Georgia

Coro Realty, Pope & Land Acquire Three Shopping Centers Near Atlanta

by Alex Tostado March 17, 2020

ATLANTA — An Atlanta-based partnership between Coro Realty and Pope & Land has acquired three shopping centers spanning 118,500 square feet north of Atlanta. The first property is the 23,500-square-foot Brookside Station in Alpharetta. The asset is situated along Old Milton Parkway, 35 miles north of downtown Atlanta. Also included in the sale was Mansell Oaks, which spans 43,000 square feet. Mansell Oaks is situated in Roswell, 25 miles north of downtown Atlanta. The final property is Town Center Oaks in Kennesaw. The property comprises 52,000 square feet and is situated 23 miles northwest of downtown Atlanta. Dunwoody, Ga.-based Muntzing-Sattele Co. sold the properties for an undisclosed price.

March 17, 2020

Acquisitions Georgia Multifamily Southeast

Dunross Capital Purchases Two Adjacent Apartment Complexes Totaling 486 Units in Metro Atlanta

by Alex Tostado March 17, 2020

DECATUR, GA. — Dunross Capital has purchased Spring Valley Apartments and Park at Candler, two adjacent multifamily communities in Decatur. The New York City-based buyer plans to implement $7 million worth of interior and exterior renovations at both properties. Park at Candler comprises 236 units and offers one- through four-bedroom floor plans. Communal amenities include a fitness center, pool, playground and a tennis court. The property was built in 1971 and is situated at 2571 Candler Road, eight miles east of downtown Atlanta. The other property, Spring Valley Apartments, is a 250-unit complex located directly across the street from Park Candler. Spring Valley offers one-two- and three-bedroom floor plans. Communal amenities include a pool, laundry facilities, green spaces and a clubroom. Additional details of the transaction were not disclosed.

March 17, 2020

Georgia Hospitality Southeast

Hunter Hotel Conference to be Rescheduled Due to Coronavirus

by Alex Tostado March 13, 2020

ATLANTA — The 32nd annual Hunter Hotel Investment Conference, slated to take place at the Atlanta Marriott Marquis from March 18 to 20, has been postponed as part of a concerted effort worldwide to contain the spread of COVID-19, the illness caused by the coronavirus. The conference presenter, Atlanta-based Hunter Hotel Advisors, says it will identify alternative dates for the event. An education and networking event for hotel investors, the conference attracted more than 1,850 attendees from across the Southeast and beyond in 2019. A note posted to the conference website Thursday afternoon read in part: “After the unprecedented events of the past 24 hours, and with an overabundance of caution for everyone involved, we have made the difficult decision to postpone/reschedule the Hunter Conference. We know at times like this it is important to meet and discuss current issues, but given the circumstances it doesn’t seem appropriate.” The number of coronavirus cases topped 125,000 worldwide as of Friday morning. Leaders across the United States are banning large gatherings to thwart the spread of the illness. In response to the growing coronavirus pandemic, President Donald Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance …

March 13, 2020

Development Georgia Industrial Southeast

Sugar Bowl Bakery to Open $37M Manufacturing Facility in Metro Atlanta

by Alex Tostado March 13, 2020

TUCKER, GA. — Sugar Bowl Bakery will open a manufacturing facility in Tucker. The family-owned bakery expects to create 400 jobs and invest $37 million over the next five years. The property is situated at 3301 Montreal Industrial Way, 15 miles northeast of downtown Atlanta. The new positions available will include bakery management, production, quality assurance, maintenance, warehousing and sanitation. Further details about the facility were not disclosed. The Ly family founded Sugar Bowl Bakery in 1984 in San Francisco. The Tucker facility is the company’s first location on the East Coast.

March 13, 2020

Georgia Loans Office Southeast

NXT Capital Closes $19M Refinancing Loan for Two Office Buildings Near Atlanta

by Alex Tostado March 11, 2020

DULUTH, GA. — NXT Capital has provided a $19 million refinancing loan for Sugarloaf VI and VII, two office buildings comprising 160,000 square feet in Duluth. The property is situated at 2905 and 2915 Premiere Parkway, 29 miles northeast of downtown Atlanta in Gwinnett County. Property amenities include large lobbies and an outdoor greenspace. C.J. Kelley of CBRE originated the loan on behalf of the undisclosed borrower. Further details of the loan were not disclosed.

March 11, 2020

Development Georgia Industrial Office Southeast

Trammell Crow Delivers 341,041 SF Office, Distribution Center for Atlanta Community Food Bank in East Point

by Alex Tostado March 10, 2020

EAST POINT, GA. — Trammell Crow Co. has delivered a 341,041-square-foot office headquarters and distribution center for Atlanta Community Food Bank in East Point. The new facility includes 84,953 square feet of corporate office space, 69,931 square feet of cold storage and 186,157 square feet of warehouse space. Energy-saving features of the building include high-efficiency LED lighting and windows with low-energy tinted glazing. The property is situated on 65 acres at 3400 N. Desert Drive, about four miles west of Hartsfield-Jackson Atlanta International Airport. Of the 71.7 million pounds of food and grocery product the company distributed in fiscal year 2019, 22 percent was fresh produce. The food bank works with more than 700 partner agencies that directly distribute food to 29 counties within metro Atlanta and North Georgia.

March 10, 2020

Acquisitions Georgia Multifamily Southeast

FCP Acquires Three Apartment Complexes in Metro Atlanta for $71.7M

by Alex Tostado March 10, 2020

DOUGLASVILLE AND AUSTELL, GA. — FCP has acquired a 652-unit multifamily portfolio comprising Place at Midway and Stewart’s Mill in Douglasville and Forest Glen in Austell for $71.7 million. The 200-unit Place at Midway is located at 2281 Midway Road, 21 miles west of downtown Atlanta. The 188-unit Stewart’s Mill is situated at 3421 W. Stewart Mill Road, about six miles from Place at Midway. Forest Glen offers 264 units at 4236 Austell Road, 18 miles northwest of downtown Atlanta. FCP has hired Pinnacle to manage the three communities, bringing the total FCP-owned units that Pinnacle manages to 8,566 units. FCP owns 14 properties comprising 2,810 units in metro Atlanta. Nathan Swenson of Cushman & Wakefield represented the undisclosed seller in the transaction. FCP will assume the existing Fannie Mae loans at each property.

March 10, 2020

Acquisitions Georgia Industrial Loans Southeast

Truist Provides $84.3M Acquisition Loan for 16-Property Industrial Portfolio

by Alex Tostado March 10, 2020

ATLANTA — Truist Financial Corp., through subsidiary SunTrust Commercial Real Estate, has provided an $84.3 million loan to Atlanta-based MDH Partners for the acquisition of seven warehouses, three truck terminals and six trailer yards spread across the Atlanta, Memphis, Louisville, Dallas and Kansas City markets. The warehouses and truck terminal assets total 1.9 million square feet. The six trailer yards contain 1,855 trailer spaces on 46.1 acres in Kansas City. Mark Hancock of Truist originated the loan on behalf of the borrower. The seller(s) was not disclosed.

March 10, 2020

Acquisitions Georgia Multifamily Southeast

Marcus & Millichap Arranges $21M Sale of Apartment Portfolio in Macon, Georgia

by Alex Tostado March 5, 2020

MACON, GA. — Marcus & Millichap has arranged the $21 million sale of a 296-unit apartment portfolio in Macon. Both the buyer and seller were undisclosed limited liability companies. The first property is Anthos at Hidden Lake, a 144-unit property located at 180 Hidden Lake Court. The community offers one-, two- and three-bedroom floor plans, as well as amenities including a fitness center, pool and a playground. The second property is Anthos at Shadowood West, a 152-unit property also offering one-, two- and three-bedroom floor plans. Communal amenities include a pool, fitness center, playground and a volleyball court. Anthos at Shadowood West is situated at 4334 W. Highland Drive. Mason Taylor, Cole Carros and Nate McDaniel of Marcus & Millichap represented the seller in the transaction. The team also procured the buyer.

March 5, 2020

Development Georgia Industrial Southeast

Hines to Develop 737,000 SF Busch Logistics Park Near Atlanta

by Alex Tostado March 4, 2020

CHATSWORTH, GA. — Houston-based Hines will develop Busch Logistics Park, a planned two-building, 737,000-square-foot industrial property in Chatsworth. Both buildings will be developed simultaneously, and Hines expects to deliver them in early 2021. Building A will span 526,400 square feet and feature cross-dock configuration and 36-foot clear heights, and Building B will span 210,600 square feet and feature rear load configuration and a 32-foot clear heights. The property is situated on 97 acres off Cass White Road and Interstate 75, 45 miles northwest of Atlanta. Reed Davis and Bob Currie of JLL will handle leasing efforts on behalf of the developer.

March 4, 2020

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