Mixed-Use

RKF Arranges $32.3M Sale of Mixed-Use Building in SoHo

by Amy Works November 5, 2014

NEW YORK CITY — RKF has arranged the $32.3 million sale of 102 Green Street, a retail/residential property located in Manhattan’s SoHo district. SL Green purchased the property from BLDG Greene Street LLC. The acquisition includes the 9,200-square-foot building and 5,500 square feet of air rights for future commercial development. Galeria Melissa, a high-end designer shoe salon, currently occupies the 2,000-square-foot retail component within the property. The asset also features two residential units on the second and third floors. Jeff Fishman and Ross Berkowitz of RKF represented the seller and procured the buyer. Additionally, Fishman represented BLDG Green Street LCC in its purchase of the property for $11.9 million in June 2012.

November 5, 2014

Mixed-Use New York Northeast

TerraCRG Brokers $6.7M Sale of Brooklyn Commercial Loft Building

by Amy Works November 5, 2014

NEW YORK CITY — TerraCRG has brokered the sale a commercial loft building located at 46 Old Fulton St. in the Dumbo/Fulton Ferry district of Brooklyn. The four-story, 17,864-square-foot loft building sold for $6.7 million or $375 per square foot. The property has a total of 22,330 gross usable square feet and 42 feet of frontage on Old Fulton Street. The existing building is configured as nine commercial units with a full basement. The 3,466-square-foot retail space and the entire fourth floor was delivered vacant. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos, Michael Hernandez and Joey Terzi of TerraCRG represented both the buyer and seller in the transaction.

November 5, 2014

Midwest Mixed-Use Ohio Retail

Edge Real Estate Group Arranges Two Retail Leases at Oakley Station in Cincinnati

by Danielle Everson November 4, 2014

CINCINNATI — Edge Real Estate Group has arranged two retail leases at Oakley Station in Cincinnati. Bar Louie has signed a lease for 6,300 square feet of space and Pet Supplies Plus has signed a lease for 9,750 square feet of space. Bar Louie will be located on Vandercar Way at Factory Colony Way, and Pet Supplies Plus will be located adjacent to Kroger Marketplace. Michael Halonen and Melissa Ruther of Edge represented the landlord, USS Realty, in both lease transactions. Oakley Station is a 74-acre, mixed-use development. Cincinnati Milacron, a manufacturing complex, formerly occupied the center.

November 4, 2014

Loans Mixed-Use Multifamily New York Northeast

Mission Capital Secures $21M in Financing for Acquisition of 66 Pearl Street

by Amy Works November 3, 2014

NEW YORK CITY — Mission Capital Advisors’ Debt & Equity Finance Group has arranged $21 million in first mortgage financing on behalf of Northwind Group for the acquisition of 66 Pearl Street in New York City. Northwind Group is purchasing the six-story, mixed-use residential property located in New York City’s Financial District for $30 million. The 43,546-square-foot building features 42 residential units, with 6,485 square feet of ground-floor retail. Jonathan More, Ari Hirt, Steve Buchwald and David Behmoaras represented the sponsor, Northwind Group, in arranging the financing with Sterling National Bank.

November 3, 2014

Mixed-Use Multifamily New York Northeast

Ariel Property Advisors Brokers Sales of Two Upper Manhattan Properties

by Amy Works November 3, 2014

NEW YORK CITY — Ariel Property Advisors has brokered the sales of two properties located in Upper Manhattan totaling $7.2 million. In the first transaction, a private developer purchased a development site at 1516-1532 Park Avenue in East Harlem for $3.8 million. Zoning for the property permits approximately 28,730 buildable square feet as-of-right for a mixed-use development, and approximately 35,419 buildable square feet with a community facility. Michael Tortorici, Victor Sozio, Shimon Shkury and Marko Agbaba of Ariel represented the seller, a private investor, and procured the buyer in the deal. In the second transaction, a private real estate investment group sold 422 St. Nicholas Avenue in Central Harlem for $3.35 million to a private real estate investment group. The 11,105-square-foot building consists of 10 units with nine three-bedroom units and one two-bedroom unit. Sozio, Tortorici and Shkury represented both parties in the transaction.

November 3, 2014

Georgia Mixed-Use Southeast

$600M Avalon Opens for Business in Alpharetta

by John Nelson October 31, 2014

ALPHARETTA, GA. — Developer North American Properties (NAP), Alpharetta Mayor David Belle Isle and other dignitaries and business professionals officially opened Avalon for business yesterday morning. The $600 million development features single-family homes, chef-driven restaurants and national eateries, a Whole Foods Market, apparel retailers, a gym, 12-screen Regal theater, dog park and upscale apartment residences. Retail tenants include Arhaus, Banana Republic, Columbia, Everything But Water, J. Crew, lululemon athletica, Orvis, Pottery Barn Kids, Ted’s Montana Grill and West Elm. Phase II of Avalon, which has been approved for construction, includes 85,000 square feet of retail and restaurant space and is scheduled to open in fall 2016.

October 31, 2014

Mixed-Use Multifamily New York Northeast Retail

Marcus & Millichap Arranges $6.4M Sale of Mixed-Use Building

by Amy Works October 30, 2014

NEW YORK CITY — Marcus & Millichap has brokered the sale of 307 East 85th Street, a mixed-use building located in New York City. The 9,625-square-foot property sold for $6.4 million. Peter Von Der Ahe, Joseph Koicim, David Lloyd and Daniel Handweiler of Marcus & Millichap’s Manhattan office represented the seller, a private investor, and the buyer, a private investor, in the transaction. The five-story building offers 15 residential units and one commercial unit. The apartment mix includes four studio units, six one-bedroom units and five two-bedroom units.

October 30, 2014

Mixed-Use Top Stories

Brandywine Realty Trust, LCOR to Develop Mixed-Use Project at 1919 Market St. in Philadelphia

by John Nelson October 27, 2014

PHILADELPHIA — Brandywine Realty Trust (NYSE: BDN) has formed a 50/50 joint venture partnership with LCOR/CalSTRS for a mixed-use development located at 1919 Market St. in Philadelphia’s City Center neighborhood. The joint venture is planning a 29-story, 455,000-square-foot glass tower consisting of residential, retail and parking components. The project will be comprised of 321 luxury apartments with full concierge service and rooftop amenities that include a fitness center, club room with demonstration kitchen, outdoor roof garden with a fire pit and ledge pool and a game room including a golf simulator. The commercial space will consist of 24,000 square feet and is 90 percent pre-leased to Independence Blue Cross and CVS/pharmacy. A 215-car structured parking facility will support the development and also offer parking to the public. Brandywine has contributed the land parcel at 1919 Market St. and will manage the retail and parking components of the project. LCOR will oversee construction of the project and will be responsible for the marketing, leasing and management of the multifamily component. The project team includes architect Barton Partners and construction manager Hunter Roberts Construction Group. Construction will begin immediately with an expected spring 2016 delivery. “With LCOR’s experience developing transit-oriented communities, we …

October 27, 2014

Mixed-Use South Carolina Southeast

Centennial American Properties Partners with TCC for Greenville Mixed-Use Development

by John Nelson October 27, 2014

GREENVILLE, S.C. — Trammell Crow Co. (TCC) has named Greenville-based Centennial American Properties as its local partner in the redevelopment of the Greenville News building in downtown Greensville. The two companies will develop a mixed-use project that could possibly include an upscale hotel, retail and restaurant space, dine-in movie theater, office building, multifamily residences, public plazas and pedestrian walkways, a parking garage and other uses that would fit within the upscale nature of the project. TCC is under contract with Gannett Publishing to purchase the Greenville News building, which is located on Main Street. Jackson Hughes Jr. of Hughes Commercial Properties is handling retail leasing for the development, and CBRE is handling office leasing. Wakefield Beasley & Associates is designing the project.

October 27, 2014

Mixed-Use Southeast Tennessee

Ovation Mixed-Use Development Breaks Ground in Franklin’s Cool Springs Area

by John Nelson October 24, 2014

FRANKLIN, TENN. — Developers SouthStar LLC, Highwoods Properties and Bristol Development Group have broken ground on Ovation, a mixed-use development in Franklin’s Cool Springs market. The property will be located on a 145-acre site at the corner of McEwen Drive and Carothers Parkway. SouthStar will develop 500,000 square feet of retail space, 950 residential units and two hotels totaling roughly 450 rooms. Highwoods plans to develop up to 1.4 million square feet of office space, and Bristol Development plans to develop living spaces, including apartments and upscale million dollar estates. To date, more than $20 million has been invested in Ovation’s infrastructure. Construction on Ovation’s retail portion is slated to begin in the spring.

October 24, 2014

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