Mixed-Use

Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Development Massachusetts Mixed-Use Northeast

King Street Properties Breaks Ground on $915M Allston LabWorks Project in Boston

by Taylor Williams October 21, 2022

BOSTON — King Street Properties has broken ground on Allston LabWorks, a $915 million mixed-use project located near Boston University. The 4.3-acre site at 305 Western Ave. will house a 580,905-square-foot complex with life sciences, multifamily and retail uses. Specifically, Allston LabWorks will comprise 534,000 square feet of life sciences space, 20,000 square feet of retail space and 35 multifamily units, a quarter of which will be reserved as affordable housing. Lastly, the development will feature a 12,000-square-foot public plaza and event space. King Street Properties is developing the project in a joint venture with Brookfield and Mugar Enterprises, with DiMella Shaffer and Consigli Construction Co. respectively serving as the architect and general contractor. The facilities are expected to be available for occupancy by late 2024.

October 21, 2022

California Development Loans Mixed-Use Multifamily Retail Western

JLL Arranges $69M Construction Loan for Centro Callan Mixed-Use Development in San Leandro, California

by Amy Works October 21, 2022

SAN LEANDRO, CALIF. — JLL Capital Markets has arranged $69 million in construction financing for Centro Callan, a mixed-use apartment complex in San Leandro. The borrowers are The Martin Group, Sansome Pacific Properties and STARS REI. Brandon Roth, Spencer Bergthold and Elijah Lax of JLL Capital Markets secured the floating-rate construction loan through Principal Real Estate. The five-story Centro Callan will feature 196 apartments in a mix of studio, one-, two- and three-bedroom layouts with quartz countertops, backsplashes, stainless steel appliances, full-size washers/dryers, wide-plank flooring, kitchen islands, smart access control and oversized patios and balconies in select units. Community amenities include 31,000 square feet of ground-floor retail space anchored by Sprouts Farmers Market, 20,000 square feet of open space, a dog wash station, chef’s entertaining kitchen, clubroom with televisions, indoor phone booths and conference rooms, outdoor work pods, outdoor barbecues and televisions, an outdoor game area and a secret garden.

October 21, 2022

Development Healthcare Leasing Activity Mixed-Use North Carolina Restaurant Retail Southeast

Northwood Investors Adds Two New Concepts to Metropolitan Shopping Center in Midtown Charlotte

by John Nelson October 19, 2022

CHARLOTTE, N.C. — Northwood Investors LLC has added two new tenants to Metropolitan, a mixed-use development and lifestyle shopping center located in Midtown Charlotte. The new concepts include Yuliya’s Ice Cream, a locally based, woman-owned ice cream company founded by Belarusian immigrant Yuliya Shvinhelskaya. The eatery will open at Metropolitan, its first brick-and-mortar shop, in early 2023. The other concept is Removery, the largest specialized provider of tattoo removal services. The company operates nearly 100 locations. Other newcomers to Metropolitan include European Wax Center, Open Rice and Clean Your Dirty Face. In addition to new tenants, Northwood Investors is unveiling the refresh of Metropolitan’s exterior that includes new signage, enhanced lighting along the bike path, colorful banners along Charlottetowne Avenue and South Kings Drive, metal and fabric garage screens and vertical wood and warmer colors throughout. Other upcoming renovations include updated landscaping and interior furnishings.

October 19, 2022

Development Leasing Activity Mixed-Use Retail Southeast Virginia

Comstock Signs Puttshack to Lease at Reston Station Mixed-Use Project in Northern Virginia

by John Nelson October 19, 2022

RESTON, VA. — Comstock Holding Cos. Inc. has signed mini-golf retail concept Puttshack to anchor Phase II of Reston Station, an 80-acre mixed-use project underway in Northern Virginia. Located near the Wiehle-Reston East Metro Station at 1850 Reston Row Plaza in Reston, Puttshack will be the project’s first active entertainment venue when it opens in summer 2025. The more than 29,000-square-foot space will feature four nine-hole mini-golf courses equipped with Puttshack’s proprietary Trackaball technology that keeps track of patrons scores as they play. The venue will also have a full dining menu and hand-crafted cocktails, as well as multiple bars and private event spaces for parties and business outings. Chicago-based Puttshack recently completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments to help fuel the operator’s expansion plans.

October 19, 2022

Development District of Columbia Mixed-Use Multifamily Retail Southeast

Standard Real Estate Investments to Develop $650M Mixed-Use Project in D.C.

by John Nelson October 18, 2022

WASHINGTON, D.C. — Standard Real Estate Investments LP, a minority-owned national real estate investment and development firm with offices in Washington, D.C., and Los Angeles, has purchased the Senator Square and East River Park shopping centers in northeast Washington D.C. The centers span 13 acres and are entitled and programmed for a $650 million mixed-use redevelopment that will bring 1,500 residential units, including approximately 300 affordable housing units, and 120,000 square feet of retail space to D.C.’s Northeast Heights district. National Housing Trust is developing 110 of the project’s 300 affordable housing units in a standalone building. The Black Economic Development Fund, which is managed by affiliates of the Local Initiatives Support Corp., and Forbright Bank provided construction financing for the development. The site is located within walking distance of the Minnesota Avenue Metro Station and near a build-to-suit office project that Trammell Crow Co. is developing for the District of Columbia’s Department of General Services. The construction timeline for the development was not disclosed.

October 18, 2022

Development Florida Mixed-Use Multifamily Southeast

Carter, Hunt Cos. to Build 22-Acre Mixed-Use Project in Lakeland, Florida

by John Nelson October 18, 2022

LAKELAND, FLA. — Atlanta-based Carter has partnered with El Paso, Texas-based Hunt Cos. Inc. to build a mixed-use development in Lakeland’s west downtown district. Carter recently closed on the purchase of the 22-acre site, which fronts Lake Wire and is proximate to the new 168-acre Bonnet Springs Park and RP Funding Center. Situated within an opportunity zone, the project will be built in two phases, the first phase of which will include 300 multifamily units and more than 15,000 square feet of street-level retail space. Patterson Real Estate Advisory Group assisted Carter in arranging the construction financing for the project through Citizens Bank. David Bunch and Lisa Parks Abberger of Hauger-Bunch Inc. represented the undisclosed seller in the land transaction.

October 18, 2022

Development Florida Mixed-Use Multifamily Southeast

Integra Investments to Build 338-Unit Mixed-Use Project in North Miami

by John Nelson October 17, 2022

NORTH MIAMI, FLA. — Integra Investments has received final approval from the City of North Miami to build a 338-unit mixed-use multifamily community located at 13855 N.W. 17th Ave. Called NoMi Square, the project will sit on 7.6 acres and take the form of a seven-story building comprising apartment homes in one-, two- and three-bedroom layouts, as well as four live/work units with commercial space. The property will also feature a 528-foot-long linear public park. Other amenities will include a courtyard with a pool deck and pavilion and a clubhouse with a coffee bar, clubroom, business center, fitness center and yoga and spin room. Designed by Anillo Toledo Lopez Architecture, the project is scheduled to begin construction in 2023, with an 18-month timeline. Integra Investments is investing over $100 million in the community, which will generate 500 jobs during its construction phase.

October 17, 2022

Development Georgia Leasing Activity Mixed-Use Retail Southeast

Third & Urban, FCP to Add Four New Concepts to Westside Paper Project in Atlanta

by John Nelson October 17, 2022

ATLANTA — Third & Urban and FCP have announced the addition of four tenants to the 15-acre Westside Paper development located along the Atlanta BeltLine in Westside Atlanta. Currently under development and scheduled to open in early 2023, Westside Paper, which is centered around a historic 1950s paper warehouse, features 245,000 square feet of mixed-use space. King of Pops, Elsewhere Brewing, Ancestral Bottle Shop + Market and taqueria concept El Santo Gallo will join the retail lineup. Westside Paper’s retail space is now 90 percent leased, with previously announced tenants including Pancake Social, Glide Pizza, Girl Driver and Boxcar Betty’s.

October 17, 2022

Development Loans Mixed-Use North Carolina Office Southeast

Avison Young Arranges $139M Construction Loan for 1000 Social Office Project at Exchange Raleigh

by John Nelson October 13, 2022

RALEIGH, N.C. — Avison Young has arranged a $139 million loan for the construction of 1000 Social, a 12-story trophy office building in Raleigh. The 350,000-square-foot project represents the first phase of vertical construction at The Exchange Raleigh, a $1 billion, 40-acre mixed-use development that will feature nearly 1 million square feet of trophy office space, a park, apartments, stores and restaurants upon full buildout. Wes Boatwright, Michael Yavinsky, Jon Goldstein and Connor Burke of Avison Young’s Structured Finance Group arranged the financing on behalf of the developer, Dewitt Carolinas. The direct lender was not disclosed. The groundbreaking for 1000 Social took place last month, with construction expected to be completed in about 18 months. The new landmark tower will offer 20,000 square feet of ground-floor retail space, outdoor patios, individual bathroom pods on every floor, event center and a parking structure with over 1,500 spaces.

October 13, 2022

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