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DevelopmentGeorgiaMultifamilySoutheast

McShane Construction Completes 318-Unit Apartment Complex in Kennesaw, Georgia

by John Nelson

KENNESAW, GA — McShane Construction Co. has completed The Lacy at South Main, a 318-unit apartment complex located in downtown Kennesaw. The developer is Highpoint Development. Designed by Niles Bolton Associates, the four-story complex offers one-, two- and three-bedroom floor plans that range from 708 to 1,505 square feet in size, according to Apartments.com. Apartments are available for lease, with monthly rental rates beginning at $1,625. Amenities include a 24/7 fitness center, lounge, coffee bar, swimming pool, two courtyards, grilling stations, coworking spaces and a pet park. Additionally, the site offers controlled-access parking and electric vehicle charging stations. Situated on 19 acres, the complex is part of a larger mixed-use community that features 44 townhomes, a retail outparcel and a linear park space.

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AcquisitionsGeorgiaRetailSoutheast

Prudent Growth Purchases Retail Strip Center in McDonough, Georgia for $2.6M

by John Nelson

MCDONOUGH, GA. — Prudent Growth Partners LLC, a Chapel Hill, N.C.-based private equity firm, has purchased Lake Dow Pavilion, an 18,000-square-foot retail strip center in McDonough, a southern suburb of Atlanta. The undisclosed seller sold the property for approximately $2.6 million. Lake Dow Pavilion was fully leased at the time of sale and features a combination of local tenants and future upside from potential mark-to-market leasing opportunities. According to LoopNet Inc., the center was built in 2001 on a 2.4-acre site along Ga. Highway 81.

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DevelopmentFeaturesGeorgiaSoutheastStudent Housing

Student Housing Interior Designers, Developers Weigh In on What’s Hot and What’s Not

by John Nelson

As the student housing sector readies for a new generation of students to enter campuses — Generation Alpha — a few of the ‘tried and true’ amenity spaces that were hot with millennials or Gen Z have fallen by the wayside. Golf simulators, movie theaters and bohemian styling with baskets and lots of greenery are just a few of the once popular design choices that are now on the outs, according to Lucy Harrison, brand marketing manager with SouthPark Interiors.   Gone, too, are the days of designing one ‘Instagramable’ moment for your building and calling it a day, says Chelsea Kloss, executive vice president of design and curation with LV Collective. “Students want to live in a building that is beautiful and inspiring from all angles — not just with one space built for ‘the gram,’” she says. “They want not only to capture more organic content to share, but to experience it real-time. As designers, that challenges us to push the envelope on experiential design and the importance of finishing all aspects of a built environment.” Students’ desires for their fitness and wellness spaces have also seen a shift over the past few years, according to Kloss. “Designing …

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GeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Five New Tenants Join Atlantic Station Roster in Midtown Atlanta

by John Nelson

ATLANTA — Five new retailers and restaurants have joined the tenant roster at Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. Houston-based Hines, which has owned the retail portion of the property since 2015, recently signed donut and desserts eatery Yonutz; cookie concept Munster Cravings; candle-making experiential retailer Candleporium Fragrance House; and car wash and detailing shop Dirty Horse Paint Protection and Auto Detailing to the lineup. Additionally, Lucky Strike Entertainment has backfilled and rebranded Atlantic Station’s Bowlero bowling alley. Opened in 2005, Atlantic Station features 523,511 square feet of retail, entertainment and restaurant space; 2 million square feet of Class A office space, including offices for Microsoft; two full-service hotels; multiple apartments, lofts and luxury condo residences; and freestanding IKEA, Target and Dillard’s stores. 

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AcquisitionsGeorgiaSoutheastStudent Housing

JLL Negotiates Sale of 656-Bed Student Housing Community Near Kennesaw State University

by John Nelson

KENNESAW, GA. — JLL has negotiated the sale of Bixby Kennesaw, a 656-bed student housing community located near the Kennesaw State University campus in metro Atlanta. Completed in 2020, the property offers 179 units in a mix of studio through five-bedroom configurations. Shared amenities include a rooftop sky deck overlooking the university’s football stadium, resort-style swimming pool, fitness center and multiple study spaces. Teddy Leatherman, Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller, Alden Street Capital, in the disposition. The buyer and terms of the transaction were not released. 

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AcquisitionsGeorgiaRestaurantRetailSoutheast

Marcus & Millichap Brokers Sale of New Restaurant in Buford, Georgia Leased to Whataburger

by John Nelson

BUFORD, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant located at 4996 Lanier Parkway in Buford, a northeast suburb of Atlanta. Built in 2024, the 3,318-square-foot restaurant is ground-leased to Whataburger and sits on a nearly 1.5-acre site at the entrance of a 1.1 million-square-foot Amazon logistics center. The popular quick-service restaurant (QSR) chain has a 15-year ground lease in place at the restaurant with scheduled rent increases and extension options. Whataburger is based in Texas and only recently began opening restaurants in Georgia, the first of which opened in Kennesaw in 2022. Don McMinn of Taylor McMinn Retail Group represented the seller, an unnamed developer, in the 1031 transaction. The buyer and sales price were also not disclosed. “This is our third Whataburger closing in fourth-quarter 2024 and will be bring more to market in 2025,” says McMinn. “Whataburger continues to garner strong demand and attractive pricing from investors and is one of the more desirable QSR options in the market today.”

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DevelopmentGeorgiaMixed-UseSoutheast

Toro Development Breaks Ground on $560M Medley Mixed-Use Campus in Johns Creek, Georgia

by John Nelson

JOHNS CREEK, GA. — Toro Development has officially broken ground on Medley, a $560 million mixed-use development spanning 43 acres in Johns Creek, an affluent northern suburb of Atlanta. Toro plans to hold a grand opening for the development on Oct. 29, 2026. The project is situated at the corner of McGinnis Ferry Road and Johns Creek Parkway, which formerly housed offices for State Farm Insurance. Plans for Medley call for 150,000 square feet of retail, restaurant and entertainment space; a 175-room hotel; 110,000 square feet of offices; 750 apartments; 133 townhomes built by Empire Communities; and a 25,000-square-foot plaza. Toro obtained construction financing for the project in November and announced a new round of retail leasing at the development in December. Medley represents an important component of the city of Johns Creek’s 192-acre town center vision, according to Toro.

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Company NewsData CentersGeorgiaIndustrialSoutheast

Amazon Web Services to Invest $11B in Georgia

by John Nelson

SEATTLE — Amazon Web Services (AWS), the cloud computing platform of the Seattle-based e-commerce giant, has announced plans to invest $11 billion in the state of Georgia. This comes a couple weeks after AWS announced a similar $10 billion investment in Ohio. The move will expand the infrastructural capabilities of AWS in Georgia and support the company’s cloud computing and generative AI technologies. Details of the planned investment in Georgia, including construction timelines for any new data centers, were not disclosed, though AWS says the investments would be concentrated in Douglas and Butts counties. AWS expects to create at least 550 new high-skilled jobs with this investment, including for technical roles such as data center engineers, network specialists, engineering operations managers and security specialists, as well as indirect jobs such as construction and those in the data center supply chain. Since 2010, Amazon has invested $18.5 billion in Georgia and contributed $20.1 billion to the state’s gross domestic product. The parent company supports 34,000 full- and part-time jobs in the Peach State, including at Amazon MGM Studios where the film studio regularly shoots movies and TV shows.

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AcquisitionsDevelopmentGeorgiaIndustrialSoutheast

Avison Young Arranges Sale of 66.8 Acres Near New Northeast Georgia Inland Port

by John Nelson

FLOWERY BRANCH, GA. — Avison Young has arranged the sale of 66.8 acres across four land parcels in Flowery Branch, a city near the upcoming Northeast Georgia Inland Port. The buyer, Alliance Industrial Co., plans to develop two speculative facilities on the newly acquired land, which is situated directly off I-985. The properties, collectively known as Alliance 985 Business Park, will include Building 100 (113,536 square feet) and Building 200 (426,872 square feet). Alliance plans to break ground on the project this quarter and deliver in early 2026. Chris Hoag, Jason Holland and Andrew Joyner of Avison Young represented the buyer in the transaction. Stephen Lovett and Zach Tibbs of Norton Commercial brokered the sale of one of the parcels. Alliance has tapped the Avison Young team to lease Alliance 985 Business Park moving forward.

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GeorgiaLoansMixed-UseMultifamilySoutheast

CBRE Arranges Refinancing Loan for 370-Unit Luxury Multifamily Complex in Midtown Atlanta

by John Nelson

ATLANTA — CBRE has arranged a fixed-rate loan for the refinancing of Sora at Spring Quarter, a newly built, 370-unit luxury multifamily complex in Midtown Atlanta. Mike Ryan, Blake Cohen and Taylor Crowder of CBRE arranged the financing on behalf of the borrowers, Portman Residential and National Real Estate Advisors. Apollo provided the five-year loan, the amount of which was not disclosed. The NGBS Silver-certified property was completed in January 2024 and is part of Portman’s Spring Quarter mixed-use campus, which includes the recently completed Ten Twenty Spring office tower and the historic H.M. Patterson Home and Gardens funeral home. Located at 1000 Spring St., the 29-story multifamily tower features various floor plans ranging from 659 to 1,680 square feet, including studios, one-, two- and three-bedroom units, two-story townhomes and two- and three-bedroom penthouse units. According to Apartments.com, monthly rental rates begin at $2,195.  Unit amenities comprise condo-style finishes with plank flooring, 10- to-12-foot ceilings, quartz countertops, gas range cooktops, stainless steel appliances and porcelain tile bathrooms. Residents have access to a 10th-floor pool and terrace, 24-hour gym with fitness studios, infrared sauna, rock-climbing wall, sports simulator, gaming lounge, 29th-floor rooftop lounge and observation deck and nearly 13,000 square feet …

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