MINNEAPOLIS — The Minneapolis/St. Paul office of Colliers Turley Martin Tucker has arranged the sale of the historic mixed-use Manufacturers Building located at 401 First Avenue North in Minneapolis. Colliers represented Manufacturers Building LLC in the sale of the 52,175-square-foot building to Uppal Enterprises. Terms of the deal were undisclosed. The building’s new owner is renaming the landmark facility, which includes retail and office space, 401 1st Avenue.
WINNETKA, ILL. — Steven Rachman and Kyle Stengle of Marcus & Millichap’s Downtown Chicago office have brokered the $2.2 million sale of a mixed-use property located at 735 Elm St. in downtown Winnetka. The 8,000-square-foot facility, which includes retail, apartments and garages, was sold to an undisclosed local owner.
HOUSTON — Dallas-based Urban Partners and Gables Residential have topped out Phase I construction of WEST AVE, a mixed-use development located at the corner of Kirby Drive and Westheimer Road in Houston. Located on 5 acres, the project’s first phase will consist of a seven-story building containing 180,000 square feet of retail space on the bottom two floors, and 390 luxury apartments on the top five floors. Residential units will average 1,070 square feet, and will be available for occupancy this August. The retail space will become available in August 2009; 45,000 square feet of the space has already been designated for food and beverage tenants, including a small grocery concept. Restaurants already committed to WEST AVE include Pie Bar, The Social House, Swig, Cru and Wildfish. A new road named West Ave. Street, which runs north to south through the project, is scheduled for completion in June. WEST AVE is being designed by Memphis, Tenn.-based Looney Ricks Kiss. Additional phases of WEST AVE will be announced at a later date.
MILWAUKEE — Indianapolis-based Lauth has unveiled its proposed Bradley Center project, a mixed-use retail/entertainment development located on 12 acres adjacent to Milwaukee’s Bradley Center. In addition to a parking garage, the 500,000-square-foot, multi-level development will include space for major anchor tenants, junior anchors, small shops, and dining and entertainment venues. A more detailed plan of the development’s multiple phases will be presented to the city in the next year. If market demand warrants, future phases could include high-rise office, hotel and residential towers. Expansion of the project north into the Park East area is dependent on the development’s initial success.
SOUTH BEND, IND. — Indianapolis-based Kite Realty Group Trust has acquired and ground leased separate land parcels from the University of Notre Dame for a mixed-use development project in South Bend. Construction has commenced on the $70 million first phase of Eddy Street Commons, which will include retail, office and apartment components. Future phases of the development include a 1,281-space parking garage, two Marriott hotels and for-sale residential components. The $35 million garage and other infrastructure improvements will be funded by tax increment financing bond proceeds and other city incentives. Kite Realty and White Lodging, the company’s hotel joint venture partner, assumed ownership of the land for the proposed development of the hotels. This phase is anticipated to include a full-service hotel with upscale condominiums on the top floors and a limited-service hotel. A variety of condos and townhomes will be delivered in future phases based on market demand.
FRANKLIN, TENN. — Brentwood, Tenn.-based Coda Development has broken ground on Camden Commons at Gateway Village, a $70 million, 130,000-square-foot mixed-use center at the 60-acre Gateway Village development in Franklin. The European-style project will feature retail space, restaurants, offices and 190 residences. Phase one will include a single-story retail building and a three-story building featuring residential lofts and street-level retail, totaling 55,000 square feet. The mixed-use development is located at the intersection of Moore’s Lane and Franklin Road. Construction will begin in June on phase one and complete next spring, and Gateway Village is expected to complete construction in 2011.
SAN DIEGO — Affordable Housing has acquired a 20,000-square-foot property, which is located at 1050 B St. in San Diego, for an undisclosed price. The company plans to develop Ten Fifty B, a 23-story mixed-use project, on the site. The project will feature 229 studio, one-, two- and three-bedroom apartments and approximately 14,000 square feet of retail space. Completion is slated for spring 2010. The seller, The Smiedt Children’s Trust and the Josephson Children’s Trust, received a combination of cash and retail space in the transaction. Timothy Winslow and Jason Kimmel of Grubb & Ellis|BRE Commercial represented the seller; the buyer was self-represented.
DALTON, GA. — Opus South Corp. is developing Hammond Creek, a 168-acre mixed-use project in Dalton, located at the northwest corner of North Dalton Bypass and Underwood Road. The development will feature 1.2 million square feet of retail space, which will be built in three phases. Additional phases will include apartments, senior housing and an office component. Construction is slated to begin next year. Colliers Spectrum Cauble brokered the land transaction on behalf of Opus and will also market the project.
NEW YORK CITY — The Metropolitan Transit Authority (MTA), along with Governor David Paterson and Mayor Michael Bloomberg, have announced the conditional selection of the Related Cos. and Goldman Sachs to develop the $1 billion Hudson Yards project in New York City. Comprised of the Western Rail Yard and the Eastern Rail Yard, the development team plans to turn the area into a dynamic mixed-use neighborhood that will feature affordable housing, retail stores, restaurants, office space, an expansive public space as well as galleries, arts and culture. The extension of the #7 line is expected to make the area a thriving transit oriented community. The joint venture was selected after Tishman Speyer withdrew its bid for the project.
SAN FRANCISCO — Thornton Tomasetti Inc. has been selected to team up with Pelli Clarke Pelli Architects to provide structural design services for Transbay Transit Center in San Francisco. The new center will centralize the region’s transportation network by accommodating nine transportation systems, including AC Transit, Caltrain, MUNI, Golden Gate Transit, SamTrans, Greyhound, BART, WestCAT and the future California High-Speed Rail. For the centerpiece of the project, the design team has proposed transforming the roof of the transit center into a public park, City Park. The 5.4-acre park would feature attractions and amenities that characterize urban green spaces. The 40-acre redevelopment area surrounding the terminal station will be developed into residential and retail components.