REBusinessOnline

Stan Johnson Co. Brokers $3.2M Sale of Windward Square Shopping Center in Metro Atlanta

ALPHARETTA, GA. — Stan Johnson Co. has brokered the sale of Windward Square, a 11,166-square-foot shopping center located at 5215 Windward Parkway in the northern Atlanta suburb of Alpharetta. Jeff Enck of Stan Johnson Co. represented the 1031 exchange buyers, a group of private investors based in Georgia. Penn Hodge Properties sold the property for more than $3.2 million.Windward Square was fully leased to six tenants at the time of sale, including Verizon Wireless and Eye Level Learning …

Cousins Acquires 725 Ponce Office Property in Midtown Atlanta for $300.2M

ATLANTA — Cousins Properties (NYSE: CUZ) has acquired 725 Ponce, a 372,000-square-foot office property in Midtown Atlanta, for $300.2 million. The seller, New City Properties, completed development of the 12-story asset in late 2019.Located on the Atlanta BeltLine and directly across from popular mixed-use development Ponce City Market, 725 Ponce is fully leased to tenants such as BlackRock, McKinsey & Co. and Chick-fil-A. The $140 million development includes an adjacent …

Haven Realty Capital Acquires Single-Family Rental Homes in Georgia, North Carolina for $80M

LOS ANGELES — Haven Realty Capital, a Los Angeles-based single-family rental investor, has acquired three communities in the Southeast to add to its institutional single-family rental and build-to-rent portfolio. The housing developments are currently under construction and are located in metro Atlanta and in Charlotte. The two separate transactions totaled $80 million, and the sellers were not disclosed.The first metro Atlanta community, Stapleton Park, is located at 150 John Wesley Way …

PulteGroup, Invitation Homes to Build 7,500 Single-Family Rental Projects in Next Five Years

ATLANTA AND DALLAS — Atlanta-based PulteGroup Inc. and Dallas-based Invitation Homes have formed a joint venture to build and lease new single-family rental homes. PulteGroup expects to design and build approximately 7,500 new homes over the next five years specifically for sale to Invitation Homes for inclusion in its single-family rental leasing portfolio.The companies have already agreed on the construction and sale of over 1,000 homes across seven communities over the next several …

SRS Brokers Sale of 178,930 SF Shopping Center in Athens, Georgia

ATHENS, GA. — SRS Real Estate Partners has brokered the sale of Athens West, a 178,930-square-foot shopping center in Athens. SomeraRoad, a New York-based commercial real estate investment and development firm, sold the property for $16 million to an entity doing business as Trinity Apex LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller, and the buyer was self-represented in the transaction.Athens West is anchored by Big Lots, America’s Thrift, American Freight, BioLife …

Marcus & Millichap Brokers $54.6M Sale of National Dollar General Store Portfolio

ATLANTA — Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta has brokered the $54.6 million sale of a portfolio of 35 Dollar General-leased stores across 12 states. Don McMinn of Taylor McMinn represented the seller, CMK Properties, a privately held real estate investor and syndicator based in Brentwood, Tenn., in the sales transaction. The buyer was Realty Income, a net lease REIT based in San Diego.All the Dollar General leases were triple net lease and had around 10 years …

Rockefeller Group Sells 222,618 SF Distribution Center in Braselton, Georgia

BRASELTON, GA. — Rockefeller Group has sold a 222,618-square-foot distribution center in Braselton to Cabot Properties for an undisclosed price. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the seller in the transaction.Since March 2021, the building, known as Braselton 85, has been fully leased to Duckyang America Inc., a Korean automotive equipment supplier that is using the property for warehousing and light manufacturing. The company manufactures and …

Former North American Properties Executive Mark Toro Launches Toro Development Co.

ATLANTA — Mark Toro, who formerly led North American Properties’ (NAP) Atlanta division, is launching Toro Development Co. This company will be aimed at acquiring outdated sites such as dead malls and transforming them into better mixed-use properties. The firm is not just focused on enclosed malls, but also suburban office parks, shopping centers and industrial sites.John Kelley, Richard Munger and Vicky Boyce are joining Toro’s development team as partners. The trio all played a …

Forrest Street Partners Purchases Manufactured Housing and RV Park in Covington, Georgia

COVINGTON, GA. — Forrest Street Partners has purchased Riverside Estates, a 307-site manufactured housing and RV park in Covington. The seller and sales price were not disclosed.Riverside Estates is the third RV park and first manufactured housing park that Forrest Street Partners has purchased in the Atlanta area. The park has 170 RV sites and 135 manufactured home sites, as well as a clubhouse, pool and playground.Forrest Street plans to renovate the property by adding asphalt to …

NAP, Hoar Complete $400M Redevelopment of Colony Square in Midtown Atlanta

ATLANTA — North American Properties (NAP) and Hoar Construction have completed the redevelopment of Colony Square, a mixed-use development located at the intersection of 14th and Peachtree streets in the Midtown neighborhood of Atlanta. The project comprised four phases and the total development cost was $400 million.Over the past four years, the developers have completed a 200,000-square-foot renovation of two existing buildings, the ground-up construction of a new building featuring a …

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