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Mixed-use

DevelopmentGeorgiaMallsMixed-useNewsRetailers

Elevator City Partners Unveils Plans for $400 Million West End Mall Redevelopment in Atlanta

by Alex Tostado

Atlanta — Elevator City Partners (ECP) has unveiled plans for its $400 million West End Mall redevelopment project in Atlanta’s historic West End neighborhood. The unveiling of the plans follow months of public and private strategic meetings with community leaders and stakeholders, including nearby historic black colleges Spelman, Morehouse, Clark Atlanta University and Morehouse School of Medicine. The redevelopment of West End Mall will feature retail, restaurants, offices and housing delivered in two phases. The City of Atlanta provided a $2 million predevelopment loan to locally based-ECP to secure the …

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Grocery-anchoredLeasingMixed-useNewsRetailersWashington DC

Whole Foods Signs 40,000-Square-Foot Retail Lease for The Parks at Walter Reed in D.C.

by Alex Tostado

Washington, D.C. — Whole Foods Market has signed a 40,000-square-foot lease to anchor the Hartley apartment building within The Parks at Walter Reed in northwest Washington, D.C. The Parks is a 3.1 million-square-foot mixed-use development from the partnership of Hines, Urban Atlantic and Triden Development. The Hartley will be the third new construction at the site, alongside two projects underway: The Brooks condominiums and the Vale apartments, which features 18,000 square feet of retail. The Hartley features 323 rental units and 58,000 square feet of retail space. The apartment building will be …

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CaliforniaInvestment salesMixed-useNewsRetailers

BrandWilson Buys Retail/Office Property in California for $18.1 Million

by Alex Tostado

Glendale, Calif. — A private investor operating under the entity of BrandWilson LLC has purchased a mixed-use property located at 201 N. Brand Blvd. in Glendale. Bow Truss Capital sold the asset for $18.1 million. Warren Berzack and Slavic Zlatkin of Lee & Associates — LA North/Ventura represented the buyer, while Trevor Carl Nelson of Newmontis Real Estate Investment Management represented the seller in the deal. The Woolworth Building was recently renovated. The 43,437-square-foot property comprises a storefront retail space on the ground floor and office space on the second …

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DevelopmentFloridaMixed-useNewsRetailers

Tricera Capital Breaks Ground on 265,000-Square-Foot Retail, Office Redevelopment Project in South Florida

by Alex Tostado

West Palm Beach, Fla. — Miami-based Tricera Capital has broken ground on the redevelopment of the Palm Beach Post newspaper office campus in West Palm Beach. The project, named The Press, will add 125,000 square feet of new retail space and 140,000 square feet of refurbished office space to the market. The project began with the demolition of a two-story office building and bridge. The development team, which acquired the 11-acre site in February 2019, will preserve most of the remaining structures, including those that housed the Post’s original office building and printing press. …

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GeorgiaMixed-useNewsRetailers

CBRE Global Investors Purchases Alpharetta City Center

by Alex Tostado

Alpharetta, Ga. — JLL has arranged the sale of Alpharetta City Center, a mixed-use development featuring 168 residential units, a town green and 82,700 square feet of retail and restaurant space. The District, a 41,650-square-foot collection of local boutiques and service providers, sits at street level below the apartments. The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants spanning two acres of parks and green spaces across three city blocks of Main Street. The retail and restaurants were fully leased at the time of sale. …

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DevelopmentMallsMassachusettsMixed-useNewsRetailers

PREP Property Group to Redevelop Mall into Mixed-Use Property in Metro Boston for $250 Million

by Alex Tostado

Hanover, Mass. — PREP Property Group has unveiled plans to redevelop Hanover Mall in Hanover, approximately 22 miles southeast of downtown Boston. The project costs are estimated at $250 million. PREP will rebrand the mall as Hanover Crossing, an open-air, mixed-use project that will feature 297 multifamily units and will be anchored by an 80,000-square-foot Market Basket Supermarket. Market Basket will feature Market’s Kitchen and Café, a prepared foods department offering a variety of freshly made meals, sandwiches, salads, subs, brick oven pizza and Niji sushi. The location will also …

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FinanceIllinoisMixed-useNewsRetailers

JLL Arranges $140 Million Refinancing for Mixed-Use Development Adjacent to Wrigley Field

by Alex Tostado

Chicago — JLL has arranged a $140 million loan for the refinancing of Gallagher Way, a recently completed mixed-use development adjacent to Chicago’s Wrigley Field. The project includes more than 93,000 square feet of office space, 85,100 square feet of retail space, the 173-room Hotel Zachary and an 8,000-square-foot open-air entertainment plaza. Danny Kaufman, Christopher Knight, Jeff Bucaro and Nicole Aguiar of JLL arranged the 30-year, fixed-rate loan on behalf of the borrower, Hickory Street Capital, the real estate arm of the Ricketts family. Barings, an international investment management firm …

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EntertainmentMixed-useSCBlog

Winning Big with Competitive Socializing

by Alex Tostado

From axe throwing and bowling to gaming lounges and escape rooms, entertainment users that feature competitive activities are rapidly expanding into traditional retail centers. A recent study by JLL coined the term “competitive socializing” to describe this class of  new leisure tenants and how they are driving foot traffic to suburban shopping centers and poised for stronger growth. Eatertainment concepts, another term used to describe these concepts which blend an arcade experience with food and beverage offerings, comprise 22.6 percent of the competitive socializing market share and have proven to …

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GeorgiaLeasingMixed-useNewsRetailers

North American Properties Reveals First Retailers Joining $900 Million Mixed-Use Development in Metro Atlanta

by Alex Tostado

Duluth, Ga. — North American Properties (NAP) has revealed its first retail tenant lineup at Revel, its $900 million, Infinite Energy Center-anchored mixed-use development in Duluth. The first nine tenants announced at the Gwinnett County project include Superica, a Tex-Mex restaurant run by restaurateur Ford Fry; Regal Cinemas; The Painted Pin, which will be the second location for the bowling, entertainment and bar concept; JINYA Ramen Bar; American Barber; Secreto, chef Boyd Rose’s concept serving  Southern cuisine; The Local Expedition Wood Fired Grill; Maker’s Coffee & Wine; and Honeysuckle Gelato. …

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CaliforniaInvestment salesMixed-useNewsRetailers

Newmark Knight Frank Arranges $18 Million Sale of Mixed-Use Building in Hermosa Beach, California

by Alex Tostado

Hermosa Beach, Calif. — Newmark Knight Frank (NKF) has negotiated the sale of The Bijou Building, a three-story mixed-use building located in downtown Hermosa Beach. Federal Realty Investment Trust sold the property to 1221 Hermosa Ave LLC for $18 million. Located at 1221 Hermosa Ave., The Bijou Building was originally developed in 1923 as the Metropolitan Theater and later converted to office and retail space. At the time of sale, the 23,172-square-foot building was 94 percent occupied by a variety of tenants, including Chase Bank, Beach City Capital, Steel Partners …

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