Georgia

Kubota Opens 280-Acre Research, Development Center in Gainesville, Georgia

by Julia Sanders April 8, 2022

GAINESVILLE, GA. — Farming and construction machinery producer Kubota North America Corp. has opened a 280-acre research and development (R&D) center in Gainesville, approximately 50 miles northeast of Atlanta. The firm invested more than $85 million to build the new facility. The center houses engineering offices, workshops and testing labs. Outside of the facility, there are tracks for testing turf, utility vehicles, tractors and construction equipment. Kubota is opening the facility with 70 engineering and technical employees and plans to grow to nearly 200 employees over the next five years. According to Phil Sutton, vice president for Kubota Manufacturing of America, the firm already employs more than 3,000 team members in the state of Georgia across manufacturing, sales, distribution and engineering operations. The new R&D center is fully powered by renewable energy and built on the sustainable principles. The center is powered in part by solar panels and the parking lot features a solar-powered roof to support electric vehicle charging stations. Kubota North America Corp. is the parent company for Grapevine, Texas-based Kubota Tractor Corp. and Gainesville-based Kubota Manufacturing of America. “This new R&D center here in Georgia is going to allow us to continue to innovate products and solution …

April 8, 2022

Georgia Loans Multifamily Southeast

Eastern Union Secures $83.3M Bridge Loan for Multifamily Property in Atlanta’s Vinings District

by Julia Sanders April 8, 2022

ATLANTA — New York-based Eastern Union has secured an $83.3 million bridge loan for The Halsten at Vinings Mountain, a 440-unit multifamily property in Atlanta. Michael Muller of Eastern Union arranged the non-recourse, two-year loan, which has three 12-month extension options. The loan was underwritten with interest-only payments for a period of up to three years. The borrower was not disclosed. Formerly known as Stone Ridge at Vinings, The Halsten offers studio, one-, two- and three-bedroom floorplans. Completed in 1973, the property spans 452,385 square feet. The new owner plans to upgrade the property’s exteriors and modernize and renovate the interiors. Unit features include walk-in closets, patios and balconies and washer and dryer hookups. Community amenities include a business center, clubhouse, playground, tennis court, grill, picnic area, fitness center, laundry facilities and a pet play area. Located at 3000 Cumberland Club Drive, the property is situated two miles from The Battery Atlanta and 15.7 miles from downtown Atlanta.

April 8, 2022

Acquisitions Development Georgia Multifamily Southeast Student Housing

Aspen Square Purchases Student Housing Property in Carrollton, Georgia, Plans Multifamily Conversion

by Julia Sanders April 8, 2022

CARROLLTON, GA. — Aspen Square Management has purchased Timbercrest at Carrollton, a 240-unit, 792-bed student housing community in Carrollton. Sean Baird of Colliers arranged the transaction. DoubleLine Capital sold the property for an undisclosed price. The buyer plans to convert the student housing community into a multifamily property. Since 2019, the community has undergone capital improvements totaling nearly $1.1 million, which included upgrades to the pool, basketball courts, courtyard and technology package. The property was 87 percent occupied at the time of sale. Located at 316 Columbia Drive, the property is situated about one mile from the University of West Georgia and 46.2 miles from the Hartsfield-Jackson Atlanta International Airport.

April 8, 2022

Development Georgia Retail Southeast

Eden Rock, Connolly Break Ground on $120M Mixed-Use Project in Metro Atlanta

by Julia Sanders April 7, 2022

MARIETTA, GA. — Atlanta-based partners Eden Rock Real Estate Partners and Connolly have broken ground on Kroger at MarketPlace Terrell Mill, a $120 million mixed-use project at the intersection of Terrell Mill and Powers Ferry roads in Marietta. Construction started last month, and the project is expected to open in April 2023. The developers are constructing a 90,000-square-foot building on a 10.8-acre parcel of land to house the Kroger at MarketPlace Terrell Mill. Planned features for the building will include a drive-thru pharmacy, dedicated area for online order pickups and an 18-pump Kroger Fuel Center. The new store will replace an existing Kroger, which is situated on Delk and Powers Ferry roads less than a half-mile from the center. That store was built in 1983 and is approximately half the size of the new store. Kroger will join a tenant lineup at MarketPlace Terrell Mill that includes Chick-fil-A, Panera Bread, Regions Bank and Wendy’s, all of which are open and operating. The site also houses a nearly 100,000-square-foot Extra Space Storage location and Marketplace Vista Apartments, which sold a year ago for $87 million. MarketPlace Terrell Mill is situated on nearly 24 acres and features eight land parcels. The mixed-use …

April 7, 2022

Development Georgia Hospitality Office Retail Southeast

Jamestown Begins Construction on Ponce City Market Expansion in Atlanta

by Julia Sanders April 6, 2022

ATLANTA — Jamestown has begun construction on the expansion of Ponce City Market by more than 700,000 square feet in the adaptive reuse project’s next phase of development. The addition will include a four-story office building, 405-room hospitality building and a 163-unit multifamily property. The office and hospitality components are expected to open in 2024, and the multifamily component is slated for completion by the end of 2023. At the corner of Ponce de Leon Avenue and Glen Iris Drive, 619 Ponce will be an office building that will feature 90,000 square feet of office space and 23,000 square feet of ground-level retail space. Additionally, the 21-story hospitality building will be located at the corner of Glen Iris Drive and Glen Iris Way and will offer fully furnished units with flexible short-term and long-term stays, including by-the-night stays and one-year terms. The property will also include 12,000 square feet of retail space. Located directly adjacent to the Atlanta BeltLine at North Avenue, Signal House will be a 21-story, 163-unit multifamily building with 3,300 square feet of retail space. The property will be designed for active adults and the 55-plus community. The floorplans will range in size from one- to three-bedrooms. …

April 6, 2022

Acquisitions Georgia Retail Southeast

JLL Arranges Sale of 69,396 SF Abercorn Walk Shopping Center in Savannah

by Julia Sanders April 5, 2022

SAVANNAH, GA. — JLL Capital Markets has arranged the sale of Abercorn Walk, a 69,396-square-foot retail center in Savannah. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL marketed the property on behalf of the seller. Chattanooga-based GBT Realty Corp. purchased the property for an undisclosed price. Abercorn Walk is anchored by The Fresh Market. Other tenants at the property include Ethan Allen, Soma Intimates, White House Black Market, Chico’s, Nadeau, Jos. A. Bank, J. Jill, Talbots, StretchLab and Cycle Bar. Located at 5525 Abercorn St., the property is situated 20 miles from Tybee Island and 14.5 miles from the Savannah/Hilton Head International Airport.

April 5, 2022

Company News Georgia Leasing Activity Restaurant Retail Southeast

Whataburger Opens Two Restaurants in Metro Atlanta, Plans Six More Around Georgia

by Julia Sanders April 4, 2022

CORPUS CHRISTI, TEXAS — Whataburger, a Corpus Christi-based fast food burger chain, is opening its first metro Atlanta restaurants this year. The two locations will be situated at 705 Town Park Lane NW in Kennesaw and 9766 GA-92 in Woodstock. At its Kennesaw location, Whataburger plans to hire 180 employees, and to employ more than 1,400 employees in the metro Atlanta area restaurants by the end of 2023. In 2023, other Whataburger locations will open around metro Atlanta including at 503 Lakeland Plaza in Cumming; SEQ Buford Drive and Exchange Drive in Buford; 3321 Lexington Road in Athens; 3201 Atlanta Highway in Athens; 100 Pottery Road in Commerce; and 15 Wallace Blvd. in Dawsonville. Whataburger currently has one Georgia restaurant in Thomasville. The burger chain has over 880 locations across 14 states.

April 4, 2022

Acquisitions Georgia Hospitality Southeast

Radco Purchases 315-Room American Hotel in Downtown Atlanta

by Julia Sanders April 1, 2022

ATLANTA — The Radco Cos. has purchased The American Hotel, a 315-room, full-service hotel in downtown Atlanta. Legacy Ventures sold the property for an undisclosed price but will stay on to manage the property. Opened in 1962 as the American Motor Hotel, the property was the first racially integrated hotel in downtown Atlanta. In the past, The American Hotel also hosted meetings of influential civil rights leaders such as Martin Luther King Jr. Legacy Ventures completed a $16 million renovation program in 2017, including rebranding the property as The American Hotel, to restore and revitalize the property. The Radco Cos. plans to build on these upgrades and rebrand the asset to Hilton’s new Tapestry Collection brand. Located at 160 Ted Turner Drive NW, The American Hotel is situated 12.1 miles from Hartsfield-Jackson Atlanta International Airport. The hotel is also directly across the street from the AmericasMart, a wholesale trade show center.

April 1, 2022

Georgia Leasing Activity Retail Southeast

Fashion Retailer Joins Tenant Line-Up at Atlantic Station in Atlanta

by Julia Sanders March 30, 2022

ATLANTA — International fashion and leisure department retailer YOYOSO will open its first Atlanta store at Atlantic Station, a mixed-use destination in Atlanta’s West Midtown area that features over 30 stores and restaurants, entertainment, hotels and 700,000 square feet of Class A office space, including a new office tower anchored by Microsoft. Located at 260 18th St. NW, the 8,244-square-foot space will include both men’s and women’s apparel at affordable prices from over 600 suppliers across the globe. YOYOSO is set to open its doors this fall. YOYOSO was founded in 2014 by Huan MA in China and opened its first location in the United States in 2019 with a Miami Beach storefront. The fashion enterprise has since expanded to over 1,000 locations across 36 countries and over 380 cities. The Atlantic Station location will be open seven days a week, with grand opening plans to be announced soon. Atlantic Station has also welcomed other tenants recently to the property including Derek Automotive, an electric vehicle company. The landlord of Atlantic Station, Hines, also plans to add Rosé Bistro and Champagne Bar and Atlanta Breakfast Club later this year.

March 30, 2022

Development Georgia Life Sciences Multifamily Southeast Top Stories

Trammell Crow, High Street Residential Plan Life Sciences, Multifamily Project Near Georgia Tech in Atlanta

by Kristin Harlow March 30, 2022

ATLANTA — Trammell Crow Co. (TCC) and its residential subsidiary High Street Residential (HSR), along with Georgia Advanced Technology Ventures (GATV), have closed on ground leases and are ready to begin construction on the first phase of a life sciences and multifamily development adjacent to Atlanta’s Georgia Institute of Technology campus. Formerly known as Technology Enterprise Park, the site is now named Science Square. The first phase will include TCC’s Science Square Labs, a 364,740-square-foot speculative lab and office tower. The lab project is the only ground-up commercial lab space under construction in the Atlanta market, according to TCC. Phase I will also include HSR’s 280-unit multifamily building, the firm’s first residential development in Atlanta. The multifamily component will include shared parking and ground-floor retail space. Designed by Perkins + Will, Science Square Labs will rise 13 stories with 35,558-square-foot floor plates. The facility will also feature ground-floor retail space and amenities such as a fitness center, conference space, indoor-outdoor tenant lounge and outdoor amenity deck. TCC is seeking LEED and WELL certifications for the property and plans to incorporate View Dynamic Glass, which controls ultraviolet and visible light from entering the building without blinds. Additionally, the project will feature …

March 30, 2022

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