SAVANNAH, GA. — Terra Alma has begun leasing the retail space at a master-planned development currently underway in Savannah. Totaling 11,000 square feet, the space is situated within the EmmaJames at Savannah Harbor property along the Savannah River on Hutchinson Island, which also features apartments and townhomes. Amenities at the development will include a marina and outdoor concert theater. An undisclosed seafood concept has signed the first retail lease.
ATLANTA — Greystar has begun leasing the first available units at Nomia, a 33-story high-rise apartment tower that will be located at 17th and Peachtree streets in Midtown Atlanta. The Charleston-based developer plans to officially open the 281-unit property this fall. Nomia will feature one-, two- and three-bedroom apartments, as well as penthouses with large floor-to-ceiling windows. Amenities will include a rooftop pool and terrace, spa, TULU luxury vending service, a fitness center and structured parking with electric vehicle charging stations, as well as street-level retail space. Nearby attractions include the High Museum, Museum of Design Atlanta (MODA) and Woodruff Arts Center, and global employers including NCR, PwC, Coca-Cola, Google, Norfolk Southern and AT&T have regional campuses in close proximity to Nomia.
ATLANTA — Global Real Estate Advisors (GREA) has arranged the $11.4 million sale of Westside Crossing, a multifamily community located at 2265 Perry Blvd. in Atlanta’s Upper Westside neighborhood. Built in 1962, the community features 112 units in studio, one-, two- and three-bedroom floor plans. Taylor Brown, Chandler Brown and Mack Leath of GREA arranged the transaction on behalf of the seller, Greenleaf Partners. Zavala Capital acquired the property.
PEACHTREE CORNERS, GA. — Waramaug Hospitality has acquired Atlanta Marriott Peachtree Corners, a 222-room hotel located at 475 Technology Parkway in Peachtree Corners. The seller and sales price were not disclosed. Situated within the 500-acre Technology Park, the hotel features a fitness center, indoor pool and an outdoor fire pit seating area, as well as more than 5,000 square feet of meeting space across nine rooms. Waramaug Hospitality has selected Aimbridge Hospitality to manage the hotel, which underwent a multimillion-dollar renovation in 2018, according to multiple media outlets.
ATLANTA — Ackerman & Co. has completed the acquisition of a 395,269-square-foot industrial property adjacent to Hartsfield-Jackson Atlanta International Airport. Situated at 4099 Old Dixie Highway in Atlanta, the property comprises two distribution facilities within the three-building Henry Ford Distribution Center. Building 1 totals 165,365 square feet, and Building 2 spans 229,904 square feet. Tenants at the facilities, which were fully leased at the time of sale, include Delta Air Lines, Morrison Express, Aviation Inflatables, Restoration Sleep, Tara Plastics and Mile Marker Logistics. The seller and sales price were not disclosed.
SAVANNAH, GA. — Pennsylvania-based EQT Exeter has purchased Southeast Gateway, a 1.2 million-square-foot, two-building industrial park located at 400 and 450 Fort Argyle Road in Savannah. The seller, Conor Commercial Real Estate, sold the property for an undisclosed price. Conor Commercial owned the asset with William Harris Investors and tapped Colliers to lease Southeast Gateway. JLL represented the seller in the transaction. Both buildings were fully leased at the time to single tenants. Swiss Madison, a manufacturer of bath products, occupies the 184,080-square-foot Building 1, and Maersk Warehousing and Distribution Services occupies the 1 million-square-foot Building 2. Situated on a 137-acre site, Southeast Gateway is located one mile from I-95, six miles from I-16 and 15 miles from the Port of Savannah.
ATLANTA — Trammell Crow Co. and partner Georgia Advanced Technology Ventures (GATV) have topped out Science Square Labs, a 13-story research-and-development (R&D) facility located adjacent to the Georgia Tech campus in Atlanta. GATV is a cooperative organization of Georgia Tech. The 368,258-square-foot building is part of the first phase of Science Square, an 18-acre mixed-use development that will offer laboratory, R&D offices, dining options and residences. Brasfield & Gorrie is the general contractor on Phase I of Science Square. Also part of the first phase is a 280-unit residential tower by High Street Residential, an affiliate of Trammell Crow Co. The developers aim to deliver Phase I in the first quarter of 2024. Designed by Perkins & Will, Science Square Labs will feature wet and dry laboratories, collaborative spaces, food-and-beverage outlets, a fitness center, interactive conference rooms, indoor/outdoor lounge, catering kitchen and six “graduator” speculative lab/office suites that will accommodate growing life sciences firms. Additionally, Cherry Street Energy is installing a 38,000-square-foot solar panel array atop the parking garage. The design-build team is aiming for Science Square to achieve LEED Gold and WELL certifications. In addition to the topping out, the ownership group has signed the first tenant at Science …
ATLANTA — Mill Creek Residential has broken ground on Modera Westside Trail, a 373-unit luxury apartment community in Atlanta’s West Midtown neighborhood. The site is located at 576 Northside Drive, which is adjacent to the western boundary of the Georgia Tech campus and one block south of the new Echo Street West mixed-use development. Modera Westside Trail will comprise studio, one-, two- and three-bedroom units, as well as 37 residences under Mill Creek’s proprietary Premium Collection brand that will feature upgraded finishes. The property will feature immediate access to the Atlanta BeltLine’s Westside Trail, as well as a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, steam room, coworking space, resident clubhouse with shuffleboard, onsite dog park and pet spa and a fitness center with cardio equipment, yoga studio, TRX system and Peloton bikes. Other amenities will include digital package lockers, controlled-access garage parking, EV charging stations, loaner bikes, bike repair station, bike storage and additional storage space. Mill Creek is anticipating first move-ins for fall 2025.
ATLANTA — Greystone Monticello, a joint venture between Greystone and Monticelloam LLC, has provided two loans totaling $68.3 million for the refinancing of The Irby, a 12-story apartment building in Atlanta’s Buckhead district. The financing comprised a $60.3 million bridge loan and an $8 million mezzanine loan. Greystone Commercial Capital, a division of Greystone, arranged the financing on behalf of the borrower, an affiliate of Lone Star Funds. The Irby was developed in 2020 and features 277 studio, one- and two-bedroom apartments, as well as a resort-style saltwater pool, elevated courtyard with a fire pit and grilling station, private cabanas, 24-hour athletic club and yoga studio, complimentary wine on-tap, sauna, media and game room, onsite pet spa, bike room and repair station, Peloton bikes, high-rise lookout terrace, 24/7 concierge and a curated art program.
ATLANTA — One of the central questions of the investment panel at InterFace Seniors Housing Southeast was: Will transaction activity return in the fourth quarter? When Brooks Blackmon, panel moderator and executive managing director of Blueprint Healthcare Real Estate Advisors, asked the question, there was a quick response from the panel — “no.” “Return to what?” asked Kelly Sheehy senior managing director of Artemis Real Estate Partners. “Higher than today? Yes. Compared to 2019? No, it’s going to take time.” InterFace Seniors Housing Southeast is an annual conference hosted by France Media’s InterFace Conference Group, Seniors Housing Business and Southeast Real Estate Business. The event was held on Wednesday, Aug. 16 at the Westin Buckhead Atlanta hotel. Blackmon moderated the discussion. The panelists agreed that the fly in the ointment that has stifled investment sales the past few quarters has been the rapid runup in interest rates. The 10-year Treasury yield was at 4.3 percent at the time of this writing, which is the highest level since 2007. The secured overnight financing rate (SOFR) and federal funds rate, two short-term benchmark interest rates, have risen by more than 500 basis points in roughly 16 months. “Until debt markets improve, you’re …
