Mixed-Use

Victory Real Estate Group Acquires 18.5-Acre Mixed-Use Tract in Fort Worth

by Haisten Willis May 14, 2015

FORT WORTH, TEXAS — Victory Real Estate Group, a commercial development and investment firm based in Dallas, has acquired an 18.5-acre tract of land at the corner of Eastchase and I-30. Located in Fort Worth, Victory at Eastchase will be a mixed-use retail development featuring six-pad sites, which will include two hotels, one big box retailer and up to 50,000 square feet of additional retail space. Construction will begin in the near future on Victory at Eastchase with completion expected by the end of 2016.

May 14, 2015

Construction Begins on $75M Mixed-Use Project in Chicago

by Danielle Everson May 14, 2015

CHICAGO — Construction has begun on the $75 million Vue53, a mixed-use project that will serve the Hyde Park and Kenwood neighborhoods in Chicago. The development team, which includes Avison Young, Peak Campus Development and financial partner Blue Vista Capital Management, was awarded the assignment by the University of Chicago to develop, finance and manage the project. Vue53 is located near the intersection of 53rd Street and Kenwood Avenue, directly north of Nichols Park, and will include 28,000 square feet of ground-level retail, 267 apartment units and 225 parking spaces. The project is a collaborative effort by the University of Chicago, the City of Chicago and the Hyde Park community to create a mixed-use district and to broaden the scope of products and services available to the Hyde Park and Kenwood communities. The project will offer affordable housing units and is being developed without tax increment financing or other public subsidies. The residential component will include studio, one- and two-bedroom apartments. Vue53 is slated for completion in September 2016.

May 14, 2015

Georgia Mixed-Use Multifamily Retail Southeast

Fuqua Development, Worthing Cos. Break Ground on Mixed-Use Development in Atlanta Suburb

by John Nelson May 14, 2015

DULUTH, GA. — Atlanta-based Fuqua Development and The Worthing Cos. have begun construction on Sugarloaf Market, a 31-acre mixed-use development located at the intersection of Sugarloaf Parkway and Peachtree Industrial Boulevard in Duluth, an eastern suburb of Atlanta in Gwinnett County. Upon completion, Sugarloaf Market will feature 75,000 square feet of retail space and 330 upscale apartment residences. Fuqua Development is the master developer of the project and is developing the retail portion, and The Worthing Cos. is developing the residential component, named The Heights at Sugarloaf. Anchored by Sprouts Farmers Market, the retail portion of the development will be leased to Chipotle Mexican Grill, Freddy’s Frozen Custard & Steakburgers, Orangetheory Fitness, Menchie’s Frozen Yogurt, Zoe’s Kitchen, RaceTrac, Waffle House, Panda Express, Banfield Pet Hospital, Supercuts, Luxury Nail, Pie Five Pizza and AT&T. The retailers are expected to open for business in spring 2016. The Heights at Sugarloaf will offer apartment homes featuring high-end finishes, designer-inspired appointments and appliances, along with onsite amenities such as a resort-style swimming pool and deck with Wi-Fi, grilling areas, a fitness club and other lifestyle services. Preliminary site work is currently underway with vertical construction set to commence by July. Pieper O’Brien Herr Architects …

May 14, 2015

Florida Mixed-Use Office Retail Southeast

Prudential Real Estate Investors Purchases The Mercato in Naples

by John Nelson May 13, 2015

NAPLES, FLA. — Prudential Real Estate Investors (PREI) has purchased the office and retail portion of The Mercato, a 456,359-square-foot mixed-use development in Naples, on behalf of institutional investors. The terms of the transaction were not disclosed. Mercato’s retail portion is anchored by Whole Foods Market, Nordstrom Rack, a 12-screen Silverspot Theatre, The Capital Grille, McCormick & Schmick’s, Sur La Table and The Paper Source. The office portion is leased to tenants such as Wells Fargo, Bank of America, Merrill Lynch and regional law and financial service firms. PREI has retained Madison Marquette to manage and lease the office and retail portions of Mercato. Daniel Finkle, Manuel De Zárraga, Luis Castillo and Kim Flores of HFF marketed The Mercato on behalf of the seller, a partnership between Madison Marquette, Barron Collier Cos. and The Lutgert Cos. In late November 2013, GE Capital Real Estate provided a $145 million refinance for The Mercato.

May 13, 2015

Mixed-Use Retail Southeast Tennessee

Bass Pro Shops at the Pyramid in Downtown Memphis Celebrates Grand Opening

by John Nelson May 13, 2015

MEMPHIS, TENN. — Bass Pro Shops at the Pyramid, a new national destination experience located in downtown Memphis, is now open to the public. Located inside a massive transformed sports arena, the project includes a wilderness hotel called Big Cypress Lodge, nearly 600,000 gallons of water features, a cypress swamp with 100-foot-tall trees, the interactive Ducks Unlimited Waterfowling Heritage Center and The Lookout, a glass-floored cantilevering observation deck at the top of the steel Pyramid. Bass Pro Shops at the Pyramid represents the largest investment in size and scope that Bass Pro Shops has ever made outside of its national headquarters in Springfield, Mo., and includes a number of amenities and attractions including the first hotel located inside a Bass Pro Shops store. Standing 32 stories tall along the banks of the Mississippi River, the Pyramid is an icon of the Memphis skyline. First envisioned as a sports and entertainment venue, the complex opened in 1991 and hosted professional sports and concerts until it closed in 2004. After years of uncertainty about the Pyramid’s future, the city of Memphis invited Bass Pro Shops to establish an innovative retail destination that could revitalize the building. After four years of design and …

May 13, 2015

Mixed-Use Southeast Tennessee

Pollack Shores Announce Plans for Mixed-Use Property in Nashville’s Gulch Neighborhood

by John Nelson May 13, 2015

NASHVILLE, TENN. — Pollack Shores Real Estate Group has announced that its new mixed-use development in Nashville’s Gulch neighborhood will feature 376 upscale apartment units, 9,000 square feet of retail space and a parking garage. Pollack Shores recently closed on the purchase of the site, which spans an entire city block and contains the Gossett Building and several land parcels. The site is bordered by Church Street and 12th Avenue North. Pollack Shores plans to salvage and restore the vintage neon M.T. Gossett sign outside the building for future use in the development. The new development’s apartment units will be outfitted with quartz countertops, European cabinetry, plank flooring, under mount sinks and stainless steel appliances. Matrix Residential, Pollack Shores’ multifamily management division, will manage the asset upon completion. The first residential units are expected to be available beginning in spring 2018.

May 13, 2015

Mixed-Use Restaurant Retail Texas

Good Union Urban Barbeque to Open in CityLine Mixed-Use Development

by Haisten Willis May 12, 2015

RICHARDSON, TEXAS — KDC, a real estate development and investment firm, has announced that Good Union Urban Barbeque will open its first location at CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant will serve Texas barbeque. Meat will be smoked on an indoor fire pit equipped with ventilation to accommodate the building. There will be a patio facing the central plaza where guests can enjoy craft beers and premium cocktails from the full-service bar while listening to live music in the park. The 3,903-square-foot restaurant is scheduled to open in the fall of 2015. It will be located in the base of One CityLine at 1150 State St.

May 12, 2015

Alabama Mixed-Use Southeast

Retail Specialists Tops Out Mixed-Use Development in Montgomery

by John Nelson May 12, 2015

MONTGOMERY, ALA. — Birmingham-based Retail Specialists LLC has topped out 79C, its new mixed-use development located on Bibb Street between Commerce and Lee streets in downtown Montgomery. The development is located across from the Montgomery Convention Center. Upon completion, the development will feature 54 Class A multifamily units and 15,800 square feet of retail space on the ground floor. The retail space will house four to six retailers and Mellow Mushroom has already committed as a tenant. Golden Bell Capital and Iberia Bank provided construction financing for the development. The design team includes general contractor Brasfield & Gorrie, architect Live Design Group and engineer Goodwyn, Mills and Cawood. T.J. Wiliford of Partners Realty is handling the management and leasing for the multifamily portion of 79C, and David Plummer of Retail Specialists is handling the management and leasing responsibilities for the retail portion. The development team expects to deliver 79C in September 2015.

May 12, 2015

Mixed-Use Multifamily Texas

Morgan to Build Apartments Above New Midtown Whole Foods in Houston

by Haisten Willis May 11, 2015

HOUSTON — Morgan plans to start construction during the first quarter of 2016 on its latest Pearl luxury apartment project in Houston’s Midtown district. The eight-story complex will include apartments above a Whole Foods Market. The upcoming development is located in the 3100 block of Smith across the street from Morgan’s Pearl Midtown midrise that opened last summer. Ziegler Cooper is the project’s architect. The new apartment complex will feature 260 studios, one- and two-bedroom units. Amenities will include Bluetooth sound systems, a sky lounge, fitness center and pool. The Whole Foods Market store will be 40,000 square feet, with a second floor mezzanine for seating. Pearl will include components of Morgan’s LiveWell program, which focuses on providing a healthy and comfortable apartment lifestyle for residents of its Pearl branded projects.

May 11, 2015

Mixed-Use Retail Texas

Signorelli Co. Breaks Ground on Valley Ranch Town Center in The Woodlands

by Haisten Willis May 8, 2015

THE WOODLANDS, TEXAS — The Signorelli Co. has broken ground on Valley Ranch Town Center, a 240-acre retail district slated to open in early 2016 inside the 1,400-acre master-planned community of Valley Ranch. Valley Ranch is situated at the intersection of U.S. 59 and the Grand Parkway just north of Kingwood. A 135-acre park called The Grove will border the retail district. Other developments in Valley Ranch include construction of new homes in a variety of price ranges in the new Azalea District, along with several new parks and green spaces throughout the area. At completion, Valley Ranch will include 2,500 homes and townhomes and 1,000 multifamily residences. Valley Ranch Commerce District, a 70-acre corporate office park, and Valley Ranch Medical District, planned to include two acute-care hospitals and a medical village with shopping, dining and multi-family residential, are also slated for development in the future. Valley Ranch is located near Bush Intercontinental Airport, Houston’s Central Business District, The Galleria/Uptown, The Woodlands, and ExxonMobil’s new 385-acre campus in Spring.

May 8, 2015

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