Mixed-Use

Suffolk to Build 46-Story Mixed-Use Condominium Tower in Downtown St. Petersburg, Florida

by John Nelson August 16, 2022

ST. PETERSBURG, FLA. — Suffolk Construction Co. has been selected to build The Residences at 400 Central, a 46-story mixed-use condominium tower located in downtown St. Petersburg. The 1.3 million-square-foot project will feature 301 condominiums, shops, Class A offices, restaurants and a rooftop observatory with views from Tampa Bay to the Gulf of Mexico. The condos will consist of one- to four-bedroom floorplans, as well as some customized penthouse homes. Residents will have access to more than 35,000 square feet of private indoor and outdoor amenities upon completion. Construction crews are preparing to drill test pilings for the 400 Central tower foundation, which will be immediately followed by the start of foundation work. Red Apple Real Estate and Michael Saunders & Co. are the development team behind 400 Central. The duo established a sales gallery near the site at 465 Central Ave.

August 16, 2022

Development Leasing Activity Mixed-Use Office Southeast Tennessee

JLL Debuts 26,000 SF Flex Coworking Space at Cummins Station in Downtown Nashville

by John Nelson August 16, 2022

NASHVILLE, TENN. — JLL has opened a 26,000-square-foot flex office and coworking space on the top floor of Cummins Station, a mixed-use adaptive reuse development located at 209 10th Ave. S in downtown Nashville. Named prosprCS, the space features private offices, coworking space, meeting rooms, team suites and virtual offices. The space comes equipped with ergonomic furniture, Tier 1 fiber broadband internet access, interactive client portals to book meeting rooms digitally, an onsite hospitality team and in-place audio-visual equipment. JLL is leading the leasing and management operations of prosprCS. Developed and managed DZL Management, Cummins Station spans more than 400,000 square feet and features the Gibson Guitar U.S. headquarters, the Gibson Garage flagship retail store, Smart USA Co., Revive and Outback Presents.

August 16, 2022

Acquisitions Mixed-Use Multifamily North Carolina Southeast

Northmarq Brokers Sale of One City Center Apartments in Downtown Durham

by John Nelson August 12, 2022

DURHAM, N.C. — Northmarq has brokered the sale of the apartments at One City Center, a 28-story mixed-use tower located at 110 Corcoran St. in downtown Durham. Jeff Glenn, Allan Lynch, Andrea Howard, Caylor Mark, John Currin and Sara Wagman of Northmarq represented the seller and developer, Austin Lawrence Partners, in the transaction. The buyer and sales price were not disclosed. Built in 2019, the property features 109 apartments, as well as a rooftop pool and hot tub, fitness center and a courtyard on the sixth floor with an al fresco dining area and fenced dog park. Individual units feature floor-to-ceiling windows, custom quartz countertops and private balconies. One City Center also features 30 for-sale condominiums, 130,000 square feet of office space and 22,000 square feet of retail space that were not part of the transaction.

August 12, 2022

Florida Loans Mixed-Use Southeast

Berkadia Secures $43.5M Refinancing of Mixed-Use Property in Miami’s Design District

by John Nelson August 9, 2022

MIAMI — Berkadia has arranged a $43.5 million loan to refinance a 112,896-square-foot mixed-use property located at 4141 NE 2nd Ave. in Miami’s Design District. Scott Wadler, Matthew Nihan and Michael Basinski of Berkadia’s Miami office secured the financing on behalf of Dacra, a local real estate owner-operator that owns more than 1 million square feet of space. LMF provided the 10-year, fixed-rate loan. The property houses a combination of office and retail tenants, including B&B Italia, Design Within Reach, iHeart Media and MC Kitchen.

August 9, 2022

Development Midwest Mixed-Use Ohio Top Stories

Trinitas Ventures, Crawford Hoying Begin $250M Phase II of Mixed-Use Project in Cincinnati

by Taylor Williams August 8, 2022

CINCINNATI — A partnership between two regional developers, Indiana-based Trinitas Ventures and Ohio-based Crawford Hoying, has started construction of the $250 million second phase of The District at Clifton Heights, a mixed-use project in Cincinnati. The District at Clifton Heights is located across the street from the University of Cincinnati at the site of the former Deaconess Hospital. The first phase of the project centered on construction of The Deacon, an eight-story, 351-bed student housing building that opened in August 2019. Development costs for all phases of the project are estimated at $640 million. The largest piece of the second phase also revolves around student housing. Chicago-based Core Spaces is leading the development of a 14-story tower that will feature 1,112 beds across 380 units. Branded Hub Cincinnati, the project is scheduled for completion in advance of the fall 2024 semester. The other major component of the second phase involves the development of Hotel Celare, a $65 million project. The hotel will rise seven stories, house 171 rooms and 18,000 square feet of meeting space and feature a rooftop bar overlooking the campus entrance. Crawford Hoying is leading the development of the hotel, which is slated for a summer 2024 …

August 8, 2022

Acquisitions Florida Mixed-Use Restaurant Retail Southeast

Rockpoint, Ivanhoe Cambridge Sell Mary Brickell Village Mixed-Use Property in Miami for $216M

by John Nelson August 5, 2022

MIAMI — Boston-based Rockpoint and Montreal-based Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use property also includes an 875-space parking garage. Originally constructed in 2008, Mary Brickell Village underwent renovations between 2018 and 2020.

August 5, 2022

Acquisitions Florida Mixed-Use Office Retail Southeast

Rockpoint, Ivanhoe Cambridge Sell Mary Brickell Village Mixed-Use Property in Miami for $216M

by John Nelson August 5, 2022

August 5, 2022

Development Loans Mixed-Use Multifamily New York Northeast Retail Top Stories

Walker & Dunlop Arranges $388.4M Financing for The Brook Mixed-Use Project in Brooklyn

by Jeff Shaw August 5, 2022

NEW YORK CITY — Walker & Dunlop Inc.’s New York capital markets team has arranged $388.4 million in construction financing for The Brook, a mixed-use development in downtown Brooklyn consisting of 448,000 rentable square feet of multifamily and retail space. Bank of America provided the funds. Apollo Commercial Real Estate Finance Inc., which is managed by an affiliate of Apollo Global Management, and Witkoff are developing the property at the cross-section of Fulton Street, Flatbush Avenue Extension, and DeKalb Avenue, next to Brooklyn landmarks such as the Fulton Mall and the Barclays Center. The mixed-use property will be split between two development sites, with the eastern site located at 565 Fulton St. and the western site at 547-557 Fulton St. The eastern site will consist of a 51-story mixed-used tower that will feature 561 studio, one- and two-bedroom apartment units utilizing the Affordable New York and Inclusionary Housing programs, as well as approximately 30,000 square feet of common space. Amenities will include a pool with cabanas, dog park, fitness center, half basketball court and multiple resident lounges. The base of the building will feature 17,200 square feet of ground-level retail space. The western site will consist of approximately 14,000 square feet of retail space next to Albee Square and is poised to attract retail brands and wholesalers looking to establish or strengthen their foothold in Brooklyn. …

August 5, 2022

Affordable Housing Development Loans Mixed-Use Multifamily New York Northeast Retail Top Stories

Apollo Global Management Receives $388.4M Financing for The Brook Mixed-Use Project in Brooklyn

by Jeff Shaw August 5, 2022

NEW YORK CITY — Walker & Dunlop Inc.’s New York capital markets team has arranged $388.4 million in construction financing for the Brook, a mixed-use development in downtown Brooklyn consisting of 448,000 rentable square feet of multifamily and retail space. Bank of America provided the funds. Apollo Commercial Real Estate Finance Inc., which is managed by an affiliate of Apollo Global Management, and Witkoff are developing the property at the cross-section of Fulton Street, Flatbush Avenue Extension, and DeKalb Avenue, next to Brooklyn landmarks such as the Fulton Mall and the Barclays Center. The mixed-use property will be split between two development sites, with the eastern site located at 565 Fulton St. and the western site at 547-557 Fulton St. The eastern site will consist of a 51-story mixed-used tower that will feature 561 studio, one- and two-bedroom apartment units utilizing the Affordable New York and Inclusionary Housing programs, as well as approximately 30,000 square feet of common space. Amenities will include a pool with cabanas, dog park, fitness center, half basketball court and multiple resident lounges. The base of the building will feature 17,200 square feet of ground-level retail space. The western site will consist of approximately 14,000 square feet of retail space next to Albee Square and is poised to attract retail brands and wholesalers looking to establish or strengthen their foothold in Brooklyn. …

August 5, 2022

Features Mixed-Use

How to Design, Develop Mixed-Use Projects for the ‘Live-Work-Play’ Consumer

by Taylor Williams August 4, 2022

By Nicholas Haines, CEO, Bromley Cos. The desire to live close to everyday retail destinations — grocery stores, restaurants, gyms — isn’t new. But demand for this type of amenity has become increasingly popular with the rise of mixed-use developments. Think about when you go on vacation. You pick a hotel or rental property that’s close to activities you want to do, sights you want to see or places you want to eat. Now, people are beginning to crave that same convenience in everyday life — and it makes sense. While the pandemic blurred the lines between living, working and playing, rental communities that include residential, office and retail space have more than doubled in demand throughout the United States just over the past decade. These units, also known as live-work-play (LWP) apartments, have seen a substantial increase in interest, especially among millennials. Walkability is one of the primary traits that millennials seek when they’re searching for residential options, and LWP apartments present a unique opportunity to blend accessibility with desirable living experiences, world-class amenities, communal green spaces and exciting restaurant, retail and entertainment options. LWP apartments have proven to be a worthy investment, but just like with any other …

August 4, 2022

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