Georgia

Ackerman Purchases New 212,232 SF Distribution Center in Conyers, Georgia

by John Nelson June 21, 2023

CONYERS, GA. — Ackerman & Co. has purchased a newly built, 212,232-square-foot distribution center located at 2020 E. Park Drive in Conyers, about 30 miles east of downtown Atlanta. The developer, Dayton Street Partners, sold the property to the locally based developer for an undisclosed price. Built in late 2022, the facility is located in Atlanta’s I-20 East submarket in Rockdale County. The rear-load building features 32-foot clear heights, two drive-in dock doors, more than 200 car parking spaces and a truck court with 41 parking spaces. Brett Buckner and Chris Miller of Ackerman & Co. will direct leasing efforts at the property, which offers options starting at 50,000 square feet.

June 21, 2023

Development Georgia Multifamily Seniors Housing Southeast

Highlands Residential, Perennial Properties Plan 148-Unit Active Adult Community in Lawrenceville, Georgia

by John Nelson June 20, 2023

LAWRENCEVILLE, GA. — Highlands Residential and Perennial Properties have formed a joint venture to build Park Place Apartments, a 148-unit active adult community in Lawrenceville, approximately 30 miles northeast of Atlanta. Construction of the project is already underway, and first move-ins are scheduled for 2024. The senior population of Gwinnett County is expected to grow by 33.6 percent over the next 10 years and Atlanta metro wide by 47 percent, according to the developers. Atlanta-based Highlands Residential is the developer and at completion Perennial Properties will be the property manager. The group also developed and manages The Chateau by Highlands, a 152-unit luxury active adult community in Braselton, about 20 miles further northeast of Park Place.

June 20, 2023

Georgia Leasing Activity Office Southeast

Financial Tech Firm Debuts Headquarters at One Phipps Plaza in Atlanta’s Buckhead District

by John Nelson June 14, 2023

ATLANTA — Resurgens Technology Partners, a tech-focused private equity firm, has opened its new 15,000-square-foot headquarters office at One Phipps Plaza, a newly built, Class A office tower in Atlanta’s Buckhead district. The office building anchors the newly expanded Phipps Plaza mixed-use campus, which is owned by mall REIT Simon and includes the Nobu Hotel & Restaurant, five-story Life Time athletic club and Citizen’s Market food hall. Resurgens Technology Partners has offices in Austin, London and Silicon Valley in addition to Atlanta. Other office tenants at One Phipps Plaza include aluminum rolling and recycling company Novelis and financial giant Goldman Sachs & Co.

June 14, 2023

Development Georgia Multifamily Southeast

McShane Construction Delivers 240-Unit Authentix Cartersville Apartments in Metro Atlanta

by John Nelson June 13, 2023

CARTERSVILLE, GA. — McShane Construction Co. has delivered Authentix Cartersville, a 240-unit multifamily community located at 5000 Canton Highway in Cartersville. The 25-acre site is situated about 45 miles north of downtown Atlanta via I-75. Developed by Wisconsin-based Continental Properties, Authentix Cartersville comprises 10 two-story, wood-framed buildings housing one-, two- and three-bedroom floor plans. Excel Engineering designed the community to feature a clubhouse with a coffee bar, 24-hour fitness center, resort-style swimming pool, barbeque area and a sun deck. The pet-friendly community also offers a leash-free dog park and a pet spa. Authentix Cartersville is the 22nd apartment community that McShane has constructed for Continental Properties.

June 13, 2023

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

ARK Homes Begins Leasing 237-Unit Build-to-Rent Property in Brunswick, Georgia

by John Nelson June 13, 2023

BRUNSWICK, GA. — Single-family rental operator ARK Homes for Rent has begun leasing Walker Point, a 237-unit build-to-rent residential property in Brunswick, a coastal city about 80 miles south of Savannah. The property features three floor plan options ranging from two to four bedrooms. Amenities will include a clubhouse, fitness center, swimming pool and a dog park. Monthly rents will start at $1,650, according to ARK Homes.

June 13, 2023

Georgia Market Reports Office Southeast Southeast Market Reports

What Atlanta Office Workers Need Is Energy at Their Doorstep

by John Nelson June 12, 2023

Five blocks doesn’t seem that far. It’s about a quarter of a mile, or 560 steps. But, it’s just a hair past convenient for today’s office workers. Now more than ever, tenants are seeking an office experience that is dynamic and energized with amenities. They want great options for coffee, lunch or happy hour that are steps away, not blocks. If it’s not right outside the office, it’s not close enough. In Atlanta, the Midtown submarket is still where the action is. In 2022, Midtown had 775,652 square feet of positive absorption, which was the highest in the metro according to Cushman & Wakefield. In keeping with the flight-to-quality trend, Atlanta leasing activity last quarter was dominated by Class A product, which accounted for 75.6 percent of all transactions. Most of this activity occurred in Midtown. With a Walk Score of 87, Midtown is Atlanta’s most walkable submarket. But even there, it’s the vertically integrated office developments that bring a new layer of urban density that are rising above the rest. Not only are they seeing more leasing demand, but they are also experiencing a constant hum of activity and energy due to immediate access to great retail and restaurants. …

June 12, 2023

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Brokers $91M Sale of Reserve at Sugarloaf Apartments in Metro Atlanta

by John Nelson June 9, 2023

DULUTH, GA. — Cushman & Wakefield has brokered the $91 million sale of The Reserve at Sugarloaf, a multifamily community located at 2605 Meadow Church Road in Duluth, roughly 27 miles northeast of Atlanta. Built in 2002, the property comprises 333 units averaging 1,225 square feet in size. Amenities at the community include an indoor-outdoor fitness center, pool, pet park, internet café and car care center. Robert Stickel, Alex Brown, Ashlyn Warren and Wesley Lacefield of Cushman & Wakefield arranged the transaction on behalf of the seller, an institutional client of New York Life Real Estate Investors. Olen Properties acquired the asset.

June 9, 2023

Acquisitions Georgia Industrial Southeast

EverWest Purchases 268,400 SF Industrial Development in Rex, Georgia

by John Nelson June 9, 2023

REX, GA. — EverWest Real Estate Investors has purchased an industrial property located at 9485 Highway 42 North in Rex, roughly 20 miles outside Atlanta. InLight was the developer and seller. Situated on 21.1 acres, the development features two recently completed speculative distribution buildings totaling 268,400 square feet. The buildings span 130,000 and 138,400 square feet, respectively, and feature 32-foot clear heights, LED lighting, ESFR sprinklers, wide columns and 72 dock and four drive-in doors. Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman of JLL arranged the sale.

June 9, 2023

Acquisitions Georgia Retail Southeast

Dowd Cos. Arranges $16.3M Sale of Horizon Village Shopping Center in Suwanee, Georgia

by John Nelson June 7, 2023

SUWANEE, GA. — The Dowd Cos., a boutique real estate investment sales firm based in West Palm Beach, Fla., has arranged the $16.3 million sale of Horizon Village Shopping Center in Suwanee. The 97,000-square-foot shopping center is located at 2855 Lawrenceville-Suwanee Road in metro Atlanta’s Gwinnett County. Movie Tavern and YouFit Health Clubs anchor the property, which was built in 1996, according to LoopNet Inc. John Dowd and Theresa Johnson of The Dowd Cos. represented the seller in the transaction. Both the buyer and seller requested anonymity.

June 7, 2023

Acquisitions Georgia Retail Southeast

JLL Brokers Sale of 301,711 SF Lakeland Plaza Shopping Center in Cumming, Georgia

by John Nelson June 6, 2023

CUMMING, GA. — JLL has brokered the sale of Lakeland Plaza, a 301,711-square-foot shopping center in Cumming, a northern suburb of Atlanta along Ga. Highway 400. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed sellers in the transaction. Octave Holdings and Investments purchased the center for an undisclosed price. Built in 1990 and renovated in 2015, Lakeland Plaza’s tenant roster includes Sprouts Farmers Market, Belk, Bealls Outlet, LA Fitness, Joann Fabric and Crafts and Shoe Gallery. The center was 94 percent leased at the time of sale and featured a weighted average tenure of over 12 years.

June 6, 2023

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