Georgia

Granite REIT Acquires 689,400 SF Distribution Center Near Port of Savannah for $47.5M

by Alex Tostado November 7, 2019

POOLER, GA. — Granite REIT has acquired a 689,400-square-foot distribution center located at 100 Clyde Alexander Lane in Pooler, adjacent to another industrial park it owns. The Toronto-based company, which is traded on both the Toronto and New York stock exchanges, bought the 100 Clyde Alexander facility for $47.5 million. The property is situated on 48.3 acres about four miles from the gate of the Port of Savannah. The property offers 32-foot clear heights, four drive-in doors and 120 dock doors. The property was fully leased at the time of sale with more than three years left on the tenant’s lease. The tenant was not disclosed, although the Atlanta Business Chronicle reports the tenant is Best Choice Products, an e-commerce provider with a focus on home furnishings, toys and appliances.

November 7, 2019

Data Centers Development Georgia Industrial Southeast

QTS Realty to Expand Data Center Near Downtown Atlanta

by Alex Tostado November 6, 2019

ATLANTA — QTS Realty Trust has begun its data center expansion in Atlanta’s Knight Park/Howell Station neighborhood. The expansion will span 250,000 square feet and be located adjacent to QTS’ existing data center at 1033 Jefferson St. NW, four miles from downtown Atlanta. QTS plans to deliver Phase I of the expansion in mid-2020. QTS has signed a lease with an undisclosed anchor tenant that will consume 12 megawatts of power as part of its lease terms The existing building comprises 970,000 square feet, has more than 250 customers and provides access to more than 2,000 cross connects and more than 200 network, IT and cloud providers.

November 6, 2019

Acquisitions Georgia Multifamily Southeast

Berkadia Negotiates Sales of Multifamily Properties in Metro Atlanta Totaling $80M

by Alex Tostado November 6, 2019

ATLANTA — Berkadia has negotiated two sales of four multifamily properties in metro Atlanta totaling $80 million. In the first sale, Matt White, Paul Vetter, Andrew Mays and Judy MacManus of Berkadia arranged the combined $36 million sales of Pines at Greenbriar and Mountain Oaks on behalf of the seller, a joint venture between Adams Investor and Crown Bay Group. Pines at Greenbriar sold to Olive Tree Holdings and Mountain Oaks sold to Highland Properties Group. Pines at Greenbriar is located at 2909 Campbellton Road in southwest Atlanta. The 376-unit property offers one-, two- and three-bedroom floor plans. Communal amenities include a dog park, playground and an onsite laundry facility. The buyer has plans to renovate an unspecified number of units. Mountain Oaks is located at 4719 Central Drive in Stone Mountain, 14 miles east of downtown Atlanta. The community offers one-, two- and three-bedroom floor plans along with community amenities such as a barbeque area, pool and a newly renovated clubhouse. In the second deal, the same Berkadia team brokered the $44 million sale of Sedgefield Apartments and Castlebrook Apartments, two garden-style properties in Marietta. Berkadia represented the seller, Princeton Enterprises LLC. The Waldon Group acquired both properties. Sedgefield …

November 6, 2019

Development Georgia Multifamily Seniors Housing Southeast

Holbrook Completes $74M Seniors Housing Community in Decatur, Georgia

by Alex Tostado November 4, 2019

DECATUR, GA. — Holbrook has completed construction of Holbrook Decatur, a 200-unit active adult community located roughly 10 miles northwest of downtown Atlanta. Development costs were estimated at $74 million. The five-story building offers 18 individualized floor plans. A grand opening was held Thursday, Oct. 24 at the community. Amenities include custom closets, a fireplace, wine chiller, air ionization and UV water purification. Alpharetta, Ga.-based Holbrook develops, owns and manages active adult, enriched and inspired living communities across the Southeast.

November 4, 2019

Georgia Leasing Activity Restaurant Retail Southeast

Celebrity-Backed Tavern to Open in Downtown Alpharetta in February

by Alex Tostado November 4, 2019

ALPHARETTA, GA. — Five Guys Taverns LLC has signed a lease to open Taffer’s Tavern at 33 S. Main St. in historic downtown Alpharetta in February 2020. The location will be the first in the nation for Taffer’s Tavern, which is backed by TV star Jon Taffer. Taffer is the host of “Bar Rescue.” The restaurant will be situated in the Liberty Hall building, directly across the street from City Hall. The building will feature the original bar, which was built in the 1700s and imported from England. Taffer’s Tavern will offer a menu that features a vacuum-sealed cooking method that doesn’t use traditional, commercial equipment. Locally based firm Chandlee and Sons Construction will serve as the general contractor. Five Guys Taverns plans to open four more restaurants across the state. The company has teamed with Fransmart, which also partners with companies such as Qdoba Mexican Grill and Five Guys, as its franchise development partner.

November 4, 2019

Acquisitions Georgia Retail Southeast

JLL Negotiates Sale of 335,190 SF Cobb Place Shopping Center in Metro Atlanta

by Alex Tostado November 1, 2019

KENNESAW, GA. — JLL has negotiated the sale of Cobb Place, a 335,190-square-foot retail center in Kennesaw. The property was 95 percent leased at the time of sale to tenants including Bassett Furniture, American Signature Furniture, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, Hobbytown USA, DSW, Jersey Mike’s and Play It Again Sports. Cobb Place is situated on 31 acres at 840 Ernest W. Barrett Parkway, 24 miles northwest of downtown Atlanta. Jim Hamilton and Brad Buchanan of JLL represented the seller, a partnership between DRA Advisors LLC and RCG Ventures LLC, in the transaction. A fund sponsored by Wicker Park Capital Management purchased the asset. Additionally, Chip Sykes of JLL arranged acquisition financing on behalf of the buyer. Goldman Sachs provided the seven-year, fixed-rate loan.

November 1, 2019

Acquisitions Georgia Industrial Southeast

Plymouth Industrial REIT Acquires Multi-Tenant Building Near Atlanta for $19.4M

by Alex Tostado November 1, 2019

PEACHTREE CITY, GA. — Plymouth Industrial REIT has acquired a 295,693-square-foot industrial building in Peachtree City for $19.4 million. The property was fully leased at the time of sale to 15 tenants including Metal Tech-USA, a specialty fabricator and distributor of architectural systems and high-end metals; Gerresheimer, a specialty glass and products manufacturer to the pharmaceutical and healthcare industries; and M-OK Freight Corp., a freight services company specializing in warehousing and distribution services. The asset is located at 611 Ga. Highway 74 S., in the Fayette/Coweta Industrial submarket, 26 miles south of Hartsfield-Jackson Atlanta International Airport. The seller was not disclosed.

November 1, 2019

Acquisitions Georgia Multifamily Southeast

Urban Realty, Case Pomeroy Sell Two Adjacent Apartment Complexes in East Atlanta for $48.2M

by Alex Tostado October 29, 2019

ATLANTA — A joint venture between Urban Realty Partners and Case Pomeroy Properties has sold two neighboring apartment complexes totaling 217 units in Atlanta’s Grant Park neighborhood for $48.2 million. The George and The Leonard are located at 275 Memorial Drive SE and 301 Memorial Drive, respectively, less than a mile east of downtown Atlanta. The communities offer one- and two-bedroom floor plans. Communal amenities include 11,581 square feet of retail space, a clubhouse, business center, pet play area, pet washing area, fitness center and a swimming pool. Mike Kemether, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller in the transaction. Grubb Properties acquired the buildings.

October 29, 2019

Acquisitions Georgia Retail Southeast

Halpern Enterprises Acquires 133,310 SF Shopping Center in North Georgia

by Alex Tostado October 28, 2019

CALHOUN, GA. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.

October 28, 2019

Development Georgia Hospitality Loans Mixed-Use Southeast Top Stories

Selig Enterprises Secures $340M Financing, Announces Hotel Brand at Mixed-Use Development in Midtown Atlanta

by Alex Patton October 25, 2019

ATLANTA — Selig Enterprises has secured $340 million in construction financing for 1105 West Peachtree, its three-tower, mixed-use development in Midtown Atlanta. The project will feature a 675,000-square-foot office tower, a 64-unit condominium tower, and a 178-room Epicurean Hotel. The towers will also house 25,000 square feet of ground-floor retail. The Blackstone Group Inc. provided the construction loan, partially financing the $530 million project. “We have been fortunate enough to already garner the attention of some prominent tenants in the market including the signing of Smith, Gambrell & Russell for five floors [of the office tower],” says Chris Ahrenkiel, executive vice president of Selig Development. “The preleasing activity allowed for strong finance and equity options and also warranted an increase in the building size to over 675,000 square feet — the single largest tower to start construction in Atlanta in more than a decade.” Selig is partnering with Mainsail Lodging & Development to build The Epicurean Atlanta hotel, which will operate under the Marriott Autograph Collection banner. The hotel will offer 178 rooms, a full-service culinary program, conference and event facilities, and an outdoor terrace on the ninth floor. 40 West 12th will offer condos ranging from $600,000 to $2.2 million, in …

October 25, 2019

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