MARIETTA, GA. — Cushman & Wakefield has negotiated the sale of Kingston Court, a six-property industrial portfolio in Marietta. The facilities total 220,373 square feet and feature 18-foot clear heights and dock-high and drive-in doors in a combination of rear- and front-load configurations. The buildings were originally developed between 1978 and 1981. The portfolio is situated at 2171, 3002, 3061, 3062, 4012 and 4041 Kingston Court, a half-mile from Interstate 75 and 16 miles northwest of downtown Atlanta. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the seller, Clarion Partners, in the transaction. Dallas-based Stonelake Capital Partners purchased the portfolio for an undisclosed price.
ATLANTA AND SCHIPHOL, NETHERLANDS — Americold Realty Trust (NYSE: COLD) has agreed to acquire Agro Merchants Group, a privately held cold storage warehouse owner based in The Netherlands, for $1.74 billion. Atlanta-based Americold entered into the agreement with Agro Merchants’ owner, an investor group led by funds managed by Los Angeles-based Oaktree Capital Management LP. The move will give Americold its first cold storage properties in Europe. Agro Merchants, which has its North American headquarters in Alpharetta, Ga., owns and operates 46 cold storage properties in 10 countries. The company is the fourth largest cold storage owner in the United States and third largest in Europe. Agro Merchants serves more than 2,900 customers across multiple industries. “We are confident that by joining Americold, we will accelerate our growth and by combining our complementary networks, we will be able to provide a more comprehensive range of solutions to customers around the world,” says Carlos Rodriguez, CEO of Agro Merchants. Americold is the only publicly traded REIT specializing in cold storage, which is seeing an influx of investment and leasing demand since the onset of the pandemic. According to a June report from Vyzn Research, the global cold storage sector is estimated …
CUMMING, GA. — Retail Planning Corp. has opened a Publix grocery store within Matt Town Center in Cumming on Friday, Oct. 9. The 48,387-square-foot store is located at the intersection of Matt Highway and Bannister Road, 48 miles north of downtown Atlanta. Other tenants at the center include Reveille Café, Laredo’s Cantina & Taqueria, Peaches & Pine, Great Clips, Alpha Nail Salon and The UPS Store. Hill Foley Rossi & Associates LLC was the architect, and RW Smith Co. was the general contractor.
ATLANTA — Puttshack, a technology-infused mini-golf operator from the same team behind Topgolf, has broken ground on a new location at The Interlock in Atlanta. The 25,000-square-foot Puttshack is expected to open in spring 2021. The property will feature four mini-golf courses, a bar and an indoor-outdoor rooftop patio. The location will open at 1085 Howell Mill Road, three miles north of downtown Atlanta and two miles from an existing Topgolf location. Local firm S.J. Collins Enterprises is developing The Interlock, a $450 million, nine-acre development. The property is expected to open next spring and will feature 200,000 square feet of office space; 105,000 square feet of retail and restaurant space; 349 apartments and 18 townhomes as part of the Solis Interlock; 70 townhomes by Monte Hewett Homes; and a 161-room Bellyard boutique hotel with a lobby, restaurant and bar.
NEWNAN, GA. — A joint venture between PointOne Holdings, Batson-Cook Development Co. (BCDC) and Novare Group has sold Promenade at Newnan Crossing, a 298-unit apartment community in Newnan, for $65.8 million. The property, which was delivered in 2019, comprises a mix of three-story buildings offering apartment units and for-rent townhomes with units averaging 942 square feet. The community spans 24 acres and offers studio to three-bedroom floor plans. Communal amenities include a pool, clubhouse, car charging station, fitness center, a business center and storage space. Glen Allen, Va.-based Capital Square 1031 acquired the asset. David Gutting of Newmark Knight Frank (NKF) represented the sellers in the transaction. Humphreys & Partners Architects and Kimley-Horn & Associates Inc. designed the community. Hathaway Construction Services was the general contractor. Promenade at Newnan Crossing is located at 1450 Newnan Crossing, 37 miles southwest of downtown Atlanta. The property is situated near LINC, a 25.5-mile walking trail.
STONE MOUNTAIN, GA. — Colliers International has negotiated the $3.8 million sale of Indian Creek Crossing, a 63,650-square-foot, grocery-anchored shopping center in Stone Mountain. Food Depot anchors the center, which was 88 percent leased at the time of sale to tenants including Family Dollar and local retailers. Indian Creek Crossing is situated at 4100 Redan Road, 11 miles east of downtown Atlanta. Joe Montgomery and Tony D’Ambrosio of Colliers represented the seller, Tarrytown, N.Y.-based DLC Management. Locally based private investor Vishal I LLC acquired the asset, which was originally built in 1994.
ATLANTA — Pinewood Atlanta Studios, home of blockbuster films such as Avengers: Endgame, has rebranded as Trilith Studios and unveiled a new 935-acre master development in South Atlanta. The project includes the studio as well as businesses, custom homes, “micro villages,” restaurants and schools, all aimed at servicing the film and creative industries. Plans call for more than 220,000 square feet of new spaces on the campus, including a “Creative Office Centre” designed to house content and technology companies as well as 60,000 square feet of stages with computer-generated production technologies. Trilith Development LLC says it “aims to connect business with lifestyle through a European-inspired town that serves as the development’s cultural center.” Construction on the walkable community began two years ago with plans to house 5,000 residents in 1,400 homes, including 600 multifamily units. Barleygarden Kitchen & Craft Bar is the first of 12 food concepts to complement the shops in Town Centre, a 270,000-square-foot retail development. Half of the project is dedicated to green space. Residents will have access to 15 miles of nature trails and 19 landscaped parks. Plans also call for Piedmont Wellness Center, The Forest School and a 60,000-square-foot fitness facility. The Georgia Film Academy …
UNION CITY, GA. — Crow Holdings Industrial (CHI) has sold South Fulton Logistics Center, a 234,000-square-foot industrial facility in Union City. CHI delivered the asset in April 2019. The facility features 32-foot clear heights and was 68 percent leased at the time of sale to Greenball Corp., a manufacturer and wholesaler of tires. South Fulton Logistics Center is situated at the intersection of Hunter and Mason roads, six miles west of Hartsfield-Jackson Atlanta International Airport. TA Realty acquired the property for an undisclosed price.
ATLANTA — Third & Urban and FCP have unveiled plans for Westside Paper, a 245,200-square-foot mixed-use project in Midtown Atlanta along the Atlanta BeltLine. The property spans 15 acres and sits on the former site of the Atlanta Paper Co. industrial campus. Construction is underway at the site, which will include 223,800 square feet of office space, 21,400 square feet of retail and restaurant space and 10,000 square feet of outdoor space. Gay Construction Co. is the general contractor. Aileen Almassy, Will Porter and Porter Henritze of Cushman & Wakefield will lease the office space on behalf of the owners. Initial occupancy is planned for October 2021. The developers acquired the land in late 2019 and are working with Atlanta BeltLine Inc. (ABI) to ensure a right-of-way connection to the BeltLine, a network of walking and biking trails throughout the city. Elsas May & Co. originally developed the campus in the 1950s as a packaging plant for Coca-Cola. The property is situated at 950 W. Marietta St., four miles northwest of downtown Atlanta.
NORCROSS, GA. — JLL has arranged the $11.7 million sale of Plaza 85 Business Park, a nine-building industrial and office building campus in Norcross. The property comprises 191,526 square feet and is situated on 13.8 acres. The industrial building feature 12- to 18-foot clear heights, dock-high and drive-in doors and a combination of rear- and front-loading configurations. At the time of sale, the asset was leased to 31 tenants. The business park is situated at 5970-6040 Unity Drive, less than one mile from Interstate 85 and 18 miles northeast of downtown Atlanta. Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor of JLL represented the seller, Sperry Equities, in the transaction. Atlanta-based WePartner purchased the asset.