Mixed-Use

GROCERY STORE, APARTMENTS PLANNED IN OLD TOWN ALEXANDRIA, VA.

by admin February 28, 2011

ALEXANDRIA, VA. — Gaithersburg, Md.-based Buchanan Partners has partnered with Bethesda, Md.-based The Pinkard Group to develop a 51,500-square-foot Harris Teeter grocery store and 175 residential units for the Old Town North section of Alexandria. The $74 million, mixed-use development is scheduled to break ground in the second quarter of 2012, with Harris Teeter slated to open in 2014. The 65,000 square feet development site covers most of the city block bounded by North, Asaph, Madison and North Pitt streets. Bethesda-based Buvermo Properties is an equity partner in the development.

February 28, 2011

INVESTCORP/LINCOLN JV PURCHASES 550,000 SF MIXED-USE PROJECT

by admin February 24, 2011

PRINCETON, N.J. — A joint venture between Investcorp International Realty and Lincoln Equities Group has purchased Princeton Forrestal Village, a 550,000-square-foot mixed-use project located in Princeton. Constructed in 1987 and renovated in 2007, the property comprises 10 freestanding buildings containing a mix of office, retail and restaurant users. A separately owned Westin Hotel and Conference Center is also located on the 42-acre site. The buyers' near-term plans include leasing the vacant space at the center, which will include converting some of the vacant retail space to medical office use. The seller's name and the sale price were not released.

February 24, 2011

Mixed-Use Southeast

358-ACRE MIXED-USE PROJECT PLANNED IN LOUDOUN COUNTY, VA.

by admin February 23, 2011

LOUDOUN COUNTY, VA. — McLean, Va.-based Miller & Smith and Japan-based SEKISUI HOUSE are developing One Loudoun, a mixed-use project in Loudoun County. The 358-acre master-planned community will feature 1,040 residential homes, 702,000 square feet of retail space, including restaurants, shopping, a luxury hotel and a movie theater, 3 million square feet of office space, a community center and an amphitheater. The community will be constructed in phases, including South Village, North Village, Downtown and the fourth section, which includes the community amenities. The South Village and North Village will be completed in 2014 and 2016, respectively, with pre-home sales beginning in the fall. The Downtown phase and community center will be completed in 2013. The project is designed by Torti Gallas and The Eisen Group in conjunction with Miller & Smith.

February 23, 2011

Mixed-Use Northeast

MERIDIAN ARRANGES $22.3 MILLION LOAN FOR NYC OFFICE/RETAIL BUILDING

by admin February 23, 2011

NEW YORK CITY — Meridian Capital Group has arranged a $22.3 million loan to refinance an eight-story, 65,000-square-foot office and retail building located on Fifth Avenue in Manhattan. The property was fully occupied at the time of closing. The mortgage carries a 10-year term and a fixed interest rate; it was provided by UBS Securities. The borrower was not disclosed.

February 23, 2011

Midwest Mixed-Use

PGRT RECAPITALIZES 330 NORTH WABASH AVENUE IN CHICAGO

by admin February 17, 2011

CHICAGO — Prime Group Realty Trust (PGRT) has entered into a joint venture agreement with an affiliate of Stamford, Conn.-based Five Mile Capital Partners for 330 North Wabash Avenue in Chicago Designed by Mies van der Rohe, the 52-story, mixed-use tower will undergo building redevelopments, tenant improvements and renovations. Five Mile has agreed to provide up to $75 million of additional capital to the joint venture for building improvements. PGRT completed a $24 million base building redevelopment of the property in 2010. Additionally, The Langham Chicago, a five-star luxury hotel, will occupy floors two through 13. Once complete in late 2012, the hotel will offer a chef-driven restaurant, a spa and fitness center, and meeting and conference facilities.

February 17, 2011

Mixed-Use Western

LEE & ASSOCIATES BROKERS $11.5 MILLION MIXED-USE SALE IN SANTA BARBARA

by admin February 17, 2011

SANTA BARBARA, CALIF. — Lee & Associates Central Coast has brokered the $11.5 million sale of the 36,767-square-foot Anacota Plaza, a mixed-use property located at 610 Anacapa St. in downtown Santa Barbara. The deal included the buyer, The Hutton Foundation, signing a long-term lease for Antioch University to occupy 31,429 square feet. Lee & Associates’ Clarice Clarke represented both the buyer and the new tenant. The remaining 5,338 square feet is occupied by a locally owned restaurant.

February 17, 2011

Mixed-Use Southeast

245-ACRE WOODMORE TOWNE CENTRE OPEN IN MARYLAND

by admin February 11, 2011

GLENARDEN, MD. — Annapolis, Md.-based Petrie Ross Ventures and Hutensky Capital Partners has opened Woodmore Towne Centre at Glenarden. Upon completion, the 245-acre mixed-use project will offer 715,000 square feet of retail space, 1 million square feet of office space, two hotels, a conference center, 556 residential units and 366 single-family homes. The retail portion of the property is anchored by Wegmans, Costco, JCPenney and Best Buy.

February 11, 2011

Mixed-Use Texas

TEXAS SPEEDWAY CENTER TRADES

by admin February 10, 2011

NORTHLAKE — Lester Day and Walter Floyd of Transwestern's Fort Worth office have represented Texas Speedway Return, LLC in its sale of approximately 160 acres of land known as Texas Speedway Center to a buyer, HW Indian Springs, LP, that intends to hold the site for future high-density development. Located at the northeast corner of Interstate 35 West and Highway 1171 in Northlake, the property is entitled for high-density residential and commercial uses. The property was a bank REO.

February 10, 2011

Mixed-Use Texas

MIXED-USE BREAKS GROUND AT SHAMBURGER LUMBERYARD SITE

by admin February 9, 2011

DALLAS — A joint venture between Prescott Realty Group, Northwestern Mutual and AREA Property has broken ground on a $45 million mixed-use development on the old Shamburger Lumberyard site near Southern Methodist University (SMU) in Dallas. Within walking distance of the DART Mockingbird rail station and a quarter mile from SMU, the development consists of 417 apartments and 9,100 square feet of retail space and is the final phase in the revitalization of the University Crossing neighborhood. Humphreys & Partners designed the mixed-use development, consisting of two levels of podium parking, street-facing retail space and three four-story buildings.

February 9, 2011

Mixed-Use Southeast

FCP, WML TAKE SETTLER'S MARKET IN VIRGINIA FOR $13.25 MILLION

by admin February 4, 2011

JAMES CITY COUNTY, VA. — Federal Capital Partners (FCP) and Westmoreland Partners (WML) have acquired Settler's Market, a multi-use development at the intersection of State Route 199 and Monticello Avenue in James City County. The $13.25 million acquisition from a bank's REO portfolio was made by FCP and WML. Settler's Market has an approved site plan for 349,890 square feet of retail and commercial space and 204 residential units. At the time of closing, 47,826 square feet of retail space was already developed and is occupied by tenants, including Trader Joe's, BB&T and Baker's Crust.

February 4, 2011

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