Mixed-Use

JV TO DEVELOP MIXED-USE BUSINESS COMMUNITY AT DOUGLAS PARK

by admin August 8, 2008

LONG BEACH, CALIF. — San Francisco-based Newcastle Partners Inc. has partnered with RREEF Alternative Investments to acquire a 54.5-acre land parcel in Long Beach for the first two phases of development at Douglas Park, a 261-acre master-planned mixed-use project. Plans for the entire project comprise 4 million square feet of commercial space, including office, retail, industrial and hospitality, as well as 9.9 acres of parks. Valued at $350 million at final build out, the first two phases will encompass approximately 1 million square feet of commercial space. The first phase consists of a 165,000-square-foot office portion offering nine buildings ranging in size from 7,200 to 40,000 square feet, and a 245,000-square-foot industrial component consisting of 12 one-story buildings ranging in size from 6,140 to 32,258 square feet. The second phase will include an up to 500,000-square-foot office portion with 20 buildings ranging in size from 12,000 to 120,000 square feet, and a 200-room hotel property with 24,000 square feet of retail space. Completion for the first phase is slated for May 2009; construction on the second phase started in July 2008.

August 8, 2008

IT FIRM LEASES 220,000 SQUARE FEET IN CHANTILLY OFFICE PARK

by admin August 1, 2008

CHANTILLY, VA. — Philadelphia-based BPG Properties has leased 220,000 square feet of space in its 101-acre, mixed-use Commonwealth Centre at Westfields, located in Westfields International Corporate Center at the intersection of Route 28 and Westfields Boulevard in Chantilly, to Arlington, Va.-based CACI International for an undisclosed amount. The IT firm will lease one of BPG’s 160,000-square-foot buildings and an additional 60,000 square feet in an adjoining BPG building, which is yet to be constructed. Mike Christian and Junius Tillery of UGL Equis’ Washington, D.C., office represented CACI, and Michael Shuler, John McEvilly, Doug Eliott and Rob Walters of McLean, Va.-based Millennium Realty represented the landlord.

August 1, 2008

Mixed-Use Western

BUCHANAN STREET PARTNERS ARRANGES $65.2 MILLION LOAN

by admin August 1, 2008

PHOENIX — Buchanan Street Partners has arranged $65.2 million in financing for Park Place, a mixed-use construction development located in the Chandler submarket of Phoenix. Situated within the Price Road corridor, the 98-acre master-planned project will feature Class A office space, two hotels and retail space. The development features freeway visibility and convenient proximity to many amenities such as Chandler Fashion Center. Buchanan Street Partners arranged the financing on behalf of Cyburt Hall Partners.

August 1, 2008

Midwest Mixed-Use

THOMPSON THRIFT BREAKS GROUND ON MIXED-USE DEVELOPMENT

by admin July 31, 2008

FISHERS, IND. — The Carmel, Ind., office of Thompson Thrift has broken ground on its new development, Geist Landing of Fishers, which will be located at the northeast corner of 116th Street and Olio Road in Fishers. The 8.92-acre mixed-use development will feature a 31,450-square-foot, two-story building; a 14,375-square-foot, one-story building; and four outlots. The National Bank of Indianapolis has agreed to occupy one outlot at the development. The estimated cost of completion was not disclosed.

July 31, 2008

Mixed-Use Texas

THREE PHASES OF APARTMENTS TO BE ADDED TO FRISCO SQUARE

by admin July 30, 2008

FRISCO, TEXAS — Development is set to begin for three phases of luxury apartment units at Frisco Square, a town center-style, mixed-use project located in Frisco. Construction of Phase I, consisting of 281 units, will commence immediately, with completion expected in June 2009. The other two phases are scheduled for completion in 2012. Fairway Equities will be co-developing the residential project with Columbus Realty Partners. Amicus Construction will provide general contracting services, and Lincoln Property Co. will serve as leasing agent. The project is owned by Fairway Equities and Trammell Crow Company Acquisitions II, a real estate fund sponsored by Atlanta-based Trammell Crow Co.

July 30, 2008

Mixed-Use Southeast

MILLER CONSTRUCTION FINISHES LUXURY CONDOMINIUM

by admin July 29, 2008

BOCA RATON, FLA. — Miller Construction Co. has completed work on the nine-story, 16-unit 5Palms, a mixed-use condominium located at 455 E. Palmetto Park Rd. in Boca Raton. The building, which was developed by the father-daughter team of Calvin and Dana Haddad, also features 5,000 square feet of ground-floor retail space and a stainless-steel pool. The building sits next to Fifth Avenue Place, offering future residents easy access to the facility’s gym.

July 29, 2008

Mixed-Use Southeast

WETLANDS MARKS FIRST PHASE IN MIXED-USE ARROWBROOK CENTRE

by admin July 29, 2008

HERNDON, VA. — Wednesday’s groundbreaking of the Arrowbrook Centre Wetlands Nature Preserve marks the first step toward completion of Northern Virginia-based Carbon Thompson Development Co.’s Arrowbrook Centre, a mixed-use project located at the intersection of Sunrise Valley Drive and Centreville Road in Herndon. The park includes an educational nature preserve, sports courts and a playing field, and it should deliver within 6 months. The center will break ground in the summer of 2009 and will feature 407 residential units, 160,000 square feet of retail space and a 422,000-square-foot office facility. The development will also house the historic home of Confederate spy Laura Ratcliffe.

July 29, 2008

Midwest Mixed-Use

GENERAL GROWTH PROPERTIES TO MANAGE 420,000-SF MIXED-USE CENTER

by admin July 28, 2008

BRANSON, MO. — Effective Aug. 1, General Growth Properties will assume management, marketing and leasing responsibilities for Branson Landing, an upscale mixed-use development located in Branson. Branson Landing, which is owned by HCW Development Co., includes more than 420,000 square feet of retail, luxury condominiums, the Hilton Promenade, the Hilton Branson and the city’s convention center. The development, which is anchored by Bass Pro Shops and Belk department store, includes a variety of specialty retailers and restaurants. Additionally, Branson Landing contains waterfront entertainment venues including Gage’s Branson Landing Marina & Shoppes, the Branson Landing Cruises and Ride the Ducks.

July 28, 2008

Mixed-Use Southeast

MIXED-USE CAPITOL LOUNGE SELLS FOR $5 MILLION

by admin July 24, 2008

WASHINGTON, D.C. — Jim Kornick, Jerry Burg and Matt Clinebell of NorthMarq’s Washington office recently brokered the sale of the 8,780-square-foot Capitol Lounge building, which contains two floors of office space and a restaurant, for $5.87 million. Further details of the transaction for the building, located at 229 Pennsylvania Ave., were not released. Roy Hill of Marcus & Millichap represented the seller.

July 24, 2008

Mixed-Use Northeast

JV ACQUIRES 830,000-SF GIRARD SQUARE

by admin July 21, 2008

PHILADELPHIA — Girard Square Partners LLC has entered into an agreement with TCA Girard LP to acquire the leasehold interest in Girard Square, an 830,000-square-foot mixed-use complex located in Philadelphia. The complex spans an entire city block, and is bounded by Market, Chestnut, 11th and 12th streets. It comprises four buildings and a parking garage that contains 721,279 square feet of office and retail space, and 500 spaces of parking, respectively. The four buildings include the 13-story Stephen Girard Building, located at 21 S. 12th St.; the two-story 1100 Market Street building; the eight-story 34 South 11th Street building; and the four-story 1101 Chestnut Street building. The interest was acquired from the estate of Stephen Girard for an undisclosed amount. Girard Square Partners is a private partnership between PJSC – Joss Real Estate Partners I LLC, Philadelphia-based Young Capital and Philadelphia-based SSH Real Estate. The property will be leased and managed by SSH.

July 21, 2008

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