ORLANDO, FLA. — Demolition and construction on the redevelopment planned for the 25-year-old University Shoppes retail center, which is located across from the University of Central Florida’s main entrance in Orlando, will commence this week. Austin, Texas-based American Campus Communities Inc. plans to bring 1,313 student housing beds, 60,000 square feet of new retail space and a 10-level parking structure to Orlando’s Northeast Orange County submarket. Bobby Palta of CBRE is marketing the retail space.
ODESSA — Kenzington's Kloset and The UPS Store have plans to open new locations in Parks Legado Town Center, a 68-acre mixed-use development in Odessa. Phase I of the development is 95 percent leased to tenants including Aim Bank, Cork and Pig Tavern, The Egg and I Restaurant, Press Cafe, Joe James Salon and Day Spa, Marble Slab Creamery, Whitehouse Meat Market and Nutrition Bunker. The development will also include a 120-room Residence Inn, which will open in the spring of 2013.
HOLLYWOOD, CALIF. –Millennium Hollywood, a 4.47-acre, mixed-use development, will soon occupy premier space near the intersection of Hollywood and Vine in downtown Hollywood. The transit-oriented, pedestrian-friendly development will include 492 residential units; 200 luxury hotel rooms; 34,000 square feet of restaurant space; 35,100 square feet of sports club use; 15,000 square feet of commercial retail space; and 215,000 square feet of Class A office space that includes the existing Capitol Records Building and the Gogerty Building. The new development, which is estimated to contain 1 million square feet of new uses, will also feature an abundance of open space, as well as street-level plazas. The project is being developed by Millennium Partners and Argent Ventures.The two new buildings will be designed by Handel Architects. Roschen Van Cleve Architects will oversee the preservation efforts of the Capitol Records Building and the Gogerty Building.
JACKSONVILLE, FLA. — MAA, an apartment-only real estate investment trust, has joined Jacksonville-based Hallmark Partners and Nashville, Tenn.-based Bristol Development Group to build 220 Riverside Avenue, a mixed-use project in downtown Jacksonville. The development team is set to break ground this month on a seven-story, 294-unit multifamily property that includes 18,000 square feet of retail space. The project will also include an urban public park as Hallmark Partners is donating land for the park in a public-private partnership between the development team and the City of Jacksonville. The project and park will be located adjacent to the Northbank Riverwalk, Riverside and Downtown areas of Jacksonville.
HOLLYWOOD, CALIF. — Millennium Hollywood, a 4.47-acre, mixed-use development, will soon occupy premier space near the intersection of Hollywood and Vine in downtown Hollywood. The transit-oriented, pedestrian-friendly development will include 492 residential units; 200 luxury hotel rooms; 34,000 square feet of restaurant space; 35,100 square feet of sports club use; 15,000 square feet of commercial retail space; and 215,000 square feet of Class A office space that includes the existing Capitol Records Building and the Gogerty Building. The new development, which is estimated to contain 1 million square feet of new uses, will also feature an abundance of open space, as well as street-level plazas. The project is being developed by Millennium Partners and Argent Ventures.The two new buildings will be designed by Handel Architects. Roschen Van Cleve Architects will oversee the preservation efforts of the Capitol Records Building and the Gogerty Building.
ATLANTA — Capital Advisors has arranged $2.15 million in refinancing for a 21,326-square-foot retail and office space at 3717-3721 Roswell Rd. in Atlanta’s Buckhead submarket. The property includes The Ivy Restaurant, several small office tenants and a single-story car wash. Kelly Martone of Capital Advisors’ Atlanta office arranged the 20-year loan with a 25-year amortization schedule on behalf of Habif Properties. It was arranged through Capital Advisors’ correspondent lender, StanCorp Mortgage Investors LLC.
PERTH AMBOY, N.J. — The Shoppes at Victory Village, a 32,349-square-foot mixed-use property in Perth Amboy, has sold for $6.7 million. The property is located at 553-559 Sayre Ave. and includes 15 apartment units and 18,000 square feet of retail. Tenants include 7-Eleven, Dollar General and Popeye's. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller, a regional developer, in the transaction. They also secured the buyer, a partnership.
HOUSTON — Charlotte, N.C.-based Crescent Resources has acquired 993 acres in northeast Houston for a new master-planned community, which will include 2,259 single family houses, 540 multifamily units, 50 acres for retail/commercial use and a 40-acre site for a future school that will be part of the Humble Independent School District. Development is slated to begin next year and Phase I of the single family homesites is expected to finish in mid-2014.
SEATTLE – A new mixed-use project that will feature 105 residential units and 7,500 square feet of ground-floor retail space is slated for Seattle’s Capitol Hill neighborhood. Transwestern Investment Management (TIM) and its equity partner, State Farm Life Insurance Company, have enlisted Alliance Residential to develop the project at 1100 East Madison Street. It is scheduled for completion in 2014.
SEATTLE – A new mixed-use project that will feature 105 residential units and 7,500 square feet of ground-floor retail space is slated for Seattle’s Capitol Hill neighborhood. Transwestern Investment Management (TIM) and its equity partner, State Farm Life Insurance Company, have enlisted Alliance Residential to develop the project at 1100 East Madison Street. It is scheduled for completion in 2014.