REBusinessOnline

KKR, Urban Renaissance Group Acquire 770,000 SF Mixed-Use Building in Downtown Seattle

SEATTLE — Seattle-based commercial real estate firm Urban Renaissance Group LLC (URG) and global investment firm KKR have acquired 300 Pine St. in downtown Seattle for approximately $580 million.Taking up a full city block between Third and Fourth avenues, the property is a 770,000-square-foot, eight-story, mixed-use building that features 85,000 square feet of renovated ground-floor retail designed to accommodate retail flagship stores. The property has a new Fourth Avenue entrance to …

Novais Partners, Hanover Co. Plan 4.4 MSF Mixed-Use Project in Metro D.C.

ASHBURN, VA. — A joint venture between Novais Partners and the Hanover Co. has announced plans for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development located 30 miles outside Washington, D.C., in Ashburn. The 103-acre, transit-oriented project will be developed adjacent to Loudoun County’s extension of the Metro Silver Line, one stop from Washington-Dulles International Airport. Current plans for the project include 2,000 multifamily units; 1.8 million …

Melo Group Breaks Ground on 57-Story Downtown 1st Apartment Tower in Miami

MIAMI — Melo Group has started construction of Downtown 1st, a transit-oriented multifamily development at 22 SW 1st St. in Miami’s central business district (CBD). The 57-story tower will include 560 market-rate apartments, 10,000 square feet of office space and 3,000 square feet of ground-floor retail space. Completion is slated for 2022. Downtown 1st will include one-, two- and three-bedroom apartments. Units will feature glass balconies with bay and city views. Building …

Jamestown, Private Developers Partner to Redevelop North Charleston Navy Yard

NORTH CHARLESTON, S.C. — Jamestown, an Atlanta-based developer and owner of adaptive mixed-use developments around the world, has partnered with Southeast real estate developers William Cogswell and Jay Weaver to redevelop the 45-acre North Charleston Navy Yard.Decommissioned in 1996 but still home to dozens of companies, the waterfront campus will be reimagined into a 1.2 million-square-foot mixed-use neighborhood called Navy Yard Charleston. The project will add new office space, …

BowX Acquisition Corp. Agrees to Buy WeWork, Plans to Take Company Public at $9B Valuation

MENLO PARK, CALIF. AND NEW YORK CITY — Flexible office space provider WeWork has entered into an agreement with special purpose acquisition company (SPAC) BowX Acquisition Corp. (NASDAQ: BOWX) to be taken public at an initial valuation of $9 billion.A SPAC is a business entity with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring other companies. Menlo Park, Calif.-based BowX Acquisition Corp. is an …

JBG Smith Starts Construction of Two Residential Towers at National Landing Near Washington, D.C.

ARLINGTON, VA. — JBG Smith has started construction of two residential towers at 1900 Crystal Drive in National Landing, a massive development project just across the Potomac River from Washington, D.C.The buildings will total 808 multifamily rental units and around 40,000 square feet of street-level retail across two mixed-use buildings in Arlington. A 27-story southern tower will feature 471 apartments, while the 26-story northern tower will include 337 apartments.1900 Crystal …

Two Large-Scale Residential Developments Underway in Metro Miami for Combined $695M

PLANTATION AND MIAMI BEACH, FLA. — Just outside Miami, two large-scale residential developments are underway totaling $695 million. The projects include the Five Park high-rise in Miami Beach and Plantation Walk in Plantation.Five ParkA joint venture between Terra, GFO Investments and New Valley is preparing to break ground on Five Park, a $345 million residential tower located at 500 Alton Road in Miami Beach. The 48-story tower will become the tallest building in Miami Beach upon …

Google to Occupy 19 Floors of Midtown Atlanta Office Tower

ATLANTA — Google will occupy 19 floors of its new Atlanta office currently under construction in Midtown. The office tower is part of a mixed-use development known as 1105 West Peachtree.Selig Enterprises is developing the office tower, which is slated for completion in the third quarter of 2022. In addition to the 645,000-square-foot office component, the overall project will include a 64-unit condominium tower and a 178-room Epicurean Hotel.Starting next year, Google will take …

Mac Properties Completes 36-Story Luxury Apartment Tower in St. Louis

ST. LOUIS — Mac Properties, a multifamily residential developer with offices in Chicago, Kansas City and St. Louis, has delivered a luxury apartment tower in St. Louis called One Hundred Above the Park. Clayco was the general contractor for the 36-story project, which overlooks Forest Park within the city’s Central West End neighborhood.“We are proud to have completed this world-class landmark for St. Louis in the midst of the pandemic,” says Matt McKenna, Clayco’s vice president …

Shorenstein Properties Sells Miami Office Complex for $230M

MIAMI — Shorenstein Properties, a privately owned investment firm with offices in New York City and San Francisco, has sold 2 & 3 MiamiCentral, a 320,000-square-foot office complex in the city’s downtown area. A fund backed by Blackstone purchased the property for $230 million.Constructed in 2018, the two-building complex is located within MiamiCentral, a transit-oriented, mixed-use development that spans nine acres and roughly 3 million square feet of residential and commercial …

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