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Mixed-use

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DevelopmentFloridaInvestment salesMixed-useNews

Marcus & Millichap Arranges $5.9 Million Sale of Retail Strip Center in Treasure Island, Florida

by Katie Sloan

Treasure Island, Fla. — Marcus & Millichap has arranged the $5.9 million sale of Treasure Island Plaza, a 20,000-square-foot retail strip center located in Treasure Island in metro Tampa Bay. Built in 1981, the property was leased to 11 tenants at the time of sale. The buyer, an investment firm based in Miami, plans to redevelop the one-acre parcel into a mixed-use building with 40 residences atop 10,000 square feet of retail space. Evan Cannan and Reid Thedford of Marcus & Millichap’s Tampa office brokered the transaction.

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DevelopmentFloridaInvestment salesMixed-useNews

Mosaic Acquires Land for $250 Million Mixed-Use Development in Florida

by Hayden Spiess

DeBary, Fla. — St. Petersburg-based Mosaic Development LLC has purchased 13.1 acres of land in DeBary, roughly 23 miles north of Orlando, for the development of the first phase of a mixed-use project to be located immediately north of the city’s SunRail station.  Upon completion, the Main Street-style development will feature 500 apartment units, 40,000 square feet of retail space and a central park and community plaza. Construction on the project is scheduled to begin early next year.  Mosaic purchased the land parcels, which are zoned as a transit-oriented development (TOD) district, …

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ArizonaDevelopmentMixed-useNews

Indicap, Colmena Group, Langley Properties Receive Town Approval for $1 Billion Mixed-Use Project in Gilbert, Arizona

by Hayden Spiess

Gilbert, Ariz. — The Town of Gilbert, a suburb southeast of Phoenix, has approved the zoning request for a 311-acre mixed-use development called The Ranch. Indicap, Colmena Group and Langley Properties are leading the project and estimate development costs of more than $1 billion. Upon completion, The Ranch will offer 221 acres of light industrial space, 39 acres of commercial space, 39 acres of multifamily space and 16 acres of public green space. The commercial space is expected to include restaurants, storage, convenience stores, office space, a fitness center, small grocer …

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Rise Koreatown
ColoradoDevelopmentMixed-useNews

Cal-Coast, Rescore Underway on 688,000-Square-Foot Mixed-Use Development in Los Angeles

by Hayden Spiess

Los Angeles — Cal-Coast Development Corp. and Rescore Property Corp. are underway on the development of The Rise Koreatown, a 688,000-square-foot mixed-use project located in the Koreatown neighborhood of Los Angeles. Upon completion, the property will feature 363 apartment units and 52,619 square feet of retail space. Nadel Architecture + Planning is the architect for the project, the first phase of which was recently completed. 

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CaliforniaDevelopmentLeasingMixed-useNews

Six Tenants Sign Leases at Bella Terra Mixed-Use Development in Huntington Beach, California

by Hayden Spiess

Huntington Beach, Calif. — Six new tenants are set to open at Bella Terra, an 852,000-square-foot mixed-use development currently underway in Huntington Beach. The property is being developed by a partnership between DJM and PGIM. Philz Coffee is scheduled to open in July and Fogo de Chão will open in August, with Jan’s Health Bar and Snooze AM Eatery both set to open this fall. The Golf Bar will also open at the property this winter, and Sender One, an indoor climbing gym, will open next year. Additionally, Marila’s Mexican, previously …

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DevelopmentGeorgiaLeasingMixed-useNews

CONNOLLY, Coro to Reposition 120,000-Square-Foot Mixed-Use Development in Metro Atlanta

by Hayden Spiess

Sandy Springs, Ga. — A partnership between CONNOLLY and Coro Realty has announced plans to reposition the retail portion of a 120,000-square-foot mixed-use development located in Sandy Springs, roughly 16 miles north of Atlanta. The partnership acquired the property in February 2022 for $40.5 million. Formerly known as Sandy Springs Gateway, the development will undergo capital improvements and be known as Chastain Market going forward. Improvements will include infrastructure improvements, increased connectivity among common areas and upgraded landscaping. New tenants will also join the property, with chef Kevin Maxey opening a …

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ArizonaDevelopmentMixed-useNews

HCCJ Family Partners Breaks Ground on 35,000-Square-Foot Mixed-Use Development in Metro Phoenix 

by Hayden Spiess

Verrado, Ariz. — HCCJ Family Partners has broken ground on Sunrise Market, a 35,000-square-foot mixed-use development located in Verrado, roughly 30 miles west of Phoenix. Tenants at the property, which is currently 65 percent pre-leased, will include Copper & Sage, Bobazona, Bosa Donut and Honey Nail. James DeCremer, Matt Milinovich, Alec Miller and Drew Sampson of Avison Young manage leasing at the project on behalf of HCCJ. Construction is scheduled for completion in January 2024. 

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DevelopmentInvestment salesMixed-useNewsNorth Carolina

Northpond Partners Purchases Adaptive Reuse Development in Charlotte for $12.5 Million

by Hayden Spiess

Charlotte, N.C. — Northpond Partners has purchased Chadbourn Mill, an adaptive reuse project underway at a 1930s-era textile mill in Charlotte. Northpond purchased the property from Federal Capital Partners (FCP) for $12.5 million, with plans to develop retail and restaurant space. Renovations will include the addition of two 7,000-square-foot patios and the installation of garage doors on the 18,000 square feet of ground-floor retail space at the property’s main building. Plans also include the addition of a lawn adjacent to the secondary, 2,100-square-foot retail building. The corporate headquarters for software …

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CaliforniaDevelopmentFinanceMixed-useNews

Citivas Provides Construction Financing for 25,000-Square-Foot Mixed-Use Project in Santa Monica, California

by Katie Sloan

Santa Monica, Calif. — Citivas Capital Group has provided a senior construction loan for the development of a mixed-use project at Third Street Promenade in Santa Monica. Upon completion, the space, which will include retail and office space, will feature floor-to-ceiling windows and a 4,000-square-foot outdoor roof terrace. Blatteis & Schnur was the borrower. Jorge Adler of Citivas arranged the financing. 

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DevelopmentFloridaInvestment salesMixed-useNews

Codina Partners Acquires 15-Acre Former Sears Site, Plans Redevelopment in Metro Miami

by Hayden Spiess

Hialeah, Fla. — Codina Partners has acquired a 15-acre parcel formerly occupied by Sears at Westland Mall in Hialeah for an undisclosed price. The site has been vacant since February 2020. The locally based buyer has formed a joint venture with Westland Mall owner, Centennial, to redevelop the site and add a mixed-use concept with a residential component. Centennial acquired Westland Mall from Starwood Capital in 2021. The shopping center comprises more than 300,000 square feet of retail space that is anchored by Macy’s, JC Penney and the former Sears site. 

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