REBusinessOnline

Georgia

Woodbine Legacy Investments Purchases W Atlanta-Buckhead for $73M

ATLANTA — Woodbine Legacy Investments (WLI) has acquired W Atlanta-Buckhead, a 12-story, 291-room hotel in Atlanta’s Buckhead district. The sales price was not disclosed, but the Atlanta Business Chronicle reports the Texas-based private real estate fund, created by Woodbine Development Corp. in June, acquired the asset for $73 million. Mark Elliott and Todd Ratliff of Hodges Ward Elliott brokered the transaction. W Atlanta-Buckhead is home to Whiskey Blue, a rooftop bar and Cook Hall..

July 26, 2017

Simpson Organization, Harbert Management Sell Office Building in Midtown Atlanta for $35.3M

ATLANTA — A joint venture between The Simpson Organization and Harbert Management Corp. has sold 730 Midtown, an 11-story, Class A office building in Atlanta’s Midtown district, for $35.3 million. David Meline and Samir Idris of Cushman & Wakefield represented the seller, and Mike Ryan and Brian Linnihan of Cushman & Wakefield arranged acquisition financing on behalf of the buyer, Crestlight Capital. Located at 730 Peachtree Street N.E., the 217,090-square-foot office building..

July 26, 2017

BMW to Break Ground on Training Facility Near Atlanta Airport

COLLEGE PARK, GA. — BMW will develop a new technical training center on the Georgia International Convention Center (GICC) campus in College Park, roughly two miles from Hartsfield-Jackson International Airport. The facility will span 4.1 acres and will bring approximately 10,000 BMW professionals annually for corporate training. The BMW training facility joins other new developments in College Park including ThePad on Harvard, a multifamily community; the expansion of the Federal Aviation..

July 25, 2017

Big V Capital Acquires 207,404 SF Shopping Center in South Atlanta

JONESBORO, GA. — Big V Capital LLC has purchased Crossroads South, a 207,404-square-foot shopping center located at 7965 Tara Blvd. in Jonesboro, roughly 17 miles south of Atlanta. The center was 91 percent leased at the time of sale to tenants including Kroger, Badcock Furniture, Planet Fitness, Roses, Subway, UPS and H&R Block. Big V Properties, the property management affiliate of Big V Capital, will manage the retail center. The sales price and seller were not disclosed.

July 25, 2017

Ziff Properties Purchases Retail Center in Metro Atlanta for $8.7M

MARIETTA, GA. — Ziff Properties Inc. has acquired Burnt Hickory Village, a 56,640-square-foot retail center located in Marietta, roughly 20 miles north of Atlanta, for $8.7 million. Robby Pfeiffer of Marcus & Millichap facilitated the transaction. The seller was not disclosed. Chicken and the Egg, a farm-to-table restaurant, is housed in the center.

July 25, 2017

Atlanta Multifamily Market Continues Strong Performance in All Asset Classes

In 2016 and the first quarter of this year, Atlanta’s economy boomed, showing several positive signs that point to another banner year for the multifamily market. From December 2016 through February 2017, Atlanta added 96,700 total non-farm jobs, an increase of 3.7 percent over the same time the previous year. Additionally, in 2016 the city experienced 3 percent wage growth overall. This translates to a robust multifamily market with solid fundamentals. According to Axiometrics,..

July 24, 2017

JGRE/CORFAC International Sells Office Building in Buckhead for $20M

ATLANTA — Joel & Granot Real Estate/CORFAC International (JGRE) has sold a 108,000-square-foot office building located at 550 Pharr Road in Atlanta’s Buckhead district. The property is situated at the northwest corner of Pharr and Piedmont roads. Alan Joel and Dan Granot of JGRE represented 550 Buckhead LLC, an entity made up of JGRE, its Dallas-based mezzanine partner Rainer and other investors, internally in the sale to Charlotte-based Stone Street Capital. JGRE and Rainer originally..

July 21, 2017

CGI Strategies Sells Mixed-Use Development in Atlanta’s Sweet Auburn District

ATLANTA — CGI Strategies has sold City Walk, a mixed-use development located at 171 Auburn Ave. N.E. in Atlanta’s Sweet Auburn Avenue Historic District. The six-story property includes 144 one- and two-bedroom units and approximately 30,500 square feet of street-level retail space. Property amenities include a rooftop tennis court, poolside resident lounge and a 24-hour fitness center. CGI sold the apartment portion of the property to San-Francisco-based FPA Multifamily and the retail..

July 19, 2017

Marcus & Millichap Brokers $5.3M Sale of Apartment Community in Brunswick, Georgia

BRUNSWICK, GA. — Marcus & Millichap has arranged the sale of Merritt Landing, a 128-unit multifamily community located at 5700 Altama Ave. in Brunswick, approximately seven miles west of St. Simons Island. Francesco Carriera, Michael Regan, Kurt McGarry and Rich Merryman of Marcus & Millichap represented the seller, a financial institution, and the buyer, a private investor. Michael Fasano of Marcus & Millichap also assisted in the transaction.

July 18, 2017

Atlanta’s Office Market Continues to Thrive, Though a Test Looms on the Horizon

It is no secret that Atlanta has been a booming market in the post-recession era. Metro Atlanta added more than 85,000 jobs in 2016, while the unemployment rate has dropped to 4.9 percent, back to a prerecession level (2007). Atlanta has ranked near the top of the largest 10 office markets in annual job growth, outpacing the likes of New York, Los Angles and Chicago. There was 3.3 percent job growth in 2016, outpaced by only one large metropolitan peer, Dallas-Fort Worth. Rent Growth The..

July 17, 2017