NORCROSS AND PEACHTREE CORNERS, GA. — Cushman & Wakefield has arranged the $76.5 million sale of three apartment communities in Gwinnett County near Atlanta. Mike Kemether and Tyler Averitt of Cushman & Wakefield represented the seller, Audubon Communities, in the transaction. Sabra Property Management acquired Bella, a 318-unit community in Norcross; Hathaway Development LLC acquired Center at Peachtree Corners, a 272-unit community in Peachtree Corners; and Zavala Properties..
CUMMING, MARIETTA AND ATLANTA, GA. — Atlanta-based Stein Investment Group has sold three of its Space Shop Self Storage properties in metro Atlanta totaling approximately 300,000 square feet. Life Storage LP acquired the Cumming, Marietta and Atlanta properties for an undisclosed price on behalf of one of its joint venture partners. The 103,700-square foot Space Shop Cumming features 800 units and was 90 percent leased at the time of sale. Located at 3148 Johnson Ferry Road in Marietta,..
LITHIA SPRINGS, GA. — PointOne Holdings, in a joint venture with Biscayne Atlantic, has sold Waterford Point Apartments, a 344-unit multifamily community in Lithia Springs, for $33.5 million. The buyer was not disclosed. Located at 670 Thornton Road, Waterford Point is roughly 18 miles west of Atlanta. The joint venture originally acquired the property in 2014 for $18.7 million and invested roughly $2.5 million in capital improvements, including upgraded interiors, added amenities and..
ATLANTA — Avison Young has arranged a 10-year, 40,000-square-foot lease for The Boston Consulting Group (BCG), a global management consulting firm, at 100 Peachtree in downtown Atlanta. Phil and Hilton Barry of Avison Young represented BCG in the lease transaction. Scott DeMyer and C. Deming Fish of Colliers International represented the landlord, Zeller Realty Group. BCG is expected to bring roughly 200 jobs to Atlanta upon moving to the building, in an effort to co-locate business support..
JACKSON, GA. — Liberty Property Trust has unveiled plans to develop Liberty Commerce Center, an 840,000-square-foot distribution center in Jackson, roughly 35 miles south of Hartsfield-Jackson Atlanta International Airport. The developer purchased the 80-acre site at the corner of Windy Lane and Midway Road in May. Upon completion, the building will feature 40-foot clear-heights, 56- by 51-foot column spacing, 161 dock doors, a 70-foot speed bay, ESFR sprinkler systems, a truck court with..
WOODSTOCK, GA. — Franklin Street has brokered the $4.1 million sale of The Shops at Eagle Pointe, a 26,960-square-foot retail center located in the Atlanta suburb of Woodstock. John Tennant and Bryan Belk of Franklin Street represented the seller, Indianapolis-based Alpha Opportunity Fund I LLC, in the transaction. D2D Holdings Inc. purchased the asset. At the time of sale, the property was leased to tenants including a gym, dry cleaner, doctor’s office and restaurants.
MCDONOUGH, GA. — Cushman & Wakefield has secured a 295,800-square-foot lease with TravelPro, a provider of travel goods, at 1500 Medline Place in McDonough, roughly 30 miles south of Atlanta. Ray Stache, Lisa Pittman and Greg Dikerson of Cushman & Wakefield represented the landlord, Medline Industries, in the lease transaction. The lease marks TravelPro’s first location in the metro Atlanta market. Constructed in 2016, 1500 Medline Place was 100 percent leased in less than 12 months..
North American Properties to Break Ground on Food Hall at Colony Square in Atlanta’s Midtown District
ATLANTA — North American Properties (NAP) has unveiled plans to develop a 28,000-square-foot food hall at Colony Square, a mixed-use destination at the corner of 14th and Peachtree streets in Atlanta’s Midtown district. Dubbed Main & Main, the food hall will include indoor and outdoor dining space and a staging area designed for a variety of event programming. The area will host Colony Square’s more than 200 signature and seasonal events annually. Restaurant designer and architect..
DULUTH, GA. — Forge Capital Partners has sold Duluth Station, a 94,966-square-foot shopping center located in the Atlanta suburb of Duluth, for $9.8 million. Publix anchors the center, which is 81 percent leased to tenants including Kumon Math & Reading, Great Clips, H&R Block, St. Vincent de Paul, Panda Garden and Grand Tire. Jim Hamilton, Richard Reid, Mike Allison and Brad Buchanan of HFF marketed the property on behalf of Forge Capital. Slate Retail REIT purchased the asset.
CANTON, GA. — Preferred Apartment Communities Inc. has acquired Woodmont Village, an 85,639-square-foot shopping center located 40 miles north of Atlanta in Canton. The Kroger-anchored asset was acquired through the company’s wholly owned subsidiary New Market Properties LLC, which used a non-recourse first mortgage acquisition loan from Protective Life Insurance Co. The seller and terms of the transaction were not disclosed.