Mixed-use
Port of Corpus Christi Opens Trade Lines to Venezuela
Aug. 19, 2008
Establishing a dedicated monthly shipping service between Texas's Port of Corpus Christi and Venezuela opens a two-way trade route that hadn’t existed at the port before. The opening of the trade route comes on the heels of the selection of Federal Development as the master developer of a $400 million project that includes the development of La Quinta Trade Gateway.
Fort Meyers Chooses Acquest for Riverfront Project
Aug. 19, 2008
Downtown Fort Myers, Fla., is undergoing a renaissance and Acquest Realty Advisors Inc. will play a big role in the endeavor, now that the city council has selected the Bloomfield Hills, Mich.-based company to spearhead the development of a waterfront mixed-use project.
Harcourt Lawsuit Dismissed
Aug. 18, 2008
The charges against Harcourt Developments have been dropped, following a judge's ruling that the complaints were not supported.
Mixed-Use Project Housing Fireman’s Fund Aims for Carbon Neutrality in 10 Years
Aug. 13, 2008
American Assets Inc. has revealed plans for The Commons at Mount Burdell, a green mixed-use project on a 65-acre site in Novato, Calif., about 30 miles north of San Francisco. According to the San Diego-based real estate company's calculations, the 1.5 million-square-foot development and redevelopment endeavor will be able to achieve carbon neutrality within a 10-year period. The Commons will evolve on the site of a Class A office complex on San Marin Drive. Home to the headquarters of the Fireman's Fund Insurance Co., American Assets acquired the property last year and will incorporate the existing buildings into the project. Ultimately, The Commons will encompass 800,000 square feet of new development that will include a premier hotel, retail space, meeting venues, a fitness facility and daycare accommodations. Additionally, 710,000 square feet of existing space will undergo renovation.
New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
Aug. 08, 2008
Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.
JV Shells Out $40M for LA-Area Business Park
Aug. 08, 2008
The joint venture buyer has agreed to purchase College Business Park in Upland, Calif., just east of Los Angeles. The 314,000-square-foot business park sold for $39.9 million to Koll/PER, a limited liability company owned by Koll and the Public Employee Retirement System of Idaho.
$28M Financing Deal Paves Way for NJ Mixed-Use Waterfront Project
Aug. 07, 2008
Plans to erect an upscale 564,000-square-foot mixed-use project on a 2.7-acre coastal brownfield site in Jersey City, N.J., move forward with the closing of a $27.5 million loan to fund the acquisition and the environmental cleanup of the property. EnviroFinance Group L.L.C. provided the financing for developer Statue of Liberty Harbor North Redevelopment Urban Renewal L.L.C.
Newcastle-RREEF JV Acquires Former Boeing Land in Long Beach for $350M Project
Aug. 06, 2008
Despite economic woes that have caused delays or outright cancellation of many projects, Newcastle Partners Inc., and RREEF Alternative Investments have purchased 54.5 acres at the former Boeing aircraft manufacturing site in Long Beach, Calif., with plans for a 4 million-square-foot mixed-use business park with an estimated value of $350 million at build out.
Gale Hits Milestone with $35B South Korea Enclave
Aug. 06, 2008
Realization of the Songdo International Business District, the $35 billion master-planned enclave New York City-based Gale International has been developing in Incheon, South Korea, becomes more tangible with the completion of the 1.3 million-square-foot Songdo Convensia Convention Center, its first building. More structures in the 1,500-acre development are on target to deliver within a year.
Bankruptcy Court Approves $127M Financing for Lake Las Vegas Developer
Aug. 06, 2008
The court handling the bankruptcy of Las Vegas Joint Venture L.L.C., the master developer of the Lake Las Vegas Resort, has approved a $127 million debtor-in-possession financing agreement with a group of lenders led by Credit Suisse as agent. The consensual agreement was reached with various creditors and the Official Committee of Unsecured Creditors. A Lake Las Vegas spokesperson characterized the credit facility as “cash to run the operation.”
37-Acre Mixed-Use Project to Open in Houston in 2009
Aug. 05, 2008
Midway Companies recently unveiled plans for CityCentre, its 1.8-million-sq.-ft. mixed-use project in Houston featuring 650 residential units, 400,000 square feet of retail, restaurants and entertainment, a 144,000-sq.-ft. urban Life Time Athletic fitness facility and 425,000 square feet of Class A office space.
Ground Breaks on $53M Entertainment Venue in Dallas
Aug. 01, 2008
Work has gotten underway on the Allen Events Center, a 6,300-seat entertainment facility that will be part of a 3 million-square-foot mixed-use development straddling the cities of Allen and Fairview, about 25 miles north of Dallas.
Suburban Phoenix Mixed-Use Project Nets $65M Financing
July 31, 2008
With construction starting earlier this year on Park Place, a mixed-use development in the Phoenix suburb of Chandler, Ariz., developer Cybert Hall Partners has gained $65.2 million in financing for the project. Buchanan Street Partners negotiated the financing package on behalf of Cybert Hall.
Work Commences on $1.3B Universal Studios Project in Dubai
July 30, 2008
Ground has just broken on Universal Studios Dubailand, a 7 million-square-foot theme park in the sprawling mixed-use Dubailand development in the U.A.E. Tatweer is behind the project, as well as the entire $64 billion, 3 billion-square-foot Dubailand endeavor, which is being designed to be the largest tourism, leisure and entertainment destination in the world.
ING Sells Roosevelt Raceway Center on Long Island for $103M
July 24, 2008
ING Clarion Partners L.L.C. has sold the Roosevelt Raceway Center in Westbury, N.Y. The New York office of Holliday Fenoglio Fowler L.P. announced the finalization of the $103 million sale and arranged financing, representing the buyers, the Mattone Group and Gartenstein Properties, who put up $32.3 million in cash. The property consists of 427,000 square feet of retail stores and condominiums. The deal also included a $70.7 million fixed-rate loan from New York Community Bank.
Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million square feet to an area just minutes from the District.
Learn About Shopping Center Investment News
The commercial real estate industry depends upon partnerships between commercial and residential mixed-use real estate players to be successful. CPN reports on property types such as shopping center investments and how they are affected in the current commercial real estate climate. For the best in retail sector news, read Commercial Property News.
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