Georgia

Delaware North to Bring Golf Entertainment Concept to The Battery Atlanta

by Alex Tostado August 16, 2019

ATLANTA — Delaware North will open Good Game, a 7,500-square-foot dining and entertainment concept that offers Topgolf’s Swing Suite virtual simulator bays. Good Game will house seven bays, accommodating up to eight people in each bay. The Topgolf Swing Suite bays also offer a variety of virtual games, including the Topgolf target game, Zombie Dodgeball, Hockey Shots, Baseball Pitching and Carnival Classic. Delaware North, which has been the exclusive food and beverage service provider for Battery landlord Braves Development Co. and SunTrust Park since 2016, also operates the Terrapin Taproom, H&F Burger and Coca-Cola Roxy Theater within the mixed-use village.

August 16, 2019

Development Georgia Industrial Southeast

Brennan Investment to Develop 216,000 SF Spec Industrial Building Near Atlanta

by Alex Tostado August 15, 2019

CONYERS, GA. — Brennan Investment Group has acquired 15.9 acres in Conyers to develop a 216,000-square-foot speculative industrial building. The site is located at 2082 E. Park Drive, 28 miles east of downtown Atlanta. The facility will include 32-foot clear heights, an ESFR sprinkler system, auto parking and trailer storage. Groundbreaking is scheduled for the third quarter, with completion expected in the third quarter of 2020. Bobby Mayson of Lavista Associates represented the buyer in the transaction. The seller and sales price were not disclosed.

August 15, 2019

Development Georgia Office Southeast

Gene Kansas Commercial Real Estate to Open 35,000 SF Coworking Space in Atlanta

by Alex Tostado August 14, 2019

ATLANTA — Gene Kansas Commercial Real Estate plans to open Indie Studios, a 35,000-square-foot coworking space in Atlanta, in spring 2020. Located at 190 Ottley Drive, Indie Studios will be fashioned for designers and creative companies with 12 spaces accommodating eight to 20 people. Indie Studios will also include “Studio X,” a technology-driven space for software developers creating programs, products and processes that center on design. Amenities at Indie Studios will include a living room, conference rooms, full-service café, community space, porches, patios, 150 linear feet of front garden and cinnamon rolls served each afternoon with complimentary coffee. Additionally, the space is situated across the street from SweetWater Brewing Co. Atlanta-based Gene Kansas will develop, lease and manage Indie Studios.

August 14, 2019

Acquisitions Georgia Retail Southeast

S.J. Collins Sells New Whole Foods Market 365-Anchored Shopping Center in Metro Atlanta

by Alex Tostado August 14, 2019

DECATUR, GA. — Atlanta-based developer S.J. Collins Enterprises has sold the retail portion of North Decatur Station, a newly delivered mixed-use development in Decatur. The fully leased, 86,164-square-foot shopping center is anchored by Whole Foods Market 365 and opened in early 2019. The center is located a 1555 Church St., eight miles east of downtown Atlanta. Other tenants include Hollywood Feed, Gusto!, Big Peach Running, Club Pilates, Jason’s Deli, F45 Fitness and Thrive Vet Clinic. North Decatur Station also includes Solis Decatur Apartments, a 290-unit multifamily community that was not included in the sale. Fain Hicks, Lane Breedlove and Tyler Anderson of Cushman & Wakefield represented S.J. Collins in the transaction. Weingarten Realty Investors acquired the property. The sales price was not disclosed.

August 14, 2019

Acquisitions Georgia Office Southeast

Coldwell Banker Brokers Sale of 140,800 SF Office Building in Downtown Macon, Georgia

by Alex Tostado August 13, 2019

MACON, GA. — Coldwell Banker Commercial Eberhardt & Barry Inc. has brokered the sale of a 140,800-square-foot office building in downtown Macon that used to house the Macon Telegraph, a local newspaper. In 2004, producer, publisher and owner of the Macon Telegraph, Macon Telegraph Publishing Co., moved the newspaper’s production process to Columbus, Ga. While some employees relocated at the time, the remaining employees relocated to the former Bank of America Building in 2014. The building is located at 120 Broadway St. A local investor bought the property and intends to lease it for various business uses. The McClatchy Co., which bought the Macon Telegraph in 2006, was the seller. The sales price was not disclosed.

August 13, 2019

Acquisitions Georgia Office Southeast

CBRE Arranges $19M Sale of Office Building in Atlanta’s Cumberland-Galleria Area

by Alex Tostado August 13, 2019

ATLANTA — CBRE has arranged the $19 million sale of 3301 Windy Ridge, a six-story, 106,574-square-foot office building within Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. The property is located near The Battery Atlanta and SunTrust Park, home to Major League Baseball’s Atlanta Braves. 3301 Windy Ridge was 98 percent leased to a diverse tenant roster at the time of sale. Individuals Christian Lopez and Jeff Lopez acquired the property from a joint venture between Greenstone Partners and RSF Partners. Tom Shafer and John Hinson of CBRE represented the seller.

August 13, 2019

Acquisitions Georgia Industrial Southeast

IDI Logistics Sells 750,000 SF Industrial Building in Central Georgia to Five Below

by Alex Tostado August 12, 2019

FORSYTH, GA. — IDI Logistics has sold a 750,000-square-foot, build-to-suit industrial facility to Five Below in Forsyth. The new building, which IDI delivered in May, features 40-foot clear heights. This was the first building delivered within IDI’s Meridian 75 Logistics Center, a 250-acre industrial park located about 60 miles south of downtown Atlanta. Five Below has occupied the entire distribution facility since it opened. Founded in 2002, Philadelphia-based Five Below is a national retailer that sells products that cost $5 or less. Bob Robers and Pat Murphy of Cushman & Wakefield represented IDI Logistics in the transaction. Mark Sims, Ray Stache and Lisa Pittman of Cushman & Wakefield represented Five Below. The sales price was not disclosed.

August 12, 2019

Company News Georgia Lee & Associates Southeast

Mark Hollan of Lee & Associates Dies at Age 61 Due to Complications from Cancer

by Alex Tostado August 9, 2019

ATLANTA — Mark Hollan, executive vice president, principal and founding partner with the Atlanta office of Lee & Associates, died July 27 due to complications from cancer. Hollan was 61. In his 35-year commercial real estate career, Hollan racked up more than $300 million in transaction history. While at Lee & Associates in Atlanta, Hollan garnered the title of the firm’s top broker 12 times and finished in the top five 25 times. Hollan also earned numerous industry awards including Atlanta Commercial Board of Realtors (ACBR) Top Land Broker and an ACBR Million Dollar Club member (20-plus years). “Mark’s business acumen and work ethic were not only an integral part of the firm’s financial success, but also contributed to the achievements of many younger associates, and to the friendly and supportive culture of our corporate environment,” says Dick Bryant, president and CEO at Lee & Associates’ Atlanta office. “His legacy lives on at Lee & Associates — Atlanta.”

August 9, 2019

Acquisitions Georgia Office Southeast

Colliers Arranges $24.8M Sale of Office Building in Midtown Atlanta

by Alex Tostado August 8, 2019

ATLANTA — Colliers International has arranged the $24.8 million sale of Midtown Atlanta’s Silhouette, a 10-story office building. Silhouette, known for the silhouettes of people painted on the side, is located at 1447 Peachtree St. Amenities include a renovated lobby and HVAC system, access to public transit and two electric car charging stations. Silver Spirit, a company that helps startup businesses, acquired the property. Colliers has been retained to handle leasing efforts on behalf of the new owner. Hayes Swann and Aman Gaur of Colliers represented the seller, Dau Global, in the transaction.

August 8, 2019

Acquisitions Georgia Healthcare Southeast

Regional Health Properties Sells Three Skilled Nursing Facilities Nationwide for $24.1M

by Alex Tostado August 8, 2019

SUWANEE, GA. — Suwanee-based Regional Health Properties (RHP) has sold three of four skilled nursing properties located in Oklahoma, Alabama and Georgia to affiliates of MED Healthcare Partners. The four-property transaction was previously disclosed by RHP in April. The three properties were sold for $26.1 million in a cash deal. RHP and MED agreed to extend the closing date on the fourth property located in Oklahoma to Sunday, Aug. 18. RHP used the cash proceeds from the sale to pay approximately $1 million in outstanding interest, fees and other costs and to repay $24.7 million in debt, which was secured by the four skilled nursing facilities, subject to the purchase and sale agreement. As a result of such repayment, RHP has paid back all debt owing to Pinecone Realty Partners II and Congressional Bank. For a period of three months following the repayment, Pinecone will continue to hold a right of first refusal to provide first mortgage financing for any acquisition of a healthcare facility by RHP and an exclusive option to refinance the company’s existing first mortgage loan on RHP’s Coosa Valley Health Care facility.

August 8, 2019

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