Georgia

Elevation Financial Group Sells Multifamily Property in Columbus, Georgia for $13M

by Julia Sanders March 11, 2021

COLUMBUS, GA. — Elevation Financial Group has sold Serenity Apartments, a 211-unit multifamily community in Columbus, for $13 million. The buyer was not disclosed. Elevation purchased Serenity in July 2018 for $7.6 million, when it was 72 percent occupied. Since then the Orlando-based firm has made several enhancements, including the revitalization of over 50 apartment units, a complete rehabilitation of the leasing office, new carpet in all exterior breezeways, exterior painting of the townhome buildings and parking lot paving. At the time of sale, the property was 96 percent occupied. Serenity is situated within eight miles of Fort Benning Army Base and three miles from Columbus State University. The property marks the sixth disposition for Elevation Real Property Fund VI. Properties remaining in the portfolio include a multifamily community in Alabama, one in Mississippi, two seniors housing properties in Virginia and one seniors housing community in Illinois.

March 11, 2021

Development Georgia Multifamily Southeast Student Housing

Landmark, AECOM-Canyon to Develop 32-Story Student Housing Tower in Downtown Atlanta

by Julia Sanders March 9, 2021

ATLANTA — Landmark Properties and AECOM-Canyon Partners have partnered to co-develop The Metropolitan at Atlanta, a 32-story, 835-bed student housing development located a quarter-mile from Georgia State University (GSU) in downtown Atlanta. Construction at The Metropolitan will begin later this month and is scheduled for completion by August 2023. Located at Luckie Street and Ted Turner Drive, the 265-unit project will span 325,000 square feet, including approximately 5,700 square feet of retail space. The mixed-use development will be located near Five Points MARTA station, Centennial Olympic Park, Mercedes-Benz Stadium and State Farm Arena. The Metropolitan will be Landmark’s fourth development in the Atlanta area since 2018. The Metropolitan will offer one- to five-bedroom units. Community amenities will include a clubhouse, outdoor pool, concierge service, 24-hour fitness center, golf simulator and café study lounge. Units will feature granite countertops and stainless steel appliances, as well as high-speed internet and cable. AECOM-Canyon Partners, a joint venture partnership between AECOM Capital and Canyon Partners LLC, is bringing design, construction management and engineering expertise to the project. Landmark Urban Construction is the general contractor for the project, and CNNA Architects and W&A Engineering are also part of the development team. Landmark is a student …

March 9, 2021

Bohler Development Georgia Hospitality Southeast

Legacy Ventures Opens Hyatt House Atlanta Perimeter Center Ahead of Schedule

by Julia Sanders March 8, 2021

SANDY SPRINGS, GA. — Legacy Ventures has opened Hyatt House Atlanta Perimeter Center located in Sandy Springs’ “Pill Hill” medical district a full two months ahead of schedule. The extended-stay hotel has 186 rooms and seeks to bring hospitality to patients and professionals visiting the area. The Hyatt House’s location benefits from The Simpson Organization’s redevelopment of Peachtree Dunwoody Pavilion, newly renamed Altmore, into a more mixed-use and walkable environment. The development features a pedestrian bridge directly to MARTA’s Medical Center Station, and Simpson also plans to add multifamily housing and a multi-use trail in a later phase of the development. The project team included Bohler, a landscape consultant and tech design services engineering firm based in Warren, N.J., as well as Atlanta-based firms Choate Construction and Cooper Carry. Bohler helped bring the project to completion ahead of schedule by looking beyond design to consider constructability and identifying potential risks and creative solutions. Hyatt House Atlanta Perimeter Center is Legacy Ventures’ fourth ground-up hotel developed in the greater Atlanta area. Ameris Bank provided the construction financing for the project.

March 8, 2021

Acquisitions Georgia Restaurant Retail Southeast

RRI Acquires Whole Foods-Anchored Shopping Center in Savannah for $24.7M

by Julia Sanders March 8, 2021

SAVANNAH, GA. — New York-based Rothenberg-Rosenfield Inc. (RRI) has acquired Victory Station, a 64,164-square foot, Whole Foods Market-anchored shopping center situated at the corner of Harry S. Truman Parkway and Victory Drive in Savannah. RRI purchased the property from Clarion Partners for $24.7 million. Built in 2013, Victory Station is currently 96 percent leased with only one available space. The Whole Foods is the retailer’s only location in Savannah and one of only two specialty grocery stores in the entire trade area. The shopping center’s other national tenants include PetSmart, Chipotle Mexican Grill, T-Mobile and Zoe’s Kitchen. RRI is engaging Colliers International to lease and manage the property.

March 8, 2021

Development Georgia Healthcare Southeast

Remedy Medical Delivers 113,000 SF Piedmont Healthcare Medical Building in Newnan, Georgia

by Julia Sanders March 8, 2021

NEWNAN, GA. — Remedy Medical Properties has developed Piedmont Medical Plaza II, a five-story, 113,000-square-foot outpatient facility located on the Piedmont Newnan Hospital campus in Newnan. Construction of the medical office building began in September 2019 and is now open to the public. Located at 795 Poplar Road, Piedmont Medical Plaza II is close to Interstate 85 and is approximately 29 miles from Hartsfield-Jackson Atlanta International Airport. The facility offers parking for patients, physicians and staff. The medical office building will offer healthcare services including cardiology, cardiovascular imaging, cardiac and pulmonary rehab, general surgery, neurology, orthopedics, physical therapy and occupational therapy. Atlanta-based Carter assisted in the site selection, local permitting and construction oversight. West Point, Ga.-based Batson-Cook Construction was the general contractor, and Nashville-based ESa was the architect. Remedy owns and will manage the facility, as well as provide strategic planning, development and leasing services. Some tenant space still remains for leasing in the new medical building.

March 8, 2021

Development Georgia Multifamily Southeast

PointOne Holdings, Residential Group to Develop 256-Unit SODO Apartments in Duluth, Georgia

by Julia Sanders March 8, 2021

DULUTH, GA. — South Florida-based PointOne Holdings has partnered with Atlanta-based The Residential Group to develop SODO, a 256-unit multifamily residential community at 3256 Buford Highway in Duluth, a northeastern suburb of Metro Atlanta. First units are slated to be delivered in the summer of 2022. SODA will include four-story buildings, with a clubhouse, business center, cyber café and coworking space. Community amenities will include a pool with a fire pit and grilling areas, fitness center, dog park and a pet spa. The property will also include finishes such as stone countertops, designer cabinetry, stainless steel appliances and hardwood-style flooring. PointOne and The Residential Group recently closed the site acquisition and financing for the project. Construction will soon be underway, with first units expected to come on line in summer 2022.

March 8, 2021

Acquisitions Georgia Multifamily Southeast

Alliance Residential Acquires 74.9 Acres in Jefferson, Georgia for New Multifamily Development

by Julia Sanders March 8, 2021

JEFFERSON, GA. — Alliance Residential Co. has acquired 74.9 acres at 575 Concord Road in Jefferson for the development of Prose Concord, a new multifamily property totaling 300 units. This property will be Alliance Residential’s first launch of Prose in the Southeast. Construction will begin on Prose Concord this year with an expected completion date of March 2022. Architect Hensley Lamkin Rachel Inc. is designing the development. Prose Concord will include one- and two-bedroom apartment units averaging 1,008 square feet. Apartments will feature stainless steel appliances, wood plank-style flooring, walk-in closets, storage and dining-sized kitchen islands. Community amenities will include a fitness center, coworking spaces, pet park and a 24/7 package concierge,. The multifamily community will be located on the northeast side of Atlanta, close to many industrial spaces. Over the past few years, 18 million square feet of industrial warehouse and distribution space has been delivered within a five-mile radius of Prose Concord. Another four million square feet of industrial space is currently under development. Recently, Amazon and Walmart leased 800,000 and 1 million square feet of space, respectively, within a few miles of Prose Concord.

March 8, 2021

Development Georgia Industrial Southeast

Oakmont, Pacolet Milliken Break Ground on 484,323 SF Logistics Center in Kennesaw, Georgia

by Julia Sanders March 5, 2021

KENNESAW, GA. — Oakmont Industrial Group has broken ground on a 484,323-square-foot cross-dock logistics center in Kennesaw. Oakmont is developing the facility on a speculative basis through a joint venture with Pacolet Milliken. The Conlan Co. is the project’s general contractor, and Regions Bank is providing construction financing. The project, Oakmont Cobb International, is situated on 35 acres within Cobb International Park, a business park located near Interstate 75 and U.S. Highway 41 (also known as Cobb Parkway). In addition to Oakmont Cobb International, Oakmont is also underway with a 468,000-square-foot building off Hartman Road in Atlanta’s I-20 West industrial submarket. Oakmont Cobb International will feature at least 40-foot clear heights, cross-dock loading offering 103 dock-high loading doors, an enhanced 7-inch Ductilcrete floor slab system, 70-foot loading bays and full-concrete truck courts providing for up to 147 trailer storage spaces. Additionally, the project provides a lot at the north end of the building that will provide additional function and flexibility based on the end-user’s specific needs. Oakmont Industrial Group is an industrial real estate development and management company based in Atlanta. Pacolet Milliken is a private, family-owned investment company based in Greenville, S.C.

March 5, 2021

Development Georgia Hospitality Southeast

CGI Merchant Group Invests $30M to Develop New Hotel, Training Center at Morris Brown College in Atlanta

by Julia Sanders March 3, 2021

ATLANTA — CGI Merchant Group LLC (CGI), a global investment management firm, will invest $30 million to convert existing facilities at Morris Brown College in Atlanta into an upscale, 150-room hotel and hospitality management training complex. Construction of the 90,000-square-foot facility is expected to begin later this year. The investment was made through CGI’s new $650 million Hospitality Opportunity Fund, whose goal is to acquire 20 hotels in North America and the Caribbean over the next three years. Morris Brown was founded in 1881 and is the first college in Georgia to be owned and operated by African Americans. The college is located within a one-mile radius from other Historically Black College and Universities (HBCU) Morehouse College, Spelman College and Clark Atlanta University. The campus sits next to Mercedes Benz Stadium, home arena of the Atlanta Falcons and Atlanta United. The hotel, which will be branded under the Tapestry Collection by Hilton, will feature two food and beverage outlets, an outdoor terrace and instructional space for the school’s hospitality students. With this investment, Morris Brown is the only HBCU nationwide with both a flagged hotel and a hospitality management training program on its campus. Hilton Worldwide Holdings Inc. will serve …

March 3, 2021

Georgia Leasing Activity Restaurant Retail Southeast

Branch Properties Signs New Retailers to Join Perimeter Marketplace in Dunwoody, Georgia

by Julia Sanders March 1, 2021

DUNWOODY, GA. — Branch Properties has signed several new restaurants and healthcare tenants at Perimeter Marketplace in Dunwoody. The upcoming Publix-anchored development, located on Ashford-Dunwoody Road, is expected to open this October. The new tenants at Perimeter Marketplace will include burger chain BurgerFi, salad restaurant chain Chop’t, Panda Express, Aspen Dental, One Medical and First Watch, a daytime café. Perimeter Marketplace will also include a QuikTrip gas station. Upon completion, Perimeter Marketplace will feature 68,077 square feet of retail and restaurant space. In the summer of 2020, Publix signed on to occupy a 25,147-square-foot space. Following these recent lease deals, the center is currently 77 percent preleased. Atlanta-based Branch Properties LLC is a private real estate investment firm.

March 1, 2021

Newer Posts

Older Posts