Mixed-Use

HFF SECURES $100M FINANCING FOR THE SHOPS AT PARK LANE

by admin November 21, 2012

DALLAS — HFF has arranged a $100 million, long-term loan for a portion of The Shops at Park Lane, a 1.2 million-square-foot mixed-use development in Dallas. The property consists of 600,000 square feet of retail, 340,000 square feet of office space and the 325-unit The Heights at Park Lane. Retail tenants include Whole Foods, Dick's Sporting Goods, Nordstrom Rack, Saks Off Fifth, Bloomingdale's — The Outlet Store, HomeGoods, Old Navy, Gordon Biersch and Grimaldi's Pizza. Office tenants include Kosmos Energy and the Art Institute of Dallas. Travis Anderson and Jim Curtin of HFF secured the loan through ING Investment Management on behalf of the borrower, Northwood Investors.

November 21, 2012

MIAMI MIXED-USE SITE SELLS FOR $18.5M

by admin November 20, 2012

MIAMI — A 1.29-acre mixed-use development site at intersection of Coral Way and South Miami Avenue in Miami has traded for $18.5 million. South Miami Ave LLC sold the site, which is approved for the development of a 556-unit residential tower, 15,049 square feet of retail space and 38,357 square feet of office space, to Related Group. The site is close to the Mary Brickell Village and Brickell Citi Centre projects as well as I-95 in Miami’s Brickell Financial District. Manny de Zarraga and Jaret Turkell of HFF represented South Miami Ave LLC.

November 20, 2012

Mixed-Use Northeast

BOSTON DEVELOPER ACQUIRES HISTORIC SIBLEY BUILDING

by admin November 20, 2012

ROCHESTER, N.Y. — A Boston-based developer has completed its purchase of the Sibley Building, a 1 million-square-foot mixed-use building in Rochester. Sibley Redevelopment Limited Partnership, an affiliate of Winn Development, plans to spend up to $150 million to renovate the historic building into housing, retail, educational and office space. Genesee Regional Bank provided the acquisition and renovation financing. The current anchor tenant is Monroe Community Colllege, which leases 218,000 square feet of the building for its downtown campus. The property, located at 228 Main. St., is 30 percent leased.

November 20, 2012

Mixed-Use Southeast

CBRE ARRANGES $21.3M FOR REDEVELOPMENT OF THE WONDER BREAD BUILDING

by admin November 19, 2012

WASHINGTON, D.C. — CBRE Capital Markets has arranged a $21.3 million construction loan for the redevelopment of The Wonder Bread Building at 641 S Street in Washington, D.C. The seven-year loan was arranged on behalf of Washington, D.C.-based Douglas Development Corp. The redeveloped building, formerly a Wonder Bread distribution warehouse for Hostess, will contain approximately 82,000 square feet of office and retail space. The project is an adaptive reuse of the industrial property.

November 19, 2012

Mixed-Use Texas

HILLWOOD BREAKS GROUND ON HARVEST

by admin November 19, 2012

NORTHLAKE AND ARGYLE — Hillwood Communities, in partnership with Realty Capital, has begun construction on Harvest, a 1,000-acre, mixed-use master-planned community located in Northlake and Argyle. The community is being developed with an urban agrarian focus. To celebrate the groundbreaking, Ross Perot, Sr. drove a truck that moved the historical Fraught House, which sat on the property for 130 years. The house will be repositioned into a community center and gathering area. Phase I of the development includes 323 single-family homes built near the 12-acre Harvest Lake, community pools, hike/bike trails, amphitheater, community farm, community center, playgrounds, parks, an event center and practice fields. Upon completion, Harvest will include 3,000 single-family homes, commercial properties, an elementary school and a middle school.

November 19, 2012

Mixed-Use Northeast

CROWN HEIGHTS BUILDING SELLS FOR $3.2M

by admin November 15, 2012

NEW YORK CITY — GFI Realty Services has arranged the $3.2 million sale of 701 St. Marks Avenue, a 19,500-square-foot mixed-use property in Brooklyn. The property, located in Crown Heights, consists of 23 apartments and three stores. Shlomo Antebi of GFI Realty Services represented the sellers, local investors, in the transaction. He also represented the buyer, a local investor.

November 15, 2012

Mixed-Use Southeast

KBR BUILDING GROUP TO CONSTRUCT THE ACADIA AT METROPOLITAN PARK

by admin November 14, 2012

ARLINGTON, VA. — KBR Building Group’s Vienna, Va., office will construct The Acadia at Metropolitan Park, a mixed-use building in the multi-phase Metropolitan Park development in Arlington. The 19-story, 677,154-square-foot Acadia will include411 residential units, three levels of underground parking with 16,350 square feet of ground-floor retail space. The Acadia will be located adjacent to The Millennium at Metropolitan Park and The Gramercy at Metropolitan, which were both constructed by KBR Building Group. McLean, Va.-based Kettler is developing the project and Dorsky Yue International is the project architect.

November 14, 2012

Midwest Mixed-Use

DARLAND STARTS RENOVATION OF NEW VICTORY APARTMENTS & OFFICES

by admin November 12, 2012

OMAHA — Darland Construction has started the renovation of a six-story building in Omaha. Once complete in August 2013, the newly named Victory Apartments & Offices will provide affordable housing to U.S. veterans, as well as office and classroom space. American First Real Estate Group acquired the building from Grace University earlier this year, as part of a community project to serve the needs of veterans. The first floor will house classrooms and offices for the university and a 7,000-square-foot fitness facility and community room for residents. Clinical offices for the Nebraska-Western Iowa VA Medical Center will be located on the second floor, while the upper floors will become apartments.

November 12, 2012

Midwest Mixed-Use

NORTHMARQ ARRANGES $8.7M REFINANCING LOAN

by admin November 9, 2012

OVERLAND PARK, KAN. — NorthMarq Capital has arranged $8.7 million for the refinancing of 95 Metcalf Square in Overland Park. The property consists of nine mixed-use office and retail buildings totaling 152,122 square feet. John Stewart and Ian Reissner of NorthMarq Capital arranged the loan.

November 9, 2012

Mixed-Use Texas

LINSALATA BROKERS SHOPPING CENTER SALE

by admin November 9, 2012

BULVERDE — Linsalata Realty Services has arranged the sale of Hill Country Square, a 7,346-square-foot retail/office center located at 28150 N. U.S. Highway in Bulverde, just north of San Antonio. The center is 87 percent occupied. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. The buyer, San Antonio-based T-N-T Interests LLC, was self-represented.

November 9, 2012

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