REBusinessOnline

Elevator City Partners Unveils Plans for $400M West End Mall Redevelopment in Atlanta

ATLANTA — Elevator City Partners (ECP) has unveiled plans for its $400 million West End Mall redevelopment project in Atlanta’s historic West End neighborhood. The announcement follows months of public and private strategic meetings with community leaders and stakeholders, including nearby historic black colleges Spelman, Morehouse, Clark Atlanta University and Morehouse School of Medicine. The redevelopment of West End Mall will feature retail, restaurants, offices and housing delivered in …

MAB American to Break Ground on $80M Monroe Pavilion Shopping Center in Metro Atlanta

MONROE, GA. — MAB American Management plans to break ground in the first quarter on Monroe Pavilion, an $80 million shopping center situated on a 100-acre site in Monroe, an Atlanta suburb in Walton County. The property’s leasing agent, Retail Specialists, has signed several retailers to join the tenant roster of the 350,000-square-foot project, including Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Beau Young of Retail Specialists is also targeting …

Cushman & Wakefield Brokers $169M Multifamily Portfolio Sale in Georgia, South Carolina

ATLANTA — Cushman & Wakefield’s Multifamily Advisory Group has brokered the $169 million sale of an eight-property multifamily portfolio totaling 1,544 units in Georgia and South Carolina. The portfolio comprises two properties in each Macon, Augusta and Warner Robbins, Ga.; and two properties in Aiken, S.C. The average age of the portfolio is 30 years old and was 94 percent occupied at the time of sale. Capital Square 1031, a national real estate firm specializing in tax-advantaged …

KeyBank Provides $64M Acquisition Loan for Apartment Complex in Metro Atlanta

MARIETTA, GA. — KeyBank Real Estate Capital (KBREC) has provided a $64 million acquisition loan for The Park on Windy Hill, a 654-unit apartment complex in Marietta. The property was built in 1970 and has recently undergone renovations to approximately half of the unit interiors. The buyer, Bridge Investment Group, plans to complete the upgrades and extensively renovate the exteriors. The garden-style apartment complex comprises 26 three-story buildings on 42 acres at 2121 Windy Hill Road, 15 …

FCP, Westbridge Sell Stockyards Atlanta to Clarion Partners for $69.7M

ATLANTA — A joint venture between Chevy Chase, Md.-based FCP and Atlanta-based developer Westbridge Partners has sold Stockyards Atlanta, a mixed-use project in Atlanta’s West Midtown district, to New York-based Clarion Partners for $69.7 million. Situated on three acres at the corner of 10th Street and Brady Avenue, Stockyards is an adaptive reuse of three historic warehouses into office and entertainment space. The space was initially built in the early 1900s as a stockyard and …

Halpern Enterprises Acquires Hobby Lobby-Anchored Shopping Center in Metro Atlanta for $11.6M

NEWNAN, GA. — Halpern Enterprises Inc. has acquired Newnan Crossing, a 92,412-square-foot shopping center in Newnan, about 35 miles southwest of downtown Atlanta. Ohio-based Retail Value Inc. sold the property to Smyrna, Ga.-based Halpern Enterprises for $11.6 million. A 66,412-square-foot Hobby Lobby anchors the center, which was fully leased at the time of sale. Other tenants include CATO, GNC, Edible Arrangements, Sally Beauty, American Deli, The Athlete’s Foot and T-Mobile. Walmart and …

Allied Esports, Simon Announce 13,000 SF Esports Venue Coming to Mall of Georgia

BUFORD, GA. — Allied Esports, a global esports entertainment company, and Simon Property Group Inc., a REIT and shopping mall operator, have announced that Mall of Georgia in Buford will be the location for the companies’ first dedicated esports venue. The two-level, 13,000-square-foot facility will be a gaming and esports destination. The venue will feature regular amateur and professional esports tournaments and events spanning a variety of games and genres. The location, which will have …

Walmart Opens $90M Meat Processing Plant in South Georgia

THOMASVILLE, GA. — Walmart has opened a 201,000-square-foot meat processing facility at 121 Roseway Drive in Thomasville, 15 miles north of the Georgia-Florida border. The Thomasville Times-Enterprise reported the facility cost $90 million to develop. The plant will house more than 200 employees who will distribute a selection of Angus beef cuts, such as steaks and roasts, from the new supply chain to 500 Walmart stores in the Southeast. Construction of the property began in August 2018. In …

ACRES Capital Originates $32M Construction Loan for Athens Multifamily Development

ATHENS, GA. — ACRES Capital Corp. has originated a nearly $32 million construction loan to fund the expansion of The Cottages at Ridge Pointe, a 216-unit apartment community located at 940 Creek Ridge Lane in Athens. The developer, Jim Chapman Communities, will take on the loan, which carries an 18-month term. The Cottages at Ridge Pointe, located approximately eight miles from downtown Athens, is an existing community with all 38 currently available units occupied. An additional 79 units …

Egbert Perry and Affordable Housing: How One Man’s Vision Launched a National Movement

When picturing the rebirth of downtown Atlanta, one of the first images to come to mind is the skyline — the iconic high-rises. Another, often overlooked, part of this picture includes Atlanta’s skywalks. In the early days of redevelopment, these walkways connected luxury buildings above urban neighborhoods that many had abandoned, and effectively furthered the separation of the “haves” from the “have-nots.” Iconic Atlanta developer Egbert Perry was driven to challenge …

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