Mixed-Use

University Place Underway in Jersey City

by Jaime Lackey September 14, 2016

JERSEY CITY, N.J. — The Hampshire Companies and joint venture partner Claremont Companies, along with project investment advisor Circle Squared Alternative Investments, have broken ground on the first phase of University Place along the west campus of New Jersey City University. The first phase will include 163 market-rate units and approximately 10,000 square feet of retail on West Side Avenue, along with 177 structured parking spaces, two bike terminals and more than 25,000 square feet of indoor/outdoor amenity space. The residential units will consist of 27 studio apartments, 112 one-bedroom, and 24 two-bedroom units ranging from 550 square feet to 1,300 square feet. Occupancy for the first project is slated for 2017. The remaining phases of development for University Place are expected to be completed and available for occupancy in 2018. The master redevelopment plan calls for eight buildings including a 100,000-square-foot performing arts center/academic building.

September 14, 2016

California Mixed-Use Multifamily Retail Western

Marcus & Millichap Arranges Sale of 5,104-Square-Foot Mixed-Use Building in LA for $1.1M

by Nellie Day September 13, 2016

LOS ANGELES — Marcus & Millichap has arranged the $1.1 million sale of a 5,104-square-foot mixed-use retail and multifamily property at 4650 W. Adams Blvd. in Los Angeles. Floyd Shaheen and Daniel Hirth of Marcus & Millichap represented the seller, an undisclosed partnership, and secured and represented the buyer, an undisclosed individual trust, in the transaction.

September 13, 2016

Hospitality Mixed-Use Multifamily Texas

Gables Residential to Develop Gables Republic Square Mixed-Use Project in Austin

by Haisten Willis September 13, 2016

AUSTIN, TEXAS — Gables Residential plans to develop Gables Republic Square, a 24-story, Class A mixed-use residential and hotel project in downtown Austin. HFF arranged joint venture equity for the project through The Carlyle Group on behalf of Gables Residential. Due for completion in early 2019, Gables Republic Square will be located at 400 Lavaca St. and will include 221 residential units, along with a separately owned, 159-key Hotel ZaZa. The residential component will feature a ground-floor lobby with residential units located on floors 13 through 24. The Hotel ZaZa lobby, valet, bar and spa will occupy the ground floor, while the hotel ballroom, restaurant and swimming pool will be located on floor seven and guest rooms on floors eight through 12. Floors two through six of the property will be reserved for residential parking, and two levels of subgrade parking will be reserved for the hotel. The residential units will feature granite or quartz countertops, stainless steel appliances, in-unit washers and dryers, wood or wood laminate flooring and balconies. Residents will have access to a rooftop amenity area featuring views of the city, as well as a swimming pool, hot tub, outdoor kitchen, fireplace, clubroom, library and fitness center.

September 13, 2016

Mixed-Use Multifamily New York Northeast Retail

Marcus & Millichap Brokers $7.2M Sale of Mixed-Use Property in Manhattan

by Amy Works September 13, 2016

NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 239 Elizabeth St. in Manhattan’s Nolita neighborhood. An estate sold the property to a private investor for $7.2 million, or more than $900 per square foot. The six-story property comprises a studio unit, five two-bedroom apartments, five one-bedroom apartments and one retail unit. Peter Von Der Ahe, Joe Koicim and Joshua Grossman of Marcus & Millichap represented the seller and buyer in the transaction.

September 13, 2016

Florida Mixed-Use Southeast

GoPro, Other Tenants Lease Space in Mixed-Use Building in Miami’s Wynwood District

by John Nelson September 12, 2016

MIAMI — CBRE has arranged multiple leases at a retail, showroom and office development located at 48 N.W. 25th St. in Miami’s Wynwood district. The lease transactions include GoPro leasing 4,469 square feet, Scripps Network leasing 4,640 square feet and Cooltech Inc. leasing 3,713 square feet. Existing tenants at the recently renovated building include Revlon, Shorecrest Construction and Bieffe Designs. Each suite in the Wynwood property features 22-foot ceilings, updated restrooms, new HVAC and polished cement floors. Zach Winkler and Kevin Gonzalez of CBRE represented the landlord, Forte Capital Management, in each transaction. Will Morrison of JLL represented GoPro, and Dave Steinfeld of JLL represented Scripps Network.

September 12, 2016

Georgia Mixed-Use Southeast

Federal Capital, Westbridge Break Ground on Stockyards Adaptive Reuse Project in Atlanta

by John Nelson September 9, 2016

ATLANTA — Federal Capital Partners (FCP) and Westbridge Partners have broken ground on Stockyards, an adaptive renovation of three historic warehouses in Atlanta’s West Midtown district. Expected to open in the first quarter of 2017, Stockyards is more than 65 percent pre-leased to office and retail tenants including The Painted Duck, a sister entertainment concept to The Painted Pin; Fitzgerald & Co., an Atlanta-based advertising agency; Momentum Worldwide, an Atlanta-based sports marketing firm; Weber Shandwick, a global communications firm; Mannington Mills Inc., a flooring and carpeting showroom; and a new restaurant concept from Charleston-based The Indigo Road. Stockyards will occupy three acres on the corner of 10th Street and Brady Avenue. Designed by architectural firm ai3, the development will total 95,000 square feet of Class A office space, 13,000 square feet of street-level restaurant space, 25,000 square feet of retail space on the lower level and a 400-space parking deck. Gay Construction is Stockyards’ general contractor, Cushman & Wakefield is handling the office leasing and SunTrust Bank, represented internally by Mark Hancock, is the project’s senior lender.

September 9, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Brookhill Properties Expands Portfolio with Acquisition of Mixed-Use Property in Manhattan

by Amy Works September 2, 2016

NEW YORK CITY — Brookhill Properties has purchased a five-story residential and commercial building located at 332 E. 9th St. in Manhattan East Village. Tabak Family Realty Co. sold the property for an undisclosed price. Built in 1920, the 9,546-square-foot property features 20 residential units and two commercial spaces. Paradigm Commercial Real Estate assisted Brookhill in the transaction.

September 2, 2016

Loans Mixed-Use Southeast Virginia

New York Life Originates $57M Loan for Town Center Project in Virginia Beach

by John Nelson September 1, 2016

VIRGINIA BEACH, VA. — New York Life Real Estate Investors has provided a $57 million loan for Encore Apartments and the 4525 Main Street office building located within the Town Center development in Virginia Beach. The mixed-use property includes 286 apartments units, 212,000 square feet of office space and 26,000 square feet of ground-level retail space. Geoff McVeigh of Berkadia arranged the five-year, fixed-rate loan on behalf of the borrower, Armada Hoffler Properties, a publicly traded REIT and the developer of Town Center.

September 1, 2016

Industrial Iowa Market Reports Midwest Midwest Market Reports Mixed-Use Multifamily Office Retail Uncategorized

Sioux City Experiences ‘Crane Craze’ Across Property Types

by Christina Cannon September 1, 2016

The skies are dotted with cranes — not the type you would find on route west to the Sandhills of Nebraska, but the type synonymous with a robust economy. It is safe to say there have never been so many cranes at work in the history of Sioux City. Several large industrial projects are resulting in further development of retail and multifamily space that has been in demand for some time in Sioux City. Retail, entertainment wave Helping to draw residents and visitors alike out into the streets of Sioux City is the $130 million Hard Rock Hotel & Casino. The Hard Rock replaced the floating Argosy riverboat casino in a first-in-the-state competitive bidding war for a land-based casino. Due to the popularity of the development since it opened in August 2014, the Hard Rock already has plans to add an $8 million casino expansion by the end of the year. Hard Rock has played a vital role in making Sioux City a regional, cultural and entertainment destination. Dallas-based Anthony Properties is planning to deliver 350,000 square feet of retail space by the summer of 2018. The 64-acre site, located at the intersection of Sunnybrook Drive and Sergeant Road, is …

September 1, 2016

Loans Mixed-Use New York Northeast Office Retail

Thorofare Capital Secures $15.3M Loan for Mixed-Use Property in Brooklyn

by Amy Works August 31, 2016

NEW YORK CITY — Thorofare Capital has secured a $15.3 million fixed-rate bridge loan for a mixed-use property in Brooklyn’s Gowanus section. The property features 57,050 square feet of mixed-use space. Kevin Miller and Felix Gutnikov of Thorofare Capital arranged the recapitalization and tenant improvement/leasing commissions facility for the undisclosed borrower.

August 31, 2016

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