Mixed-Use

Clarion Partners Purchases The Lincoln in Miami Beach from HQ Capital Partners for $109M

by John Nelson April 20, 2016

MIAMI BEACH, FLA. — Clarion Partners has purchased the leasehold interest in The Lincoln, a 161,824-square-foot mixed-use property in Miami Beach. HQ Capital Partners LP sold the five-story building for $109 million, according to The Real Deal. Built in 2003, the property was 94 percent leased at the time of sale to eight retailers including Pottery Barn and Williams Sonoma and 31 office tenants including Morgan Stanley and OnBoard Media. The Lincoln comprises 43,166 square feet of ground-floor retail space, 118,658 square feet of Class A office space and a 709-space parking structure. Christian Lee, Jose Lobon, Andrew Chilgren, Charles Foschini and Christopher Apone of CBRE collaborated with Stephen Rutchik and Jonathan Kingsley of Colliers International to represent HQ Capital Partners in the transaction.

April 20, 2016

Georgia Mixed-Use Southeast

Atlanta United FC Unveils Plans for $60M Training Facility Designed by tvsdesign

by John Nelson April 20, 2016

MARIETTA, GA. — Atlanta United FC, Major League Soccer’s (MLS) 22nd franchise, has released details and renderings for its $60 million training facility underway in Marietta, a northern suburb of Atlanta. Designed by Atlanta-based tvsdesign, the project will include six playing fields and a 30,000-square-foot facility that will house both the professional and academy teams for the club, which will begin its first MLS season in 2017. Located along Marietta’s Franklin Road on a 33-acre site, the training facility will be used by professional and soccer academy players, along with the club’s executive and soccer operations staff. The project is expected to bring 80 high-paying jobs to the area. Atlanta United will play in the new Mercedes-Benz Stadium currently under construction in downtown Atlanta. The team is owned by Atlanta Falcons owner Arthur Blank and is led by club president Darren Eales.

April 20, 2016

Loans Mixed-Use Multifamily Northeast Pennsylvania Retail

JV Receives $45M Loan for 180-Unit Mixed-Use Apartment, Retail Tower in Philadelphia

by Amy Works April 18, 2016

PHILADELPHIA — Scully Co., Alterra Property Group and Spring Creek Investment Management have received $45 million in refinancing for Avenir, a 180-unit mixed-use apartment and retail tower in Philadelphia’s Center City. Ryan Ade and Jim Cadranell of HFF arranged the seven-year, fixed-rate loan through Webster Bank for the borrower. Loan proceeds will replace the existing construction loan on the property. Located at 1501-1515 Chestnut St., the 16-story building was converted from office space to 101,628 square feet of residential space and 8,887 square feet of ground-floor retail space. On-site amenities include a fitness center, screening room, conference and business suites, resident lounge, indoor bike storage and cycle stations, and a 24-hour concierge service.

April 18, 2016

Loans Mixed-Use Multifamily New York Northeast Retail

Eastern Union Funding Secures $5.1M Acquisition Loan for Mixed-Use Property in Brooklyn

by Amy Works April 15, 2016

NEW YORK CITY — Eastern Union Funding has secured a $5.1 million loan on behalf of a Brooklyn-based investor for the acquisition of a mixed-use property located at 900 Grand St. in Brooklyn’s East Williamsburg neighborhood. The 22,600-square-foot property features two ground-floor commercial/retail spaces totaling 15,000 square feet, and residential lofts on the second floor. As a former industrial property, the building also features 12-foot to 17-foot ceiling heights, five drive-ins, two elevators and 8,000 buildable square feet. Alex Freund of Eastern Union Funding arranged the nine-year, fixed-rate loan through Suffolk County Bank.

April 15, 2016

THEARC Town Hall Education Arts Recreation Campus Washington DC

District of Columbia Loans Mixed-Use Southeast

SunTrust Bank Closes $32.3M Financing for Phase III of THEARC in D.C.

by John Nelson April 14, 2016

WASHINGTON, D.C. — SunTrust Banks Inc. has closed $32.3 million in financing to fund Phase III of the Town Hall Education Arts Recreation Campus (THEARC), a cultural, educational and social services center located in southeast Washington, D.C. THEARC is run by Building Bridges Across the River (BBAR), a nonprofit established by W.C. Smith for the purpose of building and managing the facility, including THEARC Theater and THEARC Farm. In addition to BBAR, THEARC houses nine nonprofit partners and provides dance, art and music classes, medical and dental care, afterschool activities, performances, education and social services to underserved communities in D.C.’s Wards 7 and 8. Phase III of THEARC will add approximately 92,000 square feet to the existing 110,000-square-foot development. The new addition will be home to an expanded clinic run by Children’s National Medical Center, Appletree Institute for Education Innovation Inc. (classroom, training and administrative space), the Bishop Walker School for Boys and The Phillips Collection. The new building will also include a black box theater. The project will be completed in 2017. The deal was led by SunTrust Community Capital and included $32.3 million in New Markets Tax Credit (NMTC) allocations. Three community development entities (CDEs) each contributed $10 …

April 14, 2016

Industrial Mixed-Use New Jersey Northeast Retail

NAI Hanson Arranges Sale of Catering, Industrial Facility in New Jersey

by Amy Works April 13, 2016

EAST RUTHERFORD, N.J. — NAI James E. Hanson has arranged the sale of The Landmark, a two-building property located at 33 Route 17 South in East Rutherford. The Hampshire Companies, through one of its funds, acquired the asset for an undisclosed price. Situated on 3.2 acres, the mostly vacant site consists of a 25,000-square-foot catering facility and a 53,000-square-foot industrial building. The property is zoned regional commercial and offers 225 feet of frontage along Route 17 South. The buyer plans to redevelop the site with a 100,000-square-foot self-storage facility and a convenience store with a gas station. Andrew Somple and Greg James of NAI Hanson represented the undisclosed seller in the transaction.

April 13, 2016

Florida Mixed-Use Retail Southeast

Kimco Realty Corp. Acquires Two South Florida Assets from JV Partner for $299.2M

by John Nelson April 13, 2016

HOLLYWOOD, FLA. — Kimco Realty Corp. has purchased the remaining 45 percent ownership interest in the Oakwood Plaza shopping center and the Dania Pointe mixed-use development in Hollywood for a gross purchase price of $299.2 million. Kimco acquired the interest and assumed $100 million of mortgage debt from its joint venture partner, Canada Pension Plan Investment Board. The adjacent properties have a combined two miles of frontage on I-95 and are near the Fort Lauderdale-Hollywood International Airport and the Port Everglades international cruise port. Oakwood Plaza is a 900,000-square-foot open-air retail center that is fully leased to tenants such as Home Depot, Marshalls, HomeGoods, Ross Dress for Less, Michaels, PetSmart, BJ’s and Regal Cinemas. Dania Pointe is a mixed-use, ground-up development project that will include approximately 900,000 square feet of retail stores and restaurants, 1,000 luxury apartments, two hotels totaling 300 rooms and two office towers. Phase I will be a traditional 318,000-square-foot open-air retail power center with construction expected to begin in the fall of 2016. Phase II will be a lifestyle center featuring 575,000 square feet of Main Street retail, residential towers and office buildings. Construction for Phase II is scheduled to start at the end of 2017.

April 13, 2016

Illinois Midwest Mixed-Use

Reed Construction to Build 52,000 SF Mixed-Use Building in Chicago

by Christina Cannon April 12, 2016

CHICAGO — Reed Construction will build a 52,000-square-foot mixed-use building in Chicago’s Fulton Market Building. MAB Capital Management is developing the five-story building located at 450 N. Morgan St. The project will feature a mix of office and retail space, as well as 50 parking spots. Construction is slated to start in the second quarter and commence in early 2017. Pappageorge Haymes Partners is providing the architectural services.

April 12, 2016

Georgia Mixed-Use Southeast

Pellerin Real Estate Names $20M Revitalization Project in Grant Park The Beacon Atlanta

by John Nelson April 12, 2016

ATLANTA — Atlanta-based Pellerin Real Estate has announced the name of its $20 million, 110,000-square-foot redevelopment project in Atlanta’s Grant Park neighborhood — The Beacon Atlanta. The project is a revitalization of six warehouses at 1039 Grant St. along the Atlanta BeltLine’s Southside Trail within blocks of Zoo Atlanta. Upon completion, The Beacon Atlanta will feature retail space, a fitness studio, wellness center, beauty salon, food market, loft office space and food and beverage production facilities. Construction is set to begin in late 2016, with a planned opening in the late summer of 2017.

April 12, 2016

Mixed-Use Multifamily New York Northeast Retail

Hubb NYC Acquires 40-Unit Mixed-Use Property in Manhattan for $24.5M

by Amy Works April 12, 2016

NEW YORK CITY — Hubb NYC has purchased a mixed-use property located at 99 Suffolk St. in Manhattan’s Lower East Side. The 40-unit asset sold for $24.5 million, or $830 per square foot. Built in 2004, the 29,600-square-foot building features 35 residential units and five commercial units, currently occupied by Elements Preschool. The residential portion includes three studios, 30 one-bedroom and two two-bedroom units. Michael DeCheser, Darragh Clarke and Mei Ling Wong of Cushman & Wakefield brokered the transaction. The name of the seller was not released.

April 12, 2016

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