Mixed-Use

The Waterfront Development Co. Breaks Ground for $400M Mixed-Use Development in Allentown

by Amy Works November 13, 2015

ALLENTOWN, PA. — The Waterfront Development Co. has broken ground for a $400 million mixed-use development along the western banks of the Lehigh River in Allentown. Spanning 26 acres, the project will include six office buildings, including the 157,498-square-foot 615 Waterfront Drive and the 131,457-square-foot 645 Waterfront Drive; three residential complexes, totaling 425 market-rate apartments; three parking structures; a main street and half-mile River Walk. Additionally, each of the 12 new buildings will offer retail and restaurant space. The development company comprises Jaindl Properties LLC, Dunn Twiggar Company LLC and Michael Dunn Co. LTD. Site-wide infrastructure is slated to take approximately 18 months, though building construction will be phased in and begin at any time during that timeframe. The project is expected to take approximately eight years for full build-out.

November 13, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $7.3M Sale of Upper East Side Mixed-Use Building

by Amy Works November 13, 2015

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 1481 York Ave. on Manhattan’s Upper East Side. The five-story building sold for $7.3 million, or $980 per square foot, in an all-cash transaction. The 7,500-square-foot property features one commercial unit and eight apartments, of which five are free market and three are rent stabilized. The five free-market units were delivered vacant. The property also offers 11,250 square feet of unused air rights. Thomas Gammino Jr. and Brett Weisblum of Cushman & Wakefield negotiated the transaction. The names of the buyer and seller were not released.

November 13, 2015

Mixed-Use Retail Texas

CBRE Global Investors Fund Acquires Mixed-Use Center in Dallas

by Haisten Willis November 13, 2015

DALLAS — A fund sponsored by CBRE Global Investors has acquired Mockingbird Station, a Class A mixed-use lifestyle center in Dallas totaling 560,468 square feet. The development includes retail space, an office tower and luxury loft-style apartments. Located at 5307, 5321 and 5331 E. Mockingbird Lane, the property sits just north of downtown. The development is built around Mockingbird Station, a stop for the DART light rail system serving the Dallas-Fort Worth area, and is also located directly off I-75. Mockingbird Station includes a 10-story, 148,878-square-foot office tower that is 94 percent occupied, as well as an adjacent parking garage containing 177 spaces. The 197,367-square-foot retail component, which is 92 percent occupied, includes restaurants, an eight-screen movie theater, a comedy club and several retailers. Mockingbird Station also includes 211 apartments, which are 96.7 percent occupied. The team is planning upgrades to select components throughout the units, which include the installation of updated solid surface countertops, tile backsplashes, premium fixtures and washer/dryers. The team is also planning to upgrade the property’s entranceway, leasing office and amenities.

November 13, 2015

Mixed-Use Retail Texas

M&M Arranges Sale of Mixed-Use Development in Colleyville

by Haisten Willis November 13, 2015

COLLEYVILLE, TEXAS — Marcus & Millichap has arranged the sale of The Village at Colleyville, a medical office and multifamily mixed-use building in Colleyville. The property was 100 percent occupied at the time of the sale. Nick Fluellen, Ron Hebert, Bard Hoover, Trey Caldwell and Scott Ogilvie of Marcus & Millichap’s Dallas office procured the buyer, a 1031-exchange investor. Built in 2009, the property is located at 5232 Colleyville Blvd. in Colleyville. The building features 15,000 square feet of medical office space and 30 multifamily units. Colleyville Family Medicine leases the medical office space.

November 13, 2015

Illinois Midwest Mixed-Use

Mixed-Use Facility in Chicago Suburb Nears Full Occupancy

by Christina Cannon November 13, 2015

GLENVIEW, ILL. — Midtown Square, a mixed-use development in the northern Chicago suburb of Glenview, is 90 percent leased, according to High Street Residential, a subsidiary of Trammell Crow Co. Situated on 2.7 acres, Midtown Square opened in November 2014. The four-story building is comprised of 138 Class A luxury apartment units and approximately 9,000 square feet of retail space. CorePower Yoga opened for business in early 2015 and occupies 5,000 square feet of the ground-floor retail. The apartments are one- and two-bedroom units that feature balconies or patios, quartz countertops, 9-foot ceilings, gas ranges, washers and dryers, a breakfast bar and walk-in closets. Community amenities include a clubroom, wine room, dog wash station, business center, bicycle storage, heated garage parking, storage lockers and a 24-hour fitness center.

November 13, 2015

California Loans Mixed-Use Western

PCCP Provides Construction Loan for Residential, Retail Development

by Nellie Day November 13, 2015

FREMONT, CALIF. — PCCP has provided a senior construction loan to a joint venture between BHV CenterStreet Properties and JD Capital for the development of Artist Walk at 37070-3722 Fremont Blvd. Situated on 6.24 acres in the Centerville District of Fremont, the infill mixed-use project will feature 185 apartments and 28,641 square feet of ground-floor retail space. Plans for the development include three- and four-story buildings with surface parking, as well as continuous street-facing retail across three separate buildings along Fremont Boulevard with a mix of 12 to 17 restaurants and retailers. The apartment units will feature one- and two-bedroom layouts with nine-foot ceilings, washer/dryer, private balconies and upgraded finishes. On-site amenities will include a pool, clubhouse and business center.

November 13, 2015

Mixed-Use Retail Texas

Gables Residential Breaks Ground on Las Colinas Mixed-Use Development

by Haisten Willis November 12, 2015

IRVING, TEXAS — Gables Residential has broken ground on a mixed-use development in the Las Colinas area of Irving. Gables Water Street, located off of John W. Carpenter Freeway (SH 114), will consist of 316 apartment homes in three five-story buildings. Gables Water Street will offer efficiencies along with one-, two-and three-bedroom apartment homes averaging 960 square feet. Interior finishes will include stainless steel appliances, granite countertops, under mount sinks, framed mirrors, tile backsplash and wood-style flooring. Community amenities will include two areas with views of Lake Carolyn, two fitness centers, a business and mail center, game room, pool and outdoor kitchen. Retail tenants will include Olivella’s, Twisted Root Burger, Main Street Bistro and Bakery, Planet Sub and The Londoner Pub. The community will be located one mile from the Irving Music Factory, which is under construction. Comerica Bank, Cadence Bank and the city of Irving provided financing for the project, and WDG is the architect for the development. Water Street is located a block from a DART light rail connection to the central business district and Dallas/Fort Worth International Airport. The mixed-use community also offers its own transit station for the elevated rail system that runs around the Las …

November 12, 2015

Georgia Loans Mixed-Use Southeast

A10 Capital Provides $67M Acquisition Loan for Value-Add Portfolio in Metro Atlanta

by John Nelson November 12, 2015

ATLANTA — A10 Capital has provided a $67 million acquisition loan for a 12-property portfolio in metro Atlanta. The portfolio includes value-add retail, industrial and office properties throughout the greater Atlanta area. Gregg Shapiro of HFF arranged the non-recourse loan on behalf of the borrower, Stream Realty Partners. Stream will use the loan proceeds to fund the acquisition, renovation and future lease-up of the portfolio.

November 12, 2015

Florida Mixed-Use Southeast

Investment Properties Corp. Brokers $25.5M Sale of Retail, Offices in Downtown Naples

by John Nelson November 12, 2015

NAPLES, FLA. — Investment Properties Corp. has brokered the $25.5 million sale of 50,000 square feet of street-level retail and office space located at 800 and 821 5th Ave. S. in downtown Naples. Westbury International Corp. sold the assets to a subsidiary of Hendricks Commercial Properties LLC. David Stevens of Investment Properties Corp. brokered the transaction.

November 12, 2015

Indiana Midwest Mixed-Use

Woolpert to Design $60M Mixed-Use Development in Downtown Carmel, Indiana

by Christina Cannon November 12, 2015

CARMEL, IND. — Anderson Birkla Investment Partners has selected Woolpert to design a $60 million mixed-use development in downtown Carmel, a northern suburb of Indianapolis. The Proscenium will be situated on 6.5 acres and will include 225 luxury one- and two- bedroom apartment units. Plans also include a fitness club, a bike center and a coffee bar. The Proscenium will also offer 20,000 square feet of retail space and 60,000 square feet of office space that will be centered on 1.8 acres of public green space. Construction on The Proscenium will begin this fall and is expected to take 18 to 24 months to complete.

November 12, 2015

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