Mixed-Use

Retail Specialists Opens 79 Commerce Mixed-Use Project in Montgomery

by John Nelson October 22, 2015

MONTGOMERY, ALA. — Retail Specialists LLC has opened 79 Commerce, a mixed-use development comprising apartment units and retail space in downtown Montgomery. The property is located on Bibb Street across from the Montgomery Convention Center. The project features 54 Class A apartment residences and 15,800 square feet of ground-floor retail space. Mellow Mushroom, a pizza eatery chain, plans to open its new restaurant at the development by the first quarter of 2016. Retail Specialists developed the project and is leasing and managing the project’s retail portion. Partners Realty is managing and leasing the residential portion of 79 Commerce. The design team includes architect Live Design Group, general contractor Brasfield & Gorrie and engineer Goodwyn, Mills and Cawood. Golden Bell Capital, a REIT based in Birmingham, and Iberia Bank provided construction financing.

October 22, 2015

Industrial Mixed-Use New Jersey Northeast Retail

Cushman & Wakefield Arranges $18.5 Million Financing, Advises on JV Equity for New Jersey Portfolio

by Jaime Lackey October 21, 2015

CLARK, N.J. — Cushman & Wakefield has raised an $18.5 million senior mortgage loan and served as advisor to a joint venture between Denholtz Associates and MB1 Capital Partners for the acquisition of a mixed-use portfolio located in Clark. The portfolio is situated on 21-acres of infill retail and industrial improvements located just off exit 135 of the Garden State Parkway. The portfolio is currently 96.5 percent leased with L’Oreal serving as the anchor tenant. Washington Trust Co. provided the five-year financing. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, John Spreitzer and Andre Hass served as exclusive advisors on this transaction.

October 21, 2015

Mixed-Use Southeast Tennessee

Doster Construction Completes Mixed-Use Development in Metro Nashville

by John Nelson October 21, 2015

BRENTWOOD, TENN. — Birmingham, Ala.-based Doster Construction Co. has completed construction on Tapestry at Brentwood Town Center, a mixed-use development located in the Nashville suburb of Brentwood. The property comprises two four-story buildings spanning 393 units. In addition to the property’s retail space, the project’s amenities include two courtyards with a pool, a zen garden space with four outdoor kitchens, sports lounge, demonstration kitchen, billiard table, large clubhouse with terrace deck, conference room, leasing office area, retail space and a “fitness bridge” that features a yoga room and gym with workout equipment. The fitness bridge spans the two buildings and the paved entrance to the property that accesses the two parking decks wrapped by each building. The retail space at Tapestry is soon to be filled with a restaurant, and the areas surrounding Tapestry include Brentwood Place Shopping Center that features a Nordstrom Rack and Kroger. Northwestern Mutual Life Insurance Co. is the project’s owner, Bristol Development is the developer and Fugleberg Koch Architects is the architect.

October 21, 2015

Loans Mixed-Use Retail Texas

BMC Capital Provides $7.6M Acquisition Loan for Mixed-Use Property in Colleyville

by Haisten Willis October 20, 2015

COLLEYVILLE, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $7.6 million loan for the purchase of a mixed-use property located in Colleyville. The loan featured a five-year fixed term at 4 percent interest and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s corresponding banking relationships.

October 20, 2015

Michigan Midwest Mixed-Use

McCormack Baron Salazar to Break Ground on $65M Mixed-Use Project in Detroit

by Christina Cannon October 19, 2015

DETROIT — McCormack Baron Salazar Development Inc. will break ground on Orleans Landing near Detroit’s central business district this Tuesday, Oct. 20. The new mixed-use community will be situated on approximately eight acres adjacent to the Detroit River Walk and the Dequindre Cut Greenway. The first phase will include 278 apartments — 20 percent of which will be held for “affordable income” residents — and 10,000 square feet of retail, according to the Detroit Free Press. The development will include a mix of one- and two- bedroom homes, flats, lofts and townhomes. The $65 million project was financed through a combination of conventional FHA 221 (d) 4 debt, a two-tier equity structure and public funds. Hamilton Anderson Associates Inc. is the architect. Urban Design Associates is serving as the master planner. O’Brien Edwards and Brinkman Constructors is the general contractor. McCormack Baron Management Inc. will serve as the property manager upon completion. The project is slated for completion in April 2017. According to Crain’s Detroit Business, plans for a second phase of the development call for about 230 more rental units and additional retail space.

October 19, 2015

Loans Midwest Minnesota Mixed-Use

Oak Grove Capital Originates $9.3M FHA Loan for New Mixed-Use Property in Minneapolis

by Christina Cannon October 16, 2015

MINNEAPOLIS — Oak Grove Capital has originated a $9.3 million FHA loan for the construction of Broadway Flats, a mixed-use property located in north Minneapolis. The property will include commercial space and workforce housing. Ken Dayton and Pat McMullen of Oak Grove Capital arranged the loan. The property is being built in an effort to revitalize the damage resulting from a tornado in 2011. The 19,000-square-foot commercial space is slated to open in April 2016, followed by the opening of 103 housing units in July 2016. Building amenities will include a business center, fitness room, conference room and underground parking. Plans to integrate a metro transit shelter into the exterior of the building should go into effect in 2017.

October 16, 2015

Midwest Mixed-Use Wisconsin

U.S. Bank Invests $7.2M in New 110,000 SF Mixed-Use Development in Milwaukee

by Christina Cannon October 16, 2015

MILWAUKEE, WIS. — U.S. Bank has provided $7.2 million in equity for the development of a 100,000-square-foot mixed-use project on eight acres in Milwaukee. Freshwater Plaza will be located in Walker’s Point at the corner of South First Street and East Greenfield Avenue. The construction cost of the initial phase is $28.8 million. The $7.2 million in equity was raised through the federal New Markets Tax Credit Program, which is designed to spur revitalization efforts of low-income and impoverished communities across the country. The development will feature 76 apartments, including 20 percent to be set aside for lower-income residents; a Cermak Fresh Market grocery store; and other as yet unnamed retailers. The City of Milwaukee is providing tax-increment financing, and the Wisconsin Economic Development Corp. provided a brownfield grant. The property is slated to open by the end of 2016. Endeavour Corp., Wangard Partners Inc. and Freshwater Plaza Corp. are the project developers. Catalyst Construction LLC is the general contractor.

October 16, 2015

Mixed-Use Retail Texas

New Tenants Sign on at Caldwell Cos.’ Boardwalk at Towne Lake in Houston

by Haisten Willis October 15, 2015

HOUSTON — The Boardwalk at Towne Lake, a mixed-use development in Houston, has added MOD Pizza, Nails of America and Orangetheory Fitness to its tenant roster. Other retailers at the center include Texas Children’s Pediatrics, Copper Creek Orthodontics, Massage Heights, Jaxton’s, Taisho, World of Beer and Land of a Thousand Hills Coffee Co. MOD Pizza opened its first location in Seattle in 2008. Its Towne Lake franchise location will be its sixth in Houston. Orangetheory Fitness utilizes a blend of personal training and group settings to help its members reach their fitness goals. This will be its seventh Houston location. Nails of America is a Houston-based company operating more than 14 salons in the greater Houston area. Caldwell Cos. is the developer of the lakeside development.

October 15, 2015

The Battery Atlanta Braves SunTrust Park

Georgia Mixed-Use Southeast

Atlanta Braves Reveal Name, Tenant Roster of Mixed-Use Project Adjacent to SunTrust Park

by John Nelson October 15, 2015

ATLANTA — The Atlanta Braves have revealed the name and several tenants of the new mixed-use development surrounding SunTrust Park, the team’s new ballpark set to open in Cobb County in 2017. The name of the project is The Battery Atlanta and the first wave of restaurants include Antico Pizza, Cru Food and Wine Bar, Tomahawk Taproom featuring Fox Bros. Bar-B-Q, Superica and a steak house concept with chef Linton Hopkins, the owner of Atlanta’s Holeman & Finch restaurants. In addition to restaurants and retail, The Battery Atlanta will be home to One Ballpark Center, Comcast’s regional office headquarters housing the new Innovation Lab. The Battery Atlanta is being developed by the Atlanta Braves along with retail partner Fuqua Development, office developer Pope & Land Enterprises and Pollack Shores Real Estate. The development will also house an Omni hotel and The Roxy Theatre, a 53,000-square-foot indoor entertainment venue co-developed by The Atlanta Braves and Live Nation.

October 15, 2015

Alabama Mixed-Use Southeast

RCP Cos. to Develop $100M Mixed-Use Project in Downtown Huntsville

by John Nelson October 15, 2015

HUNTSVILLE, ALA. — RCP Cos. plans to develop CityCentre at Big Spring, a $100 million mixed-use development in downtown Huntsville’s central business district. Located on Williams Avenue between Monroe Street and Lowe Avenue, CityCentre at Big Spring will feature nearly 50,000 square feet of retail and restaurant space, more than 270 upscale apartment residences and office lofts. Plans also include two hotels operated by Huntsville-based Yedla Hotel Management that will span more than 230 rooms. The project’s structured and street-level parking will provide approximately 750 parking spaces. The new development will be integrated with Big Spring Park on nine acres downtown and between the popular Von Braun Center and Twickenham Square. Site demolition is complete, and construction is expected to begin by year-end. RCP Cos. plans to open Phase I in 2016. Pittsburgh-based Urban Design Associates serves as the project’s master planner and is providing insight on architectural patterns, building forms and the overall urban plan. Birmingham, Ala.-based CMH Architects is providing architectural services, and Retail Leasing Advisors and Dart Retail Advisors are the exclusive leasing agents for the new development.

October 15, 2015

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