Mixed-Use

CapasGroup, Cushman & Wakefield Broker $24M Sale of Development Site in West Palm Beach

by John Nelson November 23, 2015

WEST PALM BEACH, FLA. — CapasGroup Realty Advisors and Cushman & Wakefield have teamed up to broker the $24 million sale of a full city block at 419 Lakeview Avenue in downtown West Palm Beach. Known as Lakeview Centre, the 3.2-acre site is approved for nearly 1.1 million square feet of office, residential, hotel and retail uses. Brad Capas of CapasGroup and Mark Pateman and Rosendo Caveiro of Cushman & Wakefield teamed up to represent the seller, an offshore entity, in the transaction. The buyer is a private investor with existing holdings in the West Palm Beach area.

November 23, 2015

Illinois Midwest Mixed-Use

Spirit Bascom Ventures Acquires Mixed-Use Property in Chicago for $21.6M

by Christina Cannon November 23, 2015

CHICAGO — Spirit Bascom Ventures LLC, a partnership between The Bascom Group LLC and Spirit Investment Partners LLC, has acquired a mixed-use property in Chicago for $21.6 million. The eight-story building, located at 5200 N. Sheridan Road, contains 223 apartment units. The property also includes 9,000 square feet of retail space on the ground floor. The venture plans on turning the property into a Class A luxury rental building. The major repositioning will include the repair or replacement of major mechanical systems, windows and elevators. The renovated apartments will feature open floor plans with all new kitchens, bathrooms and kitchens with stone countertops, stainless steel appliances, refinished hardwood floors and contemporary urban fixtures and finishes. Plans also call for a new tenant lounge, fitness center and rooftop deck. The property is located two blocks from the Berwyn Street stop on the Chicago Transit Authority’s Red Line. Todd Stofflet of KIG CRE LLC represented the undisclosed seller in the transaction. Andy Feinberg, Marc Schulder and David Harte of Ackman-Ziff arranged the debt financing provided by MidCap Financial LLC.

November 23, 2015

Florida Mixed-Use Southeast

NGKF Capital Markets Brokers Sales of Three Orlando Assets Totaling $92.2M

by John Nelson November 20, 2015

ORLANDO, FLA. — NGKF Capital Markets has recently completed three separate investment sale transactions in the metro Orlando area totaling nearly $100 million. Most recently, the company closed the $21.2 million sale of Vista Centre Shoppes, a 98,411-square-foot shopping center near Disney World. NGKF Capital Markets represented the buyer, GL Orlando Vista LLC, a real estate investment firm based in South Florida. Auction.com represented the seller, TSO Vista Centre. NGKF Capital Markets also brokered the sale of two multifamily communities on behalf of the seller, CWCapital Asset Management LLC. The properties, Victoria Place Apartments and Charter Pointe Apartments, sold at a combined $71 million. Adam Greenberg, Michael Lapointe, Michael Lohmann, Scott Gordon and Stephanie Ceballos comprise the NGKF Capital Markets team that brokered all three transactions.

November 20, 2015

Industrial Mixed-Use New York Northeast Office

IRG Purchases 2 Million SF Pfizer Campus in Pearl River, N.Y.

by Amy Works November 20, 2015

PEARL RIVER, N.Y. — Industrial Realty Group (IRG) has acquired the more than 2 million-square-foot Pfizer campus in Pearl River, located 20 miles north of Manhattan. IRG plans to transform the 200-acre campus into a dynamic mixed-use, multi-tenant campus, which will bring businesses and job opportunities to Rockland County. The acquisition includes approximately 38 buildings of laboratory, manufacturing, office and support buildings. Pfizer will retain and operate 500,000 square feet and lease back approximately 1.2 million square feet from IRG. Terms, including sales price, of the acquisition were not released. IRG plans to transform the 2 million-square-foot Pfizer campus in Pearl River, N.Y., into a mixed-use, multi-tenant campus.

November 20, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Silver Arch Capital Partners Closes $8M Loan for Mixed-Use Properties in NYC

by Amy Works November 20, 2015

NEW YORK CITY — Silver Arch Capital Partners, a private lender, has closed an $8 million first mortgage loan secured by two mixed-use properties in New York City. The borrowers, Mooney House LLC and 127 Mott Street LLC, will use the loan proceeds to pay off an existing mortgage, renovate the properties and fund reserves and closing costs. The properties are 18 Bowery/1-7 Pell St., which features four residential apartments and two ground-level commercial spaces in two buildings; and 127 Mott St., which consists of 12 residential units and one commercial space in two buildings. Both properties were acquired in 2014 and have undergone more than $375,000 in capital improvements. Additionally, each property has more than 6,000 square feet of excess development rights.

November 20, 2015

Illinois Midwest Mixed-Use

SVN | Chicago Commercial Brokers $2.5M Sale of Mixed-Use Building in Chicago

by Christina Cannon November 19, 2015

CHICAGO — SVN | Chicago Commercial has brokered the $2.5 million sale of a 6,000-square-foot, mixed-use building in Chicago. The building is located at 615 W. Randolph St. Donnie Madia of One Off Hospitality Group purchased the building and operates the Avec Restaurant on the ground floor. The second floor is used for office space, and the third and fourth floors are residential. Scott Maesel, Chad Schroedl and Drew Dillon of SVN | Chicago Commercial represented the seller, Dorothy Jankowski, in the transaction.

November 19, 2015

Massachusetts Mixed-Use Multifamily Northeast Office Retail

Senate Construction Completes Phase II of Mixed-Use Project in Massachusetts

by Amy Works November 19, 2015

GROTON, MASS. — Senate Construction Corp. has completed the second phase of construction at Boynton Meadows, a mixed-use development in Groton. The second phase consists of eight townhomes, ranging in size from 2,000 square feet to 2,500 square feet with additional walkout and basement space. The first phase of the project, which was completed in 2012, included mixed-use office and retail space, including a yoga studio, bakery and dental office, and the third phase, slated to begin soon, will include seven residential units. Developed by Mount Laurel Development the overall project includes the restoration of a historic, colonial structure, the addition of retail space and the construction of 15 townhouse units overlooking Gibbet Hill. Maugel Architects designed the mixed-use project, which was financed by Bank of New England.

November 19, 2015

Renaissane-Square-RD-Management-Evesham-NJ

Mixed-Use Multifamily New Jersey Northeast Office Restaurant Retail

RD Management to Redevelop The Shoppes and Residences at Renaissance Square

by Amy Works November 18, 2015

EVESHAM, N.J. — RD Management LLC has unveiled its redevelopment plans for The Shoppes and Residences at Renaissance Square, located on Route 70 in Evesham. Formerly known has Tri-Towne Plaza, the center offers 112,245 square feet of mixed-use space. The redevelopment includes the addition of five buildings, containing 338 apartments; an open space with jogging paths, walkways and a pond; new signage; upgrades to the retail portion; and the addition of new retail and restaurant facilities to the existing space. The development is scheduled to commence in spring 2016.

November 18, 2015

Midwest Missouri Mixed-Use

Streets of St. Charles Mixed-Use Development in Missouri Signs New Tenants

by Christina Cannon November 18, 2015

ST. CHARLES, MO. — Streets of St. Charles has added new tenants to its mixed-use development that is still partially under construction in St. Charles, a northwestern suburb of St. Louis. MOD, a fashion boutique, will open its fourth location at the retail center and will occupy 1,200 square feet. The location is scheduled to open in the spring of 2016. Supercuts also plans to open a new store at the Streets of St. Charles. Supercuts will occupy 1,171 square feet and will open in early 2016. The Streets of St. Charles is a 27-acre community that offers retail, dining, entertainment, hospitality, residential and office components. Prior to MOD and Supercuts signing a lease, PF Changs, Pieology and Noodles & Co. inked deals and those spaces are also currently under construction.

November 18, 2015

Mixed-Use Multifamily New York Northeast Retail

JV Acquires Brooklyn Development Site for $50M

by Amy Works November 17, 2015

NEW YORK CITY — A partnership between Adam America, Slate Property Group and China Vanke has acquired a development site, located at 10 Nevins in downtown Brooklyn, for $50 million. The site is approved for plans to develop a mixed-used project with 184 residential units and ground-floor retail space. Ofer Cohen and Melissa Warren of TerraCRG were the sole brokers in the transaction. The name of the seller was not released.

November 17, 2015

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