Georgia

Berkadia Secures $36.8M Refinancing for Pointe Grand Warner Robins Apartments in Central Georgia

by John Nelson December 22, 2023

WARNER ROBINS, GA. — Berkadia has secured a $36.8 million loan for the refinancing of Pointe Grand Warner Robins, a recently completed, 288-unit apartment community located at 1601 Leverette Road in Warner Robins. Michael Weinberg and Wesley Moczul of Berkadia’s Orlando office arranged the two-year, floating-rate loan on behalf of the developer and borrower, Hillpointe. Situated about 20 miles south of Macon, Ga, the property comprises two-bedroom, 1,170-square-foot apartments across 10 three-story buildings. Amenities include a swimming pool, 24-hour fitness center and a business center. Hillpointe will use the financing to provide a return of equity to its fund and allow for more flexibility in placing permanent debt or selling the property.

December 22, 2023

Acquisitions Georgia Retail Southeast

Publix Purchases Matt Town Center in Metro Atlanta for $30M

by John Nelson December 22, 2023

CUMMING, GA — Publix Super Markets Inc. has purchased Matt Town Center, an 81,077-square-foot shopping center located at 5310 Matt Highway in Cumming, roughly 40 miles northeast of Atlanta. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller, Marietta, Ga.-based Retail Planning Corp., in the $30 million transaction. Publix anchors the property, which was built in 2020. Matt Town Center was 95 percent leased at the time of sale to tenants including Domino’s, Great Clips, North Shore Dry Cleaners, Grand Nails, Sage Dental, Reveille Café, The UPS Store, EasyVet, Dunkin’ and Zaxby’s. The sale also included roughly 3.9 acres of adjacent, undeveloped land that is zoned for retail and office space.

December 22, 2023

Acquisitions Florida Georgia Loans Retail Southeast

BWE Secures $16M Financing for Two Shopping Centers in Florida, Georgia

by John Nelson December 20, 2023

WEST PALM BEACH, FLA. AND LAGRANGE, GA. — BWE has secured two loans totaling $16 million for a pair of shopping centers in Florida and Georgia. The deals include a $6 million loan for the refinancing of Palm Beach Commons, a 70,000-square-foot, Family Dollar-anchored retail center in West Palm Beach, and a $10 million acquisition loan for Publix at Merganser Commons, a newly built, Publix-anchored shopping center spanning 46,791 square feet in LaGrange. Both loans are underwritten with full-term, interest-only payments. The borrowers and direct lenders for both loans were not disclosed.

December 20, 2023

Development Georgia Industrial Southeast

VanTrust Underway on 2 MSF Industrial Build-to-Suit Facility for Burlington Near Savannah

by John Nelson December 15, 2023

ELLABELL, GA. — VanTrust Real Estate is underway on the development of a 2 million-square-foot building within the 515-acre Interstate West industrial park in Ellabell, roughly 30 miles outside Savannah. Burlington Stores Inc. will occupy the build-to-suit property. Dubbed Building D, this marks the fourth and final project at the park, construction of which began in 2021. Buildings A and B span 637,868 and 992,000 square feet, respectively. Building C totals 1.2 million square feet and is leased to The Webstaurant Store Inc. Completion of Building D is scheduled for May 2025. Evans General Contractor is constructing the building, and Pieper O’Brien Herr is the architect. Danny Chase and David Sink of Colliers represented VanTrust in the lease negotiations. Chris Tomasulo and Bennett Rudder of JLL represented Burlington.

December 15, 2023

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Brokers $94M Sale of Alexan Summerhill Apartments in Atlanta

by John Nelson December 14, 2023

ATLANTA — Cushman & Wakefield has brokered the sale of Alexan Summerhill, a new 315-unit apartment community located at 720 Hank Aaron Drive SE in Atlanta’s Summerhill submarket. Weinstein Properties purchased the property from the developers, Trammell Crow Residential and PGIM Real Estate. The sales price was not disclosed, but Atlanta Business Chronicle reported the property traded for $94 million. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the sellers in the transaction. Situated near Georgia State University’s Center Parc Stadium and Convocation Center, as well as a new Publix grocery store, Alexan Summerhill features studio, one- and two-bedroom apartments. Amenities include a clubhouse, fitness center, swimming pool with a tanning ledge and poolside lounge, gaming lounge, event room, indoor/outdoor work from home spaces, podcasting studios, makers space, computer lab with wireless printing, grilling stations, bike storage and repair, EV charging stations, dog park and a pet spa.

December 14, 2023

Development Georgia Industrial Southeast

Caddell Construction Breaks Ground on 2.1 MSF Industrial Development Near Savannah

by John Nelson December 12, 2023

MIDWAY, GA. — Caddell Construction, on behalf of Flint Development, has broken ground on three Class A distribution centers within Dorchester Commerce Park, an industrial park in the metro Savannah city of Midway. The speculative project totals 2.1 million square feet and is expected to deliver by spring 2025. The development will offer immediate access to I-95 and a 33-mile drive to Port of Savannah. The project team includes Davidson Architecture + Engineering and CBRE. The project will comprise a 1.2 million-square-foot building, a 594,522-square-foot cross-dock facility and a 276,062-square-foot facility, which is expected to open in April. Caddell Construction will establish an onsite batching plant to manufacture its own concrete for the development.

December 12, 2023

Georgia Leasing Activity Office Southeast

Granite Properties Inks Five Office Leases in Atlanta Totaling 198,000 SF

by John Nelson December 12, 2023

ATLANTA — Granite Properties has signed five leases between September and November at three of its Atlanta office buildings for a total of 198,000 square feet. The deals included three leases at 100 City View in the Cumberland/Galleria submarket for Murata Electronics North America (50,019 square feet), Insurica (4,097 square feet) and Prairie Capital Advisors (3,598 square feet). Jennifer Koontz, Frances Land Klee, Sam Neel of Pope & Land represented Granite in the lease negotiations at 100 City View. The other two deals included Womble Bond Dickinson’s 27,733-square-foot lease at Midtown Union and an expansion for Amwins at 3630 Peachtree in Buckhead, going from 94,000 square feet to nearly 114,000 square feet. Brooke Dewey and Adam Viente of JLL represented Granite in the Womble Bond Dickinson lease, and Greg Frankum, Matt Spickard and Ansley Chenault of Transwestern represented the firm in the Amwins lease. Tenant representatives for the five deals included Mass Realty, CoRErep, Newmark, CBRE and Ackerman & Co.

December 12, 2023

Acquisitions Georgia Retail Southeast

Marcus & Millichap Brokers $4.2M Sale of Windy Hill West Retail Center in Marietta, Georgia

by John Nelson December 12, 2023

MARIETTA, GA. — Zach Taylor and Eric Abbott of Marcus & Millichap’s Atlanta office have brokered the $4.2 million sale of Windy Hill West, a retail center located at 1995 Windy Hill Road in Marietta, a northern suburb of Atlanta. A private investor based in Atlanta purchased the center. The buyer and seller were not disclosed. Windy Hill West is situated near Dobbins Air Force Base, Cumberland Mall, The Battery and Truist Park, home ballpark of the Atlanta Braves. “This deal closed all-cash above our list price to a private investor local to Atlanta,” says Taylor, senior managing director of investments at Marcus & Millichap. “Demand for quality unanchored retail centers remains at an all-time high, albeit in a challenging capital markets environment.”

December 12, 2023

Development Georgia Mixed-Use Multifamily Office Retail Southeast

PMG, Greybrook Complete Vertical Construction of 31-Story Mixed-Use Tower in Atlanta

by John Nelson December 11, 2023

ATLANTA — Developers PMG and Greybrook have completed the vertical construction of Society Atlanta, a 31-story mixed-use tower situated at 811 Peachtree St. NE in the Midtown district of Atlanta. Upon completion, the development will feature 460 apartments, 87,000 square feet of office space and 14,500 square feet of ground-floor retail space. Amenities at the property will include a sky pool deck, coworking lab, fitness studio, entertainment lounges, yoga lawn and smart package lockers. Juneau Construction Co. is the general contractor for the project, which is scheduled for completion in fall 2024. Cooper Carry is the architect. Cushman & Wakefield and Bridger Properties will handle leasing for the office and retail spaces, respectively. PMG launched the Society Living multifamily brand, which includes more than 8,500 planned units, in 2019.

December 11, 2023

Development Georgia Industrial Leasing Activity Southeast

Automotive Parts Supplier Signs 136,000 SF Lease at 2,600-Acre Logistics Park in Savannah

by John Nelson December 11, 2023

SAVANNAH, GA. — Automotive parts supplier Kyungshin America Corp. (KAC) has signed a 136,000-square-foot lease at Savannah Gateway Industrial Hub (SGIH) in Georgia. Scheduled to open in February 2024, the facility will import and distribute automotive components to Hyundai Motor Group’s new, $7.5 billion electric vehicle plant underway near Port of Savannah and throughout the Southeast. SGIH, which comprises a total 2,600 acres, is a public-private partnership between the Effingham County Industrial Development Authority (ECIDA) and Broe Real Estate Group, the real estate affiliate of The Broe Group.

December 11, 2023

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