Mixed-use planned for six acres in L.A.’s South Park
Los Angeles — Mack Urban Real Estate Group and AECOM Capital have acquired six acres in the Los Angeles central business district. The $80 million transaction is the largest land acquisition in the CBD since before the recession. The seller was EVOQ Properties.
The acquisition is part of a Mack Urban and AECOM plan to build a portfolio of class A, institutional quality multifamily developments in West Coast gateway cities.
South Park ranks among L.A.’s premier residential neighborhoods. The immediate neighborhood encompasses 32 square blocks of residential properties and includes retail and entertainment venues such as the Staples Center and L.A. Live.
Pine Tree hires VP design and construction
Northbrook, Ill. — Pine Tree Commercial Realty has announced the appointment of Julie Zamudio as VP of design and construction. Zamudio most recently served as lead manager of the multi-site group banking and retail sectors in the Chicago office of Lend Lease Construction Inc.
There she was responsible for business development, strategic direction and overall execution, including the development and implementation of budgets, financials and reporting of the construction group retail sector.
Three restaurants sign with Mid-America
Chicago — Mid-America Asset Management Inc. has announced that three new restaurants have taken space in Chicagoland shopping centers.
Restaurant franchise Red Snapper has leased 1,800 sq. ft. at Dorchester Commons in the Hyde Park neighborhood of Chicago. Mid-America represented the landlord. The tenant was self-represented.
Firehouse Subs signed a lease for 2,200 sq. ft. at The Fresh Market Center in Glen Ellyn, Ill. The fast casual sandwich franchise will open this winter. The 30,855-sq.-ft. center, anchored by The Fresh Market is currently under construction. Mid-America negotiated the lease on behalf of the landlord. The tenant was self-represented.
Quick casual soup and sandwich restaurant Zoup signed a lease for 2,000 sq. ft. at Plaza del Prado in Glenview, Ill., and plans to open in November. Jewel-Osco, Snowbird Ski & Patio and Total Hockey/Total Lacrosse anchor the 129,112-sq.-ft. center. Mid-America represented the landlord. The tenant was self-represented.