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Mixed-Use

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AcquisitionsDevelopmentMixed-UseTexas

Trademark Acquires 470,000 SF Shopping Center in Arlington, Plans $150M Redevelopment

by Taylor Williams

ARLINGTON, TEXAS — Fort Worth-based investment firm Trademark Property Co. has acquired Lincoln Square, a 470,000-square-foot regional shopping center in Arlington, with plans to redevelop the 45-acre site into a mixed-use destination with office and multifamily components. To that end, Trademark has entered into a 30-year public-private partnership agreement with the City of Arlington to invest $150 million into the property over the next six years, with the city committing $14.2 million under the terms of the agreement. Current tenants at Lincoln Square include Studio Movie Grill, Ulta Beauty, Michaels and PetSmart. The seller and sales price were not disclosed. Chris Harden and Kris Von Hohn of Cushman & Wakefield brokered the deal. Beth Lambert, also with Cushman & Wakefield, arranged acquisition financing on behalf of Trademark Property Co.

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IndianaLoansMidwestMixed-Use

First Internet Bank Provides $59M Construction Loan for $300M Hobbs Station Project in Plainfield, Indiana

by Kristin Harlow

PLAINFIELD, IND. — Indiana-based First Internet Bank has provided a $59 million construction loan for Hobbs Station, a $300 million mixed-use project in the Indianapolis suburb of Plainfield. Phase I calls for 293 apartment units, 30,000 square feet of retail space and 400 parking spaces. Crossroads Realty Advisors arranged the loan on behalf of the borrower, Indianapolis-based New City Development. The project was first announced earlier this year.

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DevelopmentGeorgiaLoansMixed-UseMultifamilySoutheast

PMG, Greybrook Secure $182M Construction Loan for Society Atlanta Mixed-Use Tower

by John Nelson

ATLANTA — PMG and Canadian private equity firm Greybrook have obtained a $182 million construction loan for Society Atlanta, a 31-story mixed-use tower underway at 811 Peachtree St. in Midtown Atlanta. JLL arranged the financing through a major U.S. life insurance company and Related Fund Management. Designed by architecture firm Cooper Carry, Society Atlanta will feature 460 apartments, 82,000 square feet of Class A office space and 15,500 square feet of ground-floor retail space. Planned amenities include a pool deck with grilling and lounge areas, a large coworking lab with private conference rooms and a gym with a fitness studio. Cushman & Wakefield is leasing the office space, and Bridger Properties is leasing the retail space. Juneau Construction Co. is the general contractor for Society Atlanta, which broke ground in May 2022 and is slated for completion in late 2024. PMG has over 8,500 units planned for its Society Living brand in markets such as Miami, Fort Lauderdale, Orlando, Nashville, Denver and Brooklyn, with more to be announced soon.

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Affordable HousingDevelopmentLoansMixed-UseMultifamilyNew YorkNortheastRetailTop Stories

Cushman & Wakefield Arranges $142.9M in Construction Financing for Mixed-Use Project in Brooklyn

by Jeff Shaw

NEW YORK CITY — Cushman & Wakefield has arranged $142.9 million in construction financing for 120 Fifth Avenue, a mixed-use development in the Park Slope neighborhood of Brooklyn. The borrowers, Senlac Ridge Partners and The William Macklowe Company, are redeveloping the two-acre site, currently a one-story vacant grocery store and its parking lot, into a 212,000-square-foot mixed-income housing property and retail plaza. The project will comprise two buildings featuring 180 residential units, 25 percent of which will be affordable. The development will also offer 67,000 square feet of retail space and a 225-space underground parking garage. Lidl Supermarket and CVS Pharmacy recently signed long-term leases for approximately 35,000 square feet of the retail space with the developer. An expected date for project completion was not disclosed. The property is located four blocks from Flatbush Avenue and Barclays Center, the home of the NBA’s Brooklyn Nets, and is within walking distance to the 2, 3, 4, 5, B, D, N, Q and R trains. Cushman & Wakefield’s Equity, Debt & Structured Finance team of Gideon Gil and Lauren Kaufman represented the borrowers in the transaction. Macklowe and Senlac Ridge acquired the development site, the former home to Key Foods, in 2020. …

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AcquisitionsDevelopmentMixed-UseSoutheastTennessee

Newmark Secures $66M Land Sale in Midtown Nashville, Buyer Plans Mixed-Use Project

by John Nelson

NASHVILLE, TENN. — Dairy Farmers of America (DFA), represented by Tarek El Gammal and Vincent Lefler of Newmark, has sold a 3.2-acre parcel in Nashville. Bosa Development acquired the land for $66 million. Located at 1401 Church St., the site is part of the Midtown submarket and will be developed as a mixed-use property. John Shaunfield, Kyle Jett and Chris Murphy of Newmark’s Dallas office also provided transactional support. Details about the construction timeline or project design were not disclosed.

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Teravalis-Community-Entrance--Conceptual-Rendering-Courtesy-of-The-Howard-Hughes-ID-eb679e3cf8b4
ArizonaDevelopmentMixed-UseTop StoriesWestern

Howard Hughes Breaks Ground on 37,000-Acre Teravalis Mixed-Use Project in Phoenix

by Taylor Williams

PHOENIX — Dallas-based developer Howard Hughes Corp. (NYSE: HHC) has broken ground on Teravalis, a 37,000-acre master-planned community that will be located in the West Valley area of Phoenix. Preliminary plans for the development call for 100,000 single-family homes and 55 million square feet of commercial space. Previously known as Douglas Ranch, the project marks the largest master-planned community in the state, according to the development team. Teravalis — the name of which means “land of the valley” — will be developed with an emphasis on public space and the natural environment. Ecological sustainability will also be a focal point of the construction process. “Teravalis is an eco-friendly, sustainable community that sets the bar high for other cities to model,” says Eric Orsborn, mayor of Buckeye, a city located roughly 35 miles west of Phoenix. Arizona Gov. Doug Ducey also credits the development with “answering the call” of increased housing demand. “Since 2015, Arizona has welcomed over 584,000 new residents, and we don’t expect that momentum to stop anytime soon,” says Ducey. “This increases the demand for housing opportunities, and Howard Hughes is providing quality housing options for current and future Arizonans.” The development team also notes that the location …

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The-Oliver-Central-Dallas
DevelopmentMixed-UseMultifamilyTexas

De La Vega, StreetLights Break Ground on 27-Acre Mixed-Use Development in North Dallas

by Taylor Williams

DALLAS — Two locally based firms, De La Vega Development and StreetLights Residential, have broken ground on Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway. The initial phase comprises a park within the center of the site, development of which will be led by De La Vega, and The Oliver, an apartment building that StreetLights will develop in partnership with Mitsui Fudosan America. Both pieces of the project are slated for December 2023 completions. Units at The Oliver will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, coworking space, resident lounge and a dog park. Additional plans for The Central ultimately call for more than 4 million square feet of office, residential and retail/restaurant space, as well as dedicated open green spaces and event areas. Steve Williamson of Transwestern arranged the land sale between De La Vega Development and Streetlights Residential.

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OAK-Oklahoma-City
DevelopmentLoansMixed-UseOklahomaTexas

JLL Arranges $100M Construction Loan for Oklahoma City Mixed-Use Project

by Taylor Williams

OKLAHOMA CITY — JLL has arranged a $100 million construction loan for OAK, a mixed-use project in Oklahoma City. Jeremy Sain of JLL arranged the financing through an undisclosed lender on behalf of the borrower, Veritas Development. At full build-out, the development will consist of 320 residential units, 260,000 square feet of office space, 250,000 square feet of retail space, a 133-room boutique hotel and 7,000 square feet of public green space, all connected by walking paths. Retail tenants that have already committed to OAK include RH, Arhaus and Capital Grille.

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Leasing ActivityMixed-UseNorth CarolinaOfficeSoutheast

Google Fiber Signs Long-Term Office Lease at Camp at North End in Charlotte

by John Nelson

CHARLOTTE, N.C. — Gigabit-speed internet provider Google Fiber has signed a 10-year lease at Camp at North End, a 76-acre adaptive reuse development in north Charlotte. The company will occupy 5,884 square feet at the historic Gama Goat Building, located at 1801 N. Graham St. John Christenbury of CBRE represented Google Fiber, which will relocate from its current Charlotte headquarters space at the Phillip Carey building in Uptown’s First Ward Park neighborhood. Jessica Brown and David Dorsch of Cushman & Wakefield represented the landlords, ATCO Properties & Management and Shorenstein Properties LLC. Other office tenants at Camp at North End include Kingsmen Software, Centene Corp., Ally Financial, AON and CloudGenera. Google Fiber is working with Alliance Architecture and Swinerton on the build-to-suit space at the Gama Goat Building, which the firm will occupy beginning in early 2023.

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DevelopmentIllinoisMidwestMixed-UseMultifamilyRestaurantRetailSeniors HousingTop Stories

Centennial Expands Redevelopment Plans for Hawthorn Mall in Vernon Hills, Illinois

by Jeff Shaw

VERNON HILLS, ILL. – Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store and 109,000 square feet of open-air retail. The center started its redevelopment with the 2020 unveiling of Center Park, a 15,190 square-foot outdoor space in the mall’s former Center Court. Center Park features both lawn games and soft furnishings. The expanded plan calls for the relocation of 250 apartments to create a larger outdoor public plaza to increase pedestrian access to the mall and a new main entrance for the shopping center. Hawthorn 2.0 will also create more retail, restaurant and entertainment space surrounding the exterior of the Hawthorn Row integrated streetscape. “The expansion of our Hawthorn 2.0 plans enhances the original vision we had for the center as a …

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