Georgia

Branch Signs Two New Retailers to Join Peachtree Battle Shopping Center in Atlanta’s Buckhead District

by Julia Sanders January 28, 2022

ATLANTA — Locally based Branch Properties has signed leases for two new tenants to join Peachtree Battle Shopping Center, a 168,000-square-foot, grocery-anchored center in the Buckhead neighborhood of Atlanta. Located off Peachtree Road, Peachtree Battle Shopping Center features over 50 tenants, including a 32,836-square-foot Publix, Walgreens, Ace Hardware and Baskin-Robbins. The new tenants include Roshambo and Cava. Roshambo, a new concept from local restaurant group Unsukay, will open at the center in a 4,000-square-foot space. The restaurant is set to open this summer. Cava, a Mediterranean fast-casual restaurant chain, will occupy a 2,300-square-foot space at the center. The Mediterranean restaurant is expected to open this month.

January 28, 2022

Acquisitions Georgia Industrial Southeast

Dalfen Purchases 112,000 SF Industrial Park in Metro Atlanta

by Julia Sanders January 27, 2022

CANTON, GA. — Dalfen Industrial has purchased a two-building industrial park in Canton, about 41.5 miles from downtown Atlanta. The sales price and seller were not disclosed. The industrial property totals 112,000 square feet. Located at 505/515 Brown Industrial Blvd., the property is situated close to Interstate 575 and Georgia Highways 20 and 400. The area is home to tenants such as Amazon, Penske, Thyssen Krupp and Papa Johns. With the acquisition, Dalfen Industrial’s Atlanta portfolio reaches over 2.7 million square feet.

January 27, 2022

Georgia Midwest Missouri Mixed-Use Retail Southeast Top Stories

Two Class B Mall Redevelopment Projects Near Atlanta, St. Louis Unveiled

by Katie Sloan January 27, 2022

NORTH DECATUR, GA. AND CRESTWOOD, MO. — Real estate developer EDENS and the City of Crestwood have separately announced two massive mall redevelopment projects in the Atlanta and St. Louis metropolitan areas, respectively. The redevelopment of Class B malls into mixed-use, open-air centers has continued to grow in popularity as shopping center owners and operators look to compete with e-commerce through the delivery of thoughtful spaces that provide an experience for visitors. North Dekalb Mall EDENS purchased North Dekalb Mall last year with plans to redevelop the property into a mixed-use project. This week, a Development of Regional Impact (DRI) application was filed with the Georgia Department of Community Affairs detailing plans for the project. Located roughly seven miles outside in Atlanta in North Decatur, the development is set to include 300,000 square feet of office space, 200,000 square feet of hospitality, 150 multifamily units and 1,700 townhomes, in addition to retail and restaurant space. A timeline for the project and further information was not disclosed. The property’s previous owner, Sterling Organization, teamed up with developer Hendon Properties and Lennar Commercial Investors in 2014 with plans to turn the 622,297-square-foot enclosed mall into an open-air shopping center, which ultimately did …

January 27, 2022

Development Georgia Industrial Southeast

Dermody Completes 154,440 SF Spec Industrial Property in Metro Atlanta

by Julia Sanders January 26, 2022

DECATUR, GA. — Reno, Nev.-based Dermody Properties has completed LogistiCenterSM at Miller Road, a 154,440-square-foot distribution facility in Decatur. Located at 2800 Miller Road, LogistiCenterSM is situated 16.7 miles east of downtown Atlanta. The property features 32-foot clear heights, 150 car parking stalls, 23 trailer stalls, 35 dock-high doors, an ESFR fire protection system and build-to-suit office space. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements for companies. Matt Bentley of NAI Brannen Goddard is the leasing broker for the project. The building is immediately available for lease.

January 26, 2022

Acquisitions Georgia Retail Southeast

SRS Brokers $11.6M Sale of Shopping Center in Metro Atlanta

by Julia Sanders January 26, 2022

DOUGLASVILLE, GA. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Douglasville Marketplace, an 86,166-square-foot shopping center located in Douglasville. The seller, a family office out of Dallas, sold the property for $11.6 million to Continental Property Group LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented. Built in 2000 on 9.4 acres, Douglasville Marketplace was fully occupied at the time of sale to tenants including Kaiser Permanente, Ashley Homestore and Best Buy. The property is shadow-anchored by Lowe’s Home Improvement. Located at 775 Douglas Blvd., the property is situated 23.6 miles west from downtown Atlanta and 27.9 miles from the University of West Georgia. The property is also located close to Douglas County High School, Wellstar Douglas Hospital and the Douglas County Courthouse.

January 26, 2022

Georgia Leasing Activity Office Southeast

Airbnb to Open New Offices in West Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Airbnb, a San Francisco-based lodging company, plans to open a new technical hub in the West Midtown neighborhood of Atlanta. Dubbed Atlanta Tech Hub, the new office will be situated within Encore, a 50,000-square-foot space inside SJC Ventures’ Interlock mixed-use project at the corner of 14th Street and Howell Mill Road. Situated about three miles from Georgia State University and one mile from Georgia Tech, Airbnb’s office space is scheduled to open later this year. Encore is a creative loft and mixed-use office space that is dedicated to technology startup growth and expansion. Airbnb’s initial office will be 5,000 square feet with eventual plans to move to a bigger space later on. Georgia Advanced Technology Ventures, an affiliate of the Georgia Tech, is managing Airbnb’s new offices. In the beginning of 2021, Airbnb first announced it was opening a new hub in Atlanta but did not disclose what part of the city. The lodging company says it hopes to add new high-skilled technical and non-technical jobs at the tech hub. According to research by Oxford Economics, in 2019, Airbnb guest spending in Atlanta supported 3,400 jobs, including 1,200 jobs in the restaurant business. The company also says it …

January 24, 2022

Affordable Housing Development Georgia Multifamily Southeast

GBX, Urban Landings to Rehabilitate Affordable Housing Property in Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Cleveland, Ohio-based GBX Group LLC, in partnership with developer Atlanta-based Urban Landings, will rehabilitate Winnwood Apartments, a historical multifamily property in Midtown Atlanta that will be renovated into affordable housing. Construction on the project is expected to be complete by the fourth quarter. Winnwood is a 90-year-old, two-story property. When renovations are complete, the property will feature about 50 micro and one-bedroom units. Community amenities will include covered parking and a dog park. Located at 1460 W Peachtree St. NW, the property is situated within two miles from Georgia Tech, less than a mile from Atlantic Station, 1.5 miles from Tech Square and 4.4 miles from Georgia State University. Urban Landings helped secure Winnwood’s spot on the National Register of Historic Places in 2021, enabling access to historic tax credits. Simultaneously, the ownership group donated a facade easement to Easements Atlanta, a nonprofit organization whose mission is to accept qualified historic preservation easement donations of certified historic properties in Atlanta. This donation allows permanent protection for Winnwood’s exterior design and makes the project eligible for additional tax incentives.

January 24, 2022

Georgia Market Reports Restaurant Retail Southeast Southeast Market Reports

Atlanta’s Resilient Restaurant Sector is on the Rebound Post-Pandemic

by John Nelson January 24, 2022

When I recently looked into a prime site in Atlanta’s bustling West Midtown district on behalf of one of my restaurant clients, I quickly realized that several restaurants were eyeing the space. There were six other restaurant groups interested in leasing the space, creating a bidding war at rental rates far higher than my client wanted to pay. Heated competition for available restaurant spaces is by no means unusual in the Atlanta market these days, particularly for intown Atlanta, or the portion of the city located within the Interstate 285 loop and containing some of the city’s most urban, in-demand neighborhoods including Old Fourth Ward, EAV (East Atlanta Village) and Poncey-Highland. It’s been a rollercoaster stretch for the retail and restaurant sectors since the onset of the COVID-19 pandemic. Large decreases in sales at the outset were followed by a substantial recovery by early 2021, only to be followed by a setback in some markets over the summer caused by the more contagious Delta variant. Despite the challenging conditions, Davis said his clients have been forging ahead with their expansion plans. These clients have benefitted from their history of strong sales and the ability to adjust their service models (such …

January 24, 2022

Acquisitions Georgia Loans Multifamily Southeast

Eastern Union Secures $71.3M Acquisition Loan for Multifamily Property in Roswell, Georgia

by Julia Sanders January 17, 2022

ROSWELL, GA. — New York-based Eastern Union has secured a $71.3 million acquisition loan for Crest at Riverside, a 396-unit multifamily property in Roswell. Michael Muller of Eastern Union arranged the loan through New York-based Arbor Realty on behalf of the buyer, Atlanta-based MSC Properties. With a full sale price of $87.5 million, the transaction’s loan-to-cost ratio equaled 81 percent. The non-recourse loan carries a three-year term with options for two one-year extensions, and repayment is interest-only over its full term. Built in 1965 and renovated in 2016, The Crest at Riverside was rebranded to Grace Apartment Homes Roswell. The property offers one-, two- and three-bedroom floorplans with 18 one-bedroom units that are 882 square feet in size; 247 two-bedroom units that range from 1,258 to 1,408 square feet in size and 131 three-bedroom units that range from 1,290 to 1,408 square feet in size. Unit features include white or stainless steel appliances, laminate or solid surface counters, wood cabinets and tile backsplashes. Community amenities include two pools, business center, fitness center, playground, grills and a pet park. The property was 96 percent occupied at the time of sale. Located at 100 Chattahoochee Circle, the 518,460-square-foot property is situated 20.4 …

January 17, 2022

Development Georgia Loans Mixed-Use Southeast

Newport RE Receives $75M Financing for Mixed-Use Campus in Downtown Atlanta

by Julia Sanders January 14, 2022

ATLANTA — Newport RE has received $75 million in debt financing in order to redevelop 222 Mitchell, a 330,000-square-foot mixed-use campus in downtown Atlanta. JLL Capital Markets arranged the financing through Miami-based BridgeInvest on behalf of Newport. General contractor Balfour Beatty has started construction for 222 Mitchell, which is slated for completion in the first quarter of 2023. 222 Mitchell, which will include office and retail space, is a redevelopment of a brick building built in 1909, as well as two mid-century modern buildings spanning a full city block. The property will include a new park and a 27,000-square-foot rooftop. Newport plans to keep the historical elements of the property while redeveloping the buildings to make it more modern. Some planned tenants for the development include Pins Mechanical, an Ohio-based arcade and game bar, as well as an Atlanta-based Slater Hospitality that will be designed as a modern diner with a cocktail lounge.Some planned tenants for the development include Pins Mechanical, an Ohio-based arcade and game bar, as well as an Atlanta-based Slater Hospitality that will be designed as a modern diner with a cocktail lounge. Brooke Dewey and David Horne of JLL are leading the preleasing of the 250,000-square-foot …

January 14, 2022

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