Mixed-Use

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

Industrial Mixed-Use New Jersey Northeast

NAI Hanson Facilitates Two Sales of Industrial, Mixed-Use Properties in Westwood, New Jersey

by Amy Works November 28, 2016

WESTWOOD, N.J. — NAI James E. Hanson has arranged the sales of an industrial property and a mixed-use building in Westwood in two separate transactions. John Schilp and Andrew Somple of NAI Hanson represented the buyers and sellers in both deals. In the first deal, DR Music acquired a 16,400-square-foot industrial building located at 40 Carver Ave. in Westwood Industrial Park. 40 Carver LLC sold the building, which features 22-foot ceiling heights and two loading docks, for an undisclosed price. In the second deal, an investor acquired a 2,700-square-foot mixed-use property, which was in foreclosure, for an undisclosed price. A New Jersey banking institution sold the building, located at 57 Jefferson Ave.

November 28, 2016

Mixed-Use Multifamily Office Retail Texas

Thor Equities Tops Off Office Tower at Kirby Collection in Houston

by Amy Works November 23, 2016

HOUSTON — Thor Equities has topped off the 13-story office tower at Kirby Collection, a 1 million-square-foot mixed-use development located in Houston’s Upper Kirby district. The project’s 210,000-square-foot, Class A office building will feature two levels of retail space totaling 65,000 square feet. The development will also feature a 25-story, 385,000-square-foot residential tower with 199 apartments, including seven two-story townhomes and seven two-story loft spaces featuring private yards. E.E. Reed Construction is the general contractor for Kirby Collection, which is slated for completion in 2017. Richard Keating Architecture is the design architect, Dianna Wong Architecture + Design is the interior designer and Houston-based Kirksey is the architect of record. Walter P Moore is the structural engineer, and Houston-based WYLIE is the MEP engineer.

November 23, 2016

Michigan Midwest Mixed-Use

Fast Break: Pistons to Leave The Palace of Auburn Hills for Detroit in Fall 2017

by Kristin Harlow November 23, 2016

DETROIT — The Detroit Pistons announced Tuesday agreements under which the team will move to downtown Detroit and begin playing at the new Little Caesars Arena starting next season. The move will include construction of a new state-of-the-art Pistons practice facility and corporate headquarters. With the Pistons and Red Wings playing under one roof just blocks from the Tigers’ Comerica Park and the Lions’ Ford Field, Detroit will be the only North American city to have each of its four major professional sports leagues housed within four blocks in its urban core. The Pistons are currently playing their 29th and final season at The Palace of Auburn Hills. The redevelopment of that area is yet to be determined. Little Caesars Arena is on track for a September 2017 opening. A 50-block, mixed-use development, The District Detroit, will surround the arena. Detroit Pistons Owner Tom Gores, Christopher Ilitch of Ilitch Holdings Inc. and Detroit Mayor Mike Duggan made the announcement in a press conference Tuesday.

November 23, 2016

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