Mixed-Use

Ellis Partners Buys The Pruneyard Mixed-Use Property in Campbell

by Nellie Day October 24, 2014

CAMPBELL, CALIF. – Ellis Partners has acquired The Pruneyard, a 27-acre, mixed-use property in Campbell. Though the sales price was not released, reports put it as high as $300 million. The Pruneyard contains more than 365,000 square feet of office space, more than 250,000 square feet of retail space and a 171-room Doubletree hotel. It is located at the intersection of Campbell and Bascom avenues in Silicon Valley. The property initially opened in 1969. An 18-story office tower was added in 1970, while a second made its debut in 1972. The hotel component, which was formerly known as the Pruneyard Inn, opened in 1989. It was renovated and expanded in 1998. Ellis plans to complete the hotel’s most recent renovation. Seller Equity Office Properties began those renovations in 2013 when the hotel was being converted into the Hilton DoubleTree. Notable retail tenants at The Pruneyard include Marshall’s, Sports Basement, Trader Joe’s and Camera Cinemas.

October 24, 2014

Mixed-Use Multifamily New York Northeast Retail

GHP Office Realty Brokers $4M Sale of Mixed-Use Property Sale in Yonkers

by Amy Works October 23, 2014

YONKERS, N.Y. — GHP Office Realty has arranged the sale of a three-story mixed-use building located at 1179 Yonkers Ave. in Yonkers. Juster Development purchased the property for $4 million or $200 per square foot. The building features 20 rent-regulated apartments and seven retail stores. Jamie Schwartz of GHP Office Realty represented the seller, a private New York City investor, in the deal. Gary Juster and Michael Juster, principals of Juster Development, served as in-house representation for the buyer. John Dunne of Lynn, Gartner, Dunn & Covello LLP provided legal counsel for the seller, while Steven Hirsch of Hirsch & Gibaldi LLP was counsel for the buyer.

October 23, 2014

Georgia Mixed-Use Southeast

Wood Partners Breaks Ground on $100M Mixed-Use Development in Midtown Atlanta

by John Nelson October 21, 2014

ATLANTA — Wood Partners has begun construction on 33 Peachtree Place, a $100 million mixed-use development on West Peachtree Street in Midtown Atlanta. The project will include a 21-story high-rise and mid-rise apartment building totaling 369 residential units (including five penthouse suites) and 20,000 square feet of ground-level retail space. The project will be Atlanta’s first multifamily property to utilize natural gas for heating, cooling, water and cooking. The property’s amenity offerings include a dog-friendly resident park, resort-style pool deck, club rooms, half-acre private park and courtyard space and more than 500 parking spaces. Prudential Real Estate Investors (PREI) was the seller of the site, a former parking lot for the 10 Peachtree Place building. PREI is also Wood Partners’ equity partner for 33 Peachtree Place. The general contractor, Balfour Beatty, expects to complete the project by the third quarter of 2016.

October 21, 2014

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated, Cresa New York Arrange $52.9M Sale of Mixed-Use Property

by Amy Works October 20, 2014

NEW YORK CITY — Eastern Consolidated and Cresa New York have arranged the $52.9 million sale of a residential and retail property located at 110-112 Greenwich St. in Lower Manhattan. Built in 1929 and last altered in 1998, the 66,530-square-foot property features 60 free-market apartments, corner retail space and 30,000 square feet of additional development rights. Peter Hauspurg, David Schechtman, Lipa Lieberman, Abie Kassin of Eastern Consolidated, along with Mark Jaccom and Elyse Schindler-Candella of Cresa New York, represented the buyer, Hersel Torkian of the BHT Corp., and the seller, 110 Greenwich Street Associates, in the transaction.

October 20, 2014

Mixed-Use Multifamily New Jersey Northeast Office Retail

LCOR Tops Out Phase I of New Jersey Mixed-Use Project

by Amy Works October 17, 2014

MONTCLAIR, N.J. — LCOR, along with co-developer The Pinnacle Cos., has topped out Phase I of Valley & Bloom, a mixed-use project in Montclair’s central business district. Located at 638 Bloomfield Ave., Valley & Bloom will be comprised of two buildings that will include a total of 258 residential apartments, ranging from studio to two-bedroom units; 20,000 square feet of office space; 22,000 square feet of retail space; and 571 parking spaces. Phase I is on track to be completed by the end of May 2015, with the second building following shortly after. Valley & Bloom is the first phase of the Montclair Center Gateway Redevelopment Plan. The Pinnacle Cos. recently received approval for Phase II, which will include The MC Hotel, part of Marriott International’s Autograph Collection. The MC Hotel is slated to begin construction in 2015.

October 17, 2014

Illinois Midwest Mixed-Use

Baum Realty Group Arranges $3.4M Sale of Mixed-Use Property in Chicago

by Danielle Everson October 17, 2014

CHICAGO — Baum Realty Group LLC has brokered the $3.4 million sale of a mixed-use property in Chicago’s Bucktown/Wicker Park neighborhood. The 8,368-square-foot building is located at 1747- 1749 N. Damen Ave. Greg Dietz, Danny Spitz and Adam Secher of Baum represented the buyer, Repak Real Estate Acquisition LLC. The seller was undisclosed.

October 17, 2014

Hospitality Mixed-Use Texas

Construction Begins on Hotel at Hughes Landing in The Woodlands

by Haisten Willis October 16, 2014

THE WOODLANDS, TEXAS — The Howard Hughes Corp. and The Woodlands Development Co. have begun construction on a 205-room, nine-story Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Hughes Landing is located on Lake Woodlands, 30 miles north of Houston. The project offers retailers, dining, entertainment, apartments and Class A office space. The 172,000-square-foot hotel is scheduled for completion in late 2015. Amenities will include 3,000 square feet of meeting and event space, a business center, bar, restaurant and a 4,000-square-foot rooftop pool deck overlooking Lake Woodlands.

October 16, 2014

Mixed-Use Restaurant Retail Texas

Trademark Acquires Land for Waterside Development in Fort Worth

by Haisten Willis October 15, 2014

FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.

October 15, 2014

Mixed-Use New York Northeast

TerraCRG Brokers Sale of Three-Building Mixed-Use Portfolio for $4.75M

by Amy Works October 14, 2014

NEW YORK CITY — TerraCRG has brokered the sale of a three-building mixed-use portfolio in Brooklyn’s Prospect Lefferts Gardens neighborhood. The buildings sold for $4.75 million or $284 per square foot. Located at 608-612 Flatbush Ave., the 16,749-square-foot portfolio offers 21 residential units and three commercial spaces. Adam Hess, Sam Shalumov, Chris Pechlivanides and Edward Setton of TerraCRG handled the transaction.

October 14, 2014

Midwest Missouri Mixed-Use Office

Gailoyd Enterprises Group Sells The Power & Light Building  to NorthPoint

by Danielle Everson October 8, 2014

KANSAS CITY, MO. — Gailoyd Enterprises Group has sold The Power & Light Building to NorthPoint Development for an undisclosed sales price. The historic office tower, located at 106 W. 14th St. in downtown Kansas City, will be converted to a mixed-use development with 200 apartments. The sale included the 285,000-square-foot building and approximately one acre of adjacent land on the north side of the building. The land will be utilized for parking and 70 new apartment units for a total of 270 new units. The building currently is vacant. Riverside, Mo.-based NorthPoint plans to begin construction immediately. Gib Kerr of Cassidy Turley represented Carmel, N.Y.-based Gailoyd Enterprises in the transaction.

October 8, 2014

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