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Mixed-Use

Leasing ActivityMixed-UseOfficeSoutheastTennessee

Nextracker Signs 15,960 SF Office Lease at Landings at River North in Nashville

by John Nelson

NASHVILLE, TENN. — Nextracker, a smart solar tracker and software solutions provider, has signed an office lease located at 2200 Bowline Ave. in Nashville. The Fremont, Calif.-based company will occupy 15,960 square feet of space within Landings at River North, a 78,000-square-foot creative office building within the River North mixed-use district along the East Bank of the Cumberland River. Nextracker is relocating its Nashville operations from Metro Center and is expecting to move into Landings at River North in the third quarter. Charlie Gibson of Stream Realty Partners represented the landlord, MRP Realty and Creek Lane Capital, in the lease negotiations. Eric Tomchik and Dave Bruzzone of Newmark represented Nextracker.

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762-764-5th-Ave-San-Diego-CA
AcquisitionsCaliforniaMixed-UseMultifamilyRestaurantRetailWestern

OneSource Funding Acquires 10,000 SF Mixed-Use Building in San Diego

by Amy Works

SAN DIEGO — OneSource Funding LLC has purchased 762-764 5th Avenue, a mixed-use property in San Diego, from Gaslamp Portfolio Management 2 LLC for $4.7 million. Bradley Peters, Ben Tashakorian and Ali Valiahdi of Marcus & Millichap represented the seller and buyer in the transaction. Built in 1902, the 10,000-square-foot property features two residential floors and ground-level restaurant space. The buyer plans to redevelop the residential floors into multifamily units.

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DevelopmentFloridaLoansMixed-UseRetailSoutheast

Aztec Group Arranges $28.3M Construction Loan for Square at Lotis Wellington Retail Center in South Florida

by John Nelson

WELLINGTON, FLA. — Aztec Group has arranged $28.3 million in construction financing for the completion of The Square at Lotis Wellington, the retail phase of the larger 120-acre Lotis Wellington mixed-use development in Wellington, about 16 miles west of West Palm Beach. Boca Raton-based JKM Developers launched the development with its in-house general contractor and now has secured financing from Amerant Bank. Sean Harrington of Aztec Group arranged the financing on behalf of JKM. According to the South Florida Business Journal, the loan will cover nearly 100,000 square feet of two inline retail buildings that will include offices, restaurant outparcels, a daycare and early learning center, as well as a three-level parking garage. The overall mixed-use development of Lotis Wellington is scheduled for completion in the second quarter of this year. Additional phases of the development comprise 372 multifamily units and two medical offices totaling 60,000 square feet.

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LoansMixed-UseNew JerseyNortheast

Eastern Union Arranges $11M Loan for Refinancing of Newark Mixed-Use Building

by Taylor Williams

NEWARK, N.J. — Eastern Union has arranged an $11 million loan for the refinancing of The BLVD, a 71,000-square-foot mixed-use building in Newark. The BLVD is an adaptive reuse of a former office building and is currently under construction. The borrower, Mid-Atlantic Investment Alliance, is converting the property into a 40-unit multifamily building with ground-floor commercial space, with eight units to be designated as affordable housing. Residential amenities will include a rooftop deck, party and game room and a fitness center. Chaim Greenfield, Joseph Sasson and Alex Jaffa of Eastdil Secured arranged the 24-month loan through an undisclosed lender.

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ArizonaDevelopmentMixed-UseOfficeRestaurantRetailWestern

Diversified Partners Opens 11-Acre Mixed-Use Development in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Scottsdale, Arizona-based Diversified Partners has opened Mercy Center, an 11-acre mixed-use development in Gilbert, approximately 22 miles southeast of Phoenix. A mix of retail and office tenants — Galleria Nails, Prizm Dental, Honoré Skin Clinic, Beem Light Sauna, Brickhouse Dental and Willow Midwife — have already opened. Kolache Café and The Cabinet Design Studio are under construction and will soon join the tenant roster. Additionally, Arizona’s largest Starbucks Coffee is open at Mercy Center, which features a two-story design, a 23-car drive-thru, designated mobile order parking, an elevator and rooftop solar panels that supply 80 to 100 percent of the store’s energy needs. The center is designed to serve the needs of the growing medical and residential community surrounding Mercy Gilbert Medical Center and the soon-to-open Phoenix Children’s Hospital – East Valley.

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AcquisitionsDevelopmentHospitalityMixed-UseMultifamilyRetailSoutheastVirginia

Richmond EDA Sells, Transfers 18-Acre Site for $2.4B Diamond District Project

by John Nelson

RICHMOND, VA. — The City of Richmond’s Economic Development Authority (EDA) has sold and transferred an 18-acre parcel to the developer of Diamond District, a $2.4 billion mixed-use development in the Virginia state capital. The developer, an entity led by Thalhimer Realty Partners Inc. called Diamond District Partners LLC, will soon begin construction on public works infrastructure and a mixed-use development on the site. The parcel, called Phase 1A, will include six acres of public infrastructure that will be conveyed back to the city and the EDA upon completion. The remainder of the parcel will house a 180-room hotel, 161 workforce housing units that will be reserved for households earning 60 percent of the area median income, 730 market-rate apartments and 30,000 square feet of commercial space that can be expanded. The land sold for $11.4 million. Phase 1B and Phase 1C of Diamond District will include an additional 177 affordable housing units, 625 market-rate apartments and 126,000 square feet of commercial space. Additionally, CarMax Park, the future home of the Richmond Flying Squirrels Minor League Baseball team, is under construction within the Diamond District and is scheduled to open in 2026. Diamond District Partners LLC anticipates breaking ground on …

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DevelopmentLoansMixed-UseMultifamilyNorth CarolinaOfficeRetailSoutheast

Joint Venture Secures Financing for Office-to-Residential Conversion Project for Former Duke Energy Building in Charlotte

by John Nelson

CHARLOTTE, N.C. — A joint venture between MRP Realty, Asana Partners and Rockefeller Group has received construction financing for Brooklyn & Church, an adaptive reuse project in Charlotte. The project will convert the former Duke Energy headquarters, located at 526 S. Church St., into a 460-unit apartment community with 57,000 square feet of retail space. The financing amount and construction timeline were not disclosed. The Duke Energy headquarters was originally built in 1975. MRP Realty and Asana Partners acquired the building in 2022. The building’s core and shell will be preserved, but the façade will be reskinned with new windows and balconies. Once converted, Brooklyn & Church will comprise 800,000 square feet across 13 stories, with amenities including a rooftop deck and pool with grilling stations, fitness center and spa space, coworking space, bike room and a dog run with pet spa. The property’s loft-style apartments will have 13.6-foot, exposed ceilings. In addition to the apartments and ground-floor retail space, the property will offer a new three-story, 30,000-square-foot retail building at the corner of Church Street and Brooklyn Village Avenue that will be connected to the main building via a 60-foot walkway.

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DevelopmentMixed-UseSouth CarolinaSoutheastTop Stories

Highland Resources Breaks Ground on 192-Acre Magnolia Landing Mixed-Use Project in Charleston

by Kristin Harlow

CHARLESTON, S.C. — Highland Resources Inc. has broken ground on Magnolia Landing, a planned mixed-use community located along the Ashley River in Charleston. Spanning 192 acres, the project will offer a blend of parks, residences, hospitality options, offices, shops, restaurants, waterfront docks, a marina and entertainment options. Full build-out of the multi-phase project is anticipated by 2040. The first residents are expected to take occupancy in 2027. Plans for the first phase include a high-rise waterfront residential community and a mid-rise property both developed by Charleston-based Woodfield Development, offering a total of 600 rental residences, including affordable housing. The first phase will also feature 158 luxury townhomes developed by an undisclosed national developer. Plans also call for multiple office and retail buildings. The first phase will include a waterfront, Class A office building totaling 100,000 square feet in addition to 75,000 square feet of street-level retail, gourmet restaurants and commercial space. Magnolia Landing will also offer a range of hospitality options designed to cater to both short-term visitors and extended stays. The first phase will include a 125-room boutique hotel. The project will incorporate a marina featuring day-dock options, four waterfront restaurants with direct day-dock access, a boat club, monthly …

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Strand-Pier-Hermosa-Beach-CA
AcquisitionsCaliforniaMixed-UseRestaurantRetailWestern

Bolour Associates Sells Beachfront Retail Portfolio in Hermosa Beach, California for $33.5M

by Amy Works

HERMOSA BEACH, CALIF. — Bolour Associates has completed the $33.5 million sale of a beachfront retail portfolio in Hermosa Beach. Situated on nearly one acre, the asset is located at 11-29 Pier Avenue and 1250-1272 The Strand. At the time of sale, the property was 88 percent occupied by beach-centric tenants, including Hermosa Cyclery, Oakberry, Hermosa Beach Trading Co., Waves, Playa Hermosa Fish & Oyster and Heavenly Couture. Tim Kuruzar, Bryan Ley, Brendan McArthur and Tess Berghoff of JLL served as investment advisors in the Strand and Pier transaction. Jeff Sause and Chad Morgan of JLL served as debt advisors.

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DevelopmentMixed-UseMultifamilyRetailSouth CarolinaSoutheast

Flournoy Breaks Ground on 365-Unit District South Apartment Property in Greenville

by John Nelson

GREENVILLE, S.C. — Flournoy Development Group has broken ground on District South, a 365-unit apartment development located on a 21-acre site in Greenville. The property will include five four-story apartment buildings, 12 townhome buildings, three carriage home buildings and 13 retail spaces. Amenities will include a grab-and-go market, lounge, fitness and wellness center, resort-style swimming pool with a courtyard, outdoor entertainment areas, dog park and an indoor pet spa. The project team for District South includes architect Dynamik Design, general contractor McShane Construction and civil engineer Gray Engineering. Flournoy Properties Group will manage the apartment property. The construction timeline was not released.

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