Georgia

Cabretta Capital Provides $28M in Equity for Affordable Housing Project Underway in Atlanta

by Alex Tostado July 22, 2020

ATLANTA — Cabretta Capital has teamed with Wendover Housing Partners to develop Hartland Station, a 131-unit affordable housing community in Atlanta’s Sylvan Hills neighborhood, four miles south of downtown Atlanta. Savannah, Ga.-based Cabretta Capital provided the developer with $28 million to develop the property. Forty units will be reserved for those earning 50 percent of the area median income (AMI) or below, and 70 units will be for those making 60 percent of the AMI or below. Communal amenities at the garden-style community will include a business center, picnic area, fitness center and a playground. A timeline for construction was not disclosed.

July 22, 2020

Development Georgia Multifamily Single-Family Rental Southeast

American Homes 4 Rent Opens 127-Home Rental Community in Loganville, Georgia

by Alex Tostado July 21, 2020

LOGANVILLE, GA. — American Homes 4 Rent has opened Stone Creek Community, a 127-home rental community in Loganville. The community comprises single-family homes that feature fenced-in backyards and three-to five-bedroom floor plans ranging from 2,000 to 3,000 square feet. Rents will start in the $1,600s. Each home offers granite countertops, stainless steel appliances, vinyl plank flooring, central heating and air conditioning and two-car garages. The community will also feature a clubhouse, pool, fitness center and a playground. Additionally, routine front and backyard maintenance is included. Stone Creek Community is situated at 5031 U.S. Highway 81, 38 miles east of downtown Atlanta.

July 21, 2020

Georgia Leasing Activity Office Southeast

Rooms To Go Signs 60,000 SF Office Lease in Atlanta’s Central Perimeter Submarket

by Alex Tostado July 20, 2020

ATLANTA — Rooms To Go has signed a 60,000-square-foot lease to relocate its Atlanta office to the city’s Central Perimeter submarket. The furniture company will move to Perimeter Summit, a 1.7 million-square-foot office campus located at 4004 Summit Blvd., 15 miles north of downtown Atlanta. Rooms To Go’s Atlanta office was previously located in Dunwoody. The company is based in Seffner, Fla. Other tenants at Perimeter Summit include IBM, Cox Automotive, Northside Hospital and Verizon. Bryan Heller and Sabrina Gibson of CBRE, as well as Randy Holmes and Andrew Pearson of Seven Oaks Co., represented the landlord, Seven Oaks and GE. David Rubenstein, John Flack and Bo Keatley of Savills represented the tenant in the lease negotiations.

July 20, 2020

Georgia Leasing Activity Retail Southeast

Ju-C Bar Opens Location at Krog Street Market in Atlanta’s Inman Park District

by Alex Tostado July 17, 2020

ATLANTA — Ju-C Bar has opened its second location in metro Atlanta, joining the tenant lineup at Krog Street Market, a 30,000-square-foot food hall in Atlanta’s Inman Park neighborhood. Ju-C Bar is a family-owned restaurant specializing in made-order juices, smoothies, salads and wraps. Krog Street Market is situated along the Atlanta BeltLine’s Eastside Trail, two miles west of downtown Atlanta. Other tenants include Superica, Jeni’s Splendid Ice Creams, Ticonderoga Club, Fred’s Meat & Bread, Watchman’s Seafood and Spirits, Hop City and The Little Tart Bake Shop, as well as retail and office tenants including The Merchant, Iris and The Atlanta BeltLine Partnership. Ju-C Bar’s other location is in the northern suburb of Sandy Springs. Adrienne Crawford and Lily Heimburger of SRS Real Estate Partners represented the landlord, Charlotte, N.C.-based Asana Partners, in the lease transaction. Austin Wilson of Stein Investment Group represented Ju-C Bar.

July 17, 2020

Acquisitions Georgia Multifamily Southeast

Fogelman Properties, DRA Advisors Acquire 334-Unit Multifamily Community in Metro Atlanta

by Alex Tostado July 16, 2020

LITHIA SPRINGS, GA. — A joint venture between Fogelman Properties and DRA Advisors has acquired Fields Waterford Point, a 334-unit multifamily community in Lithia Springs. The buyer plans to renovate all unit interiors and communal spaces, as well as rebrand the property as 670 Thornton. The property offers one-, two- and three-bedroom floor plans with rents ranging from $750 per month to $1,300. Communal amenities include a business center, pool, tennis court, pond and a fitness center. The asset, which was built between 1989 and 1992, is located at 670 Thornton Road, 15 miles west of downtown Atlanta. The seller and sales price were not disclosed.

July 16, 2020

Development Georgia Hospitality Southeast

Lendlease, IHG Army Hotels Open 311-Room Hotel on Fort Gordon in Georgia

by Alex Tostado July 15, 2020

FORT GORDON, GA. — Lendlease and IHG Army Hotels have opened a 311-room Candlewood Suites hotel on the Fort Gordon Army base in Georgia. The property’s rooms offer kitchenettes, and amenities include complimentary breakfast, laundry facilities, a business center, fitness center, pool and a barbecue area. Lendlease, IHG Army Hotels and the U.S. Army have partnered to open 40 hotels across the country, which IHG manages and operates. Lendlease owns, develops and designs the hotels. Fort Gordon is located nine miles west of downtown Augusta. The base serves 109,334 people, including 17,720 active military, according to Military OneSource.

July 15, 2020

Acquisitions Georgia Retail Southeast

Skyline Seven Arranges $7.1M Sale of Retail Property in Metro Atlanta

by Alex Tostado July 15, 2020

NORCROSS, GA. — Skyline Seven Real Estate has arranged the $7.1 million sale of Peachtree Corners Shopping Center, a 106,257-square-foot retail property in Norcross. The asset is situated at 7050 Jimmy Carter Blvd., 20 miles northeast of downtown Atlanta. The property was 44 percent leased at the time of sale to tenants including Family Dollar, Beauty Mart, Arcadio Pizza, Lily Massage Spa and Island Chef Café, as well as an outparcel leased to Popeye’s and Dekra Emissions Check. Elliott Kyle, Chase Murphy and Reid Maynard of Skyline Seven represented the seller, Frank Flanders (whose father built the 10-acre property in 1985), in the transaction. Andy Lundsberg of Atlanta-based Bull Realty represented the private buyer, Mark Nelkin.

July 15, 2020

Georgia Industrial Leasing Activity Southeast

Robinson Weeks Signs Two Tenants to Industrial Leases Totaling 184,670 SF at Gillem Logistics Center in Metro Atlanta

by Alex Tostado July 10, 2020

FOREST PARK, GA. — Robinson Weeks Partners has signed two industrial tenants to occupy a total of 184,670 square feet within Building 400 at Gillem Logistics Center in the south Atlanta suburb of Forest Park. Cleveland-based North Coast Logistics will occupy 107,675 square feet beginning in October. Jacob Westfall of CBRE represented North Coast Logistics in its lease transaction. Orlando-based farming company Kalera Inc. will lease 76,995 square feet at the property, which is situated 12 miles south of downtown Atlanta within five miles of Hartsfield-Jackson Atlanta International Airport. Kalera produces non-GMO vegtables and will be able to double its operations, allowing the facility to produce 11 million heads of lettuce per year. Derek Riggleman and Trip Ackerman of Lee & Associates represented Kalera in its transaction. John Gaskin internally represented Robinson Weeks Partners in both negotiations.

July 10, 2020

Acquisitions Georgia Multifamily Southeast

Radco Sells Multifamily Community in Atlanta for $49.5M

by Alex Tostado July 7, 2020

ATLANTA — The Radco Cos. has sold Ashford 2788, a 297-unit multifamily community in Atlanta, for $49.5 million. The firm acquired the property in 2014 and renovated the community to include a new clubhouse, fitness center and dog park. Other communal amenities include a pool, grilling area, playground and a business center. The Atlanta-based company also renovated unit interiors and property exteriors. Ashford 2788 features two- and three-bedroom floor plans. The community is situated in Atlanta’s Upper Westside neighborhood at 2788 NW Defoors Ferry Road, eight miles northwest of downtown Atlanta. Robert Stickel, Mike Kemether, Travis Presnell and Alex Brown of Cushman & Wakefield represented the seller in the transaction. Quintus Corp. acquired the property.

July 7, 2020

Development Georgia Multifamily Southeast

Alliance Residential to Develop 314-Unit Apartment Complex in Atlanta

by Alex Tostado July 6, 2020

ATLANTA — Alliance Residential will develop Broadstone Upper Westside, a 314-unit apartment complex in Atlanta’s Upper Westside neighborhood. The complex will offer studio, one- and two-bedroom floor plans. Communal amenities will include a community kitchen, clubroom, fitness center, courtyard and a saltwater pool. The Phoenix-based developer closed on the 12-acre site in late June and expects to break ground this year. Alliance plans to open the community in fall 2021. Located at 2167 Bolton Drive NW, the asset is situated seven miles northwest of downtown Atlanta adjacent to the city’s West Midtown district. Dynamik Design is the architect of Broadstone Upper Westside.

July 6, 2020

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