Mixed-Use

Air Realty, H.J. Russell to Open Phase I of $80M Mixed-Use Project Near College Park MARTA Station

by John Nelson December 6, 2016

COLLEGE PARK, GA. — Air Realty LLC and H.J. Russell & Co. are set to open Phase I of ThePad On Harvard, an $80 million mixed-use development within 400 feet from the College Park MARTA Station. Phase I will feature 109 apartment residences and will open at the end of the month. ThePad On Harvard’s multifamily component is the first new apartment development in College Park in 40 years. Situated at 1777 Harvard Ave. two blocks from downtown College Park, the transit-oriented development will be built in four phases. Upon completion, the project will feature multifamily residences, retail space and an Aloft hotel. Phase II is the Aloft hotel and will break ground in the first quarter of 2017. Rod Mullice, co-founder and managing partner of Air Realty, will be honored by the College Park Business and Industrial Development Authority as its New Business Developer of the Year this Thursday at College Park City Hall.

December 6, 2016

Michigan Midwest Mixed-Use

Platform LLC to Redevelop Former Wayne State Criminal Justice Building in Detroit

by Kristin Harlow December 6, 2016

DETROIT — Platform LLC, the development arm of Peter Cummings, Mike Hammond and Dietrich Knoer, has purchased the former Wayne State University Criminal Justice Building for $2 million. When complete, the redevelopment of the 147,500-square-foot building will include approximately 69 apartment units, 19,000 square feet of retail space and a permanent Wayne State University art gallery. The building, located at 6001 Cass Ave., was originally built in 1920 and is currently vacant. The deal also includes a long-term ground lease of the adjacent property at 445 York Street, where an additional 64 apartment units and 48 condo units are planned. Both properties are located in the north end of Wayne State’s main campus.

December 6, 2016

California Mixed-Use Western

Planning Commission Approves Mixed-Use Development in Morgan Hill

by Nellie Day December 5, 2016

MORGAN HILL, CALIF. — The city planning commission of Morgan Hill has approved plans for a three-story, mixed-use building located at 17395 Monterey Road in downtown Morgan Hill. Designed by KTGY Architecture + Planning, the 10,000-square-foot building will be used as a dining destination owned and operated by local restauranteur Dan McCranie. Construction is slated to begin in early 2017, with completion scheduled by the end of the year.

December 5, 2016

Mixed-Use North Carolina Southeast

East West Partners to Develop Mixed-Use Crabtree Terrace Project in Raleigh

by John Nelson December 2, 2016

RALEIGH, N.C. — East West Partners plans to develop Crabtree Terrace, a proposed mixed-use development located at 4509 Creedmoor Road in Raleigh. The developer has tapped CBRE | Raleigh to lease both the office and retail components of the project. Situated adjacent to Crabtree Valley Mall and a future hotel and conference center, Crabtree Terrace will be a six-story building with 38,000 square feet of ground-floor retail space, 140,000 square feet of Class A office space, a six-story parking deck and surface parking. Charlie Coyne and Reagan Crabtree of CBRE | Raleigh’s retail services group will be handling the retail leasing efforts for the project, and Brian Carr and John Brewer of CBRE | Raleigh’s investor leasing group will be handling the office leasing efforts. East West plans to deliver Crabtree Terrace in the fourth quarter of 2018.

December 2, 2016

Illinois Midwest Mixed-Use

Thor Equities Acquires Two Chicago Properties for $36.1M

by Kristin Harlow December 2, 2016

CHICAGO — Thor Equities has acquired two properties in Chicago’s Fulton Market district for $36.1 million. The properties, 816-820 West Fulton Market and 216-226 North Peoria Street, together total more than 106,000 square feet. Thor plans to convert the historical buildings into prime retail and office properties. Once dominated by cold storage facilities and wholesale meat companies, Fulton Market is filled with restaurants, boutique hotels, residential buildings, art galleries and architectural and creative firms, along with major companies such as Google and Uber. The vacant warehouses on Peoria Street will be combined and expanded to accommodate a five-story mixed-use structure. The West Fulton Market properties will be renovated and repositioned.

December 2, 2016

Midwest Minnesota Mixed-Use

Marcus & Millichap Arranges $18M Sale of 42,104 SF Mixed-Use Building in Minneapolis

by Kristin Harlow December 2, 2016

MINNEAPOLIS — Marcus & Millichap has arranged the sale of The Pinehurst Building in Minneapolis for $18 million. The 42,104-square-foot mixed-use building is located at 4999 France Ave. South. Matthew Hazelton, Cory Villaume, Sean Doyle and Adam “AJ” Prins of Marcus & Millichap marketed the property on behalf of the undisclosed seller. Sean Doyle, Cory Villaume, Matthew Hazelton, Adam “AJ” Prins, Josh Talberg, Mox Gunderson and Dan Linnell of Marcus & Millichap represented the buyer, a limited liability company.

December 2, 2016

Mixed-Use Multifamily New York Northeast Office Retail

JV Breaks Ground for 28-Story Mixed-Use Development in New Rochelle, New York

by Amy Works December 1, 2016

NEW ROCHELLE, N.Y. — RXR Realty, Brause Realty and ABS Partners have broken ground on 587 Main Street, a mixed-use development located in downtown New Rochelle. The 28-story building will comprise 280 rental units, 28 of which will be affordable; 10,000 square feet of arts and cultural space; 17,000 square feet of commercial space; and 234 on-site parking spaces. Leasing is expected to begin in the fourth quarter of 2018.

December 1, 2016

Florida Mixed-Use Southeast

Cushman & Wakefield Arranges $11.4M Sale of Mixed-Use Center in Miami

by John Nelson December 1, 2016

MIAMI — Cushman & Wakefield has arranged the $11.4 million sale of Plaza 8, a 53,428-square-foot mixed-use center located in Miami. The two-story property consists of ground-floor retail with a mix of office and retail space on the second floor. Miguel Alcivar, Dominic Montazemi and Michael Mandel of Cushman & Wakefield and Bill Strauss of WCL Properties represented the seller, AD4 Group, in the transaction. The buyer was undisclosed.

December 1, 2016

Massachusetts Mixed-Use Multifamily Northeast Office Restaurant Retail Seniors Housing

Capital Group Properties Secures Anchor for Mixed-Use Development in Maynard, Massachusetts

by Amy Works November 29, 2016

MAYNARD, MASS. — Colliers International, on behalf of developer Capital Group Properties, has secured a grocery anchor for the planned 293,500-square-foot Maynard Crossing property in Maynard. Market 32 by Price Chopper has signed a lease for 68,000 square feet of space at the mixed-use project, which is slated to break ground in the second quarter of 2017 with completion scheduled for summer 2018. Upon completion, the project will feature two full-service and two fast-casual restaurants, a 20,000-square-foot health club, a community bank, hardware store, apparel stores, and medical care center, as well as 180 residential rental units and a 143-unit independent senior living facility. Colliers International Boston is the leasing team for the development.

November 29, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Arranges $11.5M Land Sale in Brooklyn

by Amy Works November 29, 2016

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a land site located at 88 Withers St. in Brooklyn’s Williamsburg neighborhood. BK Developers and RYBAK Development acquired the site from Withers 88 Group LLC for $11.5 million, or $340 per buildable square foot. The corner site was purchased with approved plans for a 39,000-square-foot building comprising 33 residential units and a ground-floor retail unit. The residential portion will include three three-bedroom units, 14 two-bedroom apartments, eight one-bedroom units and eight studio apartments. Brendan Maddigan of Cushman & Wakefield represented the seller in the transaction.

November 29, 2016

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