MCDONOUGH, GA. — Mattress manufacturer Purple plans to invest $21 million in a new 519,680-square-foot facility in McDonough. The Lehi, Utah-based company signed a lease with landlord PNK Group for space within Southern Gateway at Lambert Farms, which is located at 1325 Ga. Highway 42 S., 21 miles southeast of Hartsfield-Jackson Atlanta International Airport. Purple expects to move into the space before the end of 2020, and it will house 360 employees. This is Purple’s first manufacturing site outside of Utah. Brothers Tony and Terry Pearce founded Purple, which is named after the color of the patented Hyper-Elastic Polymer, the ultra-stretchy, gel-like top layer of what would become their signature product: the Purple Bed.
NEWNAN, GA. — Retail Value Inc. (RVI) has sold a Lowe’s Home Improvement store in Newnan for $15.6 million to an undisclosed buyer. The property is situated at 955 Bullsboro Drive, 35 miles southwest of downtown Atlanta. Lowe’s shadow anchors Newnan Crossing, which RVI sold to Halpern Enterprises for $11.6 million in January. Tenants at Newnan Crossing include Hobby Lobby, GNC, American Deli, Metro by T-Mobile, Sally Beauty and Edible Arrangements.
MARIETTA AND NORCROSS, GA. — TerraCap Management LLC has acquired Cobb Corporate Center in Marietta and Northwood Commons in Norcross for a combined $27.6 million. The two properties comprise eight single-story buildings totaling 297,000 square feet. Cobb Corporate Center was 80 percent leased at the time of sale and Northwood Commons was 53 percent leased. Cobb Corporate Center is located at 400 Franklin Gateway SE, 17 miles northwest of downtown Atlanta. Northwood Commons is situated at 5000 Peachtree Industrial Blvd., 23 miles northeast of downtown Atlanta. TerraCap has hired Lincoln Property Co. to handle leasing efforts and to manage the properties. Tom Shafer and John Hinson of CBRE-Atlanta represented the undisclosed seller in the transaction. Bridge Debt Strategies Fund Manager and the CBRE-Atlanta debt team provided acquisition financing on behalf of the buyer.
BRASELTON, GA. — McShane Construction has completed Noble Vines at Braselton, a 248-unit multifamily community in Braselton. The Auburn, Ala.-based general contractor delivered the property on behalf of the developer, Claret Communities. Designed by Studio for Housing Design, the new complex offers 10 three-story buildings. Unit interiors feature tile backsplashes, granite countertops and stainless steel appliances. Communal amenities include a pool, fitness center, clubhouse, resident lounge, grilling stations, dog park and a car wash area. Noble Vines is situated at 1500 Noble Vines Drive, six miles from Chateau Elan Winery & Resort and 43 miles northeast of downtown Atlanta. Claret Communities received a HUD 221(d)(4) loan to fund the project’s construction.
ATLANTA — Lee & Associates has arranged two industrial leases totaling 259,262 square feet in Atlanta. The property, situated at 4099 Old Dixie Highway, is situated two miles west of Hartsfield-Jackson Atlanta International Airport. The landlord, Meniscus Group, acquired the property in 2016 as a value-add purchase. The company completed renovations in 2019, which included installing a new roof and ESFR sprinklers. Mike Sutter and Billy Snowden of Lee & Associates represented the landlord in both lease transactions. Travis Stanaway of Kidder Matthews represented Yita LLC and John Gosnell of Foundry Commercial represented JW Fulfillment Inc. in their leases at 4099 Old Dixie Highway. Yita is a Seattle-based auto parts dealer and JW Fulfillment is a truck rental company.
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.
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.
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.
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.
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.