For over 25 years, Mid-America Contractors, Inc. has provided full-service contracting services to commercial clients throughout Kansas City, MO and the surrounding areas. We specialize in commercial construction and contracting services including: new construction, custom cabinetry, carpentry services, retrofitting services, and tenant finishing services.

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Mid-America Contractors - Commercial Construction

More coveted waterfront retail space will be available in early spring along Richlands George Washington Way.

The new 11,062-square-foot strip mall will cater to retailers and restauranteurs.

Ground was broken in mid-August, and general contractor on the project, OBrien Construction Company Inc., estimates a six-month construction period, with completion planned for February or March.

Company Vice President Zak OBrien said the multi-tenant retail space will be a vanilla shell at full build-out, or in other words, unfinished inside.

Unless between now and then tenants approach us to build out their space, which we will build and do improvements for them, OBrien said.

The building could accommodate up to seven tenants, according to a building permit filed with the city of Richland.

Russell C. Page Architects of Spokane designed the concrete block building, which will be similar in aesthetic to its next door neighbor, Hilton Homewood Suites.

The architectural look of the facility will resemble the Hilton, OBrien said. It will have a Tuscan-style look tile roof, stucco-like wall appearance and natural rock.

I love that Tuscan design, said property owner Dick Vandervert of Spokane-based Vandervert Developments. He said he has applied the style to other building projects throughout the region.

Hard costs for the project are valued at $1.5 million, though the total cost of the project, including soft costs, has yet to be estimated, Vandervert said.

OBrien said the site has great east-side river frontage and the benefit of the Hanford 500 coming through that corridor daily, he said, referring to rush hour traffic coming to and from the Hanford Site.

An eight-story, high-end, condo complex with two stories of parking beneath were originally planned for the site at 1080 George Washington Way by Dick and his wife, Bonnie Vandervert.

The condos would have neighbored the former Waterford Condos, which were converted in 2015 to a Hilton Homewood Suites.

The construction of the condos had barely begun on the site when the economic recession hit in 2007-08, effectively bringing the project to a grinding halt. The site has seen no further activity until now.

OBrien said the reason for the change of plans for the lot is that the Vanderverts stand to earn more of a return on investment with retail space.

I think that retail is the best thing we can do, agreed Vandervert, who went on to say the new shops will provide additional amenities for neighboring hotel guests. We will have good services there for them. We only want tenants who will provide good services.

So far, there are no confirmed tenants for the new building, but OBrien did note there is active interest, including one Spokane-based business.

Vandervert said that leasing will be handled through Vandervert Developments and will be actively marketed once standing walls are erected.

OBrien encourages prospective tenants to inquire, as other recent developments the company has worked on have filled up quickly prior to construction completion.

Im just really happy to do it for Dick and Bonnie. Theyre great people. Its going to be a beautiful addition to the G-Way corridor and Richland, OBrien said.

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New riverside retail space under construction on George ...

Posted May 25, 2016 by Rutledge Construction

Retail spaces construction is a discipline of commercial construction and design that combines several areas of expertise for the design and construction of retail space. Although the design of retail space is an architectural specialty that includes interior design, but also incorporates advertising, ergonomics, graphic design, industrial design and interior decoration, as well as site design.

Retail is such a competitive area of business and providing the right layout, circulation, entrance and exit and atmospheric conditions take a cooperative effort between the designer and the contractor. It is essential the designer and contractor work together in an understanding and cooperative manner to make the project a success and if the contractor is also the designer, that is a bonus.

Lets discuss five items to keep in mind when considering hiring retail spaces construction contractor.

It is important a retail spaces construction contractor understand the permitting process and the necessary permits that must be obtained before the work begins. There are always local permits to obtain and depending on the type of work there may be state and possibly federal permits that are required. The permitting process may impact the time frame for starting and completing a project and that has to be taken into consideration when bidding and estimating a time frame for the project.

It is essential the retail spaces construction contractor carry the proper licensing and insurance. The proper licensing assures the client the contractor has demonstrated their ability to perform and complete the tasks undertaken for the project and the work will be of a certain quality. Proper insurance protects both the contractor and client in case of accident while the work is underway.

References are very important to check and the ability to speak directly to others the contractor has worked for is vital to help evaluate if the contractor will meet the needs of the client. It is important the contractor has experience in the type of retail space that is needed. Keep in mind a newly formed company may have the necessary experience as long as the employees have been in the industry for a decent amount of time.

Since the design of retail space must be in such a way that promotes a hassle free and enjoyable shopping environment it is important the retail spaces construction contractor be experienced in the type of retail space being built. Shoppers want to have plenty of room to roam the store without feeling like they are in a sardine can. If a shopper is feeling cramped in a store they will most likely curtail their shopping expedition earlier than the original plan and may view products, as well as the store in a negative light.

Before signing a retail spaces construction contractor for a specific project, it is wise to obtain at least three bids for the work. The bids, which should always be written should include specifics about the project such as an expected time frame to start and complete the project, the materials to be used, items the client will provide such as plans and specifications and what happens if something unexpected while the work is underway such as weather events or a delay in obtaining the supplies and materials. The bid should also include who is responsible for cleanup and disposal of debris. The bid should also outline the permitting process and who will be responsible for application items and fee.

If you are in need of retail space construction, please contact us and speak to one of our experienced technicians and let is guide you through the process.

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The University of Louisiana at Lafayette will begin construction next week on a project to bring nearly 600 new beds and 5,000 square feet of retail space to campus.

The apartment complex is the latest step in UL Lafayettes ongoing effort to expand and renovate on-campus student housing.

Once built, the facility will offer students a choice of two-, three-, and four-bedroom units. Each furnished apartment will have a full kitchen, and washer and dryer. Meal plans will be offered, but not required.

The complex will include five buildings with 591 beds on a 12-acre tract at the corner of Johnston and East Lewis streets. One of the buildings that will front that intersection will have 4,883 square feet of retail space on its first floor, with apartments on the second and third floors.

The complexs outdoor recreation areas will include a swimming pool, sand volleyball court and grilling pavilion. A clubhouse will feature a fitness center, study and game rooms, and a lounge.

The facility is scheduled for completion by Fall 2019.

Plans include 632 parking spaces for residents, guests and retail customers. More than half of the spaces will be located on the east side of Coulee Mine, which runs through the tract. A new pedestrian bridge will connect the properties.

The University acquired the Youth Park in 2012 when it sold its former horse farm now Moncus Park to Lafayette Consolidated Government.

The dog park, skate bowl, dirt bike track and ball field on the site will be eliminated. A restroom building, set of bleachers, and some maintenance and storage facilities will be removed.

The agreement when the University acquired the park property from the city was that as long as we did not have plans to develop the site, the dog park and skate bowl could stay temporarily. But obviously, the housing project will affect them, said Bill Crist, UL Lafayettes director of Facility Management.

The University allowed public use of the Youth Park during the design phase of the student apartment complex and as plans to develop Moncus Park were finalized. The Youth Park will close May 9.

Dog owners have alternatives to Youth Parks dog park. LCG built a new dog park in Brown Park in Upper Lafayette, for example.

Also, Lafayette Central Park Inc. is including a dog park in Phase I of the Moncus Park construction that recently got underway. Phase 1 is expected to be finished in 2019.

LCG also maintains a dog park at Graham Brown Memorial Park, 1234 E. Pont Des Mouton Road. LCG may add another pooch playground at Beaullieu Park, 411 W. Bluebird Drive, later this year.

Cajun BMX Park, a 1,200-foot, all-dirt public bicycle racing track, recently opened at Picard Park in Milton, Louisiana.

The ball field at Youth Park is no longer in use; teams play at other city-parish facilities.

Were considering options for an alternative to losing the skate bowl, said Aaron Martin, the Universitys chief communications officer.

UL Lafayette currently can accommodate 3,180 students in its residence halls. The complex's additional 600 beds would enable nearly a quarter of its student population to live on campus.

Residents of the new apartments will range from sophomores to graduate students.

Construction of the five buildings on the site is anticipated to cost $48 million. The University of Louisiana System Board of Supervisors has approved the expenditure of up to $105 million if the University chooses to expand the apartment complex on this site.

The project will be financed through a partnership with the private, nonprofit Ragin Cajuns Facilities Inc.

Ragin Cajun Facilities Inc. maintains funds needed to design and build student housing and other University-related construction projects. It qualifies for tax-exempt status because it is a nonprofit. Bond funding enables the University to construct facilities without having to compete for state capital outlay funds.

RISE Real Estate, formerly known as Ambling University Development Group, is project developer of the new apartment complex. Niles Bolton Associates is the architect, and The Lemoine Company is the general contractor.

Contractors working on the project are expected to comply with all city noise ordinances, according to Crist.

Photo credit: Courtesy of Niles Bolton Associates

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Construction to expand University housing, add retail ...

Commercial building construction is about more than just the floors and walls. Your retail construction project deserves attention to every detail to ensure that you get exactly the store you want. Our excellent commercial contractors at Stovall Construction, Inc. have the skill and expertise necessary to deliver the very best.

Whether your dream is a cozy boutique, a massive warehouse store or anything in between, we can make it a reality.

Why Choose Us:

In the competitive world of retail sales, having a retail construction company that understands the business is key to developing a winning design. We can help you create a comfortable space where your customers can relax and shop longer, adding up to more sales for you and more dollars to your bottom line.

Quality workmanship on your retail building construction project also translates to better product flow. Before a customer even sets a foot through the door, products must make their way to the display areas. Smooth movement of inventory from storage spaces to retail shelves is planned during the design phase. Cutting down the amount of time your employees spend navigating the storage areas increases their availability on the sales floor. Our retail building construction experts understand these challenges and can help find the right design for your business.

When you choose our retail space construction company for your project, you are getting the very best. We are a family owned company that has been in the commercial building construction business for more than 40 years.

Our clients award us with their projects time after time, proving our excellent customer satisfaction rating is well earned.

In addition to taking care of our customers, we also take care of our employees. Unlike many of our retail space construction competitors, we have an employee safety program in place to take care of the workers on your job. We have many long-tenured staff members and subcontractors who appreciate the fact that we value them and their skills and their appreciation shows in the high quality of their work.

Let us help you on your next retail building construction project. Well provide the right designs, deliver the best quality workmanship, and do everything in our power to ensure your satisfaction.

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Retail Construction Contractors, Management, Retail ...

The cost of commercial construction projects fluctuates considerably depending on numerous factors. Below is a chart with rough estimates of the cost of various commercial construction projects in the Midwest. It does not attempt to account for the many factors that can cause such fluctuation. It simply provides a basic guideline. For information about the factors that can influence the cost of a building, see our blog post on need-based factors that can influence cost or contact ustothoughtfully compile a plan for your facility that incorporates these and other factors and receive a preliminary estimate regarding the cost of your prospective building.

Whether youre looking at a retail, office, medical or another type of commercial or industrial building, our team is ready to help you estimate the cost and timing of your project. Just have an idea about what you want to build but no concrete plans? Thats ok too. We work with customers from dream, to concept, to planning, to buildall the way through. Just usethe form below to request a free consultation. And lets talk.

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How Much Does a Construction Project Cost ...

While youre hunting for the perfect location, dont let other preparations fall by the wayside. Make sure you select the right POS for your style of business. For large inventories, we suggest using Lightspeed. They make it easy to make sure you never run out of stock, and also let you build customer contact lists to quickly advertise your sales. Start a free trial today.

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Before you go out and scout potential locations for your business, you need to know what you can afford. This will help you narrow down your choices and prevent you from jumping on a place simply because it looks appealing. Remember, your lease amount will take big chunk out of your monthly budget so its important to stick to a figure youre comfortable with.

The maximum percentage a business should allocate to their lease payment differs depending on the industry. However, the range is typically 3 % to 10 % of gross monthly sales. Ideally, you should spend no more than 10% of your monthly gross sales on your lease payment.

Below are sample figures from property management company, Hartman, to give you an idea of how much different types of retail stores typically spend on rent.

In order to determine what percentage of your business profits will go to your lease payment, simply take the annual cost of rent and divide it by your gross annual income.

Here is a quick sample calculation:

Annual rent: $150,000.00

Gross Annual Income: $2 million

Equation: $150,000.00/ $2 million = 8%

This means that 8 cents of your profits go to rent for every $1 dollar your business earns.

Although this list will vary from city to city, here are some of the main factors that influence retail leasing costs:

Apart from the lease base rate, there are other one-off and recurring items you need to take into consideration and include in your budget such as:

Be conservative when setting your lease budget because youll need extra cash on hand to run your business day to day and pay for unexpected expenses. These experts agree:

Cedric Stewart, Residential & Commercial Sales Consultant, Entourage RG at Keller Williamssays:

Depending on your type of business,

Carrie Wood, Chief Marketing Officer, Leaseref.comagree:

Its easy to analyze the gross rent,

If you work with a broker, be sure to also factor in their fee. Commercial real estate brokers who lease retail space generally charge from 7 to 10% of the total lease costs. For example, if you sign a 3 year lease at $50,000 a year ($150,000 total), and your broker charges 10%, then the brokers fee would be $15,000.

It is also possible that the fees may be charged on a per square foot basis, generally $1-$5 dollars depending on the length of the lease. For instance, lets say you lease a 5000 square foot building with a 3 year lease term. Your broker fee would be around $15,000 (5000 sq. ft x $3).

To learn more about broker fees and whether you should use a broker, see our commercial real-estate article.

Different landlords offer different types of leases. The main differences between lease types are the kinds of costs each party will shoulder. Below are the types of leases you may come across, what they mean, and how they will impact your monthly lease budget.

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When you lease retail space, you dont want to pay for space that you wont need, but you also want to have enough space to accommodate business growth. Space needs will vary for each business, but here are some common areas for which you may need space:

Come up with a general calculation of how much space you need, within 250 or so square feet, and you will narrow down your property significantly.

Heres a basic formula for estimating the size of your sales floor based on sales goals:

Here are some more tips on how to determine ballpark figures of finding the average sales per square foot.

Check out our articles on Planning Your Store Layout and Store Displays How To Pick The Right Ones For Your Business for additional information concerning how to setup your space.

Now that you have your budget figured out, it is time to locate 4 to 5 quality options for renting retail space. You do not want to limit yourself to one right from the beginning. Instead, find 4 or 5 options that could work and then compare and contrast them to one another to determine the best fit. Having multiple options also gives you more leverage when you negotiate cost later.

Here are the best ways to locate property:

There is no substitute for local knowledge. That is why local brokers are still the top option for locating property for your retail needs. A local broker should have in-depth knowledge of your area, knowing exactly who lives in what sections of town and where the retail traffic is. Even better is if they have previous experience working with the landlord.

Several sites have free commercial real estate listings, such as Loopnet, Craigslist, and Catylist.

These sites usually include featured listings, lease prices, types of businesses that are allowed to operate in the space, property addresses, and agent contact information.

Property listing subscription services help you locate retail properties. The advantage of this is that it is much more than a location tool, also offering in-depth analysis of local markets, demographics, and other pertinent information. However, it will also cost you, around $300 $1000/month depending on the package selected.

Check out our reviews of real estate listing websites and see if its something youd like to consider when hunting for your retail space.

Now that you have 4 or 5 good options, it is time to narrow them down to the one that is best for you. Finding the right retail store for lease really comes down to three things: cost, size, and location. Once you know your budget and the approximate size you are looking for, it all comes down to location.

Heres a summary of the things you should consider when choosing a location:

Now that you have a space picked out, it is time to review and negotiate your lease. This can be a complicated process, especially considering all the legal terminology and lease-speak.

Use an attorney who is experienced in commercial lease agreements and commercial property transactions whenever possible. We recommend LawTrades, an online legal service provider that will match you with a dedicated attorney. You can sign up for a no commitment free trial here.

Visit LawTrades

In evaluating your lease, do an extensive review of what you can or what you cant do with the space youre leasing. Below are some items and clauses to watch out for before considering a space for your business:

If your business depends on foot traffic, then you may want to try and negotiate an exclusive use clause into the contract. An exclusive use clause prevents your landlord from renting space out to one of your competitors in the same building or shopping complex.

If you need to make alterations to the space, then you want to make sure it is clearly outlined in the lease what alterations you are allowed to make.

Some space improvements that the tenant has to take on can be counted towards rent, advises Kevin Godfrey, a realtor at Douglas Elliman. If you are replacing a toilet for $500, you can request for that amount to be deducted from next months rent. When a property is not in a good condition, ask for anything and everything you can think of. A broker wants to close the deal and will be more than happy to pitch to the landlord additional requests you may have.

If you want to post for sale signs, open/closed signs, or other signs in your storefront, then make sure that you understand what is and isnt allowed to be installed in the space.

Whenever possible, you want to have the ability to sublease your space. This offers some protection if you are no longer able to pay the rent, or if you have expanded to the point where you need to move into a larger space.

If your business depends on the foot traffic that another nearby business brings into an area, then you should consider adding a co-tenancy clause which allows you to break your lease if the anchor tenant leaves. This is especially important in shopping centers and malls which have one or two very large stores that are responsible for a large portion of the malls customers.

We have an in depth explanation of all the things to consider in a commercial lease in our article How To Lease Commercial Real Estate.

Here are some items you can negotiate on.

You can try to bring this down, especially if youre looking at renting the space long-term. However, if youre looking to stay for less than 3 years, you have less negotiating room here and should focus on your efforts in other areas.

Landlords will generally try and work into the lease an annual increase in rent based on the consumer price index or some other measure. These are also called escalations and should be fully understood before entering into any lease.

Utilities also take a chunk out of your profits, so try to see if this is something the landlord can include in the base rate. While they might not agree to include all, try to negotiate some items such as water and sewage.

Lease terms vary from state-to-state, but are often 1-5 years in duration. Long term lease terms can be daunting, especially if you are just starting out. The majority of lease agreements require a tenant to pay the rent whether their business survives or not, so it can help to be conservative and negotiate down your lease duration. However, do note that a shorter lease duration increases the lease base rate.

You dont know whats going to happen to your business, so try to see if you can include a clause that will allow you to get out of the lease prematurely under unexpected circumstances, such as damages within the space vicinity, loss of sales and bankruptcy, environmental contamination, etc.

Most commercial leases ask tenants to initially pay up to 3 months rent upfront. Try to negotiate this to one or two months to conserve cash flow.

Carrie Wood of Leaseref.com gives a final parting tip. Dont give the impression that you are so interested in the space even with your own broker. Negotiations are won by whomever cares the least. So always leave the impression that you could walk away from the deal.

The best thing to do is to give yourself some time to weigh and consider the options so that youll avoid making hasty decisions. After all, your retail space is the truest representation of your business. If you want to lease retail space for your business, youll need to do a lot of planning, but we hope that this step by step guide gave you a good idea on how to get started and ultimately, close a great and cost-efficient deal with a broker.

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How To Find & Lease Retail Space - Fit Small Business: Get ...

by Laura Scott; Updated September 26, 2017

Retail space is the last stop in the manufacturing chain, the spot where merchants sell products to customers. Retail space differs from other commercial properties, such as industrial or office space, in that the emphasis is on product display and customer accommodation.

Merchants usually create or find retail spaces in single-standing buildings, in malls, and on the main streets of busy commercial districts. Airports, college campuses, subway stops, sports arenas, hospitals, train stations and other places that experience heavy foot traffic also have retail space.

Merchants either buy or lease retail space. A triple net lease, which requires merchants to pay for insurance, maintenance and taxes, in addition to rent, is a common arrangement in retail. Rent can be a fixed amount due each month, or a percentage of the retailer's receipts.

Roughly 70 percent of the space in a retail business is devoted to product display, with the remaining area used for office work and inventory. A well-lit spacious floor plan helps merchants present goods to customers. Easy access, nearby parking and proximity to other popular shops and restaurants benefit customers and are considered assets for retail space.

Laura Scott has been reporting for Gatehouse Media New England, Essex County Newspapers and other regional publishers since 1997. She won several New England Press Association awards for her coverage of the fishing industry and coastal communities. Scott is a graduate of Vassar College and has a master's degree in American studies from Boston College. She also attended art school in Italy.

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Retail Space Definition | Bizfluent

Even in its downtrodden days, the Rosemary District stood out for its unbeatable location, just a few blocks from downtown Sarasota and the bay. But not until 2014, when the city increased density for new projects in the neighborhood from 25 units to 75 units per acre, did development take off. More than 1,500 residential units are being developed, have been approved or are awaiting approval. A hotel, three apartment projects and 11 condominiums are rising, with some units priced at more than a million dollars. Restaurants, furniture stores and offices are cropping up, and the district was recently rated one of the 10 most walkable neighborhoods in Florida.

Click here to view a larger version of this map.

1A Lolita Tartine1419 Fifth St. Breakfast through dinner, casual French fare in a colorful industrial space; owners own two Cest La Vie restaurants.

1B Toasted Mango Caf430 N. Tamiami Trail. Cheerful, reasonably priced, breakfast and lunch.

1CBlue Apron Caf and Catering436 Central Ave. Small eatery, breakfast and lunch.

1D Mandeville Beer Garden428 N. Lemon Ave. A district hotspot offering 30 craft beers on tap or 150 beers by the bottle; packed Tuesday trivia nights.

1E Station 400400 N. Lemon Ave. A favorite breakfast and brunch spot in a restored train depot.

1F The Blue Rooster1525 Fourth St. Live blues and Southern fare.

1G The Rosemary411 N. Orange Ave. American bistro in Citrus Square open for breakfast, lunch and dinner.

2A Hotel Indigo Sarasota1223 Boulevard of the Arts. Four-story, 95-room boutique hotel.

2B The Sarasota Modern Hotel591 Cocoanut Ave. Under construction, an 89-room luxury hotel, includes 151-seat restaurant; open early 2018.

2C Cambria Hotel and SuitesFruitville Road between Central and Cocoanut. Five-story, 118-room hotel; construction has not started.

3A Rosemary Court Wellness Center810 Central Ave. A small complex of four 1920s homes; includes popular Rosemary Court Yoga.

3B Planned Parenthood of Southwest and Central Florida736 Central Ave. Headquarters of the 22-county Planned Parenthood affiliate.

3C The Salvation Army Sarasota1400 10th St. Food, shelter and social services for the needy.

3D Home Resource741 Central Ave. Contemporary furniture store in a renovated garage.

3E The Sarasota Collection Home Store622 Central Ave. Eclectic furniture store of four big showrooms.

3F Canned Ham Vintage1435 Seventh St. Small shop jammed with vintage clothing, jewelry and home goods.

3G Architectural Revival421 Central Ave. Repurposed furnishings and custom furniture design.

3H Blue Line Inc.301 Central Ave. Longtime downtown art and office supply store.

4A BOTA Center1570 Boulevard of the Arts. Meticulous renovation of the old Babcock Furniture Store into a center for creatives and their businesses, anticipated completion fall 2017.

4B CitySide Apartments700 Cocoanut Ave. Four-story, 228-unit apartment complex ushered in Sarasotas apartment building boom; a second phase of 261 apartments is planned.

4C Valencia at Rosemary Place601 Cocoanut Ave. About 30 townhomes under construction, starting in the mid-$500,000s, anticipated completion 2017.

4D Rosemary Square1440 Boulevard of the Arts. Three-building campus includes a condominium of 30 residences (all sold to the Sarasota Opera for artists) with retail and office on the ground floor; a building with studio space for The Players and Sarasota Contemporary Dance; and a building with two restaurants; anticipated completion January 2018.

4E Elan Rosemary Apartments710 N. Lemon Ave. Four-story, 286-apartment project, anticipated completion December 2018.

4F The Courtyard at Citrus461 N. Orange Ave. Phase II and III of European-style three-story condo/retail project will include 28 condos priced between $395,000 to $455,000 and commercial space, anticipated completion 2017/2018.

4G Risdon on Fifth1350 Fifth St. 22 modern-style condos priced between $389,000 to $949,000; ground-level commercial space; anticipated completion fall 2017.

4H The Risdon1374 Fifth Way. 11 modern-styled luxury condos, $600,000 to $1.5 million, construction to start in spring 2018.

4I Fifth and Central435 Central Ave. Another Risdon Group project, three-story building with 3,000 square feet of ground-level retail with two stories of six condos, $500,000 to $850,000, ready for occupancy fall2017.

4J Vanguard Lofts1343 Fourth St. Six modern townhomes, $550,000 to $900,000; anticipated completion fall 2017.

4K 1515 Fruitville1515 Fruitville Road. Upscale, modern 15,000-square-foot retail center under construction.

4L Urban Flats1401 Fruitville Road. Five-story, 228-unit apartment complex under construction, rents averaging $1,700 a month; anticipated completion fall 2017.

4M Kretzmer Artist Residence751 Cohen Way. Five town-homes with 20 bedrooms for visiting Florida Studio Theatre artists and young theater professionals; anticipated completion October 2017.

4N DRAPAC1359 Fourth St. Modern-style condo of 62 units with 2,820 square feet of commercial space; construction has not started.

4O Zahrada1542 Fourth St. Six luxury townhomes, above $1.3 million-plus to start; 5,150 square feet of commercial space; construction has not started.

4P BLVD Sarasota540 N. Tamiami Trail. 49-unit condominium, $1.6 million-plus units, includes a 7,250-square-foot restaurant space; anticipated completion, summer/fall 2019.

5A Sarasota School of Arts and Sciences645 Central Ave. A-rated public charter middle school.

5B Sarasota Military Academy801 N. Orange Ave. High school campus of the C-rated public charter school.

5C The Players Theatre838 N. Tamiami Trail. The city of Sarasota is considering buying the 2-acre site of the longtime community theater, which is moving to Lakewood Ranch

5D Rosemary Cemetery851 Central Ave. Historic-designated cemetery with graves dating back to 1887.

5F Rosemary District Indie Market701 Cohen Way. Artists, craftspeople and farmers gather at this corner parking lot every third Saturday in season.

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Your Guide to the Rosemary District - Sarasota

Midtown 6 developers nab $110M construction loan

Developers paid $28M for the 2.14-acre development site

ByKatherine Kallergis | August 28, 2017 12:15PM

Jim Losik and a rendering of Midtown 6

The developers of Midtown 6, a luxury rental tower planned for Midtown Miami, just closed on a $110.3 million construction loan, according to HFF.

Magellan Development Group,J.P. Morgan Asset Management and Alex Vadia secured the financing from PNC and BMO Harris Bank. PNC is the lead lender. HFFsScott Wadler and Elliott Throne arranged the loan, Wadler told The Real Deal.

Last week, Vadia sold the 2.14-acre development site at 3101 Northeast First Avenue for $28 million to a partnership that included him and Magellan. As planned, Midtown 6 will have 447 luxury apartments and 40,500 square feet of retail space.

Magellan, a Chicago-based residential developer, received approvals earlier this year for Midtown 6 and 7, the latter of which will be another 32-story tower with 838 units. The buildings, designed byChicago-based bKL Architecture, will share a common courtyard and pedestrian plaza. Midtown 6 will also have nearly 74,000 square feet of amenities, including a pool and spa, fitness areas, game room, lounge, office, kitchen and bars, and fireplaces.

Earlier this year, Magellan and Midtown Development opened Midtown Five, a 24-story tower with 400 units, 52,000 square feet of amenity space, along with ground floor retail. According to an apartment guide, rental rates at Midtown Five range from $1,544 a month for a studio to $5,323 a month for a three-bedroom apartment.

Magellan financed Midtown Five, which opened in January, with an$80 million construction loan.

Vadias Midtown Opportunities began acquiring land in Midtown Miami back in 2010, amassing 22 acres of developable land. The company still owns the 2-acre development site of Midtown 8, where Wood Partners plans to build a28-story, 387-unit at2951 Northeast First Avenue.

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Midtown 6 developers nab $110M construction loan - The Real Deal Magazine