PEACHTREE CITY, GA. — Plymouth Industrial REIT has acquired a 295,693-square-foot industrial building in Peachtree City for $19.4 million. The property was fully leased at the time of sale to 15 tenants including Metal Tech-USA, a specialty fabricator and distributor of architectural systems and high-end metals; Gerresheimer, a specialty glass and products manufacturer to the pharmaceutical and healthcare industries; and M-OK Freight Corp., a freight services company specializing in warehousing and distribution services. The asset is located at 611 Ga. Highway 74 S., in the Fayette/Coweta Industrial submarket, 26 miles south of Hartsfield-Jackson Atlanta International Airport. The seller was not disclosed.
ATLANTA — A joint venture between Urban Realty Partners and Case Pomeroy Properties has sold two neighboring apartment complexes totaling 217 units in Atlanta’s Grant Park neighborhood for $48.2 million. The George and The Leonard are located at 275 Memorial Drive SE and 301 Memorial Drive, respectively, less than a mile east of downtown Atlanta. The communities offer one- and two-bedroom floor plans. Communal amenities include 11,581 square feet of retail space, a clubhouse, business center, pet play area, pet washing area, fitness center and a swimming pool. Mike Kemether, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller in the transaction. Grubb Properties acquired the buildings.
CALHOUN, GA. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.
ATLANTA — Selig Enterprises has secured $340 million in construction financing for 1105 West Peachtree, its three-tower, mixed-use development in Midtown Atlanta. The project will feature a 675,000-square-foot office tower, a 64-unit condominium tower, and a 178-room Epicurean Hotel. The towers will also house 25,000 square feet of ground-floor retail. The Blackstone Group Inc. provided the construction loan, partially financing the $530 million project. “We have been fortunate enough to already garner the attention of some prominent tenants in the market including the signing of Smith, Gambrell & Russell for five floors [of the office tower],” says Chris Ahrenkiel, executive vice president of Selig Development. “The preleasing activity allowed for strong finance and equity options and also warranted an increase in the building size to over 675,000 square feet — the single largest tower to start construction in Atlanta in more than a decade.” Selig is partnering with Mainsail Lodging & Development to build The Epicurean Atlanta hotel, which will operate under the Marriott Autograph Collection banner. The hotel will offer 178 rooms, a full-service culinary program, conference and event facilities, and an outdoor terrace on the ninth floor. 40 West 12th will offer condos ranging from $600,000 to $2.2 million, in …
ACWORTH AND LITHONIA, GA. — JLL has negotiated the sale of two Publix-anchored shopping centers near Atlanta: Publix at Acworth and Centre at Panola in Lithonia. Publix at Acworth is located at 3507 Baker Road in Acworth, 30 miles northwest of downtown Atlanta. The 69,628-square-foot center was 98 percent leased at the time of sale to tenants including CVS/pharmacy, WellStar, Domino’s Pizza, Coast Dental Services, Supercuts and Cricket Wireless. Centre at Panola is located at 3007 Panola Road, 15 miles east of downtown Atlanta. Centre at Panola was fully leased at the time of sale to tenants including Marco’s Pizza, Let’s Talk Therapy, Cricket Wireless and Benchmark Physical Therapy. Jim Hamilton, Mike Allison and Brad Buchanan of JLL represented the seller, an undisclosed publicly traded REIT, in the sale. Rothenberg-Rosenfield Inc. acquired both properties for an undisclosed price.
TUCKER, GA. — Emory Healthcare has signed a 224,000-square-foot lease at ATR Corinth Partners’ redevelopment of the former Northlake Mall in Tucker. Emory Healthcare will occupy the former Sears building and an additional portion of the 1 million-square-foot mall with an option for more space in the future. Dallas-based ATR Corinth purchased Northlake Mall in January 2016 from former real estate trust company WP Glimcher, now Washington Prime Group. At full buildout, the property will offer office space, new retail and a mix of sit-down, fast-casual and quick-service restaurant concepts. Construction of the retail portion of the project is slated to begin in early 2020. JC Penney and Macy’s will remain as anchor tenants and will be open during construction. Deming Fish of Colliers International’s Atlanta office will handle office leasing efforts and Amy Kennedy of TCSG will market the retail portion. Wakefield Beasley & Associates Architects Inc. is providing design and architectural services for the renovation and redevelopment.
AUGUSTA, GA. — Cushman & Wakefield has negotiated the $41 million sale of Estates at Perimeter, a 240-unit multifamily community in Augusta. The property offers one- through three-bedroom floor plans. Communal amenities include a bark park, clubhouse, media center, car care center, fitness center, playground and a swimming pool. Estates at Perimeter was built in 2007 in west Augusta where Interstates 20 and 520 meet. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the sellers, Coastal Ridge Real Estate and H. Katz Capital, in the transaction. Young Homes acquired the property.
JEKYLL ISLAND, GA. — PMZ Realty Capital LLC has arranged a $29 million refinancing loan for two hotels on Jekyll Island in Georgia: Holiday Inn Resort Jekyll Island and Beachview Club, both of which have recently been fully renovated. The borrower, Georgia Coast Holdings, acquired the 157-room Holiday Inn in 2013, fully gutted it and reopened the property in 2015. Amenities at the oceanfront hotel include fully renovated rooms, a fitness center, coffee bar, outdoor bar and grill, new swimming pool and a play area for children. Georgia Coast Holdings bought Beachview Club in 2017. The ownership renovated the 38-room asset into a boutique beachfront hotel with amenities such as a courtyard, beach access and a Keurig coffee machine in each room. North Pointe Hospitality LLC will manage both properties. The lender was not disclosed.
ATLANTA — Chick-fil-A has signed an office lease to occupy the sixth floor of 725 Ponce, a new mixed-use development located on Atlanta BeltLine’s Eastside Trail adjacent to Ponce City Market. The 40,000-square-foot space will house 250 corporate employees and will be an extension of the company’s support center south of Atlanta. Chick-fil-A is expected to move into the new space in summer 2020 when the buildout is complete. A 60,000-square-foot Kroger recently opened at the base of 725 Ponce. Jon Mayeske and Janelle Beasley of Cushman & Wakefield represented the tenant in the lease negotiations. Aileen Almassy, also of Cushman & Wakefield, represented the landlord, New City Properties.
ROME, GA. — Southeastern Mills has opened a 140,000-square-foot distribution center in Rome. The center is expected to handle more than 300 shipments per month for the Rome-based food company. The facility also offers a video conferencing system and automated doors with trailer restraints. Rome is situated 65 miles north of downtown Atlanta.