Friday, November 7, 2025
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Gordon-Logistics-Center
GeorgiaIndustrialLoansSoutheast

JLL Secures $71.7M Refinancing for Gordon Logistics Center in Adairsville, Georgia

by Abby Cox

ADAIRSVILLE, GA. — JLL Capital Markets has secured $71.7 million in refinancing for Gordon Logistics Center, a roughly 1 million-square-foot advanced manufacturing facility located in Adairsville, about 60 miles northwest of Atlanta via I-75. Peter Rotchford, Bobby Norwood, David Sitt, Christopher Pratt, Hamp Gibbs and Streeter Simmons of JLL arranged the floating-rate, two-year loan through Benefit Street Partners on behalf of the borrower, Thor Equities. The loan includes three, one-year extension options. Delivered in 2023, Gordon Logistics Center features 40-foot clear heights, 179 dock-high doors, four drive-in doors, 200 trailer parking spaces (expandable to 306), 393 car parking spaces (expandable to 567), a 185-foot truck court depth and 5,095 square feet of built-out office space. The property is also situated in close proximity to the Georgia Port Authority’s Appalachian Regional Port, which offers direct rail connection with the Port of Savannah.

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SouthState Bank
GeorgiaLeasing ActivityOfficeSoutheast

SouthState Bank Moves into 87,000 SF Regional Office Headquarters in Atlanta’s Buckhead District

by Abby Cox

ATLANTA — Winter Haven, Fla.-based SouthState Bank has moved into its new 87,000-square-foot regional office headquarters at Prominence Tower, a 19-story office building located at 3475 Piedmont Road NE in Atlanta’s Buckhead district. The tenant’s new offices span three-and-a-half floors and will house roughly 175 local employees. Prominence will also feature a new flagship retail branch on the building’s ground floor and building-top signage that will elevate visibility of the SouthState Bank brand. Josh Hirsh and Patrick Baughman of JLL represented the tenant in the lease negotiations. Aileen Almassy and Andy Sumlin of Partners Real Estate represented the landlord, New York Life Real Estate Investors. Prominence Tower is a mixed-use development that recently underwent an $8 million renovation to both modernize the building and to install various tenant amenities, such as a conference facility, lobby coffee bar, fitness center, bike storage room and a seven-level attached parking garage. 

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AcquisitionsFloridaGeorgiaIndustrialKentuckySoutheast

MDH Partners Acquires 1.5 MSF Industrial Portfolio in Southeast, Midwest for $165M

by John Nelson

ATLANTA — Atlanta-based MDH Partners has purchased a six-property, 1.5 million-square-foot industrial portfolio in the Southeast and Midwest for $165 million. John Huguenard and Trent Agnew of JLL represented the seller, LBA Logistics, in the transaction. The portfolio has an average vintage of 2017, an average clear height of 33 feet and 6.9 years of weighted average lease term remaining, with each property fully leased to a single tenant. The assets include a 69,679-square-foot property in Miami leased to Compass Group USA; a 552,700-square-foot property in Jacksonville leased to Margo Garden Products; a 246,920-square-foot property in Atlanta leased to SupplyOne; a 235,013-square-foot facility in Louisville leased to ICS AmerisourceBergen; a 68,388-square-foot property in Cincinnati leased to GE Aerospace; and a 302,880-square-foot facility in Columbus leased to Hims.

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Fischer Marketplace
AcquisitionsGeorgiaRetailSoutheast

Hanley Investment Group Brokers $26.9M Sale of Publix-Anchored Shopping Center in Metro Atlanta

by Abby Cox

SHARPSBURG, GA. — Hanley Investment Group Real Estate Advisors has brokered the $26.9 million sale of Fischer Marketplace, a newly constructed, 70,134-square-foot shopping center in Sharpsburg, approximately 38 miles southwest of Atlanta. The property was fully leased at the time of sale to tenants including Publix, Jersey Mike’s, Dave’s Hot Chicken, Nothing Bundt Cakes and Great Clips. The sale also features three outparcels leased to Gusto!, Heartland Dental and Andy’s Frozen Custard. Publix occupies approximately 69 percent of the property on a long-term lease. Kevin Fryman and Ed Hanley of Hanley Investment Group, in association with ParaSell Inc., represented the 1031 exchange buyer, an unnamed private investor based in Southern California. Hunter Steffien, Tyler Strauss, Scott DeYoung and Jeff Conover of Faris Lee Investments, as well as Bryan Belk and John Tennant of Franklin Street’s Atlanta office, represented the sellers, ForCAST Real Estate Development LLC and Fayetteville, Ga.-based Brent Holdings, in the off-market transaction.

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GeorgiaMarket ReportsOfficeSoutheastSoutheast Market Reports

Pause or Prime Time? Atlanta’s Office Sector Is in Transition

by John Nelson

Atlanta’s commercial office market is at a pivotal moment, caught between signs of stabilization and the lingering effects of a post-pandemic reset. Vacancy remains elevated, absorption is improving and tenant preferences continue to evolve — but fundamentals are beginning to shift as the market adjusts to the new workplace. Signs of a bottom? Hybrid work models, space optimization strategies and cautious expansions have elevated metro Atlanta’s office vacancy rates. Direct vacancy rates surpassed 24 percent for the first time and are hovering near all-time highs.  Meanwhile, sublease availabilities have declined over 25 percent from their peak in 2023, and quality space remains difficult to find. The slowing pace of vacancy increases suggests the market may be nearing a turning point after recording negative annual absorption in four of the past five years. Net absorption, a key indicator for overall office sector health, totals negative 438,000 square feet, according to Colliers’ second-quarter 2025 report. While still in the red, this marks a significant improvement over previous years. Recent leasing activity suggests even more positive movement in the second half of the year, indicating that tenant departures are tapering and space givebacks are moderating. Leasing: quality vs. quantity Despite economic headwinds, leasing …

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Northbend Master-Plan Rendering
AcquisitionsDevelopmentGeorgiaMixed-UseSoutheastTop Stories

Third & Urban, HighBrook Investors Acquire Corporate Square in Atlanta, Plan $605M Mixed-Use Redevelopment

by Abby Cox

ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …

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DevelopmentGeorgiaLeasing ActivityRetailSoutheast

Trader Joe’s Opens New Store at The Avenue Peachtree City in Metro Atlanta

by John Nelson

PEACHTREE CITY, GA. — Trader Joe’s has opened a new 13,750-square-foot grocery store at The Avenue Peachtree City, an open-air shopping center located in Peachtree City, a southern suburb of Atlanta. The store is located at 258 City Circle and represents the first location in the city for the California-based grocer. JLL manages The Avenue Peachtree City on behalf of the owner, Memphis-based Poag Development Group. Other retailers operating at the property include Arhaus, Beignets & Brew, High Country Outfitters, HOBNOB Neighborhood Tavern, Kendra Scott, Lovesac, Moe’s Southwest Grill, Motivate Studios, Rack Room Shoes, Sephora, Ted’s Montana Grill, Warby Parker and 9292 Korean BBQ.

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DevelopmentGeorgiaMixed-UseSoutheast

Atlantic Cos. to Build Hillrose Market Mixed-Use Development in Roswell, Georgia

by John Nelson

ROSWELL, GA. — The Atlantic Cos. has received approval from the City of Roswell to build Hillrose Market, a mixed-use development in the northern Atlanta suburb of Roswell. Adjacent to City Hall with walkable trail connection to the Canton Street Historic District, Hillrose Market will transform a 7-acre site fronting Hill Street between Atlanta and Ellis streets. Plans call for a six-building, 75,000-square-foot retail village; an office building; the adaptive reuse of the former Roswell Police Department into a mixed-use hub with ground-floor retail space and second-floor workspace; 143 luxury rental apartments; 16 for-sale brownstones; abundant surface and structured parking; and pedestrian access to downtown Roswell and surrounding trails. Atlantic Cos. is developing Hillrose Market in a public-private partnership with the City of Roswell. ASD | SKY is leading design efforts, and The Providence Group is developing the brownstones. Westbridge is serving as commercial consultant, advising on the adaptive reuse and retail components. New South Construction Co. is the general contractor, and Kimley-Horn is the project engineer. Crosby Design Group is leading interior design services. Construction is slated to begin next year, with completion of the first phases anticipated in 2027.

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GeorgiaLeasing ActivityOfficeSoutheast

Colliers Arranges 26,285 SF Office Lease in Alpharetta, Georgia

by John Nelson

ALPHARETTA, GA. — Colliers has arranged a 26,285-square-foot lease at Preston Ridge III, a six-story office building located at 3460 Preston Ridge Road in Alpharetta, a northern suburb of Atlanta. The undisclosed tenant has previously subleased space at Preston Ridge III. Deming Fish of Colliers represented the landlord, Hobbs Brook Real Estate (HBRE), in the lease transaction. Preston Ridge III is a newly renovated, 146,000-square-foot office property situated off Ga. Highway 400. New touches to the office building include collaborative areas, fitness center with lockers, a refreshed lobby, common areas and EV charging stations.

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sutton-row-woodstock
DevelopmentGeorgiaMultifamilySoutheast

Mesa Capital Partners Breaks Ground on 290-Unit Sutton Row Apartment Community in Metro Atlanta

by Abby Cox

WOODSTOCK, GA. — Mesa Capital Partners has broken ground on Sutton Row, a 290-unit apartment community located in the Atlanta suburb of Woodstock. Cadence Bank and Atlantic Union Bank are providing construction financing for the development. The project team comprises Focus Design Interiors (interior designer), English & Associates (architect) and Tri-Bridge Residential (general contractor). Amenities at Sutton Row will include a multi-story clubhouse with a resident coffee bar and market, coworking lounge with private conference space and a fitness center that features a yoga studio and spin room. Residents will also have the chance to enjoy various outdoor spaces such as a resort-style swimming pool, covered pavilion with grilling stations and direct access to the future Cherokee County multiuse trail. Leasing is expected to begin in late 2026, with full completion scheduled for 2027.

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