Mixed-Use

TRIBECA LOFT SELLS FOR $13 MILLION

by admin November 17, 2010

NEW YORK CITY — Eastern Consolidated has brokered the sale of a seven-story commercial loft building located in Manhattan's Tribeca neighborhood for $13 million. The building, which is located at 481-487 Washington St., is currently occupied by office tenants on the upper floors and retail tenants on the ground floor. The new owner is considering several options for the building including converting it into high-end apartments. The Eastern Consolidated team of Eric Anton and Ronald Solarz represented the seller, 481 Washington Street Realty Corp., and procured the buyer, 481 Washington Street LLC.

November 17, 2010

DEVELOPMENT BEGINS FOR MIXED-USE PROJECT IN PA.

by admin November 15, 2010

CARLISLE, PA. — Reno, Nev.-based Equiterra Properties has commenced development for a new mixed-use project in Carlisle. The project will be built on 55 acres at the interchange of Interstate 81 and Allen Road. Right now, construction for $43 million in infrastructure improvements to the interchange is under way. The project's first phase will include two hotels, seven commercial pad sites and 37,000 square feet of retail space. Groundbreaking will occur in the spring. Additional phase of the project are being planned. Danie Alderman of NAI CIR is marketing the property.

November 15, 2010

Mixed-Use Northeast

THE SETAI FIFTH AVENUE OPENS IN MANHATTAN

by admin November 5, 2010

NEW YORK CITY — The ribbon cutting ceremony has been held for The Setai Fifth Avenue Hotel & Residences. Located at 400 Fifth Ave. in Midtown Manhattan, the tower features 184 luxury condominiums, a 214-room hotel and the restaurant Ai Fiori. The developer was Bizzi & Partners, and the project architect was Gwathmey Siegel & Associates Architects.

November 5, 2010

Mixed-Use Northeast

MANHATTAN DEVELOPMENT SITES SELLS FOR $8.5 MILLION

by admin November 4, 2010

NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of a development site located at 35-39 Cooper Square in Manhattan's East Village for $8.5 million. The lot size is 4,833 square feet, is zoned for mixed-use development and can accommodate 28,998 buildable square feet. Joe Sitt of Massey Knakal's Special Asset Strategy Group handled the transaction between the two undisclosed parties.

November 4, 2010

Mixed-Use Western

URDANG/EDGEWOOD JV ACQUIRES ICONIC 84,000-SQUARE-FOOT PROPERTY IN L.A. AREA

by admin November 3, 2010

PASADENA, CALIF. — The joint venture of Urdang and Edgewood Realty Partners LLC has acquired the 84,000-square-foot Chamber of Commerce Building and an adjacent 246-space parking garage, located on Colorado Boulevard within Old Pasadena, from a corporate seller. Terms of the deal were not disclosed. A real estate investment manager and part of BNY Mellon Asset Management, Urdang made the acquisition on behalf of an institutional, separate-account client managed by Urdang Capital Management. Constructed in 1904 and 93 percent-occupied at the time of sale, the landmark Chamber of Commerce Building consists of five stories of offices above ground-floor retail space.

November 3, 2010

Mixed-Use Texas

PHASE I OF HEBRON 121 STATION GETS UNDERWAY

by admin October 29, 2010

LEWISVILLE — Huffines Communities has begun development of Phase I of its master planned community Hebron 121 Station in Lewisville. The 90-acre, infill, mixed-use development is located near Vista Ridge Mall at the intersection of Interstate 35 East and State Highway 121, adjacent to the new Denton County Transit Authority (DCTA) Hebron rail and bus station. The initial phase includes 234 multifamily residences and is expected to be completed in late spring 2011. The $3 million development will ultimately include 1,755 multifamily units and 250,000 square feet of retail and office space.

October 29, 2010

Mixed-Use Northeast

FOREST CITY REFINANCES STATION SQUARE MIXED-USE PROPERTY

by admin October 22, 2010

PITTSBURGH — Forest City Enterprises has procured a $62 million loan to refinance its Station Square mixed-use property in Pittsburgh. The CMBS loan carries a 10-year term and a 5.85 percent interest rate. It will be used to retire three separate bank loans totaling $58.6 million. Station Square is a 652,800-square-foot property located along the Monongahela River on Pittsburgh's south side. Its tenants include Hard Rock Café, Gateway Clipper Fleet and U.S. Bank.

October 22, 2010

Mixed-Use Texas

LUCKEY RANCH PARCEL SELLS

by admin October 22, 2010

SAN ANTONIO — The first development parcel of the planned 2,400-home, 610-acre Luckey Ranch project, located at Loop 1604 North and Highway 90 in San Antonio, has sold. The Kalikow Group, on behalf of KEP Luckey Ranch Global Associates, sold the 93-acre parcel to LGI Homes and GTIS Partners for an undisclosed amount. The Luckey Ranch site consists of 539 acres slated for residential development as well as 71 acres zoned for commercial use.

October 22, 2010

Mixed-Use Western

HFF ARRANGES $9.75 MILLION REFINANCE OF 4-PROPERTY MIXED-USE PORTFOLIO

by admin October 21, 2010

SAN DIEGO — Holliday Fenoglio Fowler LP has arranged the $9.75 million refinancing for four mixed-use properties situated along 4th and 5th Avenue in San Diego’s historic Gaslamp Quarter. The 48,065-square-foot portfolio features retail, residential-loft, office and specialty-use space. HFF’s Patrick Burger and Tim Wright represented the borrower, Burni Enterprises, and its asset manager, Cardinal Group Investments LLC, in securing the 3-year, adjustable-rate, non-recourse loan through a major New York-based debt fund. Loan proceeds are retiring existing debt and funding the conversion of two assets to retail and residential-loft uses.

October 21, 2010

Mixed-Use Texas

DALLAS COMPANIES PURCHASE DALLAS MIXED-USE

by admin October 18, 2010

DALLAS — Dallas-based Centennial Real Estate Co., along with Dallas-based Corinthian Apartment Investments and equity partner Praedium Fund, has acquired The Èlan at Bluffview, a mixed-use multifamily and retail development located at 3850 W. Northwest Hwy. in Dallas. The property features 181 luxury one- and two-bedroom apartments with lofts ranging from 900 to 2,000 square feet, which are 95 percent occupied. It also includes 70,000 square feet of retail space originally built in the 1980s that is 30 percent leased.

October 18, 2010

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