Mixed-Use

Verrado Main Street Near Phoenix Sells for $13M

by Nellie Day April 21, 2015

PHOENIX – Verrado Main Street, a 66,085-square-foot, mixed-use property in the Phoenix submarket of Buckeye, has sold to HCCJ Family GP LLC for $13 million. The retail and office property contains two Class A office buildings, in addition to a retail component that features Bashas’ Grocery, CVS Pharmacy and a mix of smaller tenants. The sale also included two parcels of 6.8 acres that are zoned for future commercial and mixed-use development. The office space is fully leased. The retail space was more than 94 percent leased at the time of sale. The seller, DMB, was represented by CBRE’s Barry Gabel and Chris Marchildon.

April 21, 2015

California Mixed-Use Western

Mixed-Use Building in Berkeley Changes Hands

by Nellie Day April 20, 2015

BERKELEY, CALIF. – A 47,281-square-foot, mixed-use building in Berkeley has sold to an unnamed buyer for an undisclosed sum. The building is located at 2190 Shattuck Ave. It is anchored by a ground-floor Walgreens with creative offices on the second story that are occupied by technology-oriented tenants. The property is situated directly atop the Downtown Berkeley BART station. It is within one block of the University of California at Berkeley. The space was built in 1956 through 1957. It was renovated in 2012. The seller, a partnership between Sansome Pacific Properties and Somera Capital Management, was represented by HFF’s Nicholas Bicardo, Danny Reddin, Steve Golubchik and Brandon Rogoff.

April 20, 2015

Mixed-Use Texas

Kennedy Wilson Arranges Sale of 18.3-Acres in Metro Austin

by Haisten Willis April 17, 2015

AUSTIN, TEXAS — Kennedy Wilson represented the seller in the sale of 18.3 acres located at the corner of Old Farm to Market 2243 W. and North Bagdad Road in Leander. Ernest Brown of Kennedy Wilson represented the seller, Firstmark Credit Union. Bruce Nakfoor, a local real estate developer, was the buyer. The buyer plans to develop a mixed-use complex comprised primarily of retail and multifamily developments. A residential community surrounds the property.

April 17, 2015

Florida Mixed-Use Southeast

Axiom Capital Advisors Brokers $16.5M Sale of Mixed-Use Center in Coral Gables

by John Nelson April 16, 2015

CORAL GABLES, FLA. — Aventura, Fla.-based Axiom Capital Advisors has brokered the $16.5 million sale of Riviera Plaza, a 55,161-square-foot mixed-use development located at 1542 S. Dixie Highway in Coral Gables. Roberto Susi of Axiom Capital represented the buyer, Riviera Holdings Plaza LP, a partnership between Gadinsky Real Estate, Echion USA and 13th Floor Investments. The partnership purchased the asset in an off-market transaction. According to Susi, the new ownership is contemplating repositioning Riviera Plaza to include multifamily housing.

April 16, 2015

Mixed-Use New York Northeast

Affinity Health Plan, Fresenius Medical Care North America Leases Brings Metro Center Atrium to Full Occupancy

by Amy Works April 16, 2015

NEW YORK CITY — Simone Development Cos. has fully leased its new 370,000-square-foot mixed-use complex, Metro Center Atrium in the Bronx. Affinity Health Plan has leased 102,507 square feet at the property and 2,000 square feet of storage space on the Hutch Metro Center campus, and Fresenius Medical Care North America has leased 21,105 square feet at the complex. With these leases the 370,000-square-foot Metro Center Atrium is fully occupied. Retail and healthcare tenants include LA Fitness, Applebee’s, Dunkin Donuts, Children’s Corner, Montefiore Medical Center, Calvary Hospital, Hanger Prosthetics, Parkchester Oral & Maxillofacial Surgery and Ophthalmologist Dr. Eric Wolf. Situated within Simone Development’s Hutchinson Metro Center, Metro Center Atrium features three floors of Class A office and medical space, retail and restaurant space, and a Marriott hotel.

April 16, 2015

Mixed-Use New Jersey Northeast

Advance Realty Starts Vertical Construction of Willow14 in New Jersey

by Amy Works April 15, 2015

HOBOKEN, N.J. — Advance Realty has started vertical construction at Willow14, a mixed-use development in Hoboken. Located at the corner of 14th Street and Willow Avenue, the seven-story building will feature 140 apartments, 20,000 square feet of retail space and a four-story, below-grade parking garage. The project’s residential component will feature a mix of studio, one-, two- and three-bedroom units, an outdoor pool, landscaped pool deck, fitness center, outdoor terrace areas with barbecues, bike racks and on-site parking. Completion is slated for first quarter 2016.

April 15, 2015

District of Columbia Mixed-Use Southeast

First-Ever Crowdfunded Real Estate Project Opens in D.C.

by John Nelson April 14, 2015

WASHINGTON, D.C. — Fundrise has announced that the first-ever crowdfunded real estate project has opened in Washington, D.C.’s H Street Corridor. The project is known as Maketto, a communal food and retail market located at 1351 H St. N.E. The property will include a new restaurant from chef Erik Bruner-Yang of Toki Underground in D.C.; a DURKL retail store; gourmet coffee shop; bakery; and outdoor vendor stalls. Fundrise raised $325,000 from 175 individual, unaccredited investors who invested anywhere from $100 to $10,000 into the project. Maketto was not only Fundrise’s first offering when the platform launched in 2012, but the first real estate project in the country to allow investment from individuals online. Since its founding, Fundrise has activated more than 50,000 investors for real estate projects in top markets around the country, including landmark developments such as 3 World Trade Center in Manhattan. For a video on the Maketto project, click here.

April 14, 2015

Mixed-Use New York Northeast

Broadway 152 LLC Purchases 69,876 SF Mixed-Use Property in Manhattan for $27M

by Amy Works April 7, 2015

NEW YORK CITY — Institutional Property Advisors (IPA) has brokered the sale of a mixed-use property located at 3671 Broadway in Manhattan’s Hamilton Heights neighborhood. Broadway 152 LLC purchased the 69,876-square-foot property from G-Way Management LLC for $27 million, or $386 per square foot. Built in 1908, the six-story building features 48 residential units and six ground-level retail spaces. The apartments feature hardwood floors, stainless steel appliances, granite countertops, exposed brick walls and recessed lighting. Peter Von Der Ahe, Scott Edelstein, Joe Koicim, Seth Glasser and Rafi Moskowitz of IPA, a division of Marcus & Millichap, represented the seller in the transaction.

April 7, 2015

2201-2239-South-Clinton-Ave-South-Plainfield-NJ

Mixed-Use New Jersey Northeast

Marcus & Millichap Arranges $2.8M Sale of Mixed-Use Property in New Jersey

by Amy Works April 3, 2015

SOUTH PLAINFIELD, N.J. — Marcus & Millichap has arranged the sale of a mixed-use property located at 2201-2239 South Clinton Ave. in South Plainfield. The 27,225-square-foot retail property sold for $2.8 million. Built in 1981 and situated on two acres, the property features 22,325 of street-level retail and 4,900 square feet of second floor office space. At the time of sale, the property was 82 percent occupied by eleven tenants. Ben Sgambati, Alan Cafiero and Akiva Milgraum of Marcus & Millichap represented the seller, a developer, and the undisclosed buyer in the transaction.

April 3, 2015

Mixed-Use Restaurant Retail Texas

New Tenants Sign on at CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis March 31, 2015

RICHARDSON, TEXAS — Regency Centers has signed several new tenants that will open in 2016 at CityLine Market located in Richardson. Anchored by Whole Foods Market, the new tenant lineup at CityLine includes Taco Diner, Luna Grill, Modmarket, Pei Wei, Smashburger, 18|8 Fine Men’s Salon, Massage Envy Spa, CityLine Dental, The Joint Chiropractic and Luxx Lash’s beauty studio. CityLine Market will serve as the second-largest employment center in the Dallas/Fort Worth metro area with major employers including State Farm Insurance, Raytheon, AT&T, The University of Texas at Dallas, Blue Cross and Blue Shield of Texas, Verizon and Cisco Systems. The mixed-use development will join several million square feet of office space, an Aloft hotel, LOOK Cinema and nearly 4,000 new residential units. The project is located near the George Bush turnpike and within walking distance of the DART light rail stop.

March 31, 2015

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