Georgia

Barings to Convert 45,000 SF of Vacant Office Space at 3445 Peachtree in Atlanta to Speculative Suites

by John Nelson October 10, 2022

ATLANTA — Barings plans to convert approximately 45,000 square feet of vacant office space at 3445 Peachtree in Atlanta’s Buckhead district to speculative suites. Spread across five spaces within the 14-story, 287,000-square-foot office building, these suites will range in size from 3,000 square feet to a full 23,000-square-foot floor. Furniture will be provided within some of these spaces and each spec suite will include exposed ceiling duct work and floor plans that invite collaboration. New tenants will also have access to several Class A amenities available to all 3445 Peachtree tenants. No construction timeline was disclosed. According to research from CBRE, metro Atlanta currently has 500,000 square feet of spec suites under construction, which represents about 28 percent of the market’s existing inventory of spec suite space (1.8 million square feet).

October 10, 2022

Acquisitions Georgia Multifamily Southeast

Northmarq Secures Sale of Avana Druid Hills Apartments in Decatur, Georgia

by John Nelson October 10, 2022

DECATUR, GA. — Northmarq has secured the sale of Avana Druid Hills, a 228-unit apartment community located at 3471 N. Druid Hills Road in Decatur, a suburb of Atlanta. Jason Nettles, Megan Thompson and Peter Chacon of Northmarq represented both the buyer, Atlanta-based RangeWater Real Estate, and the seller, Charleston-based Greystar, in the transaction. The sales price was not disclosed. Greystar had previously invested $1.2 million for exterior upkeep at Avana Druid Hills, including new roofing, balcony repair, retaining wall replacement and an LED lighting package. Built in 1985, the pet-friendly, garden-style property features a saltwater pool, outdoor lounge with a fire pit, fitness studio, clubhouse, grill, picnic area, tennis court, business center, onsite storage, coffee bar and a car care facility.

October 10, 2022

Development Georgia Industrial Southeast

Seefried Properties to Develop 738,720 SF Industrial Facility in Calhoun, Georgia

by John Nelson October 6, 2022

CALHOUN, GA. — Seefried Properties has purchased a 56-acre site in Calhoun with plans to develop Grove 75 Logistics Center, a 738,720-square-foot industrial facility. The spec facility is expected to be completed in the third quarter of 2023. The Class A building will feature 40-foot clear heights, 167 dock-high cross-docking doors (including four drive-in doors), trailer and auto parking spaces, LED interior lighting, ESFR sprinklers and office space. Located on Union Grove Road, the site is located a half-mile from I-75 and near the newly developed Appalachian Regional Port. Project partners include general contractor The Conlan Co., civil engineer Southland Engineering and architectural firm Atlas Collaborative. Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will handle the marketing and leasing for Grove 75 Logistics Center.

October 6, 2022

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

Berkadia Brokers $73M Sale of Build-to-Rent Residential Property in Savannah

by John Nelson October 5, 2022

SAVANNAH, GA. — Berkadia Institutional Solutions has brokered the $73 million sale of Beacon Place Godley Station, a 252-unit build-to-rent multifamily community located at 165 W. Mulberry Blvd. in Savannah. Russ Hardy of Berkadia’s Atlanta office represented the unnamed seller in the transaction. Washington-based Wilkinson Corp. purchased the property, which features one-, two- and three-bedroom single-family rental homes. Amenities include a swimming pool, fitness center and a business center. Richard Levine of Berkadia’s Atlanta office arranged a $51 million, three-year acquisition loan through Bridge Investment Group on behalf of Wilkinson Corp.

October 5, 2022

Development Georgia Leasing Activity Mixed-Use Southeast

Judge Commercial Adds Six New Tenants at West Broad Redevelopment Project in Savannah

by John Nelson October 4, 2022

SAVANNAH, GA. — Judge Commercial has welcomed six new commercial tenants at West Broad, a mixed-use redevelopment of the historic 300 block of Martin Luther King Jr. Boulevard in west Savannah. The new tenants include Savannah Square Pops, Origin Coffee Bar, Chewning Interiors, AMPT-Savannah, Smithereens and National Marine Sanctuary Foundation. Existing tenants at West Broad include Forsight Eye Care, Rethink Design and Sweet Peach Cosmetic Tattoo. West Broad’s first floor is fully leased and there are commercial and coworking spaces available for lease on the second and third floors, according to Judge Commercial. The 300 block was originally constructed between 1910 and 1922 and housed the landmark Thrifty Supply Center hardware store for 60 years. Urban design and civic architecture firm Sottile and Sottile oversaw the redesign of the four-story, 60,000-square-foot adaptive reuse project.

October 4, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Stonecrest Resorts Signs 12 Tenants as Part of Stonecrest Mall Redevelopment in Metro Atlanta

by John Nelson October 3, 2022

STONECREST, GA. — Stonecrest Resorts LLC, developer of the Sears adaptive reuse project at The Mall at Stonecrest in metro Atlanta, has announced 12 new tenants coming to the development. Phase I of the redevelopment project, called Priví, was the arrival of the SeaQuest Interactive Aquarium that opened in November 2021. The second phase of the project is set to open this fall and include Hand & Stone Massage and Facial Spa; Baldwin’s Literary Social Bookstore & Coffee Bar; 3 Degrees Infrared Sauna Suites; The Lions Cage MMA Fight & Fitness Gym; Garden Life Juice Bar & Café; The Original Hot Dog Factory; Picasso’s Splat Room; Naturally Gifted Treasures & Finds; and Bricks 4 Kidz. In addition to the new shops and restaurants, Phase II will include 6,000 square feet of event space, a coworking space, studios and a fine art gallery. Construction of Phase III and the development of Phase IV will continue this winter, with a planned opening of an upper-level food hall in summer 2023 and the TRYP by Wyndham hotel coming on line in 2024. Once fully developed, Priví will be a family entertainment and lifestyle destination featuring over 200,000 square feet of eateries, shops, services, …

October 3, 2022

Development Georgia Multifamily Southeast

Novare Group, BCDC Break Ground on 306-Unit Apartment Community in Metro Atlanta

by John Nelson September 30, 2022

SUGAR HILL, GA. — Novare Group and BCDC have broken ground on a 306-unit apartment community located in Sugar Hill, a suburb of Atlanta in Gwinnett County. The development is situated on more than 23 acres off Highway 20 near the recently built downtown Sugar Hill district, which houses The Bowl, The Eagle Theater, shops and restaurants. The property will also be integrated into the Sugar Hill Greenway, a 11.5-mile greenway and trail system that traverses the city. Upon completion, the gated property will feature a mix of two-story townhouses and traditional apartment units. Planned amenities include a fitness center with a yoga studio, game room, library, outdoor green space, coworking lounge, private garages and a resort-style pool with a sun shelf and tanning ledge. The project team includes construction lenders Cadence Bank and South State Bank, architect Dynamik Design, civil engineer Kimley-Horn and general contractor Doster Construction. Novare and BCDC expect to deliver first units in the fourth quarter of 2023.

September 30, 2022

Development Georgia Industrial Southeast

LPC Southeast Breaks Ground on 404,000 SF Industrial Facility in Calhoun, Georgia

by John Nelson September 29, 2022

CALHOUN, GA. — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Calhoun 75 Commerce Center, a 404,000-square-foot distribution center located near I-75 on Belwood Road in Calhoun, about 68 miles northwest of Atlanta. Set to deliver in fall 2023, the front-load facility will feature 36-foot clear heights, 67 dock-high doors, 74 trailer parking spaces and 278 auto parking spaces. The property will also offer tenant amenities including an outdoor grill and lounge area, as well as an additional 1.2 acres of land available for excess parking. Denton Shamburger, Turner Fortin and Colin Beecham of LPC Southeast will oversee the construction, marketing and leasing of the building.

September 29, 2022

Development Georgia Hospitality Mixed-Use Multifamily Office Southeast

MetLife, Granite Complete Midtown Union Mixed-Use Development in Atlanta

by John Nelson September 28, 2022

ATLANTA — MetLife Investment Management and Granite Properties have delivered Midtown Union, a mixed-use development located at 1331 Spring St. in Midtown Atlanta. The project comprises three buildings: a 26-story office tower, the 26-story Mira at Midtown Union apartment high-rise and the 14-story Kimpton Shane Hotel. The office and multifamily towers opened in July, and the hotel just opened on Sept. 21. The office tower spans 612,000 square feet and will be anchored by Invesco, which plans to occupy 300,000 square feet beginning in early 2023. The Mira comprises 355 studio, one-, two- and three-bedroom apartments, as well as upscale amenities. Kimpton Hotels & Restaurants will operate the hotel, which features 230 rooms, meeting and event space, the Hartley Kitchen and Cocktails restaurant and the Aveline cocktail lounge. MetLife partnered with StreetLights Residential on the apartment tower and AMS Hospitality on the Kimpton Shane Hotel. The design-build team for the overall Midtown Union campus includes architect Cooper Carry and general contractor Brasfield & Gorrie, as well as Studio 11 Design for the hotel design. Brooke Dewey and Adam Viente (office) and Coleman Morris (retail) of JLL are leading leasing efforts at Midtown Union.

September 28, 2022

Development Georgia Industrial Southeast

Seefried Properties Breaks Ground on 447,753 SF Industrial Facility in Adairsville, Georgia

by John Nelson September 26, 2022

ADAIRSVILLE, GA. — Seefried Properties has broken ground on a 447,753-square-foot industrial facility in Adairsville, a city in North Georgia equidistant between Atlanta and Chattanooga. The project, dubbed Adairsville 75, is located near I-75 on a 36-acre site at 2334 Trimble Hollow Road, about 36 miles from the newly completed Appalachian Regional Port. Upon completion in June 2023, the new speculative distribution center will feature 36-foot clear heights, 50- by 53.4-foot column spacing, 94 dock doors (four drive-in), parking for 185 vehicles and an additional 71 spaces for trailers. Joseph Kriss and Tripp Ausband of Seefried, along with Austin Kriz and Tom Cromartie of JLL, will handle the marketing and leasing for the project. The design-build team includes general contractor The Conlan Co., civil engineer Eberly & Associates and architect of record Atlas Collaborative.

September 26, 2022

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