Mixed-Use

Edens to Build $200M Mixed-Use Development in Boston’s South Bay

by Nellie Day May 16, 2016

BOSTON — The Boston Redevelopment Authority Board has given approval for Edens to construct a 700,000-square-foot mixed-use development in the South Bay submarket of Boston. The 10-acre, $200 million development will sit adjacent to Edens’ South Bay Center in Boston’s Dorchester neighborhood. This approval was the last hurdle to starting the project, and Edens plans to break ground in June. The proposal calls for 113,000 square feet of restaurants and shops, a 12-screen luxury AMC Theatre with IMAX, a flagship Wahlburger’s, a 130-room hotel and two parking garages. Edens will also partner with Mill Creek Residential to develop 475 multifamily units at the project. The multifamily component will contain a mix of studio to three-bedroom apartments. The mixed-use project will be built on a site that currently contains a vacant industrial property and concrete plant. During construction, Edens also plans to upgrade the 427,289-square-foot South Bay Center, which is home to tenants such as OfficeMax, Marshalls, Old Navy, Target, The Home Depot, Bed Bath & Beyond and TJ Maxx. Columbia, S.C.-based Edens develops, owns and operates community shopping centers in primary U.S. markets. Its institutional-quality portfolio contains more than 130 retail centers. Mill Creek Residential Trust LLC is a national …

May 16, 2016

Georgia Mixed-Use Southeast

Pollack Shores to Redevelop Office Park in Metro Atlanta to Include Multifamily, Retail Uses

by John Nelson May 13, 2016

SANDY SPRINGS, GA. — Pollack Shores Real Estate Group plans to develop 425 apartment units and 10,000 square feet of retail and restaurant space neighboring the Palisades office park in Sandy Springs. Pollack Shores purchased a site adjacent to the office park at 5901 Peachtree-Dunwoody Road for an undisclosed amount. Upon completion, the one-, two- and three-bedroom units will feature plank flooring, kitchen islands, granite and quartz countertops, under mount sinks and pendant lighting. The redevelopment is expected to be complete by winter 2018. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the residential portion of the property. Pollack Shores is also absorbing most of the costs for infrastructure improvements in the area, including the addition of an east-west connector between Peachtree-Dunwoody Road and Perimeter Center Parkway that will allow traffic to directly access the new 2.2 million-square-foot State Farm Insurance regional headquarters expected to open in late 2016.

May 13, 2016

Florida Mixed-Use Southeast Top Stories

Off to the Races: International Speedway Breaks Ground on ONE DAYTONA Mixed-Use Project

by John Nelson May 12, 2016

DAYTONA BEACH, FLA. — International Speedway Corp. (ISC), a motorsport event promoter and owner/operator of 13 motorsport entertainment facilities, has broken ground on ONE DAYTONA, a 300,000-square-foot mixed-use project in Daytona Beach. The development will be situated across from ISC’s Daytona International Speedway, which is home of the Daytona 500 NASCAR race. Set to open in fall 2017, ONE DAYTONA will feature retail, dining, entertainment and residential space, as well as two hotels. Development costs are estimated to total between $120 million and $150 million. ONE DAYTONA will be anchored by a 67,000-square-foot Bass Pro Shops Outpost and a 12-screen Cobb Theatre. Vertical construction has begun on the movie theater, and Bass Pro Shops will begin construction on its building in the coming weeks. Additionally, ISC has recently executed leases with first-to-market retailers such as Guitar Center, Tervis, It’Sugar, Jeremiah’s Italian Ice and Venetian Nail Spa. “We are very pleased to be announcing these five outstanding tenants,” says Jeff Boerger, vice president of corporate development at ISC. Kansas City, Mo.-based Legacy Development is managing the leasing efforts for ONE DAYTONA. “We are delivering an environment and mix of uses unlike any other in the country,” continues Boerger. Other components at …

May 12, 2016

Hospitality Mixed-Use Multifamily Office Texas

Seguin Main Street Program Buys Historic Hotel in Downtown Seguin

by Haisten Willis May 9, 2016

SEGUIN, TEXAS — The Seguin Main Street Program has purchased the historic Aumont Hotel located at 301 N. Austin St. in Seguin. The hotel, which was built in 1916, is vacant but is designed with retail space and an event venue on the first floor, apartments on the second and third floors and office suites on the fourth floor. The almost 20,000-square foot building is celebrating its centennial this year. Suzanne Puente of Berkshire Hathaway Home Services – Don Johnson Realtors represented the buyers, Gregg Woodall and Amy Woodall of New Braunfels, in the sale. Kelley Rose of Heritage Texas Properties represented the seller, Thomas Giles, who purchased the building in 2003 and rehabbed it into its current form. The buyers plan to renovate the apartments and offer premier residential rental space, as well as maintain the retail and office space with minor upgrades.

May 9, 2016

Arizona Mixed-Use Western

Five Star to Develop The Palmeraie Mixed-Use Project Adjacent to $2B Ritz-Carlton Development in Scottsdale

by Nellie Day May 9, 2016

SCOTTSDALE, ARIZ. — Five Star Development has announced plans to build a high-end mixed-use center that will be connected to the $2 billion Ritz-Carlton, Paradise Valley master-planned development in Scottsdale. Phase I of The Palmeraie will encompass approximately 160,000 square feet of mixed-use space located on 18 acres at the corner of Scottsdale Road and Indian Bend. Tenants at Phase I will include over 60 luxury and specialty retailers and a variety of chef-driven restaurant concepts. A future phase is expected to include luxury residences, a gourmet grocery store and food emporium, and a boutique hotel. Five Star is consulting with Hanna Struever, principal of Retail Portfolio Solutions, to guide and create the luxury merchant mix within the center. Nelsen Partners is heading up the architectural vision of the project, which will be designed to create a series of indoor and outdoor spaces. The Ritz-Carlton, Paradise Valley will break ground this summer with completion of the hotel and residences expected for 2018. Construction on The Palmeraie is expected to break ground in the second half of this year.

May 9, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Eastern Consolidated Arranges $165M Sale of Mixed-Use Portfolio in Manhattan

by Amy Works May 6, 2016

NEW YORK CITY — Eastern Consolidated has arranged the sale of a portfolio of nine mixed-use, elevator-serviced buildings in Manhattan’s Washington Heights neighborhood. WHP LLC acquired the portfolio, which totals 487,700 square feet, from Intervest Development Corp. for $165 million. Located on major corridors between W. 164th and W. 192nd streets, the portfolio consists of 413 apartments, of which 70 percent contain two or more bedrooms; 48 street-level retail stores; two professional offices; and one rooftop antenna. Marcia Rose Yawitz, Ron Solarz and Wade Hazelton of Eastern Consolidated represented the seller and procured the buyer in the deal.

May 6, 2016

Mixed-Use Restaurant Retail Texas Top Stories

Dallas Cowboys Unveil Plans for Retail Block at Team’s $1.5B Mixed-Use Development

by John Nelson May 5, 2016

FRISCO, TEXAS — The Dallas Cowboys have unveiled plans for a 200,000-square-foot retail block at The Star in Frisco, a $1.5 billion, 91-acre mixed-use development that will include the NFL team’s new headquarters. In addition to the retail space and corporate headquarters, The Star in Frisco will feature the Cowboys’ training complex, a 12,000-seat multi-use event center and an Omni hotel. “The retail area will allow visitors to enjoy The Star whether there’s an event happening or simply a Friday night out with friends and family,” says Jerry Jones Jr., executive vice president and chief sales and marketing officer for the Dallas Cowboys. Storefronts will line The Star Boulevard, Winning Drive and Cowboys Way at The Star, and will provide shoppers and diners with a Dallas Cowboys brand experience. The restaurants that will be opening locations at The Star include City Works, Dee Lincoln Prime, Liberty Burger, Mi Cocina, Neighborhood Services, Nestlé Toll House Café by Chip and Tupelo Honey Café. The retail space will be located south of the Cowboys’ headquarters and The Ford Center, which will house the event center and the team’s training complex. Neighborhood Services will be located inside the Omni hotel. Next Step Dance, a …

May 5, 2016

Illinois Midwest Mixed-Use

Structured Development Sells Chicago’s Blackhawk on Halsted Project

by Christina Cannon May 5, 2016

CHICAGO — Structured Development has sold Blackhawk on Halsted, a 224,000-square-foot mixed-use development. A foreign institutional investment fund represented by LaSalle Investment Management purchased the property, which is located at 1460 N. Halsted St. in Lincoln Park, for an undisclosed price. The fully leased development was completed in 2009 and consists of three structures with retail and medical office space. Buildings include an 82,901-square-foot structure that houses the British School of Chicago, whose lease runs through 2040; an adjacent mixed-use building that includes 48,016 square feet of retail and 93,287 square feet of medical office space; and a 550-vehicle parking garage with an additional 48,016 square feet of ground-level retail. Retail tenants at Blackhawk on Halsted include The Tile Shop and REI, whose 28,000-square-foot store is the retailer’s only location in Chicago. Northwestern Memorial Physicians Group, Advocate Health Care and Town & Country Pediatrics anchor the development’s medical office space. Structured Development acquired the property in 2012 for $82 million.

May 5, 2016

Mixed-Use Retail Texas

Fitness Sport Club to Open in Brazos Town Center Mixed-Use Development

by Haisten Willis May 3, 2016

ROSENBERG, TEXAS — NewQuest Properties has finalized a 38,835-square-foot lease with 24 Hour Fitness Worldwide Inc. at the 550-acre Brazos Town Center in the Houston suburb of Fort Bend County. Site work is underway on a tract fronting FM 762 and adjacent to Spec’s Wines, Spirits & Finer Foods. The California-based fitness center pioneer is planning to open a sport club, one of four concepts in its portfolio, by year’s end. McLeod-Cobb and Bob Conwell of NewQuest Properties represented the landlord, while their colleague Jeff Hayes negotiated on behalf of 24 Hour Fitness. The project’s new tenant has more than 400 clubs nationwide and nearly 4 million members. The 99 percent leased Brazos Town Center is located at the junction of Southwest Freeway (I-69) and FM 762.

May 3, 2016

Georgia Mixed-Use Southeast

ARW Group Plans to Develop $700M Atlanta River Walk Project

by John Nelson May 2, 2016

BRASELTON, GA. — ARW Group LLC, a joint venture between Peachtree City developer Jorge Duran and Harry Kitchen Jr. of the Foxfield Co., plans to build Atlanta River Walk, a $700 million mixed-use destination in Braselton. The proposed 508-acre project will be centered around a man-made “river” and will resemble the San Antonio Riverwalk and Oklahoma City Bricktown. The waterfront village will feature international restaurants and high-end shopping. Other components include single-family and multifamily housing, a Class A office park, seniors housing, a movie theater, boutique hotel, conference center, major supermarket and an outdoor amphitheater. The project will be surrounded by 30 acres of green space featuring art installations, walking trails and a multi-use path. Atlanta River Walk will be situated near Chateau Elan and Road Atlanta and straddle the county line between Hall and Jackson counties. ARW Group created the master plan in collaboration with Wakefield Beasley Architects and engineering firm Atwell Group. Funari Realty will manage residential sales. The project team also includes Road Atlanta and the city of Braselton. The Atlanta Business Chronicle reports that ARW Group will present the Atlanta River Walk project at a Hall County Planning Commission meeting today to get the site rezoned. …

May 2, 2016

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