Mixed-Use

CONNOLLY, Terwilliger Pappas Break Ground on Mixed-Use Development in Metro Atlanta

by John Nelson September 17, 2015

CHAMBLEE, GA. — CONNOLLY, its affiliate Spruce Street Partners and Terwilliger Pappas have begun construction on Parkview on Peachtree, a transit-oriented, mixed-use development in Chamblee. The first phase of construction includes the demolition of existing vacant buildings and site grading. Set to open in 2017, Parkview on Peachtree will be located at the intersection of Peachtree Boulevard and Clairmont Road adjacent to the 45-acre Keswick Park. The mixed-use project will feature 40,000 square feet of restaurant and retail space, 14,000 square feet of loft office space and 503 multifamily units. Terwilliger Pappas will develop 303 multifamily units in Phase I at Solis Parkview, with another 200 planned for Phase II. Ed O’Connor of Lavista Associates Inc. and Mindy Elms of Vantage Realty Partners will handle retail and restaurant leasing, and Rob Binion and Brian Burks of Lavista Associates will handle office leasing.

September 17, 2015

Indiana Midwest Mixed-Use Uncategorized

Bradley Co. Brokers 5,700 SF of Leases in Fort Wayne

by Christina Cannon September 16, 2015

FORT WAYNE, IND. — Bradley Co. arranged a combination of office, industrial and retail leases in August totaling approximately 5,700 square feet. Dan Dickey of Bradley Co. represented landlord J.D. Ventures in the lease of a 3,000-square-foot industrial space located at 1905 Production Road in Fort Wayne. Tyler Binkley of Bradley Co. represented the tenant, IASA Group LLC. Anna Bowman of Bradley Co. represented the tenant, Stevens International, in its lease of a 1,999-square-foot office space located at 6527 Constitution Drive in Fort Wayne. Binkley and Bowman also represented the landlord, American Way LLC, in the lease of a 686-square-foot retail space located in Colony Shoppes at 6431 Bluffton Road in Fort Wayne. Binkley also represented the tenant, Boost Mobile, in the transaction.

September 16, 2015

Mixed-Use Multifamily New York Northeast Retail

9,250 SF Mixed-Use Building in Brooklyn Sells for $3.3M

by Amy Works September 16, 2015

NEW YORK CITY — An undisclosed buyer has acquired a mixed-use building located at 1902 Church Ave. in Brooklyn’s Flatbush neighborhood. The corner property sold for $3.3 million, or $357 per square foot, in an all-cash transaction. The three-story, 9,250-square-foot building features nine rent-stabilized apartments and three commercial units. Richard Velotta of Cushman & Wakefield handled the transaction. The name of the seller was not released.

September 16, 2015

Florida Loans Mixed-Use Southeast

Berkadia Arranges $23.2M Construction Loan for Mixed-Use Project in Tallahassee

by John Nelson September 15, 2015

TALLAHASSEE, FLA. — Berkadia has arranged $23.2 million in construction financing for Seminole Booster Inc.’s College Town Phase II at Florida State University (FSU), a mixed-use development in Tallahassee. College Town Phase II will be situated less than half a mile from FSU and approximately a mile from downtown Tallahassee at the crossroads of South Woodward Avenue and West Madison Street. The project will comprise 89 student housing apartments with 202 beds in total, 23,145 square feet of retail space, 3,300 square feet of office space and a parking garage spanning 593 spaces. The developers, which include Alan Hooper and Tim Petrillo of Urban Street Development and Seminole Boosters Inc., plan to deliver College Town Phase II in August 2016. Phase I, which consists of 71 apartments and 33,000 square feet of restaurant and retail space, opened in August 2013. Hooper Construction will be the construction manager for the project. Brad Williamson of Berkadia’s Miami office worked on behalf of the developers to arranged the three-year, interest-only loan through Mutual of Omaha Bank.

September 15, 2015

Florida Mixed-Use Southeast

Marcus & Millichap Brokers $12.3M Sale of London Arms Mixed-Use Property in Miami Beach

by John Nelson September 15, 2015

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $12.3 million sale of London Arms, a four-story, 21,120-square-foot mixed-use property located at 727 Collins Ave. in Miami Beach’s Collins Avenue Fashion District. Originally constructed in 1930 as a 52-room hotel, the property was later converted to an apartment building. Aria Development Group purchased the building in 2013 and later converted it into a mixed-use asset comprising 4,700 square feet of ground-floor retail space and 25 upper floor rental units. Aria is the operator of the seller, 727 Collins Avenue, a limited liability company. Drew Kristol, Kirk Olson, Felipe Echarte and Evan Kristol of Marcus & Millichap, along with Still Hunter III of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction. Drew Kristol and Olson procured the buyer, a limited liability company based in Atlanta.

September 15, 2015

District of Columbia Mixed-Use Southeast

High Street Residential to Develop Mixed-Use Project in D.C.

by John Nelson September 14, 2015

WASHINGTON, D.C. — High Street Residential, the multifamily subsidiary of Trammell Crow Co., and its joint venture equity partner have teamed up with Central Armature Works (CAW) to redevelop an existing CAW electrical repair and supply warehouse at 1200 3rd St. N.E. in Washington, D.C. High Street Residential plans to transform the 2.5-acre parcel in Washington’s NoMa neighborhood into an apartment building, condominium building, outdoor public space, street-level retail and a hotel. The transit-oriented project will be located directly adjacent to the NoMa Metro station. HFF represented CAW in the land sale.

September 14, 2015

Mixed-Use Southeast Virginia

Rubenstein Partners Acquire Mixed-Use Development in Northern Virginia

by John Nelson September 14, 2015

ALEXANDRIA, VA. — Rubenstein Partners LP has purchased 2461 Eisenhower Avenue, a 360,000-square-foot mixed-use property in Alexandria. The project comprises a 14-story, 335,000-square-foot office tower wrapped by 25,000 square feet of retail and restaurants. The office building is currently gutted and is undergoing a 15-month transformation into a Class A property with a fitness center and conference facilities. Rubenstein Partners also purchased an adjacent retail pad at 2425 Eisenhower Ave. that is zoned for 7,500 square feet. The properties are located across the street from the National Science Foundation’s new 720,000-square-foot headquarters and the Eisenhower Avenue Station Metro within the 56-acre Hoffman Town Center.

September 14, 2015

Providence Plaza Charlotte Socastee Commons Myrtle Beach

Mixed-Use North Carolina South Carolina Southeast

Divaris Brokers Purchase of Two Properties in the Carolinas Totaling $34.9M

by John Nelson September 11, 2015

CHARLOTTE, N.C. AND MYRTLE BEACH, S.C. — Divaris Real Estate Inc. (DRE) has brokered the acquisition of two properties in the Carolinas totaling $34.9 million. DRE represented Armada Hoffler Properties, a publicly traded REIT, in its $26.2 million purchase of Providence Plaza in Charlotte and its $8.7 million purchase of Socastee Commons in Myrtle Beach. The properties were acquired as part of a 1031 exchange in separate transactions. Providence Plaza is a 103,118-square-foot mixed-use development that was built in 2007 and was 97 percent occupied at the time of sale. Socastee Commons is a 57,273-square-foot, Bi-LO-anchored shopping center that was fully leased at the time of sale. Alex Divaris and Jason Oliver of DRE brokered the Providence Plaza transaction, and Divaris and Sandy Cohen of DRE brokered the Socastee Commons deal. DRE has been retained to lease and manage both properties.

September 11, 2015

Mixed-Use Office Texas

Port San Antonio Begins $9M Road Extension

by Katie Sloan September 9, 2015

SAN ANTONIO — The City of San Antonio’s Transportation and Capital Improvements Department has begun demolition of several obsolete buildings totaling over 40,000 square feet at Port San Antonio, a redevelopment of the former Kelly Air Force base, to extend portions of 36th Street by an additional half mile toward the south. Upon completion in late 2016, the new road will intersect with General Hudnell Drive, providing the 1,900-acre property with additional road connections in support of growing logistics activity. The road will now end near the aircraft maintenance workshop facilities and Air Force headquarters operations where the majority of the Port’s 12,000 daily commuters work. The road extension will support the future development of industrial and mixed-use sites in the heart of the property.

September 9, 2015

Healthcare Loans Mixed-Use Multifamily New York Northeast Office Retail

Madison Realty Capital Provides $107.2M Acquisition Financing for 357,000 SF Portfolio

by Amy Works September 8, 2015

NEW YORK CITY — Madison Realty Capital has provided $107.2 million in first mortgage financing for the first phase of Fortis Property Group’s acquisition of the Long Island College Hospital (LICH) real estate portfolio in Brooklyn. Collateral for the loan is a mix of former LICH properties comprising 357,000 square feet of retail, medical office and residential space, as well development sites. The properties are located at 91-95 Pacific St., 350-352 Hicks St., 349 Henry St., 112 Pacific St., 82 Amity St., 84 Amity St., 124-134 Atlantic Ave., 113 Congress St., 336 Flatbush Ave. and 184 Sterling Place. Madison Realty provided Fortis with a flexible financing solution to facilitate the acquisition, which is the culmination of a complex, multi-party deal related to the LICH portfolio. David Harte of Ackman-Ziff represented Fortis in the transaction.

September 8, 2015

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