BURLINGTON AND SHELBURNE, VT. — Nedde Real Estate has arranged sale and lease transactions in Vermont. In the first transaction, Champlain Commercial Properties Investment Group completed the disposition of a retail and multifamily property located at 152 Battery St. in Burlington. Red Brick Realty II acquired the property, which features a deli on the first floor and an apartment unit on the second, for an undisclosed price. Cindi Burns of Century 21 Jack Associates represented the buyer, while Fernando Cresta of Nedde represented the seller in the deal. In the second transaction, KPC LLC leased 1,800 square feet of retail space, located at 3198 Shelburne Road in Shelburne, to Natural Mattress Co. Cresta represented the landlord, while Tony Shaw of KW Vermont represented the tenant.
FAYETTEVILLE, GA. — Hay Creek Hotels, an Exeter, N.H.-based developer and manager of boutique hotels, plans to build its first hotel in the metro Atlanta area in Pinewood Forrest, a 234-acre master-planned development situated adjacent to Pinewood Atlanta Studios in Fayetteville. Scheduled to open in 2018, the 95-room hotel will feature meeting and function space, an upscale restaurant, bar, spa, pool and special suites for celebrity guests of Pinewood Atlanta Studios. HCH Pinewood Forrest LLC will develop the hotel, and Hay Creek will operate the property upon completion. Led by Chick-fil-A CEO Dan Cathy, the development team behind Pinewood Forrest has also selected the metro Atlanta real estate brokerage firm Ansley Atlanta to provide residential sales and marketing for the development’s single-family homes. The first home sites will be available for reservation in the coming months.
ORLANDO, FLA. — Creative Village Development LLC (CVD) has selected JLL to oversee the marketing of select sites available for sale at Creative Village, a $1 billion, 68-acre master-planned development in downtown Orlando. The Creative Village project is a public-private partnership between the city of Orlando and CVD, the project’s master developer. CVD is a joint venture between a local entity led by Ustler Development Inc. and Bank of America Community Development Corp. (BACDC). JLL will market select parcels of Creative Village in multiple phases, with Phase I comprising three parcels. The three parcels are programmed for at least 250 multifamily residences, an office building of at least 120,000 square feet and commercial, multifamily or hotel space spanning at least several hundred thousand square feet. Aaron Gray and Bret Felberg of JLL are leading the marketing efforts. Creative Village will transform the former Amway Arena into a mixed-use, transit-oriented development comprising University of Central Florida’s downtown campus, which is set to open in August 2019; office space; a $90 million, 600-bed student housing community developed by Ustler and KUD International LLC; a $62.5 million, 250-unit multifamily community developed by Ustler and a joint venture partner; and a 116-unit, $29 million …
CHICAGO — Marcus & Millichap has brokered the sale of Southport Corridor Mixed-Use, a mixed-use property located at 1362 W. Belmont Ave. in Chicago. An individual/personal trust sold the 5,166-square-foot property to a limited liability company for an undisclosed price. The two-story building was vacant at the time of sale. Brewster Hague, Sean Sharko and Austin Weisenback of Marcus & Millichap represented the seller and buyer in the deal.
HONOLULU — The Honolulu City Council has approved Salem Partners’ plan to develop a 36-story mixed-use tower in Honolulu. The $700 million project will be situated across from the Convention Center. Named Mana`olana Place, this will be the first project in the city’s newly adopted Ala Moana transit-oriented district. The tower will feature 505,000 square feet that will house a 125-room ultra-luxury hotel, 109 condominiums, about 12,500 square feet of retail and dining, a large public plaza and gardens. Construction is expected to start in 2017 for completion in 2020. Mana`olana Place will create a pedestrian-friendly environment with street frontages leading to the public plaza at the corner of Kapiolani Boulevard and Atkinson Drive.
HUNTINGTON BEACH, CALIF. — DJM Capital Partners has completed the development of Phase I of Pacific City, a mixed-use development located in Huntington Beach. Phase I features 191,000 square feet of retail, 100,000 square feet of outdoor community space and 400,000 square feet of on-grade and subterranean parking. An eight-story, four-star oceanfront hotel named Pasea also opened at the property this year. Future components of the development will include a 516-unit residential community to be named The Residences at Pacific City. C.W. Driver Cos. built the first phase of the project, which is currently 80 percent leased to tenants including Equinox Fitness, LOT 579, Ola Mexican Kitchen, Tank Farm & Co., Barnabas Clothing, H&M, Free People, Tommy Bahama and Sephora. Jerde Partnership, SMS Architects and Lifescapes International designed the development.
ST. LOUIS — Cullinan Properties hosted a grand opening celebration on Thursday, Oct. 6, for Lofts@Euclid, a mixed-use building located at the corner of Euclid and Delmar in St. Louis’ Central West End. The 150,000-square-foot project involved the complete renovation of the historic Langan and Taylor Co. building, which was originally developed by Widman & Walsh. The redeveloped building by Cullinan Properties features 87 loft apartment units, ground-level retail and office space, a fitness center, rooftop deck and clubhouse area. Constructed in 1910, the building is one of the largest commercial buildings remaining in the Central West End historic district. Residents began occupying the building in June, and the building is approximately 70 percent leased.
ATLANTA — The Georgia Tech Foundation has finalized its purchase of The Biltmore, a 286,931-square-foot mixed-use property located on West Peachtree Street in Midtown Atlanta. The property features Class A loft office space, three ground-floor restaurants and two restored ballrooms for events. According to the Atlanta Business Chronicle, the asset sold for $64 million. The Biltmore is situated across West Peachtree Street from Technology Square and will serve as an extension of Georgia Tech with a focus on growing startups and attracting corporations. Jay O’Meara, Will Yowell and Justin Parsonnet of CBRE’s Atlanta office represented the seller, Atlanta-based Novare Group.
GRESHAM, ORE. — DDR Corp. has acquired Gresham Town Center, a 296,186-square-foot mixed-use center located in the Portland suburb of Gresham, for an undisclosed price. The retail portion of the property is home to tenants including Best Buy, Bed Bath & Beyond, Craft Warehouse, Cost Plus World Market, Old Navy, Ulta Beauty, Panera Bread, Starbucks Coffee, Old Navy, Men’s Wearhouse, Baja Fresh Mexican Grill and Charming Charlie. The center also contains 12,289 square feet of office space. A 45,000-square-foot, single-tenant LA Fitness located north of the center was also included in the sale. Nick Kassab of HFF represented the seller in the transaction, Westlake Realty Group Inc.
BAYONNE, N.J. — Cushman & Wakefield has arranged three sales of mixed-use properties in Bayonne. In the first transaction, an undisclosed buyer purchased a three-building mixed-use property located at 462 Broadway, 464 Broadway and 15-17 Liberty Court for $1.1 million, or $90.38 per square foot. The 13,000-square-foot portfolio features four residential units and four commercial units. Fahri Ozturk and Lev Kimyagarov of Cushman & Wakefield arranged the transaction. In the second deal, Ozturk brokered the $1.6 million sale of a 16,500-square-foot mixed-use building located at 813-819 Broadway. The building features 9,000 square feet of ground-level retail and medical office space and 7,500 square feet of second-floor office space. Current tenants are Children’s Specialized Hospital and La Guardiola Pizzeria. In the third transaction, an undisclosed buyer acquired a 17,700-square-foot mixed-use asset located at 544-556 Broadway for $1.3 million. Vacant at the time of sale, the building features a ground-floor retail component and second-floor office space. Ozturk arranged the transaction. The names of the sellers were not released.