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Mixed-Use

DevelopmentLeasing ActivityMixed-UseNorth CarolinaRestaurantRetailSoutheast

Massage Studio, Brewery Sign Leases Totaling 5,000 SF at Oakhurst Commons in Charlotte

by John Nelson

CHARLOTTE, N.C. — Two tenants have signed leases at Oakhurst Commons, a 135,000-square-foot adaptive reuse project currently underway in Charlotte. Massage studio Mood House will lease 3,000 square feet, marking the brand’s second Charlotte location. Additionally, Pop the Top Craft Beer will open a 2,000-square-foot brewery with outdoor patio space. A joint venture between MDH Partners and Parkside Partners acquired the property — located at 4000 Monroe Road and formerly home to a five-building office, warehouse and lab facility — in 2021. Upon completion, the development will include 120,000 square feet of office space and 15,000 square feet of retail space. Alex Mann of Thrift Commercial Real Estate Services handles leasing for the project.

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CaliforniaDevelopmentMixed-UseOfficeTop StoriesWestern

Fox Corp. Plans $1.5B Expansion to Historic Fox Studio Lot in Los Angeles, Including New Office Towers

by John Nelson

LOS ANGELES — Fox Corp. has submitted plans to the City of Los Angeles to expand the historic Fox Studio Lot as part of a project known as “The FOX FUTURE Studio Lot Project.” The plan is expected to cost approximately $1.5 billion and generate $9 million in annual tax revenues. The Fox Studio Lot currently comprises 1.8 million square feet across 96 buildings. The FOX FUTURE Studio Lot Project would add 1.6 million square feet of new development, including nine new soundstages, as well as production facilities and a 24-story media campus office building. The media campus office is intended to receive LEED Platinum certification and will feature shared and private offices designed for film and TV production. Fox is seeking a development partner to construct a 35-story building toward the northeast section of the Fox Studio lot that will directly connect to the studio lot and the Century City subway station, but will function as independent office space. This building will also be designed with LEED Platinum certification in mind. Plans also call for upgrades to existing facilities, a historic preservation plan for key buildings, seismic retrofits of older buildings and a renovation of Fox Sports Studio A. “The Fox …

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Affordable HousingCivicDevelopmentFloridaLoansMixed-UseMultifamilyRetailSoutheastWalker & Dunlop

Walker & Dunlop Arranges $51M Construction Financing for City Hall, Affordable Housing Project in South Florida

by John Nelson

OAKLAND PARK, FLA. — Walker & Dunlop has arranged $51 million in construction financing for Sky Building, a mixed-use development located in the South Florida city of Oakland Park. The borrower, locally based NRI Investments, previously signed a development agreement, lease agreement and purchase and sale agreement for the 2.1- acre site with the City of Oakland Park. Sky Building will house 136 affordable and workforce units, which are connected by a skybridge to the City of Oakland Park’s new City Hall, alongside roughly 15,000 square feet of ground-floor retail space. The site is within an opportunity zone approximately three miles north of downtown Fort Lauderdale. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, David Strange and Keith Melton of Walker & Dunlop arranged the financing via senior construction lenders and debt and equity funds. The financing was underwritten at 80 percent loan-to-cost and is non-recourse through the capital stack, according to Walker & Dunlop. The construction timeline for Sky Building was not disclosed.

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Leasing ActivityMarylandMixed-UseOfficeSoutheast

Logistics Firm Signs 64,000 SF Office Lease at Metro Center at Owings Mills in Metro Baltimore

by John Nelson

OWINGS MILLS, MD. — Element Fleet Management Inc., a global fleet management firm for the automotive industry, has signed a 64,000-square-foot office lease at Metro Centre at Owings Mills, a mixed-use development in the Baltimore County city of Owings Mills. Kevin Keane of David S. Brown Enterprises negotiated the lease transaction. Element Fleet expects to occupy the space by the end of the year with 250 employees onsite. The new office is a relocation of the firm’s East Coast headquarters. In addition to Class A office space, Metro Centre features the Owings Mills Metro station, shops, restaurants, apartments and the newly opened Marriott Owings Mills Metro Centre Hotel & Conference Center. Other tenants at Metro Centre include The Tillery Restaurant and Bar, Baltimore County Public Library, World of Beer, Bee Inspired Honey House, Club Pilates, Eggspectation, Gannett Fleming, BDO, Myers & Stauffer and SB & Co.

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ArkansasDevelopmentLeasing ActivityMixed-UseRestaurantRetailSoutheast

SJC Ventures Adds Firebirds Wood Fired Grill to Pinnacle Springs Mixed-Use Development in Rogers, Arkansas

by John Nelson

ROGERS, ARK. — Atlanta-based SJC Ventures has signed casual American restaurant chain Firebirds Wood Fired Grill to join the tenant roster at Pinnacle Springs, a mixed-use development underway in Rogers. The 80,498-square-foot development will be anchored by Whole Foods Market. Construction at the site, located at the corner of West Seneca Road and South Promenade Boulevard, will begin this spring. Firebirds Wood Fired Grill is tentatively planned to open in the fourth quarter of 2024. Tina Howard of SJC Ventures is leading the leasing assignment for Pinnacle Springs. The developer plans to announce more tenants in the near future. North Carolina-based Firebirds Wood Fired Grill has more than 60 locations across the country, and the Pinnacle Springs location will be its first in Arkansas.

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DevelopmentGeorgiaMixed-UseSoutheast

Balfour Beatty Completes Redevelopment of Krog District in Atlanta

by John Nelson

ATLANTA — Working on behalf of owner Asana Partners, general contractor Balfour Beatty has completed construction of the Krog District redevelopment in Atlanta’s Inman Park neighborhood. Designed by architect ASD | SKY, the project featured site improvements and enhancements to existing properties at Krog District, including the Krog Street Market food hall, as well as two newly constructed mixed-use buildings with retail and office space. The new four-story building and attached five-story parking deck adjacent to Krog Street Market involved the demolition of an existing office structure. Balfour Beatty delivered the building in shell condition for future interior upfits by tenants. Level one is slated for street-facing retail, and the remainder of the building is designated as office space. The new parking deck offers 186 spaces and is already open to the public. The 33,000-square-foot, three-story building at Lake Avenue Northeast and Krog Street Northeast abuts the Atlanta BeltLine’s Eastside Trail and provides new access to Krog Street Market. The building will feature retail and office tenants and was also delivered in shell condition. The redevelopment project also features upgrades to the existing Atlanta Stove Works retail and office building, including landscape and hardscapes, new storefront systems and façade updates, …

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DevelopmentIllinoisMidwestMixed-UseTop Stories

Development Team Moves Forward With $895M Mixed-Use Project in Chicago’s Woodlawn Neighborhood

by Kristin Harlow

CHICAGO — Woodlawn Central LLC is moving forward with the development of Woodlawn Central, an $895 million mixed-use project spanning eight acres in Chicago’s Woodlawn neighborhood. The development team recently hired Transwestern Real Estate Services as its commercial real estate services provider. Woodlawn Central is poised to transform the area into a walkable, transit-oriented district with easy access to civic amenities such as the Obama Presidential Center, Jackson Park, the Museum of Science and Industry and the University of Chicago. Woodlawn’s Apostolic Church of God conceived and planned the project. The Network of Woodlawn, which was founded in 2009 to improve the neighborhood’s quality of life by building infrastructure to support better education, safety, health and economics, gave substantial input on the project. In addition to 870 homes ranging from affordable workforce options to market rate, luxury and seniors housing, Woodlawn Central will support a diverse range of Black businesses, creators, innovators and residents with much-needed community assets. Plans call for a 154-room hotel, small performance theater, vertical greenhouse and microgrid energy facility. The retail, hospitality, cultural, service, tech and transit options have been planned to nurture Black-owned businesses and generate employment opportunities for residents. According to the development team, …

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DevelopmentFloridaLeasing ActivityMixed-UseRetailSoutheast

Fitness Concept Signs 38,400 SF Lease at Grove Central Mixed-Use Development in Miami

by John Nelson

MIAMI — Club Studio, a fitness retail concept and part of Fitness International LLC, has signed a 38,400-square-foot lease at Grove Central, a mixed-use development underway in Miami’s Coconut Grove neighborhood. A joint venture between Miami-based developers Terra and Grass River Property is developing Grove Central, which is expected to open in 2024. The project will feature a 23-story residential tower with 402 multifamily, workforce and co-living units, a new 1,250-space public parking garage and a total of approximately 170,000 square feet of neighborhood-oriented retail space. Other retailers committed at the project include Target, Sprouts Farmers Market, Total Wine and Five Below. Grove Central is situated adjacent to the Coconut Grove Metrorail station, The Underline linear park and U.S. Highway 1.

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DevelopmentHealthcareIllinoisMidwestMixed-Use

Unibail-Rodamco-Westfield to Add 200,000 SF of Healthcare Space at Westfield Old Orchard Mall in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Unibail-Rodamco-Westfield has unveiled plans to add up to 200,000 square feet of healthcare space to its redevelopment of Westfield Old Orchard mall in Skokie. The medical space is expected to be available for leasing in 2024. Greg Gerber and Chris Cummins of JLL will handle the leasing assignment. In 2022, Unibail-Rodamco-Westfield unveiled plans for the redevelopment of Westfield Old Orchard mall to include health and wellness amenities, luxury residences and open green space. Currently, there are 17 restaurants, 143 retailers, two fitness studios and 1.7 million square feet of retail space.

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LoansMixed-UseMultifamilyNew JerseyNortheastTop Stories

Greystone Provides $257.2M Refinancing for 1,155-Unit The Beacon Apartments in Jersey City

by John Nelson

JERSEY CITY, N.J. — Greystone, a privately held commercial real estate financial services firm, has provided a $257.2 million loan for The Beacon, a six-building apartment complex in Jersey City totaling 1,155 units. The borrower, Building and Land Technology (BLT), is using the loan to refinance the construction loan stemming from the project’s adaptive reuse of a historic hospital. The Beacon opened as the Jersey City Medical Center Complex in 1936 before its conversion to high-end apartments between the early 2000s and 2016, according to Jersey Digs. Judah Rosenberg of Greystone originated the Freddie Mac loan, which features a 10-year term and fixed interest rate. John Alascio, Alex Hernandez, Alex Lapidus, Mitch Rothstein, Brian Whitmer, Niko Nicolaou and David Bernhaut of Cushman & Wakefield arranged the financing on behalf of BLT. “The property is ideally located at the intersection of three of Jersey City’s most populated neighborhoods and features unparalleled views of the New Jersey Gold Coast and Manhattan,” says Alascio. “The recently redeveloped complex features best-in-class amenities and a thoughtful community design offering tenants a convenient live-work-play environment.” Situated on 14 acres near Jersey City’s Journal Square, McGinley Square and Bergen Lafayette neighborhoods, The Beacon is located within two …

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