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.
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.
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.
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.
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.
PHILADELPHIA — Philadelphia-based D3 Real Estate Development, in a partnership with Baltimore-based Seawall Development Co., held a groundbreaking ceremony for the $35 million Oxford Mills – The Center for Educational Excellence today. Oxford Mills is a 160,000-square-foot, mixed-use redevelopment designed specifically to support Philadelphia’s education community. The project will convert a historically certified factory complex bordering both the Northern Liberties and Fishtown neighborhoods into a modern educational hub. Oxford Mills will include 114 one- and two-bedroom apartments, complimentary shared resource/copy centers, fitness center and free on-siteparking. The residences will be available for occupancy in summer 2014. Theproject also features 40,000 square feet of office space created to supporteducational nonprofits and is anchored by Teach for America’s regional headquarters. The commercial space will be available for occupancy beginning April 2014.
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.
PROVIDENCE, R.I. — EagleBridge Capital has arranged a $2.4 million loan for the construction and mortgage financing of 70 Ken-West, located at 70 Kennedy Plaza in downtown Providence. 70 Ken-West is a recently renovated six-story retail and multifamily building. CVS/pharmacy leases the ground floor and basement. The upper five stories of the property will include 17 apartments, 10 of which are completed. Ted Sidel and Brian Sheehan of EagleBridge arranged the mortgage financing. A Massachusetts-based financial institution provided the loan.
NEW YORK CITY — Investor Ira Lifshutz has acquired a 4,422-square-foot mixed-use loft building at 57 Grand St., located between West Broadway and Wooster Street, for $4.7 million, or $1,063 per square foot. The four-story building includes the ground-floor bar Toad Hall, which has been at the building for more than 20 years. The seller had owned the building for more than 30 years. Robert Burton of Massey Knakal handled the transaction.
CHARLOTTE, N.C. — Crescent Communities has broken ground on the $33.6 million Alexander Village, a 63-acre mixed-use development in Charlotte's University Research Park. Phase I will include the construction of Crescent Alexander Village, a 320-unit apartment community on Senator Royall Drive, just south of Mallard Creek Church Road. Plans for Alexander Village also include a hotel, up to 75,000 square feet of retail and 250,000 square feet of office. Crescent expects to begin preleasing the apartments this fall and have the first units available for occupancy in early 2014.