GAINESVILLE, GA. — Passco Cos. has purchased The Mill at New Holland, a 284-unit multifamily community in Gainesville, for $65 million. The property offers studio to three-bedroom floor plans that feature granite countertops, stainless steel appliances, tile backsplashes and nine-foot ceilings. Communal amenities include a 24-hour fitness center, pool, outdoor grilling area, club room and a dog park. The asset is situated at 1000 New Holland Way NE, 56 miles northeast of downtown Atlanta. The …
ATHENS, GA. AND BOCA RATON, FLA. — CA Student Living has acquired two student housing communities in Georgia and Florida for an undisclosed price. The acquisitions include Ikon at Athens, a 374-bed property located near the University of Georgia campus in Athens, and University Park, a 598-bed community located near Florida Atlantic University in Boca Raton. Ikon at Athens offers two-, three- and four-bedroom units with bed-to-bath parity. Communal amenities include a pool, outdoor spa, …
JONESBORO, GA. — Brennan Investment Group has acquired 25 acres in Jonesboro to develop Jonesboro Logistics Center, a three-building, 300,000-square-foot industrial campus in Jonesboro. Buildings One and Two will span 50,500 square feet, while Building Three will total 200,000 square feet. Each building is designed to accommodate two tenants. Buildings One and Two will be able to expand to house four tenants. Construction is scheduled to begin this quarter with completion targeted for the end …
ALPHARETTA, GA. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will also manage and lead the leasing effort for the property.North Point Mall spans 1.3 million square feet and is located near the intersection of Ga. Highway 400 and Encore Parkway, 25 miles north of downtown …
TORONTO — Slate Grocery REIT has entered into an agreement to acquire five grocery-anchored shopping centers in North Carolina, Florida and Georgia for $54.3 million. The five assets comprise 396,471 square feet and were 95 percent leased at the time of sale. The three North Carolina properties are Bells Fork, a 71,666-square-foot center in Greenville anchored by Harris Teeter; Tanglewood Commons, a 78,520-square-foot property in Winston-Salem anchored by Harris Teeter; and Westin Center, a …
By Claire Blevins and Collin Devaney, NAI Brannen Goddard We’ve all seen the depressing commercial real estate news stories about the state of the office market, with words like “bleak,” “hazy” or “obsolete” in the headlines. Questions surround every major market, including Atlanta — a metro market known for its dependable economy and robust demand. Admittedly, Atlanta has had its struggles during the pandemic, like slow leasing activity and rising rental rates, but not …
MARIETTA, GA. — A joint venture between Cyclone Investment and Skywood Properties has acquired 1035 Gateway Apartments, a 214-unit multifamily community in Marietta. The property offers one-, two- and three-bedroom floor plans averaging 1,000 square feet. Communal amenities include a pool, dog park, clubhouse and laundry facilities. The asset is located at 1035 Franklin Gateway SE, less than one mile from the Atlanta United soccer team training ground and 16 miles northwest of downtown …
LOCUST GROVE, GA. — Monmouth Real Estate Investment Corp. has purchased a 657,518-square-foot industrial building in Locust Grove for $96.7 million. The Home Depot occupies the facility and has 20 years remaining on its lease. The asset is situated at 3150 Ga. Highway 42, 35 miles southeast of Hartsfield-Jackson Atlanta International Airport and less than one mile from Interstate 75. Monmouth Real Estate notes that the property spans 130 acres and has an opportunity for future development. …
ATLANTA — Wells Fargo Bank has provided two construction loans totaling $290 million for Midtown Union, a mixed-use development that broke ground last December in Midtown Atlanta. A joint venture between MetLife Investment Management and Granite Properties is developing a 26-story, 612,000-square-foot office building at the project that will serve as the future headquarters of Invesco. Wells Fargo provided the joint venture with a $210 million loan for the office building, for which general …
ATLANTA — Nuveen Real Estate has provided a $114 million refinancing loan for Pennant Park, a six-building office park in northwest Atlanta’s Cumberland-Galleria submarket. The borrower, Rubenstein Partners LP, owns the 760,000-square-foot campus, which is situated near Truist Park, Battery Atlanta and the intersection of Interstates 75 and 285. Rubenstein acquired the property in 2016 and implemented $17 million in renovations to enhance the walkability of the park, as well as introduce an …
