Mixed-Use

ECHO PLAZA RENOVATION BEGINS

by admin August 17, 2009

SPRINGFIELD, N.J. — Hillsborough, N.J.-based Larken Associates has commenced the renovation of Echo Executive Plaza and Echo Plaza Shopping Center, a 107,448-square-foot office and retail development located at 899 and 901 Mountain Ave. in Springfield. Renovations to Echo Executive Office Building, a three-story, 40,880-square-foot professional office building, include a new lobby, and new common bathrooms and corridors. Renovations to Echo Plaza, the 66,000-square-foot retail component, will include a new façade and roof, new tenant and marquee signage, and new landscaping. The center will be anchored by health club No Body Denied, which recently signed a lease at the center. Other current tenants include Outback Steakhouse, Sherwin Williams, Echoqua Italian Bistro and Chen’s 22 Chinese Restaurant. The construction timetable was not released.

August 17, 2009

MASSEY KNAKAL COMPLETES TWO SALES TOTALING $2.3 MILLION

by admin August 13, 2009

NEW YORK CITY — New York City-based Massey Knakal Realty Service has completed two commercial sales in New York City for a total of $2.3 million. In the first transaction, Massey Knakal’s Nick Burns completed the $1.2 million sale of a vacant two-story commercial building located at 791-795 Westchester Ave. in the Bronx. The building totals 7,679 square feet and was owner-occupied by the selling family for more than 30 years. In the second transaction, Massey Knakal’s Stephen Palmese and Matthew Giordano brokered the sale of a three-story multi-use building located at 7524 Third Ave. in Brooklyn. The first floor of the 4,312-square-foot building is occupied by Dime Savings Bank under a long-term lease. The second and third floors each contain one three-bedroom apartment. The property traded for $1.1 million.

August 13, 2009

Midwest Mixed-Use

SPERRY VAN NESS BROKERS MIXED-USE SALE

by admin August 7, 2009

AURORA, ILL. — Sperry Van Ness has brokered the sale of a 13,000-square-foot mixed-use building, located at 1730 N. Farnsworth Ave. in Aurora, for $1 million. The building comprises five professional and medical office units, as well as eight residential apartments. Matt Chapdelaine and Dan Elliot of Sperry Van Ness’ downtown Chicago office represented the seller, MedCom Group, as well as the buyer, Lloyd Hammer.

August 7, 2009

Mixed-Use Northeast

EDISON TOWNE SQUARE TO BREAK GROUND

by admin July 21, 2009

EDISON, N.J. — Groundbreaking will occur Wednesday for Edison Towne Square, an approximately 98-acre mixed-use redevelopment project located in Edison. The project is situated on Route 1 at the site of the former Ford automotive plant, which closed in 2004. Plans for Edison Towne Square include retail and office space, a movie theater and other entertainment tenants, seven restaurants, a hotel with meeting space, walking and bike trails, and a 7.5-acre parcel that will be set aside for a community center for the town. The project is being developed by Secaucus, N.J.-based Hartz Mountain Industries and will be owned by an affiliate of the company. The project architect is Baltimore-based The Development Design Group. The construction timetable was not disclosed.

July 21, 2009

Mixed-Use Texas

CONSTRUCTION CONTINUES AT PARK 10

by admin July 14, 2009

HOUSTON — Several projects are complete or under way at Park 10, Wolff Companies’ 550-acre master-planned community located in the West Houston Energy Corridor. Along Park Row Boulevard, construction is advancing for four office projects. Woodcreek Development is working on The Reserve at Park 10, a 150,000-square-foot, Class A office building. Yancy Hausman recently completed a two-story, 32,000-square-foot headquarters building for Epic Energy. The National Association of Corrosion Engineers has also completed a two-story, 18,000-square-foot building on its existing campus. Finally, construction is under way for a new 66,000-square-foot building on Sercel’s 27-acre campus. Another project currently in the construction stage is a new $5.3 million fire station for the city of Houston. It is scheduled for completion in February 2010. Dallas-based Western International is also finalizing plans for the development of a 120-room Residence Inn by Marriott, which will be located at the corner of Barker-Cypress Road and Park Row. It will be situated near the new Medical Center – West, a 170-acre campus that will be the home to the west campuses of Texas Children’s Hospital and The Methodist Hospital. The $500 million first phase of the medical center is scheduled for completion in 2010. Finally, Moody National …

July 14, 2009

Mixed-Use Western

WESTRUST ACQUIRES ASSETS OF NUT TREE ASSOCIATES

by admin July 14, 2009

VACAVILLE, CALIF. — Westrust has acquired the assets of Nut Tree Associates, the master planner of Nut Tree and Nut Tree Family Park in Vacaville. Westrust is currently developing the 30-acre, 333,000-square-foot Nut Tree Retail hybrid lifestyle/community center that encompasses the legendary Nut Tree road stop. Westrust plans to relocate key elements of Family Park, including the Nut Tree train, carousel and historic ice cream structure, into the historic Hackberry tree area of the retail center. Construction of Nut Tree Plaza, the new amusement and entertainment venue, commenced in June with completion scheduled for early August. Nut Tree Associates currently owns, or has options to purchase, the remaining approximately 36 acres of the original 77-acre master planned project.

July 14, 2009

Mixed-Use Texas

SEVEN PROJECTS UNDER WAY AT INTERWOOD

by admin July 9, 2009

HOUSTON — Seven projects are currently under way at Interwood, Wolf Companies’ 440-acre master-planned business park located at the entry to Houston’s George Bush Intercontinental Airport, at the intersection of Beltway 8 and John F. Kennedy Boulevard. Three of the projects will be completed this summer. The first is Denver-based The Urban Group’s 62,000-square-foot, Class A office building, located at 15109 Heathrow Forest Pkwy. In addition, Austin-based Live Oak-Gottesman is wrapping up a 35,000-square-foot office building, located at the intersection of Interwood South and Heathrow Forest parkways, for the U.S. Customs & Border Control Protection Services. Finally, BRG Cornerstone Development will soon complete the first building for Weller Truck Parts. Construction of a second building for the company will begin this fall. Upon full completion, Weller will occupy approximately 42,000 square feet on its 4-acre site. The other four transactions have just started or will soon commence. First, Dallas-based Western International has broken ground for a 131-room Fairfield Inn & Suites hotel, which is scheduled for a fall completion. The company recently completed a 134-room TownePlace Suites hotel, also within Interwood. Boston-based Cabot Properties has purchased 23 acres of land, located at JFK Boulevard and Interwood South Parkway, for the …

July 9, 2009

Mixed-Use Southeast

GROUND BROKEN ON MIXED-USE DEVELOPMENT

by admin July 7, 2009

MURFREESBORO, TENN. — Swanson Cos. has broken ground on the 158,113-square-foot Gateway Village mixed-use development in Murfreesboro. The LEED project will include retail, restaurant, residential and office space. Completion is expected during the first quarter of next year.

July 7, 2009

Mixed-Use Western

MCCLELLAN PARK RECEIVES $95 MILLION SECURED CREDIT FACILITY

by admin July 7, 2009

MCCLELLAN PARK, CALIF. — McClellan Park, a 3,000-acre mixed-use development in McClellan, has received a $95 million secured credit facility from Wells Fargo Bank. The facility was arranged with the participation of Bank of America, Safe Credit Union and River City Bank. The new facility is for up to a 5-year term and provides up to $95 million through a revolving line of credit. McClellan Park features an airport, a full-service hotel, a fitness facility, a rail system and dormitories, as well as office, industrial and retail space. The project, which is entitled for more than 16 million square feet of commercial, retail, office and residential buildings, consists of 8.5 million square feet of useable buildings and 500 acres of developable land.

July 7, 2009

Mixed-Use Northeast

CETRARUDDY COMPLETES DESIGN FOR CASSANY

by admin July 1, 2009

NEW YORK CITY — CetraRuddy’s Hospitality Group has completed designs for CassaNY. Construction is currently underway on the 50-story independent hotel and condominium. Located at West 45th St. in Manhattan, New York City, the hotel will feature 57 residences and 166 hotel rooms and amenities such a world-class restaurant, a spa, a landscaped garden, a terrace, a lounge, and 24-hour concierge. CetraRuddy additionally serves as architect and is overseeing all construction for the project. The designs were completed in collaboration with Enrique Norten’s TEN Arquitectos. The project is anticipated to be complete in summer 2010.

July 1, 2009

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