ST. LOUIS – HOK has completed the acquisition of Kansas City-based 360 Architecture, a 200-person firm that designs sports, recreation, wellness, entertainment and mixed-use facilities. HOK’s Sports + Recreation + Entertainment practice designs mixed-use entertainment districts anchored by sporting venues that promote urban revitalization. Teams from both firms have been working on integration plans since announcing the agreement on Aug. 19, 2014. HOK’s re-entry into the Sports + Recreation + Entertainment market in 2015 coincides with the celebration of its 60th anniversary. After HOK Sport launched in 1983, the firm became a pioneer in redefining sports facilities. HOK spun off its sports practice in 2008. 360 Architecture was founded in Kansas City in 2004 through a merger of CDFM2 Architecture Inc. and Heinlein Schrock Stearns.
BOSTON — The Pebbles Corp. has been selected to develop its first project in Boston. The firm was selected by MassDot and Massachusetts Bay Transportation Authority (MBTA) to develop a mixed-use project at Turnpike Air Rights Parcel 13, located at the intersection of Boylston Street and Massachusetts Avenue in Boston’s Back Bay neighborhood. Along with Handel Architects and Utile Inc., a Boston-based think tank, Pebbles has proposed The Viola Back Bay, a $330 million, 390,000-square-foot mixed-use development for the site. The proposed plans include a 156-key boutique hotel, 88 condominiums with unobstructed views of the Charles River, 85 residential apartments, 20,000 square feet of retail and 138 on-site parking spaces. The transit-oriented property will be accessible by Hynes Station and offer ground-floor access via a new entrance on Boylston Avenue. HDR Inc., an architecture and engineering firm specializing in transit projects, will serve as station designer for the project. Parcel 13 encompasses approximately 54,500 square feet of air rights over the Massachusetts Turnpike and portions of the MBTA Green Line tunnel across the street the from Hynes Convention Center. Construction is expected to commence in 24 to 36 months pending the approval process.
KEANSBURG, N.J. — NAI James E. Hanson has facilitated the sale of a mixed-use property in Keansburg. Father and Sons Building and Remodeling purchased the building, which is located at 19-21 Carr Ave., for an undisclosed price. The 14,000-square-foot building is well suited to be repurposed into a residential property. John Schilp and Joan Cenicola of NAI Hanson represented the undisclosed seller in the transaction.
NEW YORK CITY — TerraCRG has closed the sale of a mixed-use building located at 994 Atlantic Ave. on the border of Crown Heights and Clinton Hill in Brooklyn. The 3,200-square-foot property sold for $1.2 million, or $359 per square feet with a 5.52 percent cap rate. The property features two two-bedroom apartments and ground-floor retail space. The building is zoned M1-1, which means it is overbuilt by 1,600 square feet and is grandfathered in for mixed use. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG negotiated the transaction.
CYPRESS, TEXAS — Construction has begun on a mixed-use development located in Cypress known as The Boardwalk. The Caldwell Cos. is developing the property, which will sit at the front of the company’s master-planned community of Towne Lake. The development is centered around what will be the largest private lake in the region. When completed, The Boardwalk will feature waterfront dining, 61,000 square feet of retail and 57,500 square feet of office space accessible by both land and water. The development is set to open in the fourth quarter of 2015. In addition to office, shops and restaurants, The Boardwalk consists of five freestanding buildings, a central green area for concerts and events, a breezeway plaza and a boulder play area for kids. The project is located off of Highway 290 and Barker Cypress Road.
WAYZATA, MINN. — NorthMarq Capital has arranged the $18.4 million refinancing of Marquee Place, a 72,000-square-foot retail/office property Wayzata, a suburb 11 miles west of Minneapolis. The property is located at 641-681 Lake St. E. The mixed-use property features unobstructed lake views. The 12-year loan incudes a 25-year amortization schedule. NorthMarq arranged financing for the undisclosed borrower through its correspondent relationship with a life insurance company.
GAITHERSBURG, MD. — Retail Properties of America Inc. (RPAI) has purchased the retail portion of Downtown Crown, a Class A, mixed-use development in Gaithersburg, a suburb of Washington, D.C. RPAI purchased the 258,000 square feet of retail space from The JBG Cos. and JBGR Retail for $162.8 million. The retail component includes a Harris Teeter-anchored neighborhood center and a lifestyle center housing tenants such as Coastal Flats, Ted’s Montana Grill, Old Town Pour House and Ruth’s Chris Steakhouse. The retail portion of Downtown Crown opened in phases beginning in the fourth quarter of 2013 and is currently 77.5 percent leased.
JERSEY CITY, N.J. — Kushner Cos. and The KABR Group have acquired a development site at One Journal Square in Jersey City for $27 million. Located at the intersection of Sip Avenue and John F. Kennedy Boulevard, the two-acre development site is entitled for mixed-use development, including approximately 1,500 multifamily units and a large retail component with ample parking. The companies plan to work with the city to develop a project that will help revitalize Jersey City’s Journal Square neighborhood. Currently, Kushner Cos. and The KABR Group are developing Trump Bay Street, a 50-story residential tower located at 65 Bay St. in Jersey City’s Powerhouse District.
BROKEN ARROW, OKLA. — The Signorelli Co. has sold a 12.2-acre site for a mixed-use development known as The Shops at Aspen Creek to Griffin Properties of Fort Smith, Ark. The Shops at Aspen Creek is planned to include more than 1 million square feet of shopping, dining and entertainment options. The site is located 12 minutes from downtown Tulsa in Broken Arrow. Construction of the 277-unit apartment complex, named The Reserve at Aspen Creek, is planned to begin in June, with the opening anticipated in mid-2016. Situated at the east end of The Shops at Aspen Creek, with entrances from West Tucson Street and West Aspen Creek Drive, the complex will be three stories tall. Trinity Multifamily, the operating partner of Griffin Properties, will manage the apartments. The entertainment anchor at The Shops at Aspen Creek includes the Warren Theatre, a new 18-screen movie theatre boasting a screen 100 feet wide and 50 feet tall. The theatre opened in December.
NORTH HAVEN, CONN. — Press/Cuozzo Realtors has brokered the $1.5 million sale of a development site located in North Haven. Located at 505 and 511 Washington Ave., the two contiguous parcels total 3.78 acres with 341 feet of frontage. The buyer, 511 Washington Avenue LLC, plans to reposition the site as a mixed-use development. Stephen Press of Press/Cuozzo Realtors represented the seller, Bryant Munson, and the buyer in the deal.