COLLEYVILLE, TEXAS — Realty Capital Corp. (RCC) has structured the sale of the first and second floors of a building located within the developer’s The Village at Colleyville master-planned project in Colleyville. The building is located at 55 Main; the first floor contains 11,095 square feet of retail condo space, and the second floor contains 14,090 square feet of office condo space. Tenants in the building include The Perfect Petal, Bella Rouge Designs, The Spa at The Village, R.S.V.P. Fine Stationary & Gifts, Details Home Furnishings & Accessories, Texas Wasatch Insurance, Caris Foundation and Cendera Funding. Chad O’Neal of RCC represented the sellers, Village 55 Main 1st Floor LP and Realty Capital Village #1 LP, which each own a floor of the building. The two groups of condos were acquired by a Texas-based limited partnership. The Village at Colleyville is an urban-style project consisting of two- and three-story buildings that contain retail, restaurant, office and residential space.
CINCINNATI — Corporex has plans to expand its mixed-use Baldwin Professional Center, which is on the northern rim of downtown Cincinnati, to include a Springhill Suites by Marriott. With the addition, the Baldwin Professional Center will contain 123 suite hotel rooms; 800,000 square feet of office space, including the new Humana regional headquarters; two restaurants; a fitness center; and covered parking. The new hotel, which is located adjacent to Humana, is slated for completion in March 2009. The Hartmann-Ryan team of Colliers Turley Martin Tucker serves as the leasing team for the development.
GILBERT, ARIZ. — Grasser Investments LLC is developing Spectrum Commercial Core, a 5-acre mixed-use project located at the intersection of Loop 202 and Val Vista in Gilbert. AR Mays Construction has broken ground for the construction of Mountainside Fitness, which is located within the development. The project consists of ground-level retail space, Mountainside Fitness on the second level and office space on the third level. MCG Architects provided architectural services for the project.
MONROVIA, CALIF. — Serving as general contractor, SL Residential Inc., an affiliate company of Snyder Langston, has completed the construction of Colorado Commons, a mixed-use community in Monrovia. Located in the city’s historic downtown, Colorado Commons features 68 live/work townhomes, 4,400 square feet of retail space, a subterranean parking garage for residents and a multi-level public parking structure. Designed by Daniel Gehman of Thomas P. Cox Architects, the $36 million project features five low-rise buildings offering one- to three-bedroom flats and two-story townhomes ranging in size from 696 to 2,142 square feet. The project was developed by PCC Monrovia LLC, in a public-private venture with the Monrovia Redevelopment Agency.
NEW YORK CITY — Marcus & Millichap has completed the $3.8 million sale of 345-347 Flatbush Ave. in Brooklyn, New York City. The mixed-use property features eight retail units and two rental residences. Matt Fotis and Peter Von Der Ahe of Marcus & Millichap represented the undisclosed seller, and Fotis and Dan O’Brien, also of Marcus & Millichap, represented the undisclosed 1031 exchange buyer.
ORLANDO, FLA. — Grubb & Ellis | Commercial Florida has arranged the $15.1 million sale of approximately 5.6 acres of land at Downtown Plaza to 400 North Orange LLC. Located at 400 N. Orange Ave., this was the last large parcel in the center of downtown Orlando. The seller, Downtown Plaza LLC, was represented by David Calcanis and Jeffrey Sweeney of Grubb & Ellis | Commercial Florida. The site has been approved for four towers with 907,000 square feet of offices, 76,000 square feet of retail and restaurants, 150 residential condos, 150 hotel rooms, 50 residential/office lofts, and a 2,547 vehicle parking garage.
STAMFORD, CONN. — Harbor Point Development has received final approval for the development of an approximately 1 million-square-foot mixed-use development located in the historic South End district of Stamford. Construction will consist of a waterfront hotel, residential, office and retail space, and 11 acres of public parks. The office and retail components are expected to be complete within 18 months, with residential space following soon after. The project has also been selected by the U.S. Green Building Council for the pilot program of the organization’s LEED – Neighborhood Development program.
GARLAND, TEXAS — A joint venture between High Street Residential and USAA Real Estate Co. has broken ground for 5th Street Crossing at Garland Station, a multifamily project located adjacent to 5th and 6th streets in downtown Garland. The project will feature 189 residential units, ground-floor retail space and a 400-stall parking garage. Community amenities will include a pool, internal courtyards, a fitness center and convenient access to a Dallas Area Rapid Transit rail station. The project is being designed by Dallas-based James, Harwick + Partners. USAA Real Estate Co. is serving as capital partner. The other partner, High Street Residential, is a wholly owned subsidiary of Trammell Crow Co.
ALLEN, TEXAS — Fort Worth, Tcxas-based Trademark Property Co. has held the grand opening for the first phase of Watters Creek, a $200 million mixed-use development located at the corner of U.S. Highway 75 and Bethany Drive in Allen. Approximately 300,000 square feet of retail space currently is open, with more set to come on-line this summer. Phase I will also include 80,000 square feet of office space. Upon completion, Watters Creek will contain 1.15 million square feet encompassing more than 450,000 square feet of retail and restaurant space, 301 residential lofts and additional office space. The project will feature a creekside village green, interactive public art and al fresco dining by the creek. The 52 acres comprising Watters Creek will serve as the commercial heart of the 500-acre Montgomery Farm development.
SAN ANTONIO — Wakefield Beasley & Associates Architects has begun design work for two new buildings at The Rim, an 800-acre, 1.6 million-square-foot mixed-use development located on La Cantera Parkway in San Antonio. Buildings 200 and 300 will total 260,000 square feet, and will include ground-floor, boutique retail and restaurant space with second-floor office space. Developer Thomas Enterprises also is seeking permitting for two more Wakefield Beasley-designed buildings. Buildings 600 and 800 will total 90,000 square feet and will feature retail and restaurant space. Three retailers have already opened at The Rim: a 79,000-square-foot Dick’s Sporting Goods, a 21,000-square-foot Staples and a 6,150-square-foot Tejas Lighting.