Georgia

Halpern Signs Marshalls, Five Below to Leases Totaling 26,450 SF at Old Orchard Square in Ellijay, Georgia

by John Nelson November 20, 2023

ELLIJAY, GA. — Halpern Enterprises has signed two new leases totaling 26,450 square feet at Old Orchard Square, a 131,200-square-foot shopping center located in Ellijay, roughly 80 miles north of Atlanta. Halpern has owned the property, which is anchored by a 68,000-square-foot Ingles grocery store, since 1994. Marshalls will replace Black Bear Antiques in an 18,000-square-foot space, and Five Below will occupy 8,450 square feet at the center. Other tenants include BenchMark Physical Therapy, Okinawa Restaurant, UPS, Pizza King and Farmer’s Home Furniture.

November 20, 2023

Development Georgia Industrial Southeast

Dermody Plans 181,000 SF Industrial Project in Douglasville, Georgia

by John Nelson November 17, 2023

DOUGLASVILLE, GA. — Dermody Properties plans to develop LogistiCenter at Bright Star, a 181,000-square-foot industrial project located in Douglasville, roughly 23 miles west of Atlanta. Upon completion, the property will feature two logistics buildings that will be divisible for up to three tenants each. Building 1 will comprise 113,400 square feet and feature 32-foot clear heights, 50- by 45-foot column spacing with a 60-foot speed bay, 28 dock-high doors, two drive-in doors, approximately 90 car parking spaces and ESFR fire protection. Building 2 will total 68,040 square feet with 32-foot clear heights, 40- by 54-foot column spacing with a 60-foot speed bay, 26 dock-high doors, two drive-in doors, approximately 50 car parking spaces and ESFR fire protection. Construction is scheduled to begin early next year. Mason Marstellar of Hughes Commercial Real Estate represented Dermody Properties in the deal.

November 17, 2023

Acquisitions Georgia Retail Southeast

Franklin Street Arranges Sale of 66,387 SF Shopping Center in Metro Atlanta

by John Nelson November 17, 2023

MCDONOUGH, GA. — Franklin Street has arranged the sale of Kelleytown Village, a 66,387-square-foot shopping center located at 3500 Highway 155 N in McDonough, roughly 30 miles southeast of Atlanta. Publix anchors the property, which was constructed in 2022. Other tenants at the center include Your Pie, Allure Nails, UPS and 100% Chiropractic. Bryan Belk and John Tennant of Franklin Street represented the seller, Georgia- and Alabama-based Venture South Investments, in the transaction. The buyer and sales price were not disclosed.

November 17, 2023

Georgia Leasing Activity Office Southeast

Banyan Street Capital Signs 109,963 SF of Office Leases at Satellite Place in Duluth, Georgia

by John Nelson November 16, 2023

DULUTH, GA. — Banyan Street Capital has signed 109,963 square feet of office leases at Satellite Place, a 117-acre office park in Duluth, a northeast suburb of Atlanta. The 21 transactions include 13 new leases or expansions totaling 89,926 square feet and six renewals totaling 20,037 square feet. Eight of the leases (for 46,527 square feet) are tied to the electric vehicle (EV) industry, including a 17,808-square-foot lease with Hyundai Glovis. Situated near I-85, Satellite Place comprises 820,000 square feet of six-story office space. Banyan Street Capital has recently partnered with Greystar for a 328-unit multifamily development underway at Satellite Place. The property, known as Elan Satellite Place, is expected to deliver in early 2025.

November 16, 2023

Georgia Loans Southeast Student Housing

Vesper Recapitalizes 850-Bed Student Housing Community Near Kennesaw State University in Metro Atlanta

by John Nelson November 14, 2023

KENNESAW, GA. — Vesper Holdings has recapitalized West 22, an 850-bed student housing property located near the Kennesaw State University campus in metro Atlanta. Vesper owns the community through a joint venture partnership with an undisclosed investor. West 22 offers a mix of cottage and apartment units in one- through five-bedroom configurations. Shared amenities include a two-story fitness center, outdoor kitchen, basketball court, sand volleyball court, firepit and a hammock garden. The partnership plans to execute $3 million in capital improvements at the property over the next two years, including the addition of new flooring in units, lighting and cabinet upgrades, the addition of Nest thermostats and smart locks, and renovations to the clubhouse, gym and swimming pool. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE’s National Student Housing team represented Vesper in the transaction, along with CBRE’s Kevin Geiger and Shea Campbell. Timothy Bradley and Austin Kinn of TSB Capital Advisors arranged the financing on behalf of the joint venture.

November 14, 2023

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

Parkland Receives Zoning Approval for 124-Unit BTR Residential Development in Fayetteville, Georgia

by John Nelson November 13, 2023

FAYETTEVILLE, GA. — Alpharetta, Ga.-based Parkland Communities has secured zoning approval from the City of Fayetteville’s Planning & Zoning Commission for the development of Morgan Park, a 124-unit build-to-rent townhome community to be located between East Laier and Booker avenues. Situated on 9.3 acres roughly 22 miles outside of Atlanta, Morgan Park will feature two- and three-bedroom townhomes ranging from 1,636 to 1,958 square feet. Each townhome will feature a one-car garage and covered outdoor living space. Amenities at the property will include a clubhouse, pool, cabana and dedicated mail kiosk. Monthly rental rates at the community will begin at $2,400. A construction timeline was not disclosed.

November 13, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

X-Golf Opens 6,800 SF Entertainment Venue at $500M Halcyon Development in Metro Atlanta

by John Nelson November 10, 2023

ALPHARETTA, GA. — X-Golf has opened a 6,800-square-foot golf simulator and sports bar venue at RocaPoint Partners’ $500 million Halcyon development in Alpharetta. Halcyon comprises 135 acres of mixed-use space roughly 30 miles northeast of Atlanta along Ga. 400. X-Golf occupies space on the ground-floor of Halcyon Grand, an apartment community located within the development. X-Golf’s venue features seven bays for group golf simulation, as well as a full bar serving beer, cocktails and appetizers. JLL represented RocaPoint in lease negotiations.

November 10, 2023

Development Georgia Multifamily Southeast

FIDES Delivers 160-Unit Perry Apartments in Norcross, Georgia

by John Nelson November 9, 2023

NORCROSS, GA. — Locally based FIDES Development has delivered The Perry, a 160-unit, garden-style apartment community in the Atlanta suburb of Norcross. The gated development is situated at the intersection of Jimmy Carter and Peachtree Industrial boulevards. Ware Malcomb provided interior architecture and design services for the amenity spaces, which include a hospitality zone and lounge that comprises the pool and a lobby featuring custom specialty millwork, TVs, sofas and games. Other amenity spaces include a bike room, coworking space, office work rooms, mail room, pet spa area and a gym. Fortune-Johnson was the general contractor for The Perry, which commands rents beginning at $1,500 per month, according to Apartments.com.

November 9, 2023

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges Sale of 358-Unit Ansley at Town Center Apartments Near Augusta

by John Nelson November 9, 2023

EVANS, GA. — Cushman & Wakefield has arranged the sale of Ansley at Town Center, a 358-unit apartment community in the Augusta suburb of Evans. The Shoptaw Group purchased the property from Spyglass Capital Partners for an undisclosed price. Taylor Bird, Nelson Abels, Laura Aylor and Jaime Slocumb of Cushman & Wakefield represented the seller in the transaction. Built in 2009 and 2012, Ansley at Town Center features a clubhouse with billiards and a coffee bar, business center, fitness center, saltwater pool and sundeck, pet play area, Luxer package locker room and grilling stations.

November 9, 2023

Acquisitions Georgia Retail Southeast

Coro Realty Acquires 153,486 SF Noonday Creek Crossing Shopping Center in Kennesaw, Georgia

by John Nelson November 8, 2023

KENNESAW, GA. — Coro Realty has acquired Noonday Creek Crossing, a 153,486-square-foot shopping center located at 2911 George Busbee Parkway in Kennesaw, a northern suburb of Atlanta. An affiliate of Fletcher Bright Co. sold the retail center to Coro Realty for an undisclosed price. Situated on 15 acres adjacent to Kennesaw State University’s sports and entertainment complex, Noonday Creek Crossing was fully leased at the time of sale to tenants including Burlington, PGA Tour Superstore and Medici Medical Arts Center. The shopping center was built in 1996 and renovated in 2005. Zach Taylor of Institutional Property Advisors brokered the sale. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE arranged an $8.6 million acquisition loan through Affinity Bank on behalf of Coro Realty.

November 8, 2023

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