Georgia

CBRE Secures 499,200 SF Industrial Lease for East Coast Warehouse in Savannah

by Julia Sanders May 12, 2021

SAVANNAH, GA. — CBRE has secured a 499,200-square-foot industrial lease with East Coast Warehouse at 521 Morgan Lakes Blvd. in Savannah. Bill Waxman, Chris Dempsey and Blaine Kelley of CBRE represented the tenant in the lease transaction. CBRE’s Bill Sparks represented the landlord, Principal Financial. There are currently no other tenants in the building. New Jersey-based East Coast Warehouse provides temperature-controlled logistics services to the food and beverage industry. East Coast Warehouse has also expanded in other port markets along the East Coast, such as the Ports of New York/New Jersey, Philadelphia and Baltimore. The industrial facility totals nearly 1 million square feet and features 36-foot clear heights, LED lighting and 220 dock doors. It is located close to Interstates 95 and 16 and the Port of Savannah.

May 12, 2021

Acquisitions Georgia Retail Southeast

SRS Brokers $11.4M Sale of Cherokee Commons Shopping Center in Suburban Atlanta

by Julia Sanders May 12, 2021

ACWORTH, GA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $11.4 million sale of Cherokee Commons Shopping Center, a 103,719-square-foot, Kroger-anchored retail property located 33 miles north of Atlanta in Acworth. Built in 1986, the center was 91 percent leased to tenants including Pet Supplies Plus and CosmoProf at the time of sale. Kyle Stonis and Pierce Mayson of SRS represented the seller, Collett Capital, in the disposition of the property to Bandera Ventures. The buyer was self-represented in the transaction.

May 12, 2021

Acquisitions Georgia Industrial North Carolina Southeast

Brennan, Arch Street Capital Sell 2.3M SF Industrial Portfolio in Southeast U.S., Massachusetts

by Julia Sanders May 7, 2021

CHICAGO AND NEW YORK CITY — Brennan Investment Group and Arch Street Capital Advisors have sold a four-building industrial portfolio with a combined square footage of 2.3 million square feet. The properties in the portfolio are located in Bellingham, Mass.; Lawrenceville, Ga.; Butner, N.C.; and Frederick, Md. The buyers, two unnamed, privately held institutional real estate investment firms, purchased the properties for an undisclosed price. BlueLinx Corp., a distributor of building and industrial products in the United States, is the sole occupant of all four facilities. The company operates through a broad network of distribution centers and is based in Atlanta. Brennan Investment and Arch Street originally acquired the portfolio in a joint venture in 2018. The firms stated they are seeking net-leased properties in their joint investment vehicle USIPA III. Brennan Investment is a Chicago-based, private real estate investment firm that acquires, develops and operates industrial properties. Arch Street Capital Advisors is a full-service real estate investment and advisory firm based in New York City.

May 7, 2021

Acquisitions Georgia Retail Southeast

JLL Brokers $20M Sale of Kroger-Anchored Shopping Center in Metro Atlanta

by Julia Sanders May 6, 2021

TUCKER, GA. — JLL Capital Markets has brokered the $20 million sale of Cofer Crossing, a 136,139-square-foot shopping center located 20 miles outside of Atlanta in Tucker. Kroger and HomeGoods anchor the fully leased center. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, a partnership between Site Centers Corp. and Madison International Realty. A private buyer based in Ontario, Calif., acquired the asset in a 1031 exchange. Hanley Investment Group’s Ed Hanley and Kevin Fryman, along with ParaSell Inc., represented the buyer in the transaction.

May 6, 2021

Acquisitions Georgia Mixed-Use Retail Southeast

Madison Capital Group Acquires Two Vacant Sears Boxes in Savannah and Boise, Plans Mixed-Use Developments

by Julia Sanders May 5, 2021

BOISE, IDAHO AND SAVANNAH, GA. — Madison Capital Group LLC has acquired two vacant Sears boxes located adjacent to active shopping malls, the Boise Town Square in Boise and the Oglethorpe Mall in Savannah. The seller and sales price were not disclosed. Madison Capital Group plans to redevelop each box into a mixed-use development that could include residential housing and retail. Madison Capital Group is based in Charlotte and focuses on investing in multifamily and self-storage properties.

May 5, 2021

Acquisitions Georgia Multifamily Southeast

Vista Realty Partners Sells Marketplace Vista Apartments in Marietta, Georgia for $87M

by Julia Sanders May 4, 2021

MARIETTA, GA. — Vista Realty Partners has sold Marketplace Vista Apartments, a 298-unit luxury multifamily community in Marietta. The buyer, Ohio-based White Oak Partners, purchased the property for $87 million. White Oak Partners also has sold two apartment communities in metro Atlanta recently. The Marketplace Vista Apartments is the residential component of Marketplace at Terrell Mill, a mixed-use development that Eden Rock Real Estate Partners and Connolly Development are co-developing. Marketplace Vista Apartments is located at 1486 Terrell Mill Road SE, close to Interstate 75 and Truist Park, the home ballpark of the Atlanta Braves. Marketplace Vista’s units have been open since August 2020 and were 82 percent occupied at the time of sale. Construction on Marketplace at Terrell Mill started in 2018 and is still currently under development. At full buildout, the tenants at Marketplace at Terrell Mill will include Chick-fil-A, Wendy’s, Panera Bread, Regions Bank, Los Abuelos, Lush Nail Salon, Extra Space Storage and a Kroger store. The new grocery store is a replacement of a nearby Kroger situated a half-mile north along Powers Ferry Road. Synovus Bank provided an undisclosed amount of construction financing for Marketplace Vista. Nationwide Insurance Co., The Radco Cos., Blue Vista Asset Management …

May 4, 2021

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges Sale of Two Apartment Communities in Metro Atlanta

by Julia Sanders May 4, 2021

TUCKER AND DULUTH, GA. — Cushman & Wakefield has arranged the sale of Carrington Chase and Carrington Court, two apartment communities located in the Atlanta suburbs of Tucker and Duluth, respectively. Carrington Chase has a total of 410 units and is located at 6280 S. Norcross Tucker Road in Tucker. Carrington Court has a total of 446 units and is located at 3800 Club Drive in Duluth. Both apartments offer community amenities such as car care centers, cyber cafés, fitness centers, grilling/picnic areas, laundry facilities, business centers, lounges, soccer fields, sports courts and swimming pools with fountains. Carrington Chase was 97 percent occupied at the time of sale, and Carrington Court was 96 percent occupied. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller, Ohio-based White Oak Partners, in the transaction. Charleston-based Greystar Real Estate Partners LLC was the buyer of the two properties. The sales price was not disclosed.

May 4, 2021

Acquisitions Georgia Healthcare Southeast Top Stories

Piedmont Healthcare to Purchase Georgia Hospital Portfolio from HCA for $950M

by John Nelson May 4, 2021

ATLANTA AND NASHVILLE, TENN. — Piedmont Healthcare has signed a purchase agreement with HCA Healthcare Inc. (NYSE: HCA) for the acquisition of four Georgia hospitals and one clinic for a purchase price of $950 million. The two parties are targeting a closing date of July 31. Pending regulatory approval, Piedmont will acquire the 310-bed Eastside Medical Center in Snellville and the 119-bed Cartersville Medical Center in Cartersville, which are both located in metro Atlanta. The acquisition will also include three facilities in Macon: the 310-bed Coliseum Medical Center, the 103-bed Coliseum Northside and the 40-bed Coliseum Center for Behavioral Health. With the acquisition, Piedmont Healthcare is continuing to expand its footprint in metro Atlanta as well as strengthen its portfolio of best-in-class hospitals. Nonprofit watchdog organization Leapfrog Group rated HCA’s Coliseum Medical Centers, Coliseum Northside and Cartersville Medical Center as “A” hospitals in its spring 2021 Leapfrog Hospital Safety Grades report released last week. “HCA Healthcare has instilled a high standard of care into these facilities, and we are proud that they have trusted Piedmont to continue this legacy,” says Kevin Brown, president and CEO of Piedmont Healthcare. For HCA, the transaction increases the Nashville-based company’s financial flexibility for investments …

May 4, 2021

Acquisitions Alabama Florida Georgia Multifamily North Carolina Single-Family Rental Southeast Tennessee

Transcendent Electra Acquires 1,889 New Single-Family Rental Homes in Sun Belt Markets

by Julia Sanders May 3, 2021

MIAMI — Transcendent Electra, a joint venture between single-family rental (SFR) platform Transcendent Investment Management (TIM) and multifamily owner/operator Electra America, has purchased 1,889 new single-family homes. The company has $496 million in contract process and closing and another $1 billion in the pipeline. This acquisition marks Transcendent Electra’s first significant acquisition since launching in February. The properties are new single-family homes and townhomes that are purchased directly from homebuilders throughout the following markets: Birmingham and Huntsville, Ala.; Florida; Savannah and Atlanta, Ga.; North Carolina; South Carolina; Nashville, Tenn.; and Dallas, Houston, San Antonio and Austin in Texas. Transcendent Electra aims to acquire or develop approximately $3 billion in SFR housing over the next three years, with a focus on new-build homes in the $175,000 to $300,000 price range, where average rent will be $1,500 to $2,800 per month.

May 3, 2021

Development Georgia Industrial Self-Storage Southeast

Joint Venture Breaks Ground on 93,000 SF Self-Storage Facility in Canton, Georgia

by Julia Sanders May 3, 2021

CANTON, GA. — A joint venture between Lumpkin Development, MacArthur Holdings and Live Oak Capital Partners has broken ground on a 93,000-square-foot self-storage facility located at 7222 Cumming Highway in Canton, close to the Northside Hospital Cherokee campus. The property is slated to be open to the public in the spring of 2022. The self-storage facility will be located on 9.2 acres and will comprise of drive-up, climate-controlled units. JM Williams Contractors will construct the facility, and Renasant Bank is providing the debt financing for the project. Max Design Group is the project’s architect, and Travis Pruitt & Associates is serving as the civil engineering. The facility is Lumpkin Development’s first Class A storage property in the area. Lumpkin Development builds and operates self-storage, retail and industrial real estate throughout the Southeast. MacArthur Holdings is a New York City-based real estate business, and Live Oak Capital Partners is a real estate developer based in Atlanta.

May 3, 2021

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