REBusinessOnline

Georgia

Continental Realty Acquires Apartment Community in Atlanta’s West Midtown District for $80M

ATLANTA — Continental Realty Corp. (CRC) has acquired Millworks, a 345-unit apartment community located at 1888 Emery St. in Atlanta’s West Midtown district, for $80 million. The Baltimore-based company acquired the asset on behalf of Continental Realty Fund IV LP, a $164 million fund focused on the acquisition of retail and multifamily properties throughout the Mid-Atlantic and Southeast. Derrick Bloom, David Gutting and Brandon Beaty of JLL arranged the transaction on behalf of the seller..

November 22, 2017

Studio Movie Grill Opens 11-Screen Theater in Metro Atlanta

MARIETTA, GA. — Studio Movie Grill, a privately owned dine-in theater concept based in Dallas, has opened its newest theater at 40 Powers Ferry Road in Marietta, a northern suburb of Atlanta in Cobb County. The 11-screen SMG Marietta is backfilling a former Sports Authority store in a shopping center that was once anchored by Harry’s Farmers Market, a subsidiary of Whole Foods Market. SMG Marietta is Studio Movie Grill’s third location in Georgia and its 29th nationwide. The property..

November 22, 2017

Palomar Group Brokers $24.7M Sale of Shopping Center in Augusta, Georgia

AUGUSTA, GA. — The Palomar Group has brokered the $24.7 million sale of National Hills, a 159,855-square-foot shopping center in Augusta, located across from the Augusta National Golf Club. The Fresh Market anchors the center, which was 94 percent occupied at the time of sale by tenants including Electrolux, Sprint, Sally Beauty Supply, Legend’s Club and Merle Norman. The Palomar Group arranged the transaction on behalf of the seller, a regional investor, and the buyer, an international..

November 21, 2017

Coworking Provider Industrious Signs 28,000 SF Lease in Atlanta’s Central Perimeter

SANDY SPRINGS, GA. — CBRE Global Investors has signed a 28,000-square-foot lease with Industrious, a coworking office space provider, at 7000 Central Park, an 18-story office tower in Atlanta’s Central Perimeter submarket. The 12-year lease marks Industrious’ fifth location in Atlanta and the company’s first foray into the market’s suburbs. The building is located in Sandy Springs, roughly 15 miles north of downtown Atlanta. Industrious will occupy the entire 11th floor of the..

November 21, 2017

Atlanta’s Disciplined Retail Market Ready to Face Headwinds from REITs, Amazon

A decade ago, the Atlanta retail market was a house of cards. It was clear to see this if you were in the industry at the time, and possibly even if you weren’t. Based on the intense overbuilding that had taken place, it wouldn’t have taken a worldwide economic meltdown to wreck it, though that didn’t help. Literally hundreds of unanchored retail centers had cropped up all over suburbia, fitting directly into everything that people consider to be negative about shopping centers. The..

November 20, 2017

Speak Life Management Breaks Ground on $73.7M Active Adult Community in Metro Atlanta

DECATUR, GA. — Speak Life Management has broken ground on The Holbrook Decatur, a $73.7 million active adult community in Decatur, roughly 10 miles northwest of downtown Atlanta. Slated to open in spring 2019 at 1880 Clairmont Road, the community is situated less than one mile from Emory University. Designed for the 50-plus, active lifestyle market, The Holbrook will feature 71 apartments and offer health- and wellness-focused amenities, including a saltwater pool, positive ion emission and..

November 17, 2017

Legacy Ventures Completes $16M Renovation of Historic Hotel in Downtown Atlanta

ATLANTA — Legacy Ventures has completed the $16 million renovation of The American Hotel, a 315-room hotel operating as a DoubleTree Hilton in downtown Atlanta. Originally constructed in 1962, the hotel has hosted public figures including Elvis Presley, Carol Channing, Jimmy Carter, James Brown, Nelson Rockefeller and Dr. Martin Luther King Jr. The renovation embraces mid-century modern furnishings and design and includes 60s car-themed headboards and an Airstream trailer serving as the..

November 16, 2017

Nobu Hotel, Restaurant to Headline Phipps Plaza Expansion in Atlanta’s Buckhead District

ATLANTA — Simon has unveiled plans to transform Phipps Plaza, an upscale shopping mall in Atlanta’s Buckhead district, into a mixed-use destination. The additional uses coming to Phipps Plaza include a 150-room Nobu Hotel, 10,000-square-foot Nobu Atlanta Restaurant, 90,000-square-foot Life Time Athletic fitness center and a 12-story office building. The hotel will feature a rooftop pool, conference space and spa facilities, and the restaurant will offer Japanese-style cuisine. Life Time..

November 15, 2017

Brickmont, Sage Equities Break Ground on 137-Bed Seniors Housing Community in Metro Atlanta

ACWORTH, GA. — Brickmont Assisted Living, in partnership with Sage Equities, has broken ground on Brickmont of Acworth, a 137-bed seniors housing community in Acworth, roughly 32 miles northwest of Atlanta. Patterson Real Estate Advisory Group arranged construction financing through Credit Union Business Services for the project. Upon completion, Brickmont of Acworth will include 85 assisted living and 35 memory care units, with an average size of 447 square feet. Units will include..

November 14, 2017

Eye Care Manufacturer Alcon to Invest $97M in Metro Atlanta Expansion

JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth..

November 10, 2017