ST. LOUIS, MO.— Lakeside Property LLC, a private investment group, has acquired a 23,500-square-foot, mixed-use building in St. Louis for more than $2 million. BankLiberty was the seller of the building, which is located at 11401 Olive Blvd. The multi-tenant building is anchored by ground floor tenants Enterprise Bank and an insurance firm. The second floor of the building, totaling approximately 12,500 square feet, is vacant but fully furnished. Champion Bank developed the building in 2008. It occupied approximately 20,000 square feet of space until April 2010 when the bank’s assets, including this piece of commercial real estate, were taken over by the Federal Deposit Insurance Corp. BankLiberty was assigned the assets. David Biales and David Steinbach of Jones Lang LaSalle represented BankLiberty in the transaction.
MIAMI — Swire Properties has broken ground on the $1.05 billion Brickell CitiCentre, a 5.4 million-square-foot, mixed-use development located in downtown Miami. The development will include a luxury shopping center, two condominium residences, a hotel, a wellness center, apartments and two office towers. The first phase, which includes all elements except for one office tower, is slated for completion in 2015, with full completion expected in 2018. The project will create approximately 1,000 jobs during construction.
FORT WORTH — The Laundry, a dry-clean drop-off station owned and operated by Fort Worth businesswoman Marilyn Bevan, has plans to open a 963-square-foot location at West 7th, a mixed-use development located at the southeast corner of University Drive and West 7th Street in Fort Worth. The facility will also house a tailoring shop that will be managed by Reata Alterations owner Brian Overstreet. Frank Bullock and Carey Shagets of SRS Real Estate Partners represented the landlord, Cypress Equities, in the lease transaction. Rodger Chieffalo of Chieffalo Realty represented the tenant.
PLYMOUTH, MICH. — Grand Sawa has purchased a 526,540-square-foot office and industrial building, located at 909 Sheldon Road in Plymouth. John Lominack and Gary Glotzhober of Colliers International represented the buyer in the transaction. He also represented the seller, CW Capital Asset Management. Colliers has also been retained to lease the facility, which sits on 34 acres.
NEW YORK CITY — 5 East 51st St. LLC has purchased a six-story mixed-use building, located across from New York City's St. Patrick's Cathedral on Fifth Ave., for $12.6 million. The 14,000-square-foot property includes 14 apartment units and 5,000 square feet of retail space. The sale also includes 21,000 square feet of air rights. Peter Carillo of Eastern Consolidated represented the seller in the transaction. He also produced the buyer.
NEW YORK CITY — City National Bank (CNB) has signed a 15-year lease for 45,000 square feet of retail and office space at 400 Park Ave. The property has served as the company’s New York headquarters since 2002, and CNB previously occupied 15,000 square feet. The building will house a new 5,400-square-foot, street-level banking center as well as expanded office space on the upper floors. Lynn Williams, Dale Schlather and Jeff Welch of Cushman & Wakefield represented CNB in the transaction. The building owner, Waterman Interests, was represented in-house.
FORT LEE, N.J. — Tucker Development Corp. has received plan approval from the Fort Lee Borough Planning Board for the 1 million-square-foot Hudson Lights, located on more than eight acres in downtown Fort Lee. Hudson Lights is the western portion of a 16-acre site adjacent to the George Washington Bridge. The mixed-use development will feature 165,000 square feet of retail, 477 residential units, a 175-room hotel, an office building and 1,200 parking spaces. Robert K. Futterman & Associates will market the retail space.
CHARLOTTE, N.C. — Developer Crescent Resources has started construction on the $52 million Circle South Park, a 321-unit luxury apartment community located on Carnegie Boulevard near SouthPark mall in Charlotte. Circle South Park is being financed by an equity investment from Crescent, construction financing from J.P. Morgan and mezzanine financing from Nationwide Real Estate Investments. The project team includes architect The Preston Partnership; landscape architect LandDesign; civil engineer Colejenest & Stone; interior designer Vignette Interior Design; general contractor State Building Group and property management firm Greystar. Circle South Park will feature a cyber lounge, business center, Wi-Fi throughout the amenity areas and a clubroom with a show kitchen and gaming area. The project will also feature a multistory health club; resort-style saltwater swimming pool with aqua sundeck, outdoor kitchen and lounging area; two-acre dog park and a pond with walking trail. The first apartments are expected to be available in summer 2013.
DOVER, N.H. — The Cocheco Waterfront Development Committee has approved plans for a $65 million, mixed-use project known as Dover Landing. The 21-acre site hugs the Cocheco River and is located on a former public works yard. The first phase will include a 16,000-square-foot, two-story building that will include one or two restaurants on the ground floor and offices on the second floor. The project will also include three townhouse-style buildings. The first floors will feature office or retail with residences above. Construction will be completed in two phases from 2013 to 2016. Quincy, Mass-based Dickinson Development will develop the property.
PROSPER — Dallas-based Terra Verde Group has purchased the 2,030-acre Three Stones, a master-planned community located in Prosper, for $30 million. The seller was a partnership that included developer Forest City Enterprises. Terra Verde plans to invest $250 million in development costs over the life of the project. Three Stones will ultimately feature a 120-acre mixed-use/office component, three school sites, four amenity centers and 3,500 single-family lots.