Mixed-Use

JV BREAKS GROUND ON $54M STONEBRIDGE

by admin October 31, 2011

RICHMOND, VA. — A joint venture between Charlotte, N.C.-based Crosland Southeast and Hartford, Conn.-based Hutensky Capital Partners has broken ground on the first phase of the $54 million, 83-acre Stonebridge, a mixed-use development located on the site of the former Cloverleaf Mall in Richmond. The first phase includes a 123,600-square-foot Kroger, a Kroger fuel station, 20,400 square feet of additional retail space and four out parcels. Phase II is anticipated to break ground in mid-2012, with 175,000 square feet of retail space and approximately 350 multifamily units. McMillan Pazdan Smith designed the development, which will be engineered by the Timmons Group and constructed by HOAR Construction. Additionally, S.B. Cox is demolishing the existing mall.

October 31, 2011

NORTHMARQ ARRANGES $3.7M FOR HIGLEY PARK COMMONS

by admin October 26, 2011

GILBERT, ARIZ. — NorthMarq Capital has arranged $3.7 million in first-mortgage financing for Higley Park Commons in Gilbert. Financing for the 68,000-square-foot mixed-use property was based on a three-year, interest-only term. It was arranged through NorthMarq’s relationship with A-10 Capital. The building’s largest tenant is San Tan Learning Center, a charter school that occupies four for the site’s seven buildings. NorthMarq’s team was led by Jim Cooper, vice president of the firm’s Phoenix regional office.

October 26, 2011

Mixed-Use Northeast

CBRE BROKERS SALE OF 10,000-SQUARE-FOOT LIGHT INDUSTRIAL/FLEX/OFFICE SPACE

by admin October 21, 2011

WEST CHESTER, PENN. — CBRE Inc. has brokered the sale of a 10,000-square-foot light industrial/flex/office space at Park Valley Corporate Center in West Chester, Penn. Steve Italiano of CBRE represented the seller, West Chester, Penn.-based Park Valley Associates, a private real estate developer. The buyer, Illuminations Inc., was represented by Frank Englund of West Chester-based First Liberty Partners. Illuminations is moving to West Chester from its prior headquarters in Edgemont, Penn.

October 21, 2011

Mixed-Use Northeast

NAI HUNNEMAN BROKERS $7.4M SALE OF OLDE ANDOVER VILLAGE

by admin October 20, 2011

ANDOVER, MASS. — Boson-based NAI Hunneman has brokered the sale of Olde Andover Village, a 55,000-square-foot apartment, retail and office building in downtown Andover, Mass. for $7.4 million. David Ross and Robert Tito along with Gina Barroso represented the seller, OVA Realty Trust. They also procured the buyer, Rockland, Mass.-based Lincoln Essex Capital LLC. The property is located near Phillips Andover Academy.

October 20, 2011

Mixed-Use Northeast

Q10 NEW YORK ARRANGES $50M LOAN FOR NYC MIXED-USE PROPERTY

by admin October 17, 2011

NEW YORK CITY — White Plains, N.Y.-based Q10 New York, an affiliate of Houlihan Parnes Realtors, has arranged $50 million in first mortgage financing for the 250,000-square-foot Two Fordham Square, a mixed-use property located at 2501 Grand Concourse in the Bronx neighborhood of New York City. Jeanne Cronin, Mike O'Neill, Jerry Houlihan and Kelly Houlihan of Houlihan Parnes and Q10NY arranged the loan with a 7-year term and a 30-year amortization schedule through a major New York bank on behalf of the borrower, a partnership between partners of Houlihan Parnes Realtors and members of the Jemal family.

October 17, 2011

Mixed-Use Northeast

MIXED-USE BUILDING IN BROOKLYN SELLS FOR $1,6M

by admin October 14, 2011

NEW YORK CITY — New York City-based Massey Knakal has brokered the $1.6 million sale of a three-story, 2,667-square-foot mixed-use building, located at 274 Court St. in Brooklyn. The property includes retail space on the ground floor with two apartments above. Ken Freeman of Massey Knakal was the sole broker of the transaction.

October 14, 2011

Mixed-Use Western

OCEAN VILLAGE SELLS FOR $11M

by admin October 14, 2011

OCEANSIDE, CALIF. — Ocean Village, a 63,000-square-foot, mixed-use residential and retail property in Downtown Oceanside, has sold to MG Properties Groupfor $11,750,000. The project was completed in 2009 and includes 33 condominium units atop 10,676 square feet of ground-level retail that fronts the famed Pacific Coast Highway. MGPG plans to renovate and lease the vacant condo and retail units. Ocean Village was purchased with capital from MGPG’s Private Capital Group. The balance of the transaction was financed by KeyBank National Association. The seller, 401 PCH Ocean, LLC, was represented by Voit’s Mike Bouma, Rob Socci and Paul Caputo.

October 14, 2011

Mixed-Use Northeast

FIVE TENANTS JOIN THE SHOPPES AND OFFICES AT WOOD'S TAVERN

by admin October 12, 2011

HILLSBOROUGH, N.J. — Five tenants have signed leases with the landlord, Larken Associates, for space in The Shoppes and Offices at Wood's Tavern, located at the intersection of Route 206 and Amwell Road in Hillsborough. Pizza Hut signed a 1,525-square-foot lease; Tchorz, Granite & Marble signed a 511-square-foot lease; Earthfruits Frozen Yogurt signed a 1,700-square-foot lease; Northeast Wealth Planners signed a 509-square-foot lease; and IT Media signed a 408-square-foot lease. Robert Marek of Raider Realty represented the landlord in the Pizza Hut transaction, Victor Kelly of Raider Realty represented the landlord in the Tchorz, Granite & Marble and Earthfruits Frozen Yogurt transactions and Stephanie Williams of Raider Realty represented the landlord in the Northeast Wealth Planners and IT Media transactions.

October 12, 2011

Mixed-Use Southeast

GERBER VILLAGE IN ASHEVILLE SELLS FOR $8.9M

by admin October 11, 2011

ASHEVILLE, N.C. —- Florida-based Babyfish Two has purchased the 95,781-square-foot Gerber Village, a mixed-use property located at the intersection of Hendersonville and Gerber roads in Asheville, from HMP Properties for $8.9 million. Mike Burkard and Steve Shields of CBRE's Charlotte, N.C., office represented the seller, and Key Commercial Real Estate's Asheville office represented the buyer. Gerber Village is anchored by Office Depot and was 64 percent leased at closing to tenants such as Charles Schwab, Verizon Wireless, Five Guys Burgers & Fries, Frankie Bones Restaurant & Lounge and The Thirsty Monk. The property features 60,111 square feet of retail space, 27,572 square feet of office space and seven residential units totaling 8,098 square feet.

October 11, 2011

Mixed-Use Texas

BAYLOR FAMILY MEDICINE AT PROSPER OPENS FOR BUSINESS

by admin October 10, 2011

PROSPER — Baylor Family Medicine at Prosper has opened in a 4,700-square-foot facility in the 16,000-square-foot Eagle Crossing II, a mixed-use development located at 861 N. Coleman in Prosper. Dallas-based Lee Design Group, under a contract with Health Texas Providers Network, designed the medical space. Eagle Crossings II was constructed by Crossland Construction Co.

October 10, 2011

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