread over 10 buildings, as well as a food court off Pleasant Grove Boulevard. The new components coming to the campus include Mountain Tech North, which comprises an 88,000-square-foot flex industrial facility known as Mountain Tech III and the new food court. Mountain Tech III will be the first building with 32-foot clear heights in Utah County, according to WICP. Mountain Tech South is planned on the south side of Pleasant Grove Boulevard. This phase will include two four-story office buildings and four office/warehouse hybrid facilities. Construction on Mountain Tech South is scheduled to begin in …

November 2, 2017

Illinois Loans Midwest Mixed-Use

Walker & Dunlop Arranges $9.7M Refinancing for Mixed-Use Center in Chicago

by Kristin Harlow October 30, 2017

CHICAGO — Walker & Dunlop Inc. has arranged a $9.7 million loan for the refinancing of Portage Park in Chicago. Formerly a bank building, the mixed-use property now incorporates office and retail space. Situated on seven acres, the property features 60,500 square feet of rentable space and a 180-space parking lot. Tenants include Binny’s Beverage Depot, Retro Fitness and Immigration Lawyers PC. A portion of the vacant space is a historic theater that was formerly home to the Northwest Chicago Film Society, and will be preserved as a performing arts facility. Luke Erlandson, Jeff Robbins and Matt Ewig arranged the 10-year loan, which features a 30-year amortization schedule. Loan proceeds will be used to pay off an existing construction loan. Cui Properties was the borrower.

October 30, 2017

Mixed-Use Retail Southeast Virginia

Williams-Sonoma, Pottery Barn to Join Town Center of Virginia Beach

by Camren Skelton October 27, 2017

VIRGINIA BEACH, VA. — Williams-Sonoma and Pottery Barn have inked leases at the Town Center of Virginia Beach, a multi-phase mixed-use development in Virginia Beach. The homeware and home furnishings retailers will occupy a combined 18,000 square feet as part of the project’s sixth phase of development. A public-private partnership between the City of Virginia Beach and Virginia Beach-based Armada Hoffler Properties, Town Center is an ongoing development that started in 2000. The project spans 17 city blocks and features retail, dining, office space, residential units, hotels and entertainment venues. The two new retailers will be part of the latest addition to Town Center, which will include 39,000 square feet of retail and restaurant space, a 300-seat performing arts theater, an open-air public plaza and a pedestrian bridge. Williams-Sonoma and Pottery Barn are expected to open in spring 2018. Divaris Real Estate is handling retail leasing for Town Center, and S.L. Nusbaum is managing the project’s residential component.

October 27, 2017

Mixed-Use North Carolina Southeast

CBRE Brokers $6.3M Sale of Mixed-Use Center in Southeast Charlotte

by Camren Skelton October 26, 2017

CHARLOTTE, N.C. — CBRE has arranged the $6.3 million sale of Monroe Business Park, a five-building, 54,200-square-foot mixed-use center in southeast Charlotte’s Oakhurst neighborhood. Matt Smith, Patrick Gildea and Grayson Hawkins of CBRE represented the seller, Nova Capital Partners, in the transaction. An investment group affiliated with Waters Inc. purchased the asset. At the time of sale, Monroe Business Park’s tenant roster included PPG Paints, IronTribe Fitness and Common Market.

October 26, 2017

Midwest Missouri Mixed-Use

Cullinan Properties Unveils Plans for Second Phase of Streets of St. Charles in Missouri

by Kristin Harlow October 24, 2017

ST. CHARLES, MO. — Cullinan Properties Ltd. has unveiled plans for the next phase of construction at Streets of St. Charles, which is located about 25 miles northwest of St. Louis. Phase II will include a 60,000-square-foot, three-story building designed to accommodate more retail and office tenants. Construction is slated to begin in spring 2018. The building, located at the northeast corner of Beale and Lombard streets, will incorporate 20,000 square feet of ground-floor retail space and 40,000 square feet of office space. Cullinan Properties will handle leasing efforts for the retail space, while Balke Brown Transwestern will market the office space. Streets of St. Charles, which opened in 2012, features tenants such as Prasino, Tucanos Brazilian Grill, Firebirds Wood Fired Grill, Leopard Boutique, Olivino Tasting Bar and Sole & Blues.

October 24, 2017

California Mixed-Use Western

World Oil, Trammell Crow Plan 260-Acre Mixed-Use Development in Bakersfield

by Nellie Day October 20, 2017

BAKERSFIELD, CALIF. — World Oil Corp. and Trammell Crow Co. have unveiled plans for Bakersfield Commons, a pedestrian-orientated, master-planned mixed-use community located in Bakersfield. The 260-acre project will feature office, retail, residential, recreational and industrial space. Construction is slated to begin in 2018, with the first development pads delivered in late 2018. The fully approved entitlements for the commons include 400,000 square feet of office, 300,000 square feet of retail, 280,000 square feet of light industrial, more than 1,000 residential units and a 200-bed hospital. Slated for delivery in 2019, Phase I will feature 220,000 square feet of retail, 120,000 square feet of Class A office space, 325 resort-style residential units, a 130-key national branded hotel and 2.2 miles of walking paths.

October 20, 2017

Illinois Midwest Mixed-Use Top Stories

University of Illinois to Develop $1.2B Innovation Center in Downtown Chicago

by Kristin Harlow October 20, 2017

CHICAGO — The University of Illinois has unveiled plans to develop an interdisciplinary public-private research and innovation center known as the Discovery Partners Institute (DPI) in Chicago. The $1.2 billion project will be situated at The 78, a mixed-use development by Related Midwest. DPI will be developed on a donated portion of the 62-acre site bordered by Roosevelt Road, Clark Street, 16th Street and the Chicago River. The facility is the first step in the development of the Illinois Innovation Network (IIN), which will join businesses, public sector partners and research universities to focus on the study of computing and big data, food and agriculture and health and wellness. Led by the University of Illinois system, with its campuses in Champaign, Springfield and Chicago, DPI will bring together students, faculty and businesses. DPI will be operated through private donations, government support and partnerships with industry business. The size of the institute’s site at The 78 is still to be determined. A timetable for the opening is slated to be complete next year. At full operation, DPI is expected to have as many as 90 faculty members — sourced from the University of Illinois system’s three universities as well as partner …

October 20, 2017

Georgia Mixed-Use Restaurant Retail Southeast

Local Brewery to Open at Planned Mixed-Use Development in Metro Atlanta

by Camren Skelton October 19, 2017

FORSYTH COUNTY, GA. — RocaPoint Partners and The Georgetown Co. have unveiled plans to open Cherry Street Brewing at Halcyon, a 150-acre mixed-use project under development in south Forsyth County. The Cumming, Ga.-based brewery will open an 8,000-square-foot brewpub and beer garden in the center of Halcyon’s restaurant village. The brewpub will have a seasonal food menu and 16 Cherry Street beers on tap, as well as a new Halcyon-specific brew. The beer garden will feature communal tables, bar space and a stage for special events. Nick Tanner, Cherry Street owner and brewmaster, will own and operate the new brewpub alongside his sister, Alisa Tanner. Halcyon is slated to open in 2018. Upon completion, the development will feature more than 480,000 square feet of office and retail space, a movie theater, two hotels and 690 residential and seniors housing units.

October 19, 2017

Mixed-Use Texas

Hoque Global, KDC to Develop 20-Acre Mixed-Use Project in Downtown Dallas

by Taylor Williams October 19, 2017

DALLAS — Hoque Global and KDC will develop Dallas Smart District, a 20-acre mixed-use property that will be located adjacent to Dallas City Hall in downtown Dallas. Phase I of the project will deliver between 600,000 and 1 million square feet of Class A office space, a location for an undetermined grocery tenant, a food hall, boutique hotel with residences and parks and green spaces with bike paths and recreational areas. Hoque Global is directing the retail, residential and hospitality elements of the project, and KDC is developing the office component. Pelli Parke Pelli Architects is designing the property. Work on the project is expected to begin in late 2018.

October 19, 2017

Midwest Minnesota Mixed-Use Top Stories

Kraus-Anderson to Break Ground on $100M Mixed-Use Project in Downtown Minneapolis

by John Nelson October 19, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co., a general contractor based in Minneapolis, plans to break ground this coming Monday, Oct. 23 on Ironclad, a $100 million mixed-use development in downtown Minneapolis. The site, currently a parking lot, is located within the historic Mills District near U.S. Bank Stadium, the newly opened home of the Minnesota Vikings NFL team. Designed by St. Paul-based Collage Architects, Ironclad will include a 14-story, 172-unit apartment building and an eight-story, 139-room, Moxy-branded hotel. The plans also call for a 3,300-square-foot restaurant; 10,000 square feet of retail space on the first floor of the hotel; and a four-story, 65,318-square-foot underground parking garage with room for 411 cars. The apartments will feature private outdoor terraces, a sky lounge and a large amenity deck with green space. The property will also feature a swimming pool, hot tubs, fire pits, cloister garden and insider amenities including electric vehicle charging stations, bike repair facility and rider lounge, sauna, theater and media center, pool table and gaming and an on-site property manager. Ironclad is owned by 811 Washington LLC, a wholly owned entity controlled by the Kharbanda family, which owns and operates multiple properties in downtown Minneapolis. The developer of the hotel …

October 19, 2017

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