Mixed-Use

Indicap, Colmena Group, Langley Properties Receive Town Approval for $1B Mixed-Use Project in Gilbert, Arizona

by Jeff Shaw June 30, 2023

GILBERT, ARIZ. — The Town of Gilbert, a suburb southeast of Phoenix, has approved the zoning request for a 311-acre mixed-use development called The Ranch. Indicap, Colmena Group and Langley Properties are leading the project and estimate that development costs exceed $1 billion. Upon completion, The Ranch will offer 221 acres of light industrial space, 39 acres of commercial space, 39 acres of multifamily space and 16 acres of public green space. The industrial portion could total up to 3 million square feet of mid-bay and cross-dock buildings. The commercial space is slated to include restaurants, storage, convenience stores, office space, a fitness center, small grocer and dental office, among other uses. Plans for Residences at the Ranch, the multifamily component of the project, including two- and three-story rental homes with ground-floor retail. The 16-acre green space will include trails and landscaping for the community to use. The developers also plan to make $20 million in offsite improvements. The zoning approval marks the conclusion of 18 months of negotiations between the developers and the town government. A timeline for construction was not disclosed. — Channing Hamilton

June 30, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Connolly, Coro Realty Unveil Mixed-Use Redevelopment in Sandy Springs, Georgia

by John Nelson June 28, 2023

SANDY SPRINGS, GA. — Connolly and Coro Realty have announced the repositioning of the commercial portion of a mixed-use development in metro Atlanta formerly known as Sandy Springs Gateway. The duo purchased the 120,000-square-foot component in February 2022 for $40.5 million. The property, which comprises 92,000 square feet of shops, restaurants and service retailers and 28,000 square feet of second-story office space, is now known as Chastain Market due to its proximity to Chastain Park in the nearby Buckhead district of Atlanta. Connolly and Coro Realty have also inked new leases for the project, including an Italian eatery from chef Kevin Maxey, Alloy Personal Training and United Community Bank. In addition to re-tenanting the development’s former Sprouts Farmers Market grocery store, Connolly and Coro Realty are undertaking a multimillion-dollar renovation to the property. Additionally, a new mural was painted for the project at the corner of Roswell Road and Windsor Parkway. Chastain Market is adjacent to two apartment communities totaling 630 units: The Gateway Chastain and The Collection.

June 28, 2023

Florida Loans Mixed-Use Southeast

Berkadia Secures $40.7M Loan for One Eleven Mixed-Use Tower in Downtown Orlando

by John Nelson June 28, 2023

ORLANDO, FLA. — Berkadia has secured a $40.7 million loan for the recapitalization of One Eleven, a 30-story mixed-use tower located at 111 E. Washington St. in downtown Orlando. Charles Foschini, Chris Apone and Shannon Wilson of Berkadia’s South Florida office originated the five-year, interest-only loan through Morgan Stanley on behalf of the borrower, Lincoln Orlando Holdings LLC. Built in 2008, One Eleven features a mix of 11,076 square feet of ground-floor retail space with outdoor patio seating, nine levels of parking, 152,360 square feet of office space and a 164-unit apartment component called Aspire. Commercial tenants include Ocean Bank, Daily Bread, Innovative Systems Group of Florida, McDonald Toole Wiggins PA, National Society of Leadership and Success, Atwell Engineers, Skanska and Huitt-Zollars Inc. The residential and office portion have separate lobbies, and residential amenities include the highest rooftop pool deck in the city and an amenity level with a balcony, health club and fitness center.

June 28, 2023

Affordable Housing California Development Mixed-Use Multifamily Retail Western

Intracorp Homes Acquires 3.8-Acre Mixed-Use Redevelopment Site in Torrance, California for $21M

by Jeff Shaw June 28, 2023

TORRRANCE, CALIF. — Intracorp Homes purchased 22501 Hawthorne Blvd., a 3.8-acre site in Torrance, from a locally based private investor for $21 million. John Read, Greg Sullivan and Trent Steeves of CBRE represented the seller. The property was historically a retail center anchored by a bowling alley called Gable House Bowl. Intracorp Homes plans to redevelop the site into a mixed-use project, which will include 17 affordable rental units as well as commercial space. Details on rent restrictions for the affordable units have not yet been disclosed.

June 28, 2023

Development Massachusetts Mixed-Use Northeast

Stonegate Group Breaks Ground on 89,500 SF Mixed-Use Redevelopment in Natick, Massachusetts

by Taylor Williams June 28, 2023

NATICK, MASS. — Locally based developer Stonegate Group has broken ground on Stonegate St. Patrick, an 89,500-square-foot, mixed-use redevelopment in Natick, a western suburb of Boston. Designed by Finegold Alexander Architects, the project will convert the site of a former school into a property with 46 apartments, four townhomes and 14,000 square feet of retail space. Apartments will come in one-, two- and three-bedroom formats, and 14 apartments will be reserved as affordable housing. Townhomes will feature three- and four-bedroom layouts. Nauset Construction is the general contractor for the project, a tentative completion date for which was not disclosed.

June 28, 2023

Arizona Development Mixed-Use Western

HCCJ Family Partners Breaks Ground on 35,000 SF Sunrise Market Mixed-Use Development in Verrado, Arizona

by Jeff Shaw June 26, 2023

VERRADO, ARIZ. — HCCJ Family Partners has broken ground on Sunrise Market, a 35,000-square-foot mixed-use development in Verrado, roughly 30 miles west of Phoenix. Tenants at the property, which is currently 65 percent pre-leased, will include Copper & Sage, Bobazona, Bosa Donut and Honey Nail. James DeCremer, Matt Milinovich, Alec Miller and Drew Sampson of Avison Young manage leasing at the project on behalf of HCCJ. Construction is scheduled for completion in January 2024.

June 26, 2023

Acquisitions Development Florida Mixed-Use Southeast

FundRebel to Acquire Nine Hollywood Mixed-Use Development in Metro Miami for $67M

by Hayden Spiess June 23, 2023

HOLLYWOOD, FLA. — FundRebel LLC is under contract to acquire Nine Hollywood, a mixed-use property currently underway in Hollywood, for $67 million. Situated on a 36,000-square-foot parcel, the development features 204 multifamily residential units, three levels of integrated parking and more than 7,000 square feet of retail space. Residences include apartments in studio, one- and two-bedroom layouts. Amenities at the property include a swimming pool, fitness center and business suites. Construction on the project is scheduled for completion in the fourth quarter of this year. The seller was not disclosed.

June 23, 2023

Development Loans Mixed-Use Multifamily North Carolina Southeast

Third & Urban Obtains $64.5M Construction Loan for Multifamily Development in Charlotte

by John Nelson June 22, 2023

CHARLOTTE, N.C. — Atlanta-based mixed-use developer Third & Urban has obtained $64.5 million in construction financing for Residences at The Pass, a 335-unit multifamily development located in Charlotte’s NoDa district. CrossHarbor Capital Partners provided the financing. The property will feature a mix of studios, one- and two-bedroom apartments anchored around a resident club room, work lounge and café that Pixel Design Collaborative designed. Residences at The Pass will also feature a rooftop terrace overlooking the courtyard and pool deck and will offer direct access to the Cross Charlotte Trail. First residents are expected to move in by summer 2025. The community will be the multifamily component of The Pass, a mixed-use development that will also feature 260,000 square feet of office and retail space. The project’s first phase, dubbed Pass41, is under construction and will span 80,000 square feet of commercial space with its first round of tenants opening this fall, including Soul Gastrolounge. The design-build team for The Pass includes architect Niles Bolton, civil engineer Thomas & Hutton and general contractor NRP Group. Foundry Commercial handles office leasing at The Pass, and Thrift Commercial Real Estate handles retail leasing. Blueprint Local serves as Third & Urban’s primary capital partner …

June 22, 2023

Development Georgia Mixed-Use Office Retail Southeast

Jamestown Tops Out Mass Timber Mixed-Use Building at Ponce City Market in Atlanta

by John Nelson June 21, 2023

ATLANTA — Jamestown has topped out 619 Ponce, a mass-timber mixed-use building on the Ponce City Market campus in Atlanta’s Old Fourth Ward district. The four-story property will comprise 87,000 square feet of loft offices and 27,000 square feet of retail space upon completion. Business tech firm Sage and retailer Pottery Barn have committed to 57,000 square feet of office space and 18,000 square feet of retail space at 619 Ponce, respectively. Amenities will include onsite daycare and medical facilities, direct access to the Atlanta BeltLine, bike storage and complimentary access to The Roof entertainment venue at Ponce City Market. The building will feature outdoor space on every level, natural wood columns and ceilings and floor-to-ceiling windows with operable panels. Jamestown is targeting LEED and Fitwel certification and is using Georgia-grown timber for the façade at 619 Ponce, as well as a regional supply chain, according to Jamestown. The design-build team includes Handel Architects, JE Dunn and StructureCraft. Atlanta-based Jamestown owns and manages more than 100,000 acres of timberlands across Georgia, Alabama, South Carolina, New York, Pennsylvania and Indiana.

June 21, 2023

Development Leasing Activity Mixed-Use Retail Southeast Tennessee

Southwest Value Partners, AEG Sign Iconix Fitness to 40,000 SF Lease at Nashville Yards

by John Nelson June 21, 2023

NASHVILLE, TENN. — Southwest Value Partners and AEG, joint venture partners and co-developers of the 18-acre Nashville Yards mixed-use development, have signed Iconix Fitness to a 40,000-square-foot retail lease. Michael Townsend of Townsend & Associates advised Iconix Fitness on the lease transaction. The high-end wellness and recovery-focused fitness operator plans to open the new club in summer 2025. Iconix will occupy the entire second floor of Nashville Yards’ 420,000-square-foot, Class A creative office building, which will also house an EVO Entertainment venue. The Iconix club will have a dedicated entry on the ground floor with a retail space offering fitness apparel, as well as a health-focused café with an adjacent patio space that will be used to host social events for members. The club also plans to activate the more than seven acres of open green spaces at Nashville Yards for special events and classes. Additionally, the venue will have a 2,500-square-foot recovery area that will feature infrared sauna, cold plunge, red light therapy and compression therapy treatments.

June 21, 2023

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