Mixed-Use

NASH to Build Mixed-Use Property Within Nexton Development in Summerville, South Carolina

by John Nelson January 31, 2023

SUMMERVILLE, S.C. — A subsidiary of North America Sekisui House LLC (NASH) plans to develop Dayfield Park, a mixed-use campus set within the company’s Nexton master-planned development in the Charleston suburb of Summerville. Situated on 60 acres near Nexton’s Brighton Park neighborhood, Phase I of Dayfield Park will feature 100,000 square feet of office space and 20,000 square feet of retail and restaurant space across five single-story buildings, as well as additional outparcels. Committed tenants include The Goddard School daycare, HYLO Fitness and Go Dog, a pet daycare, boarding and grooming facility that also features a bar for pet owners. Dayfield Park will be developed in three phases, each with five buildings. The project is expected to bring approximately 500 new jobs to the community. NASH plans to break ground on the project in the summer and deliver the entire campus in 2026. The project team includes leasing brokerage Bridge Commercial, property management firm Brookfield Properties, engineering firm SeamonWhiteside and architectural firms Rush Dixon Architects and Bello Garris Architects.

January 31, 2023

Development Mixed-Use Multifamily Office Restaurant Retail South Carolina Southeast Top Stories

Jamestown Breaks Ground on 79-Acre Navy Yard Redevelopment Project in North Charleston

by Jeff Shaw January 31, 2023

NORTH CHARLESTON, S.C. — Jamestown, along with local real estate developers Weaver Capital Partners and WECCO Development, has broken ground on the first buildings at Navy Yard Charleston, the 79-acre mixed-use redevelopment of a former naval base in North Charleston. This first phase of the redevelopment involves converting two historic storehouses — Storehouse 8 and Storehouse 9 — on the project site into a total of 107,000 square feet of mixed-use space for restaurants, retail, office space and apartments. The buildings are scheduled to open in 2024. The 40,000-square-foot, two-story building known as Storehouse 8 will be restored and repurposed as a restaurant, event space and offices. To preserve the history and character of the building, which was constructed in 1906 as naval administrative offices, the renovation will salvage architectural details such as the original hallways, trim, railings, flooring, slate roof and copper soffits. The adjacent Storehouse 9, a 67,000-square-foot, four-story building constructed in 1918 as naval administration offices and storage facility, will be converted into restaurant and retail space on the ground floor, a rooftop bar and restaurant with views of the Cooper River and 86 multifamily units offering flexible live/work layouts. In addition to the redevelopment of Storehouses …

January 31, 2023

Market Reports Mixed-Use North Carolina Restaurant Retail Southeast Southeast Market Reports

Triangle’s Retail Market Turns New Page Led by Openings of Mixed-Use Developments

by John Nelson January 31, 2023

The retail market across the Raleigh-Durham region, also known as the Triangle, soared to new heights in 2022 despite significant global economic headwinds. Spurred by population growth and major economic development announcements, 2022 was filled with the groundbreaking and opening of new retail and mixed-use projects across the region. For the second consecutive year, North Carolina witnessed record-breaking economic development activity. New and expanding companies announced more than 12,700 jobs and more than $11 billion in new investments in the Triangle region alone. While the urban sectors lagged through 2020 and 2021, they saw a resurgence in 2022 with major tenant announcements for Smoky Hollow (Kane Realty Corp.) such as Midwood Smokehouse, The Crunkleton, Madre, Dose and New Anthem Beer Project. Downtown Raleigh also featured the delivery of 301 Hillsborough at Raleigh Crossing (Barings), Tower Two of Bloc 83 (City Office REIT) and construction of Seaboard Station (Hoffman & Associates). Downtown Durham boasted major groundbreaking, retailer and restaurant announcements as well, including the groundbreaking of Novus (Austin Lawrence Partners), encompassing 23,000 square feet of ground-floor retail space and 27 floors of high-end residential. American Tobacco Campus reimagined its restaurant mix to announce Five Star, Press, Queen Burger and the soon-to-open …

January 31, 2023

Development Maryland Mixed-Use Southeast

ARLS Underway on 35-Acre Bel Air Village Mixed-Use Development in Metro Baltimore

by John Nelson January 30, 2023

BEL AIR, MD. — ARLS Properties LLC is underway on the construction of Bel Air Village, a 35-acre mixed-use community located in Bel Air, roughly 30 miles northeast of Baltimore. Upon completion, the development will feature 115,000 square feet of office and retail space, 252 multifamily units and 24 townhomes. Four freestanding buildings, ranging in size from 7,000 to 11,000 square feet, will comprise the retail component, along with five pad sites of one to two acres each. A 50-unit multifamily building will be completed first, with the additional multifamily buildings to be built next year. Completion of the first phase of the project is scheduled for later this year. Sean Langford and Tom Fidler of MacKenzie Commercial Real Estate Services LLC will handle retail leasing for the development.

January 30, 2023

Florida Loans Mixed-Use Office Retail Southeast

Whalou Properties Receives $24M Financing for Improvement of Mixed-Use Development in Miami

by John Nelson January 30, 2023

MIAMI — Whalou Properties has received $24 million in financing for the improvement and modernization of Mayfair in the Grove, a mixed-use development in Miami’s Coconut Grove neighborhood that comprises 281,721 square feet of office and retail space. Craig Romer of Dockerty Romer & Co. arranged the permanent mortgage financing through Guggenheim Partners on behalf of Whalou, which is owned and controlled by Timo Kipp. Mayfair in the Grove was fully leased at the time of sale to tenants including Sapient, Santander, Sony Music and One Park Financial. Whalou acquired the development in 2010.

January 30, 2023

Development Mixed-Use New York Northeast

Arden Group Underway on 351,000 SF Mixed-Use Project in Manhattan

by Taylor Williams January 30, 2023

NEW YORK CITY — Philadelphia-based development and investment firm Arden Group is underway on construction of a 351,000-square-foot mixed-use project at 4650 Broadway in Manhattan’s Inwood neighborhood. Designed by Handel Architects, the 20-story building will house 222 residential units that will come in studio, one- and two-bedroom formats, with 30 percent of the apartments subject to income restrictions. Residential amenities will include a fitness center, resident lounge, screening room and a children’s play area. In addition, 4650 Broadway will house 120,000 square feet of commercial space. Of that space, 80,000 square feet is earmarked for a charter school or medical office user, and at least 16,000 square feet will be marketed to grocers. Completion is slated for 2025.

January 30, 2023

Development Mixed-Use Office Retail Southeast Virginia

MRP Realty, LaSalle Near Completion of Crystal & Clark Mixed-Use Redevelopment in Metro D.C.

by John Nelson January 27, 2023

ARLINGTON, VA. — MRP Realty and LaSalle Investment Management are nearing completion of the redevelopment and rebranding of Crystal & Clark, previously known as Century Center, in the National Landing neighborhood of metro Washington, D.C. Located at 2450 Crystal Drive and 2461 S. Clark St. in Arlington, the mixed-use development comprises two buildings and spans 639,621 square feet. 2450 Crystal Drive features 336,229 square feet of office space and 51,443 square feet of retail space, 36,000 square feet of which is leased or under negotiation. 2461 South Clark comprises 232,969 square feet of office space and 23,980 square feet of retail space, 5,000 square feet of which is currently leased. Aerospace and defense manufacturing giant Raytheon recently renewed its lease at the development in 2021 for 120,000 square feet of office space across both buildings. The redevelopment has included new access to outdoor seating and gathering areas, the addition of ground-level retail and restaurant space, a pedestrian plaza, streetscape improvements and office improvements including lobby updates, a new conference center, fitness and locker rooms, second- and third-floor terraces and amenity space. Plans for the property also include the construction of a 334,270-square-foot residential tower comprising 302 units and 21,863 square …

January 27, 2023

Development Mixed-Use Texas

Realty Capital Management to Develop 20-Acre Mixed-Use Project in Corinth, Texas

by Taylor Williams January 25, 2023

CORINTH, TEXAS — Locally based developer Realty Capital Management will build The Parkway District, a 20-acre mixed-use project in Corinth. Situated at the corner of I-35 and Corinth Parkway, the site is located about 40 miles northeast of Fort Worth. Plans currently call for 275 market-rate apartments, 16 townhomes, a select service hotel, 22,000 square feet of retail and restaurant space and a central park that connects the various uses. Texas Bank & Trust provided financing for the land acquisition. Construction will begin over the summer.

January 25, 2023

Development Hospitality Mixed-Use Nevada Restaurant Retail Western

LRE & Cos. Reveals Plans for 13-Acre Fernley Promenade Mixed-Use Development in Fernley, Nevada

by Amy Works January 25, 2023

FERNLEY, NEV. — California-based LRE & Cos. has announced plans to develop Fernley Promenade, a 13-acre mixed-use development along Interstate 80 in Fernley. The project will the first shopping center development in Fernley in over a decade. The first confirmed tenant for Fernley Promenade is a 98-room Home2 Suites by Hilton with a swimming pool and fitness center. The development will also feature three junior retail anchors, as well as various dining and shopping options. Retail space, ranging from 1,200 square feet to 20,000 square feet, is currently available for lease. The property can accommodate freestanding buildings with drive-thru, junior anchor and shop space. Shawn Smith and Sean Retzloff of Kidder Mathews will manage leasing for the property.

January 25, 2023

Acquisitions Arizona Development Mixed-Use Multifamily Retail Top Stories Western

Joint Venture Completes Acquisition of Metrocenter Mall in Phoenix, Begins $850M Redevelopment

by Jeff Shaw January 24, 2023

PHOENIX — Concord Wilshire Capital and TLG Investment Partners, in partnership with Carl DeSantis’ CDS International Holdings Inc., have completed the acquisition of the Metrocenter Mall in Phoenix. The development group has formed a strategic alliance with Hines, an international real estate firm, to redevelop and repurpose the Metrocenter Mall into a walkable village that will be home to apartments, condominiums, curated boutiques, popular retail stores, restaurants, bars, a town-center park and other commercial and entertainment venues. The property spans approximately 64.2 acres of land in a Qualified Opportunity Zone. The plans for the village include over 2,600 multifamily units, 150,000 square feet of commercial space and 4,100 surface and garage-deck parking spaces. The development team has also signed agreements with the City of Phoenix for a public-private partnership for public improvements. The purchase includes both the Dillard’s building and U-Haul building, which formerly housed a Macy’s. Developers confirmed the planned $850 million redevelopment of the property will begin immediately. The redeveloped Metrocenter will be designed as a transit-oriented community, encompassing the city’s new light rail station currently under construction on the site. The City of Phoenix invested approximately $150 million to build the station, which is scheduled for completion …

January 24, 2023

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