Mixed-Use

MARCUS & MILLICHAP SELLS 3,975 SF MIXED-USE BUILDING

by admin April 29, 2013

CHICAGO — Marcus & Millichap has arranged the sale of a 3,975-square-foot mixed-use property in Chicago. The list price for the property was $1.2 million. The building is located at 3439 North Halsted in the Lakeview neighborhood of Chicago and includes one retail unit occupied by Buck’s, a bar, and two floors of apartments. Stephen Rachman and Kyle Stengle of Marcus & Millichap represented the seller, an individual/personal trust, and the buyer, a private investor who plans to rebrand the bar. Recent capital improvements to the property include a new roof and windows, updated porches, some plumbing work, installation of circuit breakers and dry wall/fireproof basement walls.

April 29, 2013

HUFFINES BUYS 593 ACRES FOR MASTER-PLANNED COMMUNITY

by admin April 29, 2013

COLLINS COUNTY, TEXAS — Huffines Communities, a Dallas-based neighborhood and master-planned community developer, has purchased 593 acres of land in Collins County for a master-planned community called Parker Lakeside. The tract of land features four miles of frontage along the west side of Lake Lavon. Huffines purchased the land from the Hanover Group. The new site will offer approximately 1,400 lots for homes ranging from $260,000 to $1 million. Huffines will soon begin building streets, utilities, a club house with pools, trails and a grand monument entrance. The developer will also sell builders tracts of land ranging from 50 to 100 acres, as opposed to selling fully constructed home lots. The community will eventually house an elementary school, tennis courts, a fitness center, parks, hike/bike trails and commercial components. Road construction is slated to begin in 2014.

April 29, 2013

Mixed-Use Northeast

MARCUS & MILLICHAP ARRANGES SALE OF MIXED-USE BUILDING

by admin April 26, 2013

NEW YORK CITY — Marcus & Millichap has arranged the sale of 524 Lorimer Street, a six-unit mixed-use building located in Brooklyn, for $1.7 million. Shaun Riney and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a private investor and the buyer, a fund manager, in the transaction.

April 26, 2013

Mixed-Use Southeast

CARTER TO BUILD $40M MIXED-USE PROJECT

by admin April 25, 2013

DECATUR, GA. — Atlanta-based Carter plans to develop 315 West Ponce, a $40 million mixed-use project in Decatur. The five-story property will include 223 apartment units and 10,000 square feet of street-level retail. The project will target young professionals with a mix of one-, two- and three-bedroom units. Amenities will include a pool, clubhouse, fitness center and two outdoor courtyards. The development will also include a structured parking deck to be shared between the new retail and residential buildings. The Decatur Downtown Development Authority has approved the site plan for the project. The Preston Partnership is the project architect and Brasfield & Gorrie is the contractor. Construction is slated to begin later this summer.

April 25, 2013

Midwest Mixed-Use

HSA BREAKS GROUND ON $46M MIXED-USE DEVELOPMENT

by admin April 23, 2013

WAUWATOSA, WIS. — HSA Commercial joined Wauwatosa leaders on April 16 to celebrate the groundbreaking of Phase I of The Mayfair Collection, a $46 million mixed-use development in Wauwatosa, a western suburb of Milwaukee. Located at Highway 45 and Burleigh Street, the 270,000-square-foot shopping center will repurpose vacant warehouse buildings into a new, contemporary retail shopping center. Phase I of the project, which is slated for completion in summer 2014, will focus primarily on retail. Other phases will include the development of multifamily, office and medical properties. Nordstrom Rack, Dick’s Sporting Goods and Ulta Cosmetics have all signed leases for Phase I. Des Plaines, Ill.-based Premier Design + Build will serve as general contractor for the project, and Evanston, Ill.-based TOA Architects is responsible for the design.

April 23, 2013

Mixed-Use Texas

EPPERSON CO., SEWELL FAMILY OPENS 65-ACRE MIXED-USE DEVELOPMENT

by admin April 22, 2013

ODESSA, TEXAS — Epperson Co. and the Sewell Family of Cos. has opened Phase I of the 65-acre Parks Legado Town Center in Odessa. The mixed-use development's first phase includes a 120-room Residence Inn by Marriott, an Aim Bank branch and 27,000 square feet of restaurant and retail space. Tenants include The Egg and I, Cork and Pig Tavern, Kenzington's Kloset, Joe James Salon and Aveda Day Spa. Upcoming tenants in Phase I include Cavender's, Whitehouse Market and Jersey Mike's Subs. Phase II will include a Marriott Courtyard, Hilton Homewood Suites, Sewell Volkswagen, Sewell Ford-Lincoln, pad sites and 20,000 square feet of shop space.

April 22, 2013

Mixed-Use Southeast

MIXED-USE DEVELOPMENT IN NORTH CAROLINA NEARS FULL OCCUPANCY

by admin April 19, 2013

MORRISVILLE, N.C. — Grace Park, a mixed-use development in Morrisville, is nearing 100 percent occupancy. The center includes 128 apartments, 52 townhomes and 90,000 square feet of ground-floor and outparcel retail. The residences are 98 percent occupied and 90 percent of the retail space has been leased. Some of the new retail tenants include Trali Irish Pub, which leased 4,100 square feet; Health Station, which will occupy 1,500 square feet; Ladders Teaching Supply Store, which will occupy 1,500 square feet; and Mare, an Italian restaurant that recently leased 3,200 square feet. In addition, the Discovery Child Development Center will relocate and expand to a new 8,500-square-foot building on the remaining outparcel retail site by the end of 2013. Current retail tenants include Starbucks, 5 Hot Chilies, Edward Jones, Peppers Market and Pristine Auto Spa. The Kalikow Group and EYC Cos. developed the property.

April 19, 2013

Mixed-Use Texas

PHASE I OF LAKESIDE IN FLOWER MOUND TO BREAK GROUND

by admin April 18, 2013

FLOWER MOUND, TEXAS — Phase I of Lakeside, a mixed-use development located at FM 2499 and Lakeside Parkway in Flower Mound, is slated to break ground on April 24. The development will be located on the shores of Lake Grapevine. Phase I will include six buildings featuring 45,000 square feet of commercial space on the ground floors and 170 residential lofts on the upper floors. Phase I will also include 170 single-family homes by Darling Homes, American Legend Homes and Normandy Homes. Additionally, multifamily developer Greystar is planning to build urban-style residences in Phase I. Seven new parks are also planned. In all, Lakeside will span 150 acres and feature single-family and multifamily residences, lake-view restaurants, shops, cafes, hotels, a boardwalk and an amphitheater. Realty Capital Management is overseeing Lakeside's development.

April 18, 2013

Mixed-Use Texas

KPMG SIGNS LEASE AT HALL ARTS IN DALLAS ARTS DISTRICT

by admin April 18, 2013

DALLAS — KPMG LLP, a tax and advisory firm, has signed a long-term lease with Hall Financial Group to be the anchor tenant of the 16-story Hall Arts building. The 450,000-square-foot mixed-use building will be located at 2323 Ross Ave. in the Dallas Arts District. KPMG will be leasing more than one-third of the building. Construction on the Hall Arts building is scheduled to start in September and wrap up in March 2015. The new office will house 1,300 KPMG employees. Carl Ewert and Stephen Holley of Jones Lang LaSalle represented KPMG in the transaction. Hall Financial Group was self-represented by Kim Vincent Butler. The Hall Arts design team includes architect Eddie Abeyta of HKS Inc. and general contractor Turner Construction.

April 18, 2013

Mixed-Use Western

OFFICE, CONDO DEVELOPMENT SITE CHANGES HANDS IN SAN FRANCISCO

by admin April 17, 2013

SAN FRANCISCO — A fully entitled, Class A+ office and luxury condominium development site in Downtown San Francisco has sold to Jay Paul Company for an undisclosed sum. The .35-acre site is located at 181 Fremont Street in the city’s South Financial District. The proposed 54-story property will feature 684,000 square feet of luxury residential condominiums atop office space. It will target LEED-Gold certification. The seller, a joint venture between SKS Investments and an institutional investor, was represented by HFF’s Gerry Rohm, Michael Leggett, Holden Lim, Dave Karol and Mark Damiani.

April 17, 2013

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