Georgia

Anchor Health Properties Acquires Medical Office Building in Metro Atlanta’s Gwinnett County for $5.3M

by Alex Tostado May 19, 2020

LAWRENCEVILLE, GA. — Anchor Health Properties has acquired Walther Professional Center, an 18,471-square-foot medical office building in Lawrenceville, for $5.3 million. Two tenants, Northeast Atlanta Ear, Nose & Throat and Eastside Heart and Vascular, fully occupy the single-story building. The property is located at 766 Walther Road NW, a mile from Northside Hospital-Gwinnett and 30 miles northeast of downtown Atlanta. Charlottesville, Va.-based Anchor Health manages more than 5 million square feet of medical office space nationwide. Steve Hall and Kevin Markwordt of Transwestern represented the seller, ENTOB LLC, in the transaction.

May 19, 2020

Georgia Leasing Activity Office Southeast

Microsoft Leases 523,000 SF in Atlanta’s West Midtown District, Expects to Create 1,500 Jobs

by Alex Tostado May 18, 2020

ATLANTA — Microsoft Corp. is investing $75 million for its new office space at Atlantic Station in West Midtown Atlanta. The software giant is leasing 523,000 square feet within Atlantic Yards, a two-building office project that Hines and Invesco Real Estate are developing and where Microsoft will be the sole office tenant. The company expects to open its new offices in summer 2021 and create 1,500 high-tech jobs. Microsoft plans for the new space to focus on artificial intelligence and cloud services and include retail space. In metro Atlanta, Microsoft currently operates a cloud computing engineering center in the Coda Building at Technology Square and maintains offices in Buckhead and at Avalon in Alpharetta, another project co-developed by Hines. Hines and Invesco Real Estate also co-developed T3 West Midtown within Atlantic Station, which has attracted other high-profile technology companies such as Facebook.

May 18, 2020

Georgia Office Southeast

New York Life Earns LEED Gold Certification for Prominence in Buckhead Office Tower in Atlanta

by Alex Tostado May 18, 2020

ATLANTA — New York Life Real Estate Investors has earned a Leadership in Energy and Environmental Design (LEED) Gold Certification for its Prominence in Buckhead office tower in Atlanta. The 433,237-square-foot property is situated at 3475 Piedmont Road in Atlanta’s Buckhead district, nine miles north of downtown Atlanta. In order to achieve the certification, the owner enhanced the building ventilation to improve indoor air quality, completed a lighting project in the parking garage that reduced electricity by 65 percent and implemented a recycling program that diverted 50 percent of waste from the building from landfills. Onsite amenities include a newly renovated fitness center, conference facility, café and covered parking. New York Life acquired the asset in 2018, and according to LoopNet Inc., it was built in 1999. State Farm Arena in downtown Atlanta was the most recent building in Georgia to receive the award after a 2019 renovation project was completed.

May 18, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges $33.5M Sale of Distribution Center Near Atlanta Airport

by Alex Tostado May 13, 2020

EAST POINT, GA. — JLL has arranged the $33.5M Sale of Creekside Distribution Center, a 538,500-square-foot property in East Point. Developed in 2016, the property is situated on 32 acres at 2110-2135 Lawrence Ave., five miles north of Hartsfield-Jackson Atlanta International Airport and seven miles southwest of downtown Atlanta. The property features 32-foot clear heights, concrete tilt-wall construction, 85 dock-high doors, five drive-in doors and ESFR fire suppression. Dennis Mitchell, Britton Burdette, Matt Wirth and Brent Bono of JLL represented the seller, a joint venture between Solution Property Group and Singerman Real Estate, in the transaction. Summit Real Estate Group purchased the asset.

May 13, 2020

Georgia Leasing Activity Retail Southeast

Pinewood Forest, Pace Lynch Add Mail Center to Tenant Roster at Mixed-Use Development in Metro Atlanta

by Alex Tostado May 12, 2020

FAYETTEVILLE, GA. — Pinewood Forest and Pace Lynch Corp. have signed Edwin Jarvis, an independent mail center and concierge service, to a lease at a 235-acre mixed-use development in south Atlanta. The project, dubbed Pinewood Forest, comprises single-family homes, multifamily units, a town green, retail space and office space. It is situated near Pinewood Atlanta Studios, which has filmed movies such as “Avengers: Endgame,” “Ant-Man,” “Passengers” and “Guardians of the Galaxy: Vol. 2.” In addition to mail services, Edwin Jarvis will offer residents what it calls “second-mile” concierge services, which include securing a dog walker, setting up appointments for home repairs and booking music lessons. The center’s storefront within Pinewood Forest’s Town Center will connect to the Pinewood Forest community mail room. Other tenants that have signed leases at Pinewood Forest’s Town Center include Leyland Blue Home Décor, Premiere Hair Studio, Sugarcoat Nails, Native Beauty Bar salon and boutique, The Skin Society, Apple Butter Bakery, Honeysuckle Gelato, Hop City + Barleygarden and Braise. Bill Lynch of Pace Lynch Realty and Todd Semrau of Oakhurst Realty Partners represented the developers in the transaction.

May 12, 2020

Georgia Leasing Activity Restaurant Retail Southeast Video Webinar

Webinar: Atlanta Retail Reboot

by Sarah Daniels May 11, 2020

On May 8, Southeast Real Estate Business and Shopping Center Business magazines hosted “Atlanta Retail Reboot,” a webinar where experts from the Atlanta investment, retail and brokerage communities were invited to discuss what they are seeing in the retail market, the impact of the coronavirus on existing properties and on new developments, as well as what retail and restaurants will look like in the near and long term. Many retailers have been closed for weeks due to COVID-19, and the retail industry is facing a tough comeback. Listen to learn what leaders in the metro Atlanta retail real estate community are expecting for the rest of 2020. Shopping Center Business editor Randall Shearin moderates a candid discussion on what to look forward to in terms of recovery for the Atlanta’s retail owners and tenants. Webinar sponsor: Retail Specialists, a full-service, retail-centric real estate company with a focus on the Southeast and beyond. Their services include leasing and brokerage, retailer representation, property management and development. Panelists: Emil Gullia, Retail Specialists Kyle Stonis, SRS Tom McCarty, Jim ‘N Nick’s Jeff Garrison, S.J. Collins Enterprises Bill Brown of Halpern Enterprises Click here to access the complimentary webinar recording. Hear what experts in the …

May 11, 2020

Features Georgia Restaurant Retail Southeast Southeast Feature Archive Video Webinar

Retail Reboot Webinar: Wave of Second-Generation Restaurant Space to Hit Atlanta Market

by John Nelson May 11, 2020

As many as 150,000 to 200,000 restaurants nationwide may never fully reopen again after the COVID-19 pandemic subsides, according to estimates from the National Restaurant Association. This represents 15 to 20 percent of all U.S. restaurants. Though the metro Atlanta area’s restaurants have been allowed to reopen their dining rooms for a full two weeks following Georgia Gov. Brian Kemp’s directives in late April, early indications are that a large swath of operators are choosing to keep them closed and focus on takeout, delivery and catering. Others are making the hard choice to close their eateries permanently. As a result, there will be a wave of second-generation restaurant space that will need to be absorbed before new restaurants are built en masse in metro Atlanta, said Tom McCarty of barbecue restaurant chain Jim ’N Nick’s during a webinar hosted by France Media’s Shopping Center Business and sponsored by Retail Specialists. “From our standpoint, our developments are on hold for now,” said McCarty about the chain, which opened a location in metro Atlanta’s East Cobb district late last year. “The focus of the company is on getting our existing restaurants back up and running profitably. Once that happens, then we’ll start …

May 11, 2020

Development Georgia Industrial Southeast

Alston Construction Delivers 646,380 SF Industrial Facility for Loloi Rugs Near Atlanta

by Alex Tostado May 6, 2020

CARTERSVILLE, GA. — Alston Construction has delivered a 646,380-square-foot distribution center and showroom for Loloi Rugs in Cartersville. Ware Malcomb provided architecture and interior design for the build-to-suit facility, which is located at 840 Cassville White Road, less than one mile from Interstate 75 and 50 miles northwest of downtown Atlanta. The single-story building features tilt-wall construction, 32-foot clear heights, 10,000 square feet of office space and 5,000 square feet of showroom space. Dallas-based Loloi Rugs is family-owned and -led and has been in operation since 2004. The textile company produces rugs, pillows and throws.

May 6, 2020

Acquisitions Georgia Multifamily Southeast

Capstone Arranges $21M Sale of Multifamily Community in LaGrange, Georgia

by Alex Tostado May 6, 2020

LAGRANGE, GA. — Capstone Apartment Partners has arranged the $21 million sale of SunRidge Apartment Homes, a 192-unit multifamily community in LaGrange. The property comprises 11 buildings offering one-, two- and three-bedroom floor plans there were 96 percent occupied at the time of sale. Communal amenities include a pool, playground, tennis courts, volleyball court, putting greens, grilling area, fitness center, a car washing station and laundry facilities. The property, which was built in 2001, is situated at 1235 Hogansville Road, three miles east of downtown LaGrange. Alex McDermott, Bryse Toothaker, Austin Green, Sean Henry and Dan McBurney of Capstone represented the seller, Sunny Pak, in the transaction. The buyer was Southwood Realty Group.

May 6, 2020

Georgia Industrial Leasing Activity Southeast

GE Current Signs 150,000 SF Lease for Distribution Center in Metro Atlanta

by Alex Tostado May 6, 2020

FAIRBURN, GA. — GE Current has signed a 150,000-square-foot lease for a distribution center in Fairburn. GE Current, which specializes in energy-efficient lighting for commercial real estate space, will use the facility to deliver same- and next-day delivery to its customers in the region. GE Current will employ 40 people at the center. The property is situated at 5150 Oakley Industrial Blvd., 10 miles south of Hartsfield-Jackson Atlanta International Airport. Another tenant occupies the other half of the building. Further details of the lease were not disclosed.

May 6, 2020

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