Mixed-Use

PRG | Commercial Arranges $2.4M Sale of Mixed-Use Property in Metro Louisville

by John Nelson July 13, 2015

ST. MATTHEWS, KY. — PRG Commercial Property Advisors has arranged the $2.4 million sale of The Colony Center, a mixed-use, multi-tenant property located at 211 Clover Lane in metro Louisville. The boutique lifestyle center is located in the heart of St. Matthews, a suburb of Louisville in Jefferson County. The former lumber mill and yard sits on two acres and was converted into 22,995 square feet of leasable retail and restaurant space in 1984. The purchaser is a Louisville-based investment partnership. Dave Kern and Reed Weinberg of PRG represented both the buyer and seller in the transaction.

July 13, 2015

Mixed-Use Multifamily Northeast Office Pennsylvania Retail

City Center Selects Gensler to Plan, Design Mixed-Use Complex in Allentown

by Amy Works July 10, 2015

ALLENTOWN, PA. — City Center Lehigh Valley has selected Gensler to plan and design its Five City Center complex, a mixed-use complex spanning one block in downtown Allentown. The $100 million project’s master plan includes a 400,000-square-foot office and retail tower, a 335,000-square-foot residential tower with 175 apartment units, parking and a park. The project is scheduled for completion in 2018.

July 10, 2015

California Loans Mixed-Use Western

Parkview Financial Funds $10.7M Construction Loan for Mixed-Use Project

by Nellie Day July 10, 2015

SANTA CLARA, CALIF. — Parkview Financial has funded a $10.7 million construction loan for a mixed-use project located in Santa Clara. The new project will feature more than 6,500 square feet of retail space and 28 condominiums. The sponsor is an experienced developer, which began purchasing the development parcels for the project in 2012. Paul Rahimian of Parkview Financial arranged the financing.

July 10, 2015

Illinois Midwest Mixed-Use Multifamily Retail

Marcus & Millichap Arranges Sale of 9,050 SF Mixed-Use Property in Chicago

by Amy Works July 1, 2015

CHICAGO — Marcus & Millichap has arranged the sale of a mixed-use property located at 1606 N. Harding Ave. in Chicago. The 9,050-square-foot property sold for $830,000. The property consists of six two-bedroom and three one-bedroom apartment units, and two commercial spaces. Joseph Bergman and Kyle Stengle of Marcus & Millichap’s Chicago represented the seller, a private investor, in the transaction.

July 1, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Secures $65M for Planned Mixed-Use Rental Project in Brooklyn

by Amy Works July 1, 2015

NEW YORK CITY — Eastern Consolidated has secured $65 million in debt and equity for a planned mixed-use rental project at 1 Flatbush Ave. in downtown Brooklyn. Developed by Slate Property Group, the 19-story, 172,000-square-foot property will feature 156 one- and two-bedroom rental units, of which 124 will be free market and the remainder will be affordable, and 30,000 square feet of basement, ground- and second-level retail space, as well as a fitness center for residents. Adam Hakim and Sam Zabala of Eastern Consolidated’s Capital Advisory Division arranged the financing for the acquisition and pre-development phases of the project.

July 1, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Arranges $6.6M Sale of Mixed-Use Building in Manhattan

by Amy Works June 29, 2015

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 309 Amsterdam Ave. in Manhattan’s Upper West Side. The four-story property sold for $6.6 million, or $1,630 per square foot. The 4,800-square-foot property features a 1,200-square-foot retail space and three one-bedroom apartments. The property was delivered vacant. The undisclosed buyer plans to reposition the property for rental. Paul Smadbeck and Robert Stufano of Cushman & Wakefield represented the undisclosed seller in the transaction.

June 29, 2015

Georgia Mixed-Use Southeast

Fort McPherson Board OKs 330-Acre Land Sale to Tyler Perry for $30M

by John Nelson June 29, 2015

ATLANTA — The McPherson Implementing Local Redevelopment Authority (MILRA) board has approved a land sale of 330-acres at the former Fort McPherson in southwest Atlanta to media mogul Tyler Perry. MILRA is a civilian authority board tasked with overseeing the redevelopment of the former army post. As part of the agreement, MILRA will purchase the 488-acre former army base for $26 million and subsequently sell 330 acres to Tyler Perry for $30 million for a movie/TV studio. MILRA plans to add a mixed-use development, anchored by the new studio. MILRA is collaborating with the state and city governments, as well as Urban Land Institute (ULI) to determine market needs going forward.

June 29, 2015

Mixed-Use Multifamily New York Northeast Retail

Silvershore Properties Acquires Mixed-Use Property on NYC’s Lower East Side

by Amy Works June 26, 2015

NEW YORK CITY — Silvershore Properties has acquired a mixed-use property, located at 149 Rivington St. in New York City’s Lower East Side, for $2.8 million. The buyer plans to redevelop the four-story, walk-up building into a larger property with additional residential and retail units by adding two floors to create two duplex apartments and build out the two retail floors on the lower level. No brokers were involved in the transaction. The name of the seller was not disclosed.

June 26, 2015

Industrial Loans Mixed-Use Retail Texas

Q10 KDH Arranges $2.8M Loan for Mixed-Use Center in Houston

by Haisten Willis June 25, 2015

HOUSTON — Q10 KDH vice president Larry Peters has arranged $2.8 million in permanent financing for a mixed-use center in Houston through correspondent insurance company lender Symetra. Built in 1974 and located in north Houston, the mixed-use center offers 56,206 square feet of space divided into 75 percent retail use and 25 percent warehouse space.

June 25, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

Argent Ventures Receives Site Plan Approval for Apartment Project in Jersey City

by Amy Works June 25, 2015

JERSEY CITY, N.J. — Argent Ventures has received site plan approval for Baldwin Place, a mixed-use redevelopment in Jersey City’s Journal Square neighborhood. Plans for the redevelopment include 980 market-rate rental apartments in four buildings: two seven-story buildings that are part of the first phase and two 25-story buildings that are part of the second phase. When completed, the project will offer obstructed view corridors, rooftop pools, 36,447 square feet of ground-floor retail, a 502-car parking garage and bike storage locations. The property is within walking distance of the Journal Square PATH station and bus depot. Purchased by Argent Ventures in 2012, the site currently houses five commercial buildings originally belongings to C.F. Mueller Pasta Co. Argent Ventures plans to fully demolish the dilapidated structures in advance of the first phase of construction of the redevelopment. Genova Burns LLC is representing developer, Argent Ventures, and serving as counsel on the project.

June 25, 2015

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