Georgia

North American Properties to Open 42,000 SF Food Hall at Midtown Atlanta’s Colony Square in Spring 2021

by Alex Tostado September 11, 2020

ATLANTA — North American Properties (NAP) is planning to open Politan Row, a 42,000-square-foot food hall, at its Colony Square mixed-use development in Midtown Atlanta. The interior of Politan Row will span 20,000 square feet, while the outdoor area will total 22,000 square feet. New Orleans-based Politan Group will operate the food hall, which is expected to open in spring 2021. Colony Square is located near the intersection of Peachtree and 14th streets, three miles north of downtown Atlanta. Colony Square at full buildout will include 912,000 square feet of Class A office space leased to tenants including Whole Foods Market and law firm Jones Day; 160,000 square feet of retail and restaurants housing tenants such as IPIC, Starbucks, Holeman & Finch Public House and Chick-fil-A; the 466-room W-Atlanta Midtown hotel; outdoor gathering spaces and 262 luxury residences.

September 11, 2020

Georgia Loans Multifamily Southeast

Berkadia Provides $37.7M Refinancing Loan for Apartment Community Near Atlanta

by Alex Tostado September 11, 2020

NORCROSS, GA. — Berkadia has provided a $37.7 million Freddie Mac refinancing loan for The Reserve at Gwinnett, a 370-unit apartment community in Norcross. The 10-year loan features a fixed interest rate. Corby Chaffin and Michael Weinberg of Berkadia originated the financing on behalf of the owner, Broadtree Residential Inc. The Reserve at Gwinnett was built in 1999 and comprises 14 residential buildings offering one- through three-bedroom floor plans. Units range in size from 959 to 1,555 square feet. Communal amenities include a fitness center, clubhouse, business center, pool, grilling area, dog park and tennis courts. The asset is situated at 1780 Graves Road, 17 miles northeast of downtown Atlanta.

September 11, 2020

Acquisitions Georgia Retail Southeast

Marcus & Millichap Negotiates $2.3M Sale of CVS-Anchored Retail Property in Metro Atlanta

by Alex Tostado September 11, 2020

LILBURN, GA. — Marcus & Millichap has negotiated the $2.3 million sale of a 13,375-square-foot retail property in Lilburn. CVS/pharmacy anchors the three-tenant asset, which was also leased to Lee Nails and Domino’s Pizza at the time of sale. The property is situated at 5575 Lawrenceville Highway, 18 miles northeast of downtown Atlanta. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, the Schwaighoffer Brothers, in the transaction. The buyer was Atlanta-based M&P Shopping Centers. “We generated seven offers in the first few days on the market,” says Taylor. “This activity was a clear illustration of the renewed desirability that essential tenants like drug stores currently demand.”

September 11, 2020

Development Georgia Leasing Activity Retail Southeast

MAB American Management Signs Planet Fitness, Petsense at $80M Shopping Center in Monroe, Georgia

by John Nelson September 11, 2020

MONROE, GA. — MAB American Management has signed retailers Planet Fitness and Petsense to leases at Monroe Pavilion, a 350,000-square-foot shopping center underway in Monroe. Retail Specialists is handling the leasing assignment of the $80 million development. Located in Walton County about 45 miles east of Atlanta, Monroe Pavilion’s tenant roster will include Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Planet Fitness is set to lease 16,120 square feet, and Petsense will occupy 6,000 square feet. MAB plans to deliver the shopping center in summer 2021.

September 11, 2020

Development Georgia Multifamily Southeast

Cushman & Wakefield Arranges $46.9M Construction Financing for Multifamily Complex in Metro Atlanta

by Alex Tostado September 10, 2020

DOUGLASVILLE, GA. — Cushman & Wakefield has arranged $46.9 million in construction financing for Sweetwater Vista, a planned 300-unit multifamily complex in Douglasville. The borrower, Vista Realty Partners, is developing the property to include nine three- and four-story buildings. The asset will be situated on Riverside Parkway, 15 miles west of downtown Atlanta. Communal amenities will include a fitness center, pool, clubhouse, grilling area and a resident lounge. Michael Ryan, Brian Linnihan, Richard Henry and Blake Cohen of Cushman & Wakefield arranged preferred equity through Nationwide Insurance Co. and senior financing through Synovus Bank. Flournoy Construction is the general contractor, and Niles Bolton Associates is the architect. Vista Realty Partners expects to open the community in late 2021.

September 10, 2020

Development Georgia Industrial Southeast

Seefried Delivers Four-Story Distribution Center for Amazon in Metro Atlanta

by Alex Tostado September 9, 2020

STONE MOUNTAIN, GA. — Atlanta-based Seefried Industrial Properties has delivered a 640,000-square-foot industrial facility in Stone Mountain. Developed on a build-to-suit basis for Amazon, the four-story distribution center stands 70 feet tall and features Amazon Robotics technology. The property is situated at 2255 W. Park Place Blvd., 19 miles northeast of downtown Atlanta. The Seattle-based e-commerce giant expects to house 1,000 employees at the site. The Conlan Co. was the general contractor, Eberly & Associates was the civil engineer and Macgregor Associates was the architect. Seefried has now built more than 35 industrial facilities for Amazon, including Georgia facilities in Macon and near Augusta.

September 9, 2020

Company News Georgia Southeast

Architect Jack Portman III Dies at Age 71

by Alex Tostado September 9, 2020

ATLANTA — John Calvin “Jack” Portman III, chairman and CEO of Atlanta-based Portman Architects, has died at age 71 due to natural causes. Portman is the son of famous Atlanta architect John Calvin Portman Jr. Portman III started at then-John Portman & Associates in 1973. Portman III took over leadership of Portman Architects following the death of his father in 2017. Portman III earned a Bachelor of Architecture from Georgia Tech and a Master of Architecture from Harvard University’s Graduate School of Design. He is survived by his five children; his mother, Jan Portman; four siblings; and five grandchildren. Currently, Portman Architects has six ongoing projects in Midtown Atlanta, Near Hartsfield-Jackson Atlanta International Airport and in Salt Lake City.

September 9, 2020

Development Georgia Industrial Southeast

CenterPoint Properties to Develop 650,000 SF Industrial Facility Near Port of Savannah

by Alex Tostado September 8, 2020

SAVANNAH, GA. — CenterPoint Properties plans to develop a 650,000-square-foot industrial facility near the Port of Savannah. The Oak Brook, Ill.-based company recently acquired 73 acres on the 2100-2200 block of Ga. Highway 307, which is three miles from the port and five miles from Savannah/Hilton Head International Airport. A timeline for construction was not disclosed.

September 8, 2020

Georgia Industrial Loans Multifamily Self-Storage Southeast

Trillium Provides $10.5M Refinancing, Construction Loans for Three Properties in Georgia

by Alex Tostado September 8, 2020

COLUMBUS AND MACON, GA. — Trillium Capital Resources has provided three loans totaling $10.5 million for two multifamily properties and a self-storage facility in Georgia. In Macon, Trillium provided a $1.6 million refinancing loan to a Valdosta, Ga.-based developer for an undisclosed 50-unit multifamily property. In Columbus, the locally based lender provided a $3.65 million refinancing loan for an undisclosed 80-unit community to a Phenix City, Ala.-based investor. The 10-year term loans featured fixed interest rates ranging from 3.14 percent to 3.57 percent. Also in Columbus, an undisclosed developer is building a 100,000-square-foot self-storage facility that is expected to deliver in summer 2021. Trillium provided the developer, which will own and manage the property upon completion, with a $5.26 million construction loan, featuring a fixed 3.77 percent interest rate.

September 8, 2020

Georgia Retail Southeast

Avalon to Host Inaugural Pop-Up Holiday Market in Metro Atlanta

by Alex Tostado September 2, 2020

ALPHARETTA, GA. — North American Properties (NAP), developer and manager of the 86-acre mixed-use property Avalon in Alpharetta, will host its inaugural Holiday Market at Avalon. The event will be a six-week, outdoor pop-up market that will share an intersection with Tesla, Rumi’s Kitchen and Apple. Holiday Market at Avalon will open Nov. 22 as part of Avalon’s 2020 Holiday Experience, which has been altered due to the COVID-19 pandemic. The holiday program will include Santa experiences and Avalon on Ice, the destination’s Rockefeller Center-sized ice-skating rink. Holiday Market at Avalon will be held at a 9,000-square-foot retail space at the intersection of Avalon Boulevard and 1st Street. The market will be open through Jan. 3. Participating businesses will have the opportunity to create their own retail experience in individual spaces ranging from 150 feet to 700 square feet.

September 2, 2020

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