SAN RAFAEL, CALIF. — Cohen Financial has secured a $21.8 million loan for two mixed-use properties in San Rafael. The properties consist of San Rafael Town Center, a property located on 4th Street and featuring office/retail space and 113 apartments; and Montgomery Tech Center, an industrial and retail property located on Dubois Street. Paul Schroeder of Cohen Financial’s San Francisco office arranged the transaction. The borrower was not disclosed.
NEW YORK CITY — Two of the five buildings that make up Columbus Square, a high-rise mixed-use project located on the Upper West Side of Manhattan, New York City, are scheduled for completion next month. The two buildings include the 15-story 801 Amsterdam Avenue tower and the 29-story 808 Columbus Avenue tower. The other three buildings, 775, 795 and 805 Columbus Avenue, will be delivered throughout the rest of the year. All five buildings will feature green rooftops, including a 2-acre rooftop park at 808 Columbus Avenue. Sustainable features include the use of solar panels, energy-efficient lighting and HVAC systems, recycled construction materials and recycling facilities in the buildings. Upon completion, Columbus Square will contain 710 rental residential units and 300,000 square feet of retail space. The apartments will range from studios to four-bedroom penthouses. Retail tenants already announced include Whole Foods Market, Michaels, Modell’s Sporting Goods, Border’s Books & Music, TJ Maxx, Crumbs Bakery, Chase and Bank of America. SLCE Architects designed 801 Amsterdam Avenue, with Costas Kondylis & Partners serving as project architect for the other five buildings. The project is being developed by the Chetrit Group and Stellar Management.
CHICAGO — Marcus & Millichap has brokered the sale of a 12,800-square-foot multi-use building located in Chicago’s Lincoln Park neighborhood. The property, which is located at 340-344 W. Armitage Ave., comprises six residential units and four retail spaces. Current retail tenants include Geja’s, Academic Approach and Terragusto Café. The property traded for a price of $3.32 million. Kyle Stengle and Stephen Rachman of Marcus & Millichap’s Chicago Downtown office represented the undisclosed seller. The pair also represented the buyer, a limited liability company.
CHICAGO — The Illinois office of Meridian Capital Group has arranged three loans totaling more than $5 million for three Chicago properties. First, Meridian’s Joseph Schwimmer secured a $2.25 million loan for a 22,980-square-foot mixed-use property located on the 3200 block of North Sheffield Avenue. The building contains 15 offices, 14 residential apartments and one retail space. The loan carries a 10-year term and a 5.72 percent interest rate. Meridian’s Gershon Friedman arranged a $1.6 million loan for an 80-unit multifamily property located at 4128 N. Clarendon Ave. The loan carries a 5-year term and a 5.95 percent interest rate. Finally, Meridian’s Tannie Schnell arranged a $1.2 million loan for a multifamily building located at 7010 N. Ashland Blvd. The loan carries a 5-year term and a 5.48 percent interest rate. The lenders and borrowers were undisclosed in all three transactions.
BROOMFIELD, COLO. — Loveland, Colo.-based McWhinney is developing North Park, a 935-acre mixed-use community in Broomfield. Located at the intersection of Interstate 25 and Northwest Parkway, the project will feature more than 6,200 planned residences; approximately 17 million square feet of commercial and mixed-use space, including retail, restaurant and entertainment venues; a 175-acre Applied Research Center; and a 70-acre central park.
FRISCO, TEXAS — Two new leases have been signed at Frisco Square, an urban master-planned development located at the intersection of Main Street and the Dallas North Tollway in Frisco. First, Frisco Exploration has signed a lease for 4,600 square feet of office space at 6136 Frisco Square Blvd. Jeff Eckert and James Esquivel of Jones Lang LaSalle — leasing agents for the project’s office component — represented Frisco Square in negotiations. Additionally, Healthy Massage has signed a lease for 1,000 square feet of space within the project’s retail component. Interior build-out for the space, which will be operated by Sandi Li of Plano, Texas, has already commenced. Casi Fricks of Frisco Square provided in-house landlord representation, while Sunny Hollister represented the tenant. Frisco Square is located directly across from Pizza Hut Park. It features retail, office, residential and park space, in addition to Frisco City Hall and a library.
WASHINGTON, D.C. — Washington-based Hickok Cole Architects is working to complete a design of the NYU-DC center, a new mixed-use New York University building in Washington. The property will be located on L Street and will encompass a lecture hall, seminar rooms, offices and student residences. NYU-DC will house undergraduate Arts and Science programs and satellite facilities for The Brademas Center for the Study of Congress, The Robert F. Wagner Graduate School of Public Service and NYU’s Office of Government and Community Affairs.
CHICAGO — Construction has topped out for Aqua, an 82-story mixed-use tower located within Chicago’s Lakeshore East master-planned community. The tower rises 874 feet, and features 476 rental residences, 268 luxury condominium residences, 210 hotel rooms, and approximately 55,000 square feet of retail and office space. The building’s eight-story base contains five levels of parking and three levels of common areas and amenities, including the Shore Club, which consists of an 80,000-square-foot outdoor deck and a 35,000-square-foot indoor facility. Aqua’s façade features concrete balconies that resemble waves traveling around the building. The building is slated for completion in 2010. Aqua is being developed by Magellan Development Group and is being built by James McHugh Construction Co. The design architect is Studio/Gang/Architects and the architect of record is Loewenberg & Associates.
WINNETKA, ILL. — Chicago-based New Trier Partners has received approval from the Village Council of Winnetka for the construction of a new multi-use project located in downtown Winnetka. The project, which is currently unnamed, will be built on the site of the former Fell Company building at the corner of Lincoln Avenue and Elm Street. It will consist of a four-story structure with 31 condominium units over street-level retail space. The retail component will feature boutique shop space fronting both Elm and Lincoln. Residences will be priced from $800,000 to $1.8 million. The project will also be applying for LEED certification and will be Winnetka’s first LEED-certified new structure if it receives the designation. New Trier Partners is currently securing financing for the project. A groundbreaking date has not been set.
BIRMINGHAM, ALA. — Dallas-based Inland American Communities Group and Birmingham-based Corporate Realty Development have started work on the CiTYViLLE Block 121 mixed-use development. The property, which is located on 20th Street in Birmingham, includes 21,000 square feet of retail space and 255 apartments. CiTYViLLE features a swimming pool, a clubhouse, an internet lounge and a fitness center. Niles Bolton & Associates designed the property, and Birmingham-based Schoel Engineering Co. will serve as the project’s civil engineer. Golden & Associates Construction will build the development, which is expected to deliver in mid 2010.