Mixed-Use

CBRE Investment Management Acquires Sylvan Supply Mixed-Use Development in Nashville

by Julia Sanders January 26, 2022

NASHVILLE, TENN. — CBRE Investment Management, on behalf of the Strategic Partners U.S. Value 9 fund, has acquired Sylvan Supply, an eight-building, 193,663-square-foot mixed-use development in Nashville. The sellers are the project’s developers: FCP and Third & Urban. The sales price was not disclosed. Originally built in 1959, Sylvan Supply was formally used as a specialty wood mill. Between 2018 and 2020, the site was redeveloped by FCP and Third & Urban. Now, the property includes about 158,000 square feet of creative office space and 36,000 square feet of retail space. The property was 61 percent leased at the time of sale to five restaurants and a variety of other retail tenants, including a brewery, fitness studio and a salon. In addition to creative office space, Sylvan Supply offers a common area, Wi-Fi and numerous outdoor plazas for retail and dining, in addition to private patios for office tenants. The site offers abundant parking for tenants and visitors. Located at 4101 Charlotte Ave. on a 7.8-acre site, Sylvan Supply is situated less than four miles from downtown Nashville.

January 26, 2022

Illinois Loans Midwest Mixed-Use

ACRES Provides $30.5M Acquisition Loan for Development Site in Chicago’s Fulton Market

by Kristin Harlow January 21, 2022

CHICAGO — ACRES Capital Corp. has provided a $30.5 million loan for the acquisition of a 19-acre parcel located at 1200 Fulton St. in Chicago’s Fulton Market. The borrower, Fulton Street Cos., plans to develop the site into two office and retail buildings totaling 749,250 square feet as well as a 380-unit apartment tower. Steve Skok of Berkadia arranged the loan, while Justin Seitenbach of ACRES originated the loan.

January 21, 2022

Development Mixed-Use Multifamily Office Retail Texas Top Stories

Rockhill Capital Plans 1,807-Acre Shoop Ranch Mixed-Use Development Near Fort Worth

by Jeff Shaw January 20, 2022

NEW FAIRVIEW, TEXAS — Rockhill Capital and Investments has acquired Shoop Ranch, a 1,807-acre plot of land in New Fairview. The tiny city of fewer than 2,000 residents is located approximately 30 miles northwest of downtown Fort Worth. Rockhill plans to build a massive mixed-use project on the site, which will include 4,150 single-family homes, 900 multifamily residences, shops, restaurants, offices, public spaces and government buildings such as schools, a town hall, public pool and fire station. “The [city] council and staff are focusing on maintaining our current rural feel, natural elements and open space, while creating a development and city center where people can live, work and play,” says Ben Nibarger, New Fairview’s city administrator. He notes that the city and Rockhill have been planning the development for about a year. “New Fairview is in a position for growth, and we are working with the city to thoughtfully plan a thriving community that will satisfy the needs for a city hub and additional housing, while also celebrating the area’s natural beauty,” says Jennifer Alexander, project manager at Rockhill Capital and Investments. The Shoop Ranch property features more than 1.5 miles of Oliver Creek, which offers fishing locations for bass …

January 20, 2022

Development Mixed-Use Multifamily Southeast Top Stories Virginia

JBG Smith Begins Construction on Two Apartment Towers in Metro DC’s National Landing District

by John Nelson January 18, 2022

ARLINGTON, VA. — JBG Smith (NYSE: JBGS), an owner and developer of mixed-use properties in the greater Washington, D.C. market, has begun construction on a pair of multifamily towers at 2000 and 2001 South Bell Street in Arlington. The development is expected to bring 775 apartments and nearly 27,000 square feet of retail space to National Landing, a neighborhood anchored by Amazon’s HQ2 campus and the Virginia Tech Innovation Campus, both of which JBG Smith is developing. “The start of construction at 2000 and 2001 South Bell Street is a major milestone in National Landing’s ongoing transformation and delivers on our pledge to build new housing in lockstep with Amazon and Virginia Tech’s growth in the neighborhood,” says Bryan Moll, executive vice president of development at JBG Smith. KPF designed 2000 South Bell Street to be a modern, 25-story glass tower with 355 multifamily units situated above approximately 15,000 square feet of street-level retail space. The adjacent 2001 South Bell Street was designed by Studios to be a 420-unit, 19-story tower with a green-glazed brick façade and approximately 10,000 square feet of street-level retail space. SK+I will serve as the architect of record for both towers, which are designed to …

January 18, 2022

Development Georgia Loans Mixed-Use Southeast

Newport RE Receives $75M Financing for Mixed-Use Campus in Downtown Atlanta

by Julia Sanders January 14, 2022

ATLANTA — Newport RE has received $75 million in debt financing in order to redevelop 222 Mitchell, a 330,000-square-foot mixed-use campus in downtown Atlanta. JLL Capital Markets arranged the financing through Miami-based BridgeInvest on behalf of Newport. General contractor Balfour Beatty has started construction for 222 Mitchell, which is slated for completion in the first quarter of 2023. 222 Mitchell, which will include office and retail space, is a redevelopment of a brick building built in 1909, as well as two mid-century modern buildings spanning a full city block. The property will include a new park and a 27,000-square-foot rooftop. Newport plans to keep the historical elements of the property while redeveloping the buildings to make it more modern. Some planned tenants for the development include Pins Mechanical, an Ohio-based arcade and game bar, as well as an Atlanta-based Slater Hospitality that will be designed as a modern diner with a cocktail lounge.Some planned tenants for the development include Pins Mechanical, an Ohio-based arcade and game bar, as well as an Atlanta-based Slater Hospitality that will be designed as a modern diner with a cocktail lounge. Brooke Dewey and David Horne of JLL are leading the preleasing of the 250,000-square-foot …

January 14, 2022

Acquisitions Mixed-Use Nevada Office Restaurant Retail Western

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216M

by Amy Works January 13, 2022

LAS VEGAS — Beverly Hills, Calif.-based 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the asset for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave Alleman of Marquis Aurbach Coffing served as counsel for the seller.

January 13, 2022

Development Mixed-Use Texas

Goldenrod to Develop Mixed-Use Project in Fort Worth’s West Seventh District

by Taylor Williams January 12, 2022

FORT WORTH, TEXAS — Nebraska-based investment and development firm Goldenrod Cos. will build a new mixed-use project in Fort Worth’s West Seventh District that will consist of 147 multifamily units, 99,400 square feet of office space and 11,600 square feet of retail and restaurant space. Known as The Van Zandt, the development will include the first speculative office project built in Fort Worth since 2017. Residential amenities will include a pool and a fitness center, as well as indoor and outdoor lounges and meeting areas. Construction is slated to begin during the first quarter. Stream Realty Partners has been tapped to lease the office space.

January 12, 2022

Colorado Development Hospitality Mixed-Use Multifamily Retail Western

Avison Young Brokers Sale of 9.1-Acre Site in Pueblo, Colorado for Mixed-Use Project

by Amy Works January 10, 2022

PUEBLO, COLO. — Avison Young has brokered the sale of 9.1 acres of vacant land located at the southwest quadrant of US Highway 50 and Interstate 25 in Pueblo. 610 RLLLP sold the property to Conifer, Colo.-based BEP Pueblo LLC, an affiliate of Blueline Equity Partners, for an undisclosed price. The buyer plans to develop of the land into a mixed-use project, including residential, hospitality and possibly retail space. Completion is slated for 2023. Rick Egitto of Avison Young’s Denver office represented the seller in the deal.

January 10, 2022

Acquisitions Mixed-Use Texas

Fowler Property Buys Kirby Collection Mixed-Use Property in Houston for $182M

by Taylor Williams January 7, 2022

HOUSTON — Fowler Property Acquisitions, a San Francisco-based investment firm, has purchased The Kirby Collection, a mixed-use property in Houston that consists of 199 multifamily units and roughly 291,000 square feet of commercial space, for $182 million. Built in 2018 on the city’s west side, The Kirby Collection comprises a 25-story apartment complex, a 182,000-square-foot office building and a 60,000-square-foot retail building. Thor Equities sold the property for a per-unit price of approximately $425,000 and a per-square-foot price of $400. Fowler will implement a capital improvement program and rebrand the development as Arrive Upper Kirby.

January 7, 2022

Development Mixed-Use New York Northeast Top Stories

Howard Hughes Corp. Receives Municipal Approval for $850M Mixed-Use Project in Manhattan’s Seaport District

by Taylor Williams January 3, 2022

NEW YORK CITY — The Howard Hughes Corp. (NYSE: HHC) has received approval from the City of New York for the development of an $850 million mixed-use project in Manhattan’s Seaport District. The 26-story building at 250 Water St. will house office, retail and multifamily uses, with the housing component comprising 80 percent market-rate and 20 percent affordable units. The residential element of the project will also include for-sale and for-rent units. More specifically, current plans for the 324-foot-tall building call for 270 multifamily units to be developed above five stories of office and retail space. The site currently houses a parking lot that spans a full city block. Skidmore, Owings & Merrill is the architect of the project, which was originally announced in October 2020. The Dallas-based developer estimates that the project will generate more than $1 billion in economic impact, including the creation of more than 3,000 construction and permanent jobs. Howard Hughes Corp. plans to begin remediation of the site this year, with the commencement of vertical construction to occur after that process is completed. “This project will play a vital role in New York City’s recovery through the creation of a new mixed-income rental building, office …

January 3, 2022

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