Mixed-Use

State of Play, Brookfield Properties to Open 8,546 SF Flight Club Darts Entertainment Venue in D.C.

by John Nelson December 11, 2023

WASHINGTON, D.C. — “Eatertainment” operator State of Play plans to open an 8,546-square-foot Flight Club darts venue in Washington, D.C. Scheduled to open summer 2024 and marking the 13th location for the brand, Flight Club D.C. will be situated at 641 New York Ave. NW within 655 New York, a 756,000-square-foot mixed-use development by Brookfield Properties. Other tenants at 655 New York, which features 79,000 square feet of retail space, include Rumi’s Kitchen, Capital Burger, Pearl’s Bagels, Kinship, Metier and Compass Coffee.

December 11, 2023

Development Hospitality Mixed-Use North Carolina Southeast

NexPoint, Alamo Manhattan to Develop 250-Room Hotel in North Carolina’s Research Triangle Park

by John Nelson December 8, 2023

RESEARCH TRIANGLE PARK, N.C. — An affiliate of NexPoint Advisors has acquired land within Research Triangle Park (RTP) for the development of a 250-room Marriott Renaissance-branded hotel. The buyer has partnered with Dallas-based developer Alamo Manhattan to deliver the project, which will be situated at 4175 Sancar Way within Hub RTP, a $1.5 billion mixed-use development serving as RTP’s downtown. Construction is scheduled to begin next summer. Dubbed Renaissance RTP, the property will feature a full-service restaurant and bar, as well as 13,000 square feet of meeting space. Upon full build-out, Hub RTP will comprise up to 1 million square feet of office and life sciences lab space, 38,000 square feet of retail space and 1,200 multifamily units, in addition to the hotel.

December 8, 2023

Development Loans Mixed-Use Texas

Joint Venture Underway on 1 MSF Mixed-Use Project in Dallas

by Taylor Williams December 8, 2023

DALLAS — A joint venture that includes MSD Partners and Trammell Crow Co. is underway on a 1 million-square-foot mixed-use project in the Knox Street area of Dallas. The site spans four acres and is adjacent to the Katy Trail. Plans call for a 140-room hotel with 48 for-sale residences, 150,000 square feet of office space that will be anchored by ISN Software Corp., 100,000 square feet of retail and restaurant space, a 173-unit apartment building and a half-acre park. Plano-based Beal Bank provided $619.5 million in construction financing for the project, which is slated for a 2026 completion. Highland Park Village Associates is leasing the retail and restaurant space, and CBRE is marketing the remainder of the office space for lease. Balfour Beatty and Andres Construction are the general contractors. JLL arranged the construction debt.

December 8, 2023

Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

Eight Retailers Join 2.2 MSF River Landing Shops & Residences Development in Miami

by John Nelson December 6, 2023

MIAMI — Eight new retail tenants have signed leases totaling 15,000 square feet at River Landing Shops & Residences, a mixed-use development spanning 2.2 million square feet in Miami. Located at 1400 N.W. North River Drive, River Landing comprises approximately 360,000 square feet of retail/commercial space, 135,000 square feet of Class A offices, 528 market-rate apartments, more than 2,000 parking spaces and a landscaped riverwalk. Claire’s has opened an 870-square-foot store, and Ceci Spa Hair and Nails and Divine Lash have both opened in 1,030-square-foot spaces. Additionally, Miami Optical, Suite Svn, Anything is Everything and White Coat Beauty now occupy 1,200; 5,805; 2,000; and 1,078 square feet, respectively. Carrot Express has also signed a 2,012-square-foot lease at the property. Urban-X Group is the developer and landlord of River Landing, which opened in 2020. Retail space at the development is currently 94 percent leased, with other tenants including Publix, Pet Supermarket, Old Navy, Ulta Beauty, Planet Fitness, Five Below, Ross Dress for Less, Chick-fil-A and Hobby Lobby.

December 6, 2023

Acquisitions Connecticut Mixed-Use Northeast

O,R&L Commercial Arranges $7M Sale of Mixed-Use Property in New Haven, Connecticut

by Taylor Williams December 4, 2023

NEW HAVEN, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $7 million sale of York Square Broadway, a 30,262-square-foot mixed-use property in New Haven. The property consists of two buildings that were originally constructed in the early 1900s and house four one-bedroom apartments, 7,300 square feet of recently vacated office space and retail space. Tenants at the property include Campus Customs, which provides Yale-themed apparel and gifts, Mediterranean restaurant Broadway Kitchen, Blue Jay Cleaners and cosmetics chain Blue Mercury. Frank Hird of O,R,&L represented the seller and procured Yale University as the buyer.

December 4, 2023

Development Mixed-Use Texas

Presidium to Undertake 28-Acre Mixed-Use Redevelopment Project in McKinney, Texas

by Taylor Williams December 1, 2023

MCKINNEY, TEXAS — Texas-based developer Presidium will undertake a redevelopment project in McKinney, a northern suburb of Dallas, that will convert the 28-acre site of a former cotton mill and textile manufacturing facility that was built in 1910 into a mixed-unit development. Plans for Presidium Cotton Mill include approximately 1,200 multifamily units that will be housed across four buildings ranging in height from five to seven stories. The project will also feature 200,000 square feet of office space, as well as retail and restaurant space, open green space and a boutique hotel. Residential amenities will include pools, outdoor grilling and dining stations, fitness centers, coworking spaces, game rooms and lounge areas. The development team is aiming to break ground in mid-2024 and expects the entire project to take about six years to fully complete.

December 1, 2023

Development Florida Mixed-Use Southeast

Lionheart Capital, Leviathan and Well Duo to Develop 56,500 SF Mixed-Use Project in Miami

by John Nelson December 1, 2023

MIAMI — Lionheart Capital, Leviathan Development and Well Duo will develop a new mixed-use project in Miami. Dubbed MIRAI Design District, the development is designed by Kengo Kuma and Associates (KKAA), marking the first mixed-use project in the country for the architectural firm. Upon completion, the property will comprise 15,500 square feet of ground-floor retail space across 17 units, with roughly 41,000 square feet of office space on the second and third floors. Construction is scheduled to begin in summer 2024, with completion anticipated by the end of 2025.

December 1, 2023

Development Mixed-Use Multifamily Retail Utah Western

Bridge Investment, Lowe Property Group Receive $157.5M Refinancing for Post District Mixed-Use Project in Salt Lake City

by Amy Works November 30, 2023

SALT LAKE CITY — Bridge Investment Group and Lowe Property Group have received $157.5 million in loan proceeds to refinance Post District, a mixed-use complex in downtown Salt Lake City. Part of a three-phase project, Post District features 580 residential units across four buildings with approximately 26,000 rentable square feet of retail space. Sean Reimer, Mo Beler, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland and William Herring of Walker & Dunlop co-originated the loan with Affinius Capital and Clarion Partners. The borrowers will use the loan proceeds to repay existing debt, fund future costs to complete the construction and repatriate equity to the client as the project continues the lease-up of its newly delivered units.

November 30, 2023

Development Georgia Mixed-Use Southeast

North American Properties to Add Entertainment Elements to 2.4 MSF Avalon Project in Metro Atlanta

by John Nelson November 30, 2023

ALPHARETTA, GA. — North American Properties (NAP) has announced plans for the addition of new entertainment elements at Avalon, a 2.4 million-square-foot mixed-use development located in the Atlanta suburb of Alpharetta. Construction is scheduled to begin in January 2024 and will include the addition of a raised, covered performance stage and an LED screen. The features will comprise 576 and 180 square feet, respectively. Avalon comprises 500,000 square feet of retail space, in addition to a hotel and office and residential space. NAP developed the project in 2012 and manages the property on behalf of PGIM, which acquired the development in 2016 for $500 million.

November 30, 2023

Development Florida Mixed-Use Multifamily Retail Southeast

Urban Network Capital, Vertical Development Break Ground on $170M Mixed-Use Residential Project in Metro Orlando

by John Nelson November 28, 2023

DAVENPORT, FLA. — Urban Network Capital Group and Vertical Developments have broken ground on Visions Resort & Spa, a $170 million mixed-use development located at 7007 Osceola Park Line Road in Davenport, a suburb of Orlando. The property will comprise 48 single-family homes, 132 multi-level townhomes, a 180-unit condo/hotel and 70,000 square feet of retail and restaurant space. Starting sales prices range from $229,000 for condo-hotel units to $879,000 for single-family homes, according to the co-developers. The townhomes are completely presold and the single-family and condo-hotel units are 85 percent presold. Visions Resort will include a 12,000-square-foot clubhouse and an amenity package comprising a pool with cabanas with a wet bar for poolside refreshments, sports courts, a meditation garden, Pilates/yoga center, a gym facility and an outdoor cross-training gym. First residential units at Visions Resort are expected to deliver in first-quarter 2025.

November 28, 2023

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