Stonis, Mayson to Lead SRS Investment Properties Group Out of Atlanta

ATLANTA — SRS Real Estate Partners has formalized leadership in the Southeast for its Investment Properties Group, which focuses on multi-tenant investment sales. Managing principal Kyle Stonis and principal Pierce Mayson out of Atlanta will lead the multi-tenant investment sale activity, recruiting and expansion efforts in the region. Since joining in 2011, Stonis and Mayson have established their group as one of the top investment sales teams in the Southeast. The duo has completed over $1..

April 28, 2017

City of Atlanta Unveils Plans for $48M Grant Park Gateway Near Zoo Atlanta

ATLANTA — The City of Atlanta has unveiled plans for Grant Park Gateway, a $48 million underground parking and mobility facility located at an existing eight-acre surface parking lot adjacent to Zoo Atlanta in the city’s Grant Park district. The new LEED-certified property will feature a park on the roof of the facility with green infrastructure elements and a restaurant offering regional cuisine, as well as approximately 1,000 parking spaces. The overall project will complement Zoo..

April 26, 2017

Variety Wholesalers Leases 1.4 MSF for Distribution Center in Newnan, Georgia

NEWNAN, GA. — Variety Wholesalers has signed a 20-year, 1.4 million-square-foot lease for its new distribution center at 60 Herring Road in Newnan. LRC Properties owns and manages the property, which is a former Kmart distribution center. LRC purchased the building last August and made improvements to the facility's roof and parking lots, as well as refit the building to accommodate multiple tenants. Variety Wholesalers, which is the first tenant to move into the space, operates nearly 400..

April 26, 2017

Vesper Holdings Acquires Student Housing Community Near Georgia Southern for $28.5M

STATESBORO, GA. — Vesper Holdings has acquired The Forum at Statesboro, a 780-bed student housing community located near Georgia Southern University in Statesboro, for $28.5 million. The property comprises 13 three-story residential buildings and a clubhouse, and offers one-, two-, three- and four-bedroom units. Community amenities include a swimming pool, 24-hour fitness center, game room, indoor basketball court, tennis and volleyball courts, tanning beds, a business center and a dog park...

April 26, 2017

Columbia Property Trust Signs 92,000 SF of Leases at Office Building in Atlanta’s Central Perimeter

ATLANTA — Columbia Property Trust has completed more than 92,000 square feet of leases since November 2016 at One Glenlake Parkway, a 351,000-square-foot office building in Atlanta’s Central Perimeter submarket. Five new tenants are moving in with leases ranging from 3,000 square feet to more than 66,000 square feet, bringing One Glenlake’s occupancy to 94 percent. The Atlanta-based REIT recently wrapped up a $3 million modernization of the office building, which is situated off Ga. 400..

April 25, 2017

PMZ Realty Capital Provides $82.5M Loan for Embassy Suites Hotel in Downtown Atlanta

ATLANTA — PMZ Realty Capital has closed an $82.5 million loan for Embassy Suites by Hilton Atlanta at Centennial Park, a 321-room hotel located at 267 Marietta St. in downtown Atlanta. Situated near Centennial Olympic Park in Atlanta’s Luckie-Marietta district, the hotel features 16,000 square feet of meeting space and an outdoor pool and spa. The borrower, Legacy Property Group, is using the floating-rate financing to retire existing debt on the hotel, which has recently undergone a $10..

April 24, 2017

Preferred Apartment Communities Buys Publix-Anchored Center in Metro Atlanta

CUMMING, GA. — Preferred Apartment Communities Inc. (PAC), a publicly traded REIT based in Atlanta, has purchased Castleberry-Southard, an 80,018-square-foot shopping center located near Ga. 400 in Cumming, a suburb of Atlanta in Forsyth County. Situated at the intersection of Castleberry and Bethelview roads, the shopping center is anchored by a 45,600-square-foot Publix store. PAC purchased the asset for an undisclosed price through its subsidiary New Market Properties LLC, which now has 32..

April 24, 2017

Care Investment Trust, Phoenix to Purchase Memory Care Community in Metro Atlanta

FAYETTEVILLE, GA. — Care Investment Trust LLC has partnered with affiliates of Phoenix Senior Living to purchase Hope Center Memory Care, a 64-unit seniors housing property in Fayetteville, about 22 miles south of Atlanta. Built in 2013, Hope Center provides care and activities for its residents, all of which need specialized memory care. Phoenix Senior Living plans to enhance the living experience of current and future residents through improved programming. The joint venture has hired a..

April 21, 2017

Dominion Partners to Open Two Somerby Seniors Housing Communities in the Southeast

SANDY SPRINGS, GA. AND FRANKLIN, TENN. — On the heels of opening seniors housing community Somerby Sandy Springs in the Atlanta suburb of Sandy Springs, Dominion Partners also plans to open Somerby Franklin in the Nashville suburb of Franklin within the next two months. Somerby Sandy Springs includes 128 independent living units, 48 assisted living units and 24 memory care units on a six-acre plot. Details were not released on the Franklin property. Based in Birmingham, Ala., Dominion..

April 20, 2017

CBRE Arranges Lease for New Brewery Pontoon in Metro Atlanta

SANDY SPRINGS, GA. — CBRE has arranged an 11,000-square-foot lease for Pontoon, a new brewery coming to Northridge Business Center in Sandy Springs, a northern suburb of Atlanta. The brewery will be located across the street from a Coca-Cola bottling plant on Dunwoody Place, situated directly between Ga. 400 and Roswell Road. Set to open in September, the first location for Pontoon will feature a large taproom and dockside décor, as well as tours, tastings, growler and crowler sales, events,..

April 19, 2017