Georgia

Dermody Properties to Develop 176,463 SF Industrial Property in Metro Atlanta

by Alex Tostado June 15, 2020

ACWORTH, GA. — Dermody Properties will break ground in July on LogistiCenter at New McEver, a 176,463-square-foot industrial building in Acworth. Dermody recently acquired the 12.3-acre plot on New McEver Road, two miles southeast of downtown Acworth and 30 miles northwest of downtown Atlanta. The Cobb County property will offer build-to-suit office space and feature 34 dock-high doors, two drive-in doors, 32-foot clear heights, 168 car parking spaces, a 130- to 185-foot truck court, six-inch reinforced concrete floor, tilt-up concrete panel construction and an ESFR fire protection system. Austin Brannen and Matt Bentley of NAI Brannen Goddard represented Dermody Properties in the acquisition of land and will be the leasing brokers for the project. Terms of the land sale were not disclosed.

June 15, 2020

Development Georgia Mixed-Use Multifamily Retail Southeast Top Stories

Hunt Underway on $166M Herndon Square Mixed-Use Project in Downtown Atlanta

by Jeff Shaw June 15, 2020

ATLANTA — Hunt Development Group has started construction of Phase I of Herndon Square, a 12-acre, mixed-use project in downtown Atlanta. Upon full build-out, the project will feature 700 residential units, 40,000 square feet of retail space and 20,000 square feet of community space open to the general public. The site is located on Northside Drive, approximately one mile north of Mercedes-Benz Arena, Philips Arena, Centennial Olympic Park and the other attractions in the heart of the city. The project, a redevelopment of the former Herndon Homes affordable community, will feature a mix of affordable and market-rate apartments and for-sale townhomes. Development costs are estimated at $166 million. Phase I of the project will include a five-story affordable housing building for seniors totaling 97 units, as well as an associated surface parking lot. Phase II will include a residential building and mixed-use building with a grocery store as the ground-floor anchor. Phase III will add another residential building and a second mixed-use building with ground-floor retail and apartments above, as well as the Herndon Green public outdoor area and a community supportive services building. Phase IV will add a final apartment building, while the fifth and final phase will add …

June 15, 2020

Georgia Leasing Activity Office Southeast

Marketing Firm Nebo Signs 16,000 SF Office Lease Within The MET in Atlanta’s Adair Park District

by Alex Tostado June 12, 2020

ATLANTA — Marketing firm Nebo has relocated its office headquarters to a 16,000-square-foot space within The MET Atlanta. The MET is a 1.1 million-square-foot space that features more than 150 tenants and is located at 680 Murphy Ave. in the city’s Adair Park neighborhood, two miles south of downtown Atlanta. Nebo, which was founded in 2004, moved into the new space June 1 on a 10-year lease. Nebo relocated from 1000 Marietta St., where it employed 100 workers. In the new space, Nebo expects to hire an additional 150 employees. The landlord, Atlanta-based Carter, acquired The MET in June 2018.

June 12, 2020

Florida Georgia Loans Multifamily Southeast

Hunt Provides Three Refinancing Loans Totaling $45.5M for Multifamily Portfolio in Alabama, Georgia

by Alex Tostado June 10, 2020

NEW YORK CITY — Hunt Real Estate Capital has provided three Fannie Mae refinancing loans totaling $45.5 million for three multifamily communities comprising 620 units in Alabama and Georgia. The properties are Tapestry on Vaughn in Montgomery and Trilliam Luxury Apartment Homes in Clanton, Ala.; and Pavilion at Plantation Way in Macon, Ga. Chad Hagwood of New York City-based Hunt Real Estate originated the loan on behalf of the borrower, EBSCO Income Properties LLC. All three loans feature 12-year terms and fixed interest rates with four years of interest-only payments. Tapestry on Vaughn is a 252-unit garden-style community that was built in 1994. The community offers one- through three-bedroom floor plans. Communal amenities include a picnic area, fitness center, pool and a playground. Trilliam Luxury Apartments is a 128-unit affordable housing community that was built in 2002. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, resident lounge, storage space, fitness center, pool and a playground. Pavilion at Plantation Way is a 240-unit property that was built in 2009. The community offers one- through three-bedroom floor plans. Communal amenities include a pool, media center, movie theater, fitness center and a business center.

June 10, 2020

Georgia Retail Southeast

Pandemic’s Impact on Retail Imports Easing, But Volume is Still Well Below Last Year, Says NRF

by Alex Tostado June 9, 2020

WASHINGTON, D.C. — COVID-19’s impact on U.S. retail imports is easing, beating prior forecasts, says the National Retail Federation (NRF). The NRF and partner Hackett Associates released their Global Port Tracker on Monday, which showed that ports handled just over 1.6 million 20-foot equivalent units (TEUs), beating expectations from one month ago. “Imports are erratic, with one month up and the next down,” says Ben Hackett, founder of Hackett Associates. “Getting 40 million people back to work will take time, especially with many fearful of catching the virus and staying home. That makes a rapid return to an economic boom unlikely.” Even with an immediate boom delayed, Jonathan Gold, vice president for supply chain and customs policy for NRF, points out that the April numbers show that the economy is recovering faster than what was projected just one month ago. The volume of 1.6 million TEUs in April was down 7.8 percent from April 2019, but it was up 17 percent from March 2020. NRF’s forecast for April showed 1.5 million TEUs coming through the ports. “It may still be too soon to say but we’ll take that as a sign that the situation could be slowly starting to improve,” …

June 9, 2020

Georgia Leasing Activity Office Southeast

Law Firm Signs 48,000 SF Office Lease at Bank of America Plaza in Downtown Atlanta

by Alex Tostado June 9, 2020

ATLANTA — Law firm Lewis Brisbois has signed a 48,000-square-foot office lease at Bank of America Plaza in downtown Atlanta. The company will occupy the 46th and 47th floors beginning in April 2021. Lewis Brubois, which was found in Los Angeles in 1979, is relocating its Atlanta office from 1180 Peachtree St. The landlord of Bank of America Plaza, Shorenstein Properties, recently completed a $10 million renovation to the building’s west wing that delivered modern amenities; workspace; and Marketplace 600, a 17,000-square-foot food hall. Other amenities include the 17,000-square-foot RPM Health Club & Spa, conference facilities and a Starbucks in the main lobby. Jeff Keppen and Nicole Goldsmith of CBRE represented the landlord in the transaction. Jonathan Larsen, Rick Nash, Chandler Larsen and Molly Millard of Avison Young represented the tenant.

June 9, 2020

Development Georgia Retail Southeast

Branch Properties to Develop 83,000 SF Publix-Anchored Shopping Center in Metro Atlanta

by Alex Tostado June 8, 2020

TUCKER, GA. — Branch Properties will develop Hugh Howell, an 83,000-square-foot, Publix-anchored shopping center in Tucker. Publix will occupy 48,000 square feet, and Branch Properties will develop an additional 35,000 square feet of space across three buildings and two outparcels. The $19 million project will span 14 acres at the northeast corner of Hugh Howell Road and Mountain Industrial Boulevard, 15 miles northeast of downtown Atlanta. Publix will relocate from an existing site less than one mile away. Phillips Partnership is the architect of the project, and Contineo Group is the civil engineer. Branch Properties has not yet determined a general contractor. Construction is expected to be complete in fall 2021.

June 8, 2020

Development Georgia Retail Southeast

Branch Properties to Develop $29M Publix-Anchored Shopping Center in Metro Atlanta

by Alex Tostado June 5, 2020

DUNWOODY, GA. — Branch Properties will develop Perimeter Marketplace, a planned 39,150-square-foot shopping center in Dunwoody. A 25,147-square-foot Publix will anchor the property. The developer expects to deliver the project in fall 2021. The 10-acre plot is located just north of Perimeter Mall, 17 miles north of downtown Atlanta. Young Contracting is the general contractor for the project, Phillips Partnership is the architect and Contineo Group is the civil engineer.

June 5, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges $19.6M Sale of Distribution Facility Near Port of Savannah

by Alex Tostado June 5, 2020

PORT WENTWORTH, GA. — JLL has arranged the $19.6 million sale of a 281,467-square-foot distribution center in Port Wentworth. The property is situated at 110 Little Hearst Parkway, within Savannah River International Trade Park and six miles from the Port of Savannah. The asset was delivered in 2019. Patrick Nally, Trent Agnew, Matt Wirth, Britton Burdette, Dennis Mitchell and Pete Pittroff of JLL represented the buyer, Exeter Property Group, in the transaction. The seller was not disclosed.

June 5, 2020

Acquisitions Georgia Industrial Southeast

Transwestern Investment Group Acquires 238,533 SF Industrial Property in Metro Atlanta

by Alex Tostado June 3, 2020

FAIRBURN, GA. — Transwestern Investment Group has acquired Bohannon Logistics Center, a 238,533-square-foot industrial building in Fairburn. The seller, DHL Supply Chain, delivered the asset earlier this year. The property is situated at 5002 Bohannon Road, 13 miles southwest of Hartsfield-Jackson Atlanta International Airport and 22 miles southwest of downtown Atlanta. The building features 47 dock doors, 32-foot clear heights, 130 auto parking spaces, 54 trailer parking spaces and a 185-foot concrete truck court. Transwestern Real Estate Services will provide property management services. Reed Davis and Bob Currie of JLL are handling leasing efforts. Mike Chambers and Bill Kee of NAI Brannen Goddard represented the seller in the transaction. The sales price was not disclosed.

June 3, 2020

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