Georgia

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

Georgia Market Reports Restaurant Retail Southeast Southeast Market Reports

Landlords, Retailers in Metro Atlanta Impacted by COVID-19 Seek Middle Ground in Lease Negotiations

by John Nelson May 6, 2020

The financial impact the COVID-19 economic shutdown is having on tenants and landlords is a difficult mix of immediate drastic reduction (or elimination) of revenue, along with little or no ability to forecast when the end will come. This combination of severity and unclear duration makes finding potential win-win compromises a real challenge for tenants and landlords in the metro Atlanta area. While deal pipelines across the industry have ground to a halt, companies, teams and individuals are using this sudden influx of time as an opportunity to take up important tasks that, while not producing revenue, will set up future opportunities. They are catching up on conversations, expanding their networks, engaging with social media, doing industry research, continuing their professional educations and learning new skills. Landlords, on the other hand, are having to take this challenge head on and are testing the waters with solutions like pause agreements, rent deferrals (in many cases, equivalent term is added at the end of these leases) and other creative ways to provide relief to their tenants while not endangering their own interests or those of their lenders. There’s no certainty that these issues won’t have to be addressed again, periodically, as the …

May 6, 2020

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges $52M Sale of Multifamily Community Near Atlanta

by Alex Tostado May 5, 2020

DULUTH, GA. — Cushman & Wakefield has arranged the $52 million sale of The Hills on Breckinridge, a 400-unit multifamily community in Duluth. The property was built in 1986 and offers one- and two-bedroom floor plans. The seller, Wilkinson Corp., has implemented recent renovations, including a new clubhouse, pool, sports court, dog park and playground, as well as interior upgrades. The property is situated at 3450 Breckinridge Blvd., 24 miles northeast of downtown Atlanta. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller in the transaction. The buyer was not disclosed.

May 5, 2020

Company News Georgia Retail Southeast

Jamestown Launches $50M Relief Effort to Help Small Business Tenants Reopen

by Alex Tostado May 4, 2020

ATLANTA — Atlanta-based Jamestown has launched a $50 million fund to aid small businesses at its properties that are in the process of reopening as states relax retail closures. Funding allocations will be distributed as each qualifying tenant develops a reopening plan with its local Jamestown property management team. Funds received through the relief effort can be used to cover operating expenses, as well as mandatory measures implemented to remain in compliance with local, state and federal guidelines related to COVID-19. Jamestown did not release its definition for a small business but the U.S. Small Business Administration (SBA) defines a small business retail as companies earning less than $7.5 million in annual receipts. In March, Jamestown launched an online resource guide to help its small business tenants find materials about maintaining business operations, financing, health and safety resources, as well as best practices for operating and reopening in a COVID-19 environment. Jamestown owns properties in New York, California, Washington, D.C., Georgia, Florida, Pennsylvania, North Carolina and Massachusetts. Some of its notable assets include Ponce City Market and The Shops at Buckhead Atlanta in Georgia, One Times Square in New York City, Constitution Wharf in Massachusetts, and Raleigh Iron Works in North Carolina.

May 4, 2020

Acquisitions Georgia Office Southeast

Stan Johnson Co. Arranges $6.7M Sale of Office Building in East Atlanta

by Alex Tostado May 4, 2020

ATLANTA — Stan Johnson Co. has arranged the $6.7 million sale of a 25,416-square-foot office building in the Kirkwood neighborhood of east Atlanta. The single-tenant building, located at 200 Arizona Ave. NE, serves as mobile and web app development company Big Nerd Ranch’s headquarters. The property was originally built in 1955 and was renovated in 2014. The building sits on two acres, four miles east of downtown Atlanta. A private California-based investor completing a 1031 exchange bought the property from a Dallas-based private investor. Mollie Alteri, Joey Odom, Mike Sladich and Maggie Holmes of Stan Johnson represented the seller in the transaction.

May 4, 2020

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