Mixed-Use

National Law Firm, New Hilton Hotel to Anchor $2B Wharf Waterfront Development in D.C.

by John Nelson November 17, 2016

WASHINGTON, D.C. — Hoffman-Madison Waterfront (HMW), the developer of The Wharf, a $2 billion, mile-long neighborhood under construction along Washington, D.C.’s Southwest waterfront, has announced that the development will feature a new Hilton hotel and a new anchor office tenant, global law firm Fish & Richardson. HMW is a partnership between master developers PN Hoffman and Madison Marquette. Situated adjacent to 7th Street Park, Hilton Worldwide will open a 175-room Canopy by Hilton, the first North American hotel for the international brand. The Canopy will join a 238-room Hyatt House at The Wharf. When complete, The Wharf will feature more than 3 million square feet of new residential, office, hotel, retail, marina, and public uses, including waterfront parks, promenades, piers and docks. The development will encompass 24 acres of land and 50 acres of water on the Washington Channel. Phase I is slated to open in October 2017, and Phase II is expected to open between 2020 and 2021. “The Wharf is a truly ideal neighborhood for our Canopy by Hilton brand and we are thrilled to be a part of this amazing project,” says Gary Steffen, global head of Canopy by Hilton. Fish & Richardson, which specializes in global …

November 17, 2016

Georgia Hospitality Mixed-Use Southeast

Majestic, Carter to Develop $350M Mixed-Use Project at Hartsfield-Jackson Atlanta International Airport

by John Nelson November 16, 2016

ATLANTA — Master developers Majestic Realty Co. and Carter have announced plans for a $350 million mixed-use project at Hartsfield-Jackson Atlanta International Airport. Phase I of the project will include an 11-story, 440-room hotel that features a restaurant in the lobby, 80,000 square feet of conference/meeting space, a skybar on the 10th floor that overlooks the airport’s runway, 750 parking spaces and an additional 60,000 square feet of Class A office space. Visitors and hotel guests will have direct access to MARTA and the airport’s SkyTrain service. Majestic Realty and Carter are currently in discussions with InterContinental Hotels Group to serve as the operator of the four-star facility, which will be situated directly west of the domestic terminal. The hotel will be connected to the domestic terminal via a new plaza. Phase II of the project will feature two additional hotels built on 13 acres just west of Phase I. The design stage is expected to begin in 2017 with construction slated to start by early 2018. In 2015, Majestic Realty and Carter signed a 50-year lease for the 26.5-acre site with the city of Atlanta. The master development is part of the airport’s $6 billion ATLNext Initiative.

November 16, 2016

Mixed-Use Office Retail Texas

Marcus & Millichap Facilitates Sale of 52,305 SF Land Parcel in Houston

by Amy Works November 15, 2016

HOUSTON — Marcus & Millichap has arranged the sale of a land parcel located at 2401 N. Shepherd Drive in Houston. Braun Enterprises acquired the 52,305-square-foot site for an undisclosed price. The property is located across from HEB’s potential new location in the Houston Heights area. Justin Miller and Derek Hargrove of Marcus & Millichap represented the seller, a local family partnership, while Miller, Hargrove and David Hansen, also of Marcus & Millichap, represented the buyer in the transaction.

November 15, 2016

Florida Loans Mixed-Use Southeast

Arcis Capital Partners Provides $70M Facility for Celebration Pointe in Gainesville

by John Nelson November 15, 2016

GAINESVILLE, FLA. — Arcis Capital Partners LLC has provided a $70 million revolving facility for the development of Celebration Pointe, a more than 1 million-square-foot mixed-use project in Gainesville. Arcis Capital funded the facility on behalf of the borrower, Gainesville-based Celebration Pointe Holdings LLC, the sponsor and owner of Celebration Pointe. The 125-acre development is located along I-75 at Archer Road and features a newly built multi-modal bridge over the interstate. The developer, Celebration Pointe Development Partners, opened a new Bass Pro Shops at Celebration Pointe on Wednesday, Nov. 9. Anchoring the next phase, which is scheduled to open in November 2017, is a Regal Cinemas theater, a second Class A office building and over 350 luxury apartments. Additionally, a 137-room Hotel Indigo and the final phase of the main street retail are slated for a 2018 opening.

November 15, 2016

Mixed-Use Multifamily South Carolina Southeast

Beach Co. Breaks Ground on Mixed-Use Apartment Development in Downtown Columbia

by John Nelson November 15, 2016

COLUMBIA, S.C. — The Beach Co., a Charleston-based real estate developer, has broken ground on the final phase of the mixed-use CanalSide project in downtown Columbia. Situated in The Vista district, the new property is a 339-unit multifamily development known as Sola Station. The community will include 29,000 square feet of commercial space, as well as a saltwater pool, fitness center, yoga studio, dog park, spa, bike shop, clubroom and outdoor kitchens. The consultant team at Sola Station includes JHP Architecture, Creative Builders Inc., Alliance Consulting Engineers Inc., Hodgson & Douglas LLC and Moore Design Group. US Bank NA provided construction financing.

November 15, 2016

Hospitality Massachusetts Mixed-Use Multifamily Northeast Retail

Related Beal Tops Off Parcel 1B in Downtown Boston

by Amy Works November 14, 2016

BOSTON — Related Beal has topped off Parcel 1B, a residential, retail and hospitality development in downtown Boston. Designed by CBT Architects, the 484,000-square-foot property will feature 239 affordable and workforce apartment units, 10,000 square feet of street-level retail space, 220 parking spaces and a Courtyard by Marriott. Operated by Turnberry Associates, the 220-room hotel will feature 2,500 square feet of meeting space. Situated within Boston’s Bulfinch Triangle, the property is located in close proximity to public transportation.

November 14, 2016

Midwest Minnesota Mixed-Use

CBRE Arranges $315M Sale of 1.6 MSF Mixed-Use Complex in Minneapolis

by Kristin Harlow November 14, 2016

MINNEAPOLIS — CBRE has arranged the sale of 33 South Sixth-City Center, a 51-story office tower and mixed-use complex in downtown Minneapolis. The sales price was not disclosed, but Minneapolis Star Tribune reports the price at $315 million. Located at 33 South Sixth St. alongside the Nicollet Mall, the 1.6 million-square-foot complex is currently 95 percent occupied. Target Corp. occupies 73 percent of the office tower on a long-term lease. Tom Holtz, Ryan Watts, Judd Welliver and Sonja Dusil of CBRE’s Minneapolis office represented the seller, Shorenstein Properties LLC. HNA Holding Group Co., a subsidiary of conglomerate HNA Group, was the buyer.

November 14, 2016

Michigan Midwest Mixed-Use

Friedman Arranges Sale of 33,560 SF Mixed-Use Building in Royal Oak, Michigan

by Kristin Harlow November 11, 2016

ROYAL OAK, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 33,560-square-foot mixed-use building located at 1017-1021 S. Washington Ave. in downtown Royal Oak. The sales price was not disclosed. The property combines condo living, office, medical and retail. The seller, Washington Street Holdings LLC, sold the building to Royal Oak Ventures SW1017 LLC. Peter Jankowski of Friedman represented the seller in the transaction.

November 11, 2016

Illinois Midwest Mixed-Use

High Street Residential Unveils Plans for Mixed-Use Building in Downers Grove, Illinois

by Kristin Harlow November 10, 2016

DOWNERS GROVE, ILL. — High Street Residential has acquired a nearly one-acre site for the construction of Maple & Main, a six-story mixed-use building in Downers Grove, a western suburb of Chicago. The project will include 115 apartment units and approximately 4,000 square feet of ground-floor retail and restaurant space. Construction is expected to begin in the first quarter of 2017. The building is being designed with eco-friendly aspects, such as minimized exposure to airborne pollutants. ESG Architects will serve as the project architect and Carlson Construction is the general contractor. David Paino of High Street Residential will oversee the development of the project. Jacob Dell of CBRE Oak Brook will handle the retail leasing.

November 10, 2016

Midwest Mixed-Use Top Stories Wisconsin

Cobalt Partners Breaks Ground on $160M Mixed-Use Development in Metro Milwaukee

by John Nelson November 10, 2016

GREENFIELD, WIS. — Cobalt Partners LLC, a commercial real estate development firm based in Milwaukee, has begun construction on 84South, a 48-acre, $160 million mixed-use development in Greenfield, approximately 10 miles southwest of Milwaukee. Designed by Milwaukee-based Rinka Chung Architecture, 84South will feature 375,000 square feet of retail and restaurant space, a full-service health club, office space and 360 apartment residences. The development is situated along I-894 at the interchange of 84th Street and Forest Home Avenue, less than a mile from Southridge Mall, the largest enclosed regional mall in the state. Cobalt Partners has selected Mid-America Real Estate-Wisconsin as leasing agents for 84South, and the firm has already signed a slate of retailers to open in Phase I, which is scheduled for a summer 2017 completion. “84South is going to expand the Southridge regional trade area and provide retailers an opportunity to locate stores within a submarket that has proven challenging to land within,” says Scott Satula, vice president of Mid-America. “We’re excited to be a part of the 84South development team and are pleased to bring quality shopping and dining options to Greenfield and the neighboring communities.” The retailers opening in Phase I of 84South include Fresh Thyme …

November 10, 2016

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