Mixed-Use

GWATHMEY REVEALS DESIGNS FOR 1.2M SF MIXED-USE PROJECT IN JERSEY CITY

by admin June 11, 2012

JERSEY CITY, N.J. — Gwathmey Siegel Kaufman + Associates has been selected to design a 1.2 million-square-foot, mixed-use project at 70-90 Columbus in Jersey City. The design includes two, 50-story towers and the plan will be presented to the community board later this month. Ironstate Development and Panepinto Properties have partnered to develop the property, which is slated to include 1,000 rental residences, a 150-room hotel and retail space. The towers will be adjacent to 50 Columbus, a 36-story rental building completed by the joint venture partners in 2007.

June 11, 2012

STATH REALTY BUYS BROOKLYN DEVELOPMENT SITE

by admin June 8, 2012

NEW YORK CITY — Stath Realty Corp. has purchased a development site at 1412-1425 Fulton St. in Brooklyn for $3.3 million. The site contains an existing medical health facility, located directly across from Restoration Plaza. The 10,247-square-foot lot can be built to a maximum of 57,391 square feet. The lease term for the lone tenant in the property will expire in October 2013. The new owner plans to hold the asset until the lease expiration and then reposition it for retail or mixed-use development. Brian Leary, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX represented the seller, Shiloh Realty Corp. They also procured the buyer.

June 8, 2012

Mixed-Use Northeast

CAMPANELLI BREAKS GROUND ON CAPE COD LUMBER PROJECT

by admin June 7, 2012

ABINGTON, MASS. — Campanelli Construction has broken ground on Cape Cod Lumber's new retail, warehouse and office building in Abington. The 136,000-square-foot building will serve as the lumber company's headquarters and operations center and the site will include a drive-through lumber yard for building professionals. The property is located at 225 Groveland St. and is slated for completion in January 2013.

June 7, 2012

Mixed-Use Texas

ADLER, KAWA ACQUIRE HOUSTON PORTFOLIO

by admin June 6, 2012

HOUSTON — A joint venture between Miami-based Adler Real Estate Fund and Kawa Capital Management has purchased 16 properties totaling 467,000 square feet of office and industrial space in the Houston area. The newly acquired assets include 152,173 square feet of space at Plaza Southwest; 98,008 square feet of space at Crescent Ten; 97,332 square feet of space at Commerce Park North; 71,673 square feet of space at Technipark Ten and 47,816 square feet at Westchase Park. The portfolio is 96 percent leased to tenants including ExxonMobil, Samsung, Ryder, Schlumberger and Alford Services. Rusty Tamlyn of HFF represented the seller, a joint venture between Insite Commercial Real Estate and Carval.

June 6, 2012

Mixed-Use Texas

APACHE CORP. BUYS BLVD PLACE SITE

by admin June 5, 2012

HOUSTON — Apache Corp. has purchased 6.4 acres of land at BLVD Place, a new mixed-use development located on Post Oak Boulevard and San Felipe Street in Houston. The property is located on the southwest corner of Post Oak Boulevard and the future BLVD Place Drive and includes frontage on Post Oak Lane and Ambassador Way. The Pavilion, a former shopping complex located on the site, is undergoing demolition with a completion date by year's end. Upon completion, BLVD Place will feature 388,000 square feet of retail and office space, as well as 1,000 high-rise multifamily units. Tim Relyea and Scott Wegmann of Cushman & Wakefield represented the buyer in the transaction. Ed Wulfe and Bob Sellingsloh of Wulfe & Co. represented BLVD Place.

June 5, 2012

Mixed-Use Northeast

SL GREEN AGREES TO ACQUIRE 304 PARK AVE. SOUTH FOR $135M

by admin June 1, 2012

NEW YORK CITY — SL Green Corp. has agreed to acquire 304 Park Ave. South, a 215,000-square-foot, mixed-use building in New York City, for $135 million, or $628 per square foot. A partnership headed by David Berley, chairman of Walter & Samuels Inc., was the seller. The office and retail building is located on the southwest corner of Park Avenue South and 23rd Street, directly across the street from SL Green's One Madison Avenue. The property is 95 percent leased and the lead tenant is IMG Models. Retail tenants include H&R Block, Bath & Body Works and Time Warner Entertainment. Walter & Samuels represented the seller.

June 1, 2012

Mixed-Use Northeast

HUDSON REALTY FUNDS $5.7M FIRST MORTGAGE LOAN

by admin May 25, 2012

NEW YORK CITY — Hudson Realty Capital has funded a $5.2 million first mortgage loan, secured by a 13,707-square-foot, mixed-use building in Manhattan's Nolita neighborhood. The 15-unit building is fully occupied. The sponsor used the funds to recapitalize the property's maturing debt and establish operating reserves.

May 25, 2012

Midwest Mixed-Use

JOINT VENTURE SECURES FINANCING FOR ROOSEVELT COLLECTION

by admin May 23, 2012

CHICAGO — A joint venture between McCaffery Interests and Canyon Johnson Urban Funds (CJUF) has secured financing for the Roosevelt Collection, a mixed-use development in Chicago. The property is located at 150 W. Roosevelt in Chicago's West Loop. Completed in 2009, the building includes 400,000 square feet of retail space, 342 apartment units and a 1,500-space parking garage. The apartment units are 95.6 percent leased and Kerasotes Show Place ICON Theater is currently leasing the retail space. Negotiations are under way with several other retail and restaurant operators to complete retail leasing for the project. Mike Kavanau and Steve Skok led the HFF team that arranged the senior loan through Prime Finance. The loan will fund the repositioning of the retail component of the Roosevelt Collection. The CJUF and McCaffery team is working to construct a new public plaza that will include water features and children's play areas. The improvements are scheduled for completion by the end of the summer.

May 23, 2012

Mixed-Use Western

UDALL SHUMWAY & LYONS LEASES 17,895 SF AT RIVERVIEW POINT

by admin May 22, 2012

MESA, ARIZ. — Udall Shumway & Lyons has signed a 10-year lease for 17,895 square feet at Riverview Point, a master-planned, mixed-use complex in Mesa. The law firm will be relocating from downtown Mesa in August 2012. It was represented by Tom Auther of Jacor Partners LLC in Phoenix. The landlord, R & R Riverview, was represented by Bryan Taute and Michael Strittmatter of CBRE’s Phoenix office.

May 22, 2012

Midwest Mixed-Use

INFINEON BREAK GROUND ON NEW FACILITY IN MICHIGAN

by admin May 21, 2012

LIVONIA, MICH. — Infineon Technologies, a semiconductor supplier for the automotive industry, has broken ground on a 46,000-square-foot facility in Livonia. Northern Equities of Farmington Hills is constructing the facility on a four-acre site at 19401 Victor Pkwy. The building will include an expanded testing lab, additional engineering facilities and added office space, compared to the company's current offices at 19111 Victor Pkwy. The space will allow Infineon to grow its staff by 50 percent from its current size of 90 employees in Livonia. Infineon plans to occupy the new facility in the winter of 2013.

May 21, 2012

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