NEW YORK CITY — Matt Fotis of Marcus & Millichap has completed the $1.66 million sale of a mixed-use property in Brooklyn, New York City. Located at 757 Nostrand Ave., the property was 95 percent vacant at the time of the sale. Fotis represented the undisclosed buyer and seller in the disposition.
Mixed-Use
JACKSONVILLE, FLA. — Jacksonville-based Newcom Development broke ground on the Greenland Commerce Center, a 215,000-square-foot mixed-use center in Jacksonville’s Mandarin district, located on Greenland Chase Blvd. The LEED-certified project will be comprised of seven buildings featuring retail, office, industrial and flex space. Wakefield Beasley’s Jacksonville office designed the project.
NEW YORK CITY — Tanya Khabay and Deanne Draeger of Marcus & Millichap have completed the $11.5 million sale of a development site in the Greenwich Village/Union Square area of Manhattan, New York City. The site, located at 52-54 W. 13th St., includes a vacant mixed-use building as well as air rights that were acquired from 50 W. 13th St. Khabay represented the seller, an undisclosed California trust, and Draeger represented the buyer, an undisclosed Manhattan-based hospitality developer.
MILLS, N.Y. — Thomas Grzebinski of The Rose Hill Group has arranged $3.4 million in permanent financing for The Mill #3 Building, a mixed-use project in Mills. The 104,000-square-foot property features retail tenants, professional offices and service business. The borrower was undisclosed.
FORT WORTH, TEXAS — Hillwood, a Perot company and commercial real estate developer, is on course to open the initial residential phase of the 130-acre mixed-use development Monterra Village next month. The property, located at the southeast intersection of North Tarrant Parkway and Interstate 35W in Fort Worth, is part of the 17,000-acre AllianceTexas master-planned community. The soon-to-be completed residential portion of the development includes 288 of more than 1,000 total units and an 8,500-square-foot clubhouse. The residences are the first completely non-smoking apartments in North Texas. Plans for additional properties in the mixed-use community include a medical office park, neighborhood retail and restaurant spaces, as well as suburban-style office structures with residential spaces above.
WINSTON-SALEM, N.C. — Virginia Beach, Va.-based The Tetra Companies is developing Stafford Place, a $67 million, 36-acre mixed-use development in Winston-Salem. The project will include 266 apartments, 51,000 square feet of office space and 34,560 square feet of retail space. The development is located on Peters Creek Parkway and will be completed in 2011.
NEW YORK CITY — Eastern Consolidated has completed the $24.5 million sale of a six-building portfolio of mixed-use properties throughout the Bronx, New York City. The portfolio contains a total of 30 commercial units and 179 residential units. Four properties — 2195 Grand Concourse, 117 Kingsbridge Rd., 25 Gunhill Rd., and 2424 E. Tremont Ave. — are corner apartment buildings with retail components. The other two properties include 535 E. Tremont Ave. and 4216 Third Ave. Peter Hauspurg, Marcia Rose Yawitz and Harrison Douglas of Eastern Consolidated represented the seller, Intervest Development Corp., and Eastern’s Ronda Rogovin procured the undisclosed buyer in the transaction.
YONKERS, N.Y. — Robin Herko and Steve Lorenzo of NAI Friedland have completed the sale of 49-52 Main St. in Yonkers. The 16,500-square-foot parcel was purchased by an investment group that plans to incorporate the site into a new mixed-use development project. Herko and Lorenzo represented both the undisclosed buyer and seller in the disposition. The sale price was not specified.
ORLANDO, FLA. — Indianapolis-based Premier Properties is developing The Current at Lee Vista, a 800,000-square-foot mixed-use, open-air retail center in Orlando. Located on State Rd. 436 between Lee Vista Blvd. and Hazeltine National Dr., the 85-acre project is being designed by Coral Gables, Fla.-based Beame Architectural Partnership. Deerfield, Fla.-based Sikon Construction is the general contractor. The development is slated for completion in spring 2009.
NORTH OLMSTED, OHIO — Carnegie Management & Development Corp. has completed construction on the third of four buildings comprising North Olmsted Towne Center, a 321,000-square-foot mixed-use project located at the corner of Great Northern Boulevard and Brookpark Road in North Olmsted. When completed, the center will include 249,000 square feet of street-front retail, as well as 72,000 square feet of second-floor office space. The retail portion of the project is anchored by Target; other retail tenants include David’s Bridal, La-Z-Boy Furniture Galleries, Men’s Wearhouse, G&G Fitness, Pearle Vision, Massage Envy, Inkstop, Allcare Dental, Jimmy John’s Gourmet Subs, Moe’s Southwest Grill, Fatburger and Fuji Oishi Japanese Steakhouse. The last building in the development is expected to be complete in the fourth quarter.