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Georgia

Marcus & Millichap Arranges $13.5M Sale of Multifamily Community in Savannah

SAVANNAH, GA. — Marcus & Millichap has arranged the $13.5 million sale of Heritage Square, a 168-unit apartment community located at 9111 White Bluff in Savannah. John Brigel of Marcus & Millichap arranged the transaction on behalf of the undisclosed sellers and procured the buyer. Additional terms of the transaction were not disclosed. Constructed in 1971, Heritage Square includes one- and two-bedroom units and features a business center, fitness center, clubhouse and a swimming

November 3, 2017

Westdale, StreetLights Break Ground on Apartment, Retail Community in Metro Atlanta

SANDY SPRINGS, GA. — Westdale, in a joint venture with StreetLights Residential, has broken ground on Aria Village, a new retail and residential development in Sandy Springs, roughly 15 miles north of downtown Atlanta. Aria Village will include 30,000 square feet of retail and restaurant space, along with a five-story apartment community dubbed The Alastair at Aria Village. The project is part of Aria, a master-planned community under development by Ashton Woods. Located adjacent to the new..

November 2, 2017

ICSC Panelists Say Government Involvement is Key in Thwarting ‘Retail Apocalypse’

ATLANTA — Tim Keane, commissioner of planning and community with the City of Atlanta, didn’t mince words when it came to his thoughts on the government’s role with new retail development. “Everyone in this room should have higher expectations for their cities and towns,” says Keane, addressing the crowd during the ICSC Southeast Conference & Deal Making event held at the Cobb Galleria Centre in Atlanta in mid-October. The panel discussion, dubbed “Debunking the Retail..

November 2, 2017

Five New Restaurants to Join The Hub in Downtown Atlanta’s Peachtree Center

ATLANTA — Five new eateries have inked leases at The Hub, the retail portion of downtown Atlanta’s Peachtree Center. The new restaurants are part of a project from Banyan Street Capital to renovate and modernize the mixed-use destination’s retail center. Amy Fingerhut of CBRE arranged leases with the new tenants, which will open on a rolling schedule beginning later this year and into early 2018. The new tenants include Salata, a build-your-own salad chain that will open its third..

November 1, 2017

Amazon to Open 1 MSF Fulfillment Center in Macon, Georgia

MACON, GA. — Amazon has unveiled plans to open a 1 million-square-foot fulfillment center in Macon. The new center will create more than 500 new full-time jobs upon opening, and will be the company’s fourth warehouse and distribution hub in Georgia. The e-commerce giant currently operates facilities in Braselton, Lithia Springs and Union City. Employees at the new facility will pick, pack and ship large-sized items, including household furniture, sporting equipment and gardening tools. New..

October 31, 2017

Cushman & Wakefield Arranges $29.8M Land Sale in Atlanta for Future Mixed-Use Development

ATLANTA — Cushman & Wakefield has arranged the $29.8 million sale of a land site located at the corner of Memorial Drive and Bill Kennedy Way in Atlanta’s Reynoldstown submarket. The site was formerly occupied by manufacturer Leggett & Platt. Matt Hawkins, Pierce Owings and Ron Willingham of Cushman & Wakefield represented the undisclosed seller in the transaction. Atlanta-based Fuqua Development acquired the 17-acre property, with plans to develop a $250 million mixed-use..

October 31, 2017

Berkadia Arranges $27.9M Sale of Three-Property Multifamily Portfolio in Jacksonville

JACKSONVILLE, FLA. — Berkadia has arranged the $27.9 million sale of three apartment communities in Jacksonville. Tal Frydman, Greg Rainey and Cole Whitaker of Berkadia represented the seller, Nova Eagle, in the transaction. Infinity Acquisitions LLC acquired the assets. The portfolio includes: Reserve at Water’s Inlet, a 205-unit community located at 6100 Arlington Expressway; Magnolia I, a 276-unit community located at 2045 Jammes Road; and Magnolia II, a 112-unit community located at..

October 26, 2017

Starlight Buys Newly Built, 330-Unit Multifamily Community in Metro Atlanta

DULUTH, GA. — Starlight U.S. Multifamily has acquired The Heights at Sugarloaf, a 330-unit apartment community in Duluth, roughly 30 miles northeast of Atlanta. The sales price was not disclosed. Constructed this year by The Worthing Cos., The Heights at Sugarloaf is situated within the Sugarloaf Market development, a 30-acre mixed-use project. Upon completion, Sugarloaf Market will feature 80,000 square feet of commercial space including a national grocery retail anchor tenant and a future..

October 26, 2017

Cushman & Wakefield Brokers $55.4M Sale of Two Multifamily Assets in Metro Atlanta

NORCROSS, GA. — Cushman & Wakefield has brokered the $55.4 million sale of two apartment communities in Norcross, roughly 25 miles northeast of Atlanta. The portfolio includes the 386-unit Sienna Heights, which sold for $32.2 million, and the 301-unit Hickory Grove, which sold for $23.2 million. Tyler Averitt and Robbie O’Bryan of Cushman & Wakefield represented the seller, Schorr Investments, in the transaction. Comunidad Realty Partners acquired both properties. Constructed in..

October 24, 2017

New Food Hall to Open at Coda Development in Midtown Atlanta’s Tech Square

ATLANTA — The Collective, a new food hall concept, is set to join the forthcoming Coda development underway at 771 Spring St. in Midtown Atlanta’s Tech Square. The Collective will include eight to 10 eateries with communal seating areas opening up into a 20,000-square-foot outdoor space. The historic three-story Crum & Forster building located on the property will serve as an 8,000-square-foot, full-service restaurant with patio seating that will transition to the outdoor space. In..

October 24, 2017