SPRINGFIELD, ILL. — McCormick Mortgage Co. has arranged development financing for the first phase of Legacy Pointe Town Center, a 277-acre mixed-use development in Springfield. The $34 million loan includes loans for the infrastructure of the first phase and construction loans for Scheels Superstore. The center will be anchored by a 203,000-square-foot Scheels Superstore, which is slated to open in July 2011. The two-story store will feature a 16,000-gallon aquarium, a 65-foot Eli Bridge Ferris Wheel, a three-car NASCAR simulator, a shooting gallery, four larger than life-size bronze sculptures, four life-size bronze statues, a Walk of Presidents with life-size statues of former Presidents. Additional details of the loans, which were provided by a consortium of banks, were not disclosed.
SUGAR LAND, TEXAS — Sugar Land-based Curtice Commercial Real Estate is nearing completion for Mody Plaza, a three-story, 25,000-square-foot commercial project located within Sugar Land's Lake Pointe Development. Initial plans for the building call for retail space on the ground floor, with restaurants or professional office space on the second and third floors. The building will also feature an attached two-story parking garage. Johnson Atala & Associates is serving as project architect.
NEW YORK CITY — Marcus & Millichap has completed the sale of a 40,300-square-foot mixed-use building located at 332 Keap St. in Brooklyn, New York City, for $4.3 million. Matt Fotis and Zachary Felson of Marcus & Millichap's Brooklyn office represented the seller, an estate. Fotis and Felson, along with Jeb Hollingsworth of the same office, represented the buyer, a private investor. The property traded at a 5.55 percent cap rate.
PENSACOLA, FLA. — Sandspur Development is gearing up to start construction on Airport and 12th, a $24 million mixed-use project, in Pensacola. Located at the intersection of Airport Boulevard and 12th Avenue, the property will feature 11 acres of office and retail space as well as a 127-room Hyatt Place hotel. SMB Architecture designed the development.
SAN DIEGO — The Peckham Family Trust is developing Harbor Point, a new two-story, 24,000-square-foot mixed-use building located at 5055 N. Harbor Drive in the Point Loma area of San Diego. Johnson & Jennings General Contracting is performing ground-up construction of the building, which is slated for completion in August 2010. Harbor Point will consist of nine office suites above three ground-floor retail suites and includes secured, covered parking and an open second-floor courtyard. F.L. Hope Architecture & Planning is the LEED project designer, SENTRE Partners is the development manager and B&G Consultants is the construction manager.
TEANECK, N.J. — Alfred Anzari Enterprises has completed a $6 million renovation project at its Glenpointe mixed-use property in Teaneck. Construction primarily occurred on the office component of the property. Glenpointe Centre East received a redesign of the lobby's waterfall, the addition of wood-paneled walls and ceilings, new seating areas and lighting upgrades. Glenpointe Centre West received new granite flooring and an updated color scheme. Finally, The Atrium at Glenpointe received new carpeting and columns in the cafeteria, new ceilings and lighting throughout the building, and a new glass-walled WiFi lounge with a tropical fish tank. Glenpointe consists of approximately 650,000 square feet of office space, 164 residential condominiums, a hotel and a spa.
SOUTHPORT, CONN. — Clearview Investment Management has acquired a partially completed component of Southport Green, a 64,600-square-foot mixed-use project located in Southport. Included in the sale is an approximately 40-room hotel, a restaurant, office space and luxury residential units. Clearview plans to complete the components and operate the hotel, which will open next spring under the name Delamar Southport. The CB Richard Ellis team of Jeffrey Dunne, Steven Bardsley, Christopher Leonard and David Gavin represented the undisclosed seller and procured Clearview. The sale price was not disclosed.
WESTLAKE, TEXAS — Turner Construction Co. has been selected by Deloitte LLP to build the new Deloitte University learning and leadership development center. The $130 million project will be built on 107 acres in Westlake. It will contain 712,000 square feet of construction, which will include 800 guest rooms, multiple conference spaces, 35 classrooms, dining venues, a ballroom, a business center and recreational facilities. The project will also be seeking LEED-Gold certification. Completion is slated for 2011.
THORNDALE, PA. — Marcus & Millichap has completed the sale of Caln Plaza, a 57,400-square-foot mixed-use property located in Thorndale, for $4.24 million. The property contains a shopping center, a residential apartment building and a self-service car wash. Matthew Gorman, Tom Gorman and Michael Shover of Marcus & Millichap's Philadelphia office represented the seller, a private investor. Both Gormans, along with Derrick Dougherty, Mark Taylor and Dean Zang, all with the firm's Philadelphia office, represented the buyer, an investor group led by Scott Homel and Pintzuk Brown Holdings.
SAN FRANCISCO — Marcus & Millichap has brokered the $3.15 million sale of a 14,342-square-foot mixed-use property located at 1007-1017 Valencia St. and 3285-3287 21st St. in San Francisco. Constructed in 1900, the property consists of six one-bedroom/one-bath units, two two-bedroom/one-bath units and six commercial units. Marcus & Millichap’s Brad Lagomarsino and James Devincenti represented both the seller, a partnership, and the buyer, a private investor.