Georgia

CBRE Arranges $42.7M Construction Loan for Jax Apartment Development in Monroe, Georgia

by John Nelson February 24, 2025

MONROE, GA. — CBRE has arranged a $42.7 million construction loan for The Jax, a 282-unit, garden-style apartment development located at 200 Aycock Ave. in Monroe, about 40 miles east of downtown Atlanta. Blake Cohen and Charlie Clark of CBRE’s Debt & Structured Finance team in Atlanta arranged the financing on behalf of the borrower, a joint venture between Green River Builders and ARC Multifamily Group. Atlanta-based Peachtree Group provided the 2.5-year, interest-only loan at approximately 74 percent loan-to-cost. The Jax will comprise seven three-story residential buildings housing one-, two- and three-bedroom apartments averaging 1,117 square feet in size. Amenities will include a business center, clubhouse, pool, fitness center, volleyball court, picnic area, EV charging stations and a breakfast/coffee concierge. The construction timeline was not released.

February 24, 2025

Acquisitions Georgia Southeast Student Housing

Cushman & Wakefield Negotiates Sale of Cottage-Style Student Housing Community in Milledgeville, Georgia

by John Nelson February 24, 2025

MILLEDGEVILLE, GA. — Cushman & Wakefield has negotiated the sale of Arcadia on the River, a cottage-style student housing community located near the Georgia College campus in Milledgeville. Built in 2017 at 120 Pumping Station Road, the property offers 510 beds across 123 units. Shared amenities include a pool, tanning ledge, fitness center, yoga studio, sauna, volleyball court, shuttle service to campus, outdoor games and billiards, foosball and table tennis. Travis Prince, Victoria Marks, Shawn Lubic, Taylor Bird and Nelson Abels of Cushman & Wakefield represented the seller, Sanctuary Cos., in the disposition of the property to Time Equities Inc. Terms of the transaction were not released.

February 24, 2025

Acquisitions Georgia Retail Southeast

Matthews Brokers $7.6M Sale of Retail Strip Center in Jefferson, Georgia

by John Nelson February 24, 2025

JEFFERSON, GA. — Matthews Real Estate Investment Services has brokered the $7.6 million sale of Ole Mill Village, a 27,943-square-foot retail strip center located at 914-948 Lee St. in Jefferson, about 60 miles northeast of Atlanta. Built in 2014 and expanded in 2023, the unanchored retail property was fully leased at the time of sale. Jeff Enck of Matthews represented the seller, a privately held partnership based in Georgia, in the transaction. The buyer was also an investment group based in Georgia. Both parties requested anonymity.

February 24, 2025

Georgia Loans Multifamily Southeast

AEW Provides $75M Loan to Refinance High-Rise Multifamily Complex in Midtown Atlanta

by John Nelson February 21, 2025

ATLANTA — AEW Capital Management has provided a $75 million loan to refinance the construction loan for The Hadley, a 300-unit, high-rise multifamily complex located in Midtown Atlanta. The borrower was not disclosed, but a joint venture between StreetLights Residential and PGIM Real Estate completed the project in 2023. Situated at 770 Juniper St. NE, The Hadley features studios, one-, two- and three bedrooms ranging from 534 square feet to 1,716 square feet, according to Apartments.com. Amenities at the property include a fitness center, private resident bar, onsite coffee lounge and coworking space, dog park and spa, gated parking garage and a rooftop swimming pool with cabanas. The property was nearly fully occupied at the time of financing.

February 21, 2025

Georgia Leasing Activity Life Sciences Office Southeast

Duracell Selects Science Square in Midtown Atlanta for New R&D Headquarters

by John Nelson February 19, 2025

ATLANTA — Battery manufacturer Duracell has selected Science Square in Midtown Atlanta for its new global headquarters for research-and-development (R&D). Trammell Crow Co. and Georgia Institute of Technology (Georgia Tech) jointly own the 18-acre Science Square development, which sits adjacent to Georgia Tech’s campus. Duracell plans to invest approximately $56 million into its new space at 101 Nerem St. NW and create 110 jobs. Civic and utility partners that helped Duracell in its site selection include the Georgia Department of Economic Development’s Global Commerce team, Invest Atlanta, Select Fulton, Metro Atlanta Chamber, Georgia Power and the University System of Georgia. Duracell has had a footprint in Georgia for years. The company currently has a manufacturing facility in LaGrange that has been in operation since 1980 and a logistics and distribution plant in Fairburn that began operations in 2020.

February 19, 2025

Development Georgia Multifamily Southeast Top Stories

Middle Street, AECOM-Canyon Nearing Completion on Two-Tower Midtown Atlanta Multifamily Project

by Channing Hamilton February 14, 2025

ATLANTA — A joint venture between developers Middle Street Partners and AECOM-Canyon Partners is underway on The Juniper and The Reserve at Juniper, a two-tower multifamily project totaling 487 apartment units. The development is located at 1081 Juniper St., a block from Piedmont Park in Midtown Atlanta. The Juniper will feature 320 units across 37 stories. The top floor will be dedicated to amenity space, including coworking suites, a fitness center and a hot yoga studio. Adjacent to The Juniper, The Reserve at Juniper will comprise 167 apartments across 34 stories. The building will offer amenities such as infrared and salt saunas, a cold plunge and rooftop pool. Each tower will also feature an undisclosed amount of ground-floor retail space. The development team broke ground on the project in mid-2022, and the towers were topped out in July 2024. Leasing is slated to begin in the spring. “We believe Midtown Atlanta, specifically the area adjacent to Piedmont Park, is the most dynamic submarket in the Southeast,” says Ed Alexander, development partner for Middle Street. “We set out to create a residential destination befitting the neighborhood and an addition to the skyline that will stand the test of time.” The joint venture secured …

February 14, 2025

Acquisitions Georgia Retail Southeast

Ziff Real Estate Partners Sells 63,607 SF Shopping Center in Columbus, Georgia

by John Nelson February 13, 2025

COLUMBUS, GA. — Ziff Real Estate Partners has sold St. Francis Marketplace, a 63,607-square-foot shopping center located at 4519 Woodruff Road in Columbus. The retail property’s tenant roster includes Planet Fitness, Rent-A-Center, Kool Smiles, Franklin Dental & Braces and Jersey Mike’s Subs, among others. The Mt. Pleasant, S.C.-based investor originally acquired the center in 2015 and completed various upgrades at the property over the past 10 years. Steve Collins and Brent Hadden of The Palomar Group represented Ziff in the transaction. The sales price and buyer were not released.

February 13, 2025

Acquisitions Georgia Industrial Southeast

JLL Arranges Sale of 491,329 SF Industrial Facility in Savannah

by John Nelson February 12, 2025

SAVANNAH, GA. — JLL has arranged the sale of 50 Innovation Drive, a 491,329-square-foot industrial facility in Savannah. LBA Logistics purchased the property, which sold vacant, for an undisclosed price. Britton Burdette, Dennis Mitchell, Jim Freeman, Bob Currie and Tim McCarthy of JLL represented the undisclosed seller in the transaction. Situated approximately six miles from the Port of Savannah’s Garden City Terminal, the industrial facility features 32-foot clear heights, 200-foot truck courts, 106 dock-high doors and 149 trailer parking spaces.

February 12, 2025

Georgia Leasing Activity Retail Southeast

Halpern Signs Ulta Beauty to Retail Lease at 128,730 SF Shopping Center in Calhoun, Georgia

by John Nelson February 12, 2025

CALHOUN, GA. — Halpern Enterprises has signed Ulta Beauty to an 8,514-square-foot lease at Indian Hills, a 128,730-square-foot shopping center located at 429 Highway 53 E in Calhoun, about 65 miles northwest of Atlanta. Shelley Jordan Bell of Atlantic Realty represented Ulta Beauty in the lease transaction. Dan Gagne of Halpern represented the landlord internally. The Atlanta-based landlord also recently executed a 23,000-square-foot lease with Marshalls to anchor the center. Situated within a half-mile of I-75, Indian Hills was 98 percent leased to tenants including Tractor Supply Co., Ross Dress for Less, Five Below, Mattress Firm, Hibbett Sports, GNC, PT Solutions, Cato and The UPS Store. The shopping center also features separately owned parcels occupied by Taco Bell, Chick-fil-A and Captain D’s.

February 12, 2025

Development Georgia Mixed-Use Multifamily Southeast

High Street Residential Breaks Ground on 350-Unit Apartment Community in Brookhaven, Georgia

by John Nelson February 11, 2025

BROOKHAVEN, GA. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on Residences at Perimeter Summit, a 350-unit apartment community located at 1251 Perimeter Summit Parkway in Brookhaven. Situated approximately nine miles from Midtown Atlanta, the seven-story apartment community will serve as a pillar of Perimeter Summit, a 1.7 million-square-foot mixed-use campus that also includes offices, shops, restaurants, a 182-room hotel and condominiums. Spear Street Capital is heading the office development at Perimeter Summit and recently partnered with STHRN Hospitality to add two new restaurants set to open this year: The Little Gem and Pizza Stop. Residences at Perimeter Summit will include a mix of studio, one-, two- and three-bedroom apartments with an average unit size of more than 900 square feet. Community amenities will include a resort-style pool, three courtyards, 1,200-square-foot speakeasy lounge, fitness center, clubroom, coworking center, private conference and study rooms, tasting room, pet spa, golf simulator, wellness sauna and access to walking trails and two MARTA stations. The design-build team includes architect Cooper Carry and general contractor New South Construction. The construction timeline was not disclosed.

February 11, 2025

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