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Mixed-use

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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CaliforniaDevelopmentMixed-useNewsRetailers

San Francisco Planning Commission Approves 2.3 Million-Square-Foot Flower Mart Redevelopment Project

by Alex Tostado

San Francisco — The San Francisco Planning Commission has unanimously approved plans to redevelop the historic Flower Mart in the city’s South of Market (SoMa) district as a 2.3 million-square-foot mixed-use property. Kilroy Realty Corp. is leading the development, which will preserve and update the 115,000-square-foot Flower Mart, while also adding 2.1 million square feet of creative office space, a 100,000-square-foot retail market hall and one acre of public open space. The project still requires approval from the San Francisco Board of Supervisors and the city’s mayor, which Kilroy hopes …

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DevelopmentEntertainmentMixed-useNewsRetailersTexas

NewQuest Properties Breaks Ground on 143-Acre Entertainment Retail Project in Waco

by Alex Tostado

Waco, Texas — Houston-based NewQuest Properties has broken ground on Cottonwood Creek Market, a 143-acre entertainment retail project in Waco. Located at the intersection of Interstate 35 and Loop 340, the development will span 285,000 square feet. A 14-screen Cinemark theater will anchor the project, and NewQuest is in talks to add a bowling and family dining concept, as well as a national retailer in golf entertainment. The opening is scheduled for spring 2020.

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AlabamaDevelopmentMixed-useNews

Southpace Properties to Develop $11 Million Mixed-Use Building in Birmingham

by Alex Tostado

Birmingham, Ala. — Southpace Properties will develop Macaroni Lofts, a mixed-use building in Birmingham’s Parkside District that will include 35 residential units and 6,000 square feet of retail space. Birmingham Business Journal reports the project will cost $11 million to complete. Situated at the corner of 4th Avenue and 14 Street, Macaroni Lofts is a redevelopment of the former Birmingham Macaroni Co. warehouse, which was built in 1902. The building’s existing structure will remain intact with the addition of rooftop penthouse units with private terraces. The development team includes Fifth Dimension Architecture, …

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Investment salesMixed-useNewsNorth CarolinaRetailers

Dilweg Sells Mixed-Use Property in Durham

by Alex Tostado

Durham, N.C. — The Dilweg Cos. has sold The Courtyard of Chapel Hill, a mixed-use project located at 431 W. Franklin St. in Durham. The Courtyard at Chapel Hill comprises more than 17,000 square feet of retail space and 20 residential units known as The Courtyard Lofts. The building was delivered in 1982 and renovated in 2013. The property was fully leased at the time of sale to tenants including Kipos, Franklin Street Yoga, Vimala’s Curryblossom Café and Cat Tales Cat Café. Tom Kolarczyk and Jeff Glenn of HFF represented …

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DevelopmentMarylandMixed-useNews

Weller Development, Local Leaders Break Ground on $600 Million Phase of Port Covington Project in Baltimore

by Katie Sloan

Baltimore — The first phase of Weller Development’s Port Covington, a 235-acre mixed-use redevelopment project in south Baltimore, kicked off with a ceremonial groundbreaking Monday, May 13. The Baltimore Business Journal reports that this phase of construction, dubbed Chapter 1, will cost $600 million to complete and span five buildings. Weller Development, a privately held developer based in Baltimore, is the project’s lead developer and will build Chapter 1 over several years, with the first new buildings set to be delivered in fall 2021. Known as Rye Street Market, this portion …

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DevelopmentLeasingMixed-useNewsOhio

Bonobos to Open at Mixed-Use Development in Columbus, Ohio

by Katie Sloan

Columbus, Ohio — Bonobos has signed a new lease to occupy 1,500 square feet at a mixed-use development in Columbus. The Pizzuti Cos. is the developer for the property, which is located in the Short North Arts District. Founded in 2007 as an online-only retailer for men’s clothing, Bonobos began opening brick-and-mortar locations in 2012. This is the company’s first location in Columbus and third in Ohio. Bonobos will join office tenant Industrious at the four-story building. Industrious, a coworking space provider, will occupy 30,000 square feet on the third …

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