Georgia

5070_Phillip_Lee_Drive

ATLANTA — Sagard Real Estate has acquired 5070 Phillip Lee Drive SW, a 400,800-square-foot industrial property located in Atlanta. The seller was SkyREM, according to multiple media sources. The purchase price was not disclosed. The four-building industrial property is fully leased to Kittrich, which manufactures and distributes rug underlays, non-slip products, bath mats and related home goods. The tenant has occupied the property for more than 20 years. Situated on the city’s westside between I-20 and I-285, the property features 48 dock-high doors, two ramped drive-in doors, deep truck courts and multiple points of ingress and egress.

FacebookTwitterLinkedinEmail
park-bench-opening

ATLANTA — Live music and dueling piano bar Park Bench has signed a lease to open a new venue at Centennial Yards, a $5 billion mixed-use development underway in downtown Atlanta and the operator’s second venue in the city. The new Park Bench will be situated within the 7.5-acre “Entertainment District,” which will also include a 5,300-seat Live Nation venue, the interactive Cosm attraction that opened this summer and the Virgin Hotel. Park Bench’s newest location will sit between and adjacent to Mercedes-Benz Stadium and State Farm Arena. CIM Group and its affiliate firm Centennial Yards Co. are the master developers behind the project, which is transforming a 50-acre site in the heart of downtown formerly known locally as “The Gulch.” Known for its dueling pianos, live cover bands, DJ sets and themed karaoke nights, Park Bench first established its presence in Buckhead, where it has served patrons for 27 years.

FacebookTwitterLinkedinEmail
Kimco-JV-Retail-Portfolio

CALIFORNIA — JLL has arranged $154.1 million in financing for a six-property, 1.3 million-square-foot retail portfolio spanning California, Arizona and Georgia. Chris Drew, John Marshall, Wells Waller, Jarrod Howard, Gabriel Davenport and Preston Bacon of JLL Capital Markets secured financing for the borrowers, Kimco Realty Corp. and an institutional joint venture partner, through institutional investors advised by J.P. Morgan Asset Management. The portfolio includes Morena Plaza in San Diego, Rancho San Diego in El Cajon, Calif., Vail Ranch Plaza and Redhawk Towne Center in Temecula, Calif.; North Decatur Station in Decatur, Ga.; and The Summit at Scottsdale in Scottsdale, Ariz. The portfolio is 99 percent occupied with a 4.6-year weighted average lease term and features grocery anchors, including Costco, Walmart, Whole Foods Market, Sprouts Farmers Market and Safeway. National tenants occupy approximately 76 percent of the portfolio’s gross leasable area, with 46 percent of the tenant roster comprising investment-grade credit.

FacebookTwitterLinkedinEmail
buford-business-center

BUFORD, GA. — A joint venture between Trammell Crow Co. and a consortium led by CBRE Japan has delivered Buford Creek Business Center, a three-building, 686,400-square-foot speculative industrial park located in Buford, a northeast suburb of Atlanta in Gwinnett County. Building 100 at Buford Creek Business Center is a 349,440-square-foot cross-dock warehouse with 40-foot clear heights and 64 trailer parking spaces. Buildings 200 and 300, which are both rear-load buildings, each total 168,400 square feet and include 36-foot clear heights with 40 and 24 trailer parking spots, respectively. Todd Barton, Mark Hawks, Joanna Blaesing and Matt Higgins of CBRE are leasing the project on behalf of ownership. The project team included architect Atlas Collaborative and general contractor The Conlan Co.

FacebookTwitterLinkedinEmail

COLUMBUS, GA. — Atlantic Capital Partners has brokered the $48.2 million sale of Cross Country Plaza, a 304,735-square-foot shopping center located in Columbus. Anchored by Publix since 2011, the property was 95 percent leased at the time of sale to tenants including T.J. Maxx, Burlington and 2nd & Charles. Fred Victor of Atlantic Capital represented the seller, Richmond-based Hackney Real Estate Partners, in the transaction. The buyer, Brasswater Inc., a real estate investment firm based in Montreal, has retained Kathy Ward and Shelley Jordan Bell of Atlantic Capital to lease Cross Country Plaza, according to a Facebook post made by the company.

FacebookTwitterLinkedinEmail

IRVINE, CALIF. — American Healthcare REIT Inc. (NYSE: AHR) has acquired eight senior housing communities in six states for $696 million. The properties, which collectively comprise 867 units and were built between 2020 and 2022, are located in Massachusetts, Connecticut, New Jersey, Pennsylvania, Delaware and Georgia. Newmark acted as AHR’s real estate advisor for the transaction.  While there were multiple sellers, all eight properties were marketed together. AHR purchased 10 communities all together but assigned the purchase and sale agreements of two properties to another institutional investor.  “This series of transactions is an example of disciplined capital allocation supported by strong execution,” says Jeff Hanson, chairman and CEO of AHR. “We understood that only a solution for all 10 communities would clear the market. Rather than either walking away from a highly strategic opportunity or compromising our capital allocation discipline to secure it, we constructed a solution that required neither.” The purchase gives the Irvine-based company a larger presence in the Northeastern seniors housing market. The Northeast properties in the portfolio are located primarily in wealthy suburban markets such as Philadelphia’s Main Line, Westport, Conn., and suburban Boston.  AHR is strengthening this newfound foothold via a new operating relationship with Massachusetts-based LCB …

FacebookTwitterLinkedinEmail

SANDY SPRINGS, GA. — Cushman & Wakefield has arranged a $72 million loan on behalf of locally based owner-operator Jamestown LP for the refinancing of two adjacent shopping centers in metro Atlanta. Totaling more than 340,000 square feet in Sandy Springs, the properties include Parkside Shops (158,400 square feet) and Hammond Exchange (176,000 square feet). A 49,506-square-foot Whole Foods Market anchors the centers, which share a footprint of about 25 acres. Additional tenants include Marshalls, HomeGoods, Petco and The Springs Cinema & Taphouse. John Alascio, Alex Hernandez, Alex Lapidus, Mitch Rothstein, Nick Scibelli and Mark Gilbert of Cushman & Wakefield secured the floating-rate loan through accounts managed by KKR on behalf of Jamestown.

FacebookTwitterLinkedinEmail

DOUGLASVILLE, GA. — Corvant, an HVAC and mechanical plumbing manufacturer, has signed a full-building lease at LogistiCenter at Bright Star, a 113,865-square-foot industrial facility in Douglasville, a western suburb of Atlanta. The landlord, Dermody, recently delivered the rear-load facility, which features 32-foot clear heights, a 60-foot speed bay, 28 dock-high doors, two drive-in doors, approximately 90 automobile parking spaces and ESFR fire protection. Mason Marsteller of Hughes Commercial Real Estate represented Dermody in the lease negotiations. Angie Henry of The Realty Group represented Corvant.

FacebookTwitterLinkedinEmail

CARNESVILLE, GA. — Walmart Inc. (NASDAQ: WMT) has unveiled plans to build a fulfillment center in Carnesville, a city located about 85 miles from Atlanta in northeast Georgia. The project, which is expected to create 1,000 new jobs, comes as part of a larger, $1.3 billion capital investment in Franklin County. The 1.5 million-square-foot automated facility will be located within Franklin 85 Logistics Center. Construction is expected to begin later this year. According to Walmart, the company’s next-generation fulfillment centers are located in strategic markets to expand same-day and next-day shipping capabilities across the country. “As customer expectations continue to evolve, investments like our new fulfillment center in Carnesville help us deliver the speed, convenience and reliability customers count on,” says Karisa Sprague, senior vice president of supply chain for Walmart U.S. The Georgia Department of Economic Development worked on the project in partnership with the Franklin County Industrial Building Authority, Georgia EMC and Georgia Quick Start. The Arkansas-based retail giant’s presence in Georgia includes 209 Walmart stores and Sam’s Clubs as well as 11 supply chain facilities employing more than 65,300 associates across the state. With fiscal year 2026 revenue of $713 billion, Walmart employs approximately 2.1 million associates …

FacebookTwitterLinkedinEmail

CHICAGO — JLL has arranged the sale of a 10.5 million-square-foot industrial portfolio in the Southeast. EQT Real Estate is selling the 46-building portfolio to an affiliate of California-based LBA Realty for an undisclosed price. John Huguenard, Trent Agnew, Will McCormack and Tara Hagerty of JLL represented the seller in the transaction. Additionally, Kevin MacKenzie, Peter Thompson, Steven Klein and Chris Pratt of JLL arranged an undisclosed amount of acquisition financing through two national banks for the buyer. The sold portfolio features properties in 10 separate markets, including Charlotte and Greensboro, N.C.; Greenville-Spartanburg, S.C.; Atlanta and Savannah, Ga.; Tampa, Orlando and Jacksonville, Fla.; and Birmingham and Huntsville, Ala. The logistics facilities in the portfolio average 230,000 square feet in size, according to JLL.

FacebookTwitterLinkedinEmail
Newer Posts