Georgia

CBRE Arranges Sale of 75,305 SF Office Building in Alpharetta, Georgia

by Alex Tostado November 14, 2019

ALPHARETTA, GA. — CBRE has arranged the sale of 4800 North Point, a 75,305-square-foot office building in Alpharetta. The buyer, Virtua Capital Management, will occupy 16,567 square feet, bringing the property to full occupancy. The four-story building is located at 4800 North Point Parkway, about two miles from The Avalon mixed-use project and 26 miles north of downtown Atlanta. Tom Shafer and John Hinson of CBRE represented the seller, Alvarez & Marsal Capital Real Estate, in the transaction. The sales price was not disclosed.

November 14, 2019

Development Georgia Multifamily Southeast Student Housing

Joint Venture Breaks Ground on 532-Bed Student Housing Community Near Georgia Tech

by Alex Tostado November 13, 2019

ATLANTA — A joint venture between Campus Realty, Realiance and T2 Capital Management has broken ground on Catalyst, a 187-unit student housing community in Atlanta that will service Georgia Teach students. The joint venture expects the 532-bed property in West Midtown to open in time for fall 2021 classes. Communal amenities will include a fitness center, study rooms, club rooms, game areas, STEM lab, bike shop with storage area, sky deck with views of the Atlanta skyline, three courtyards, swimming pool with deck, grilling areas, 24-hour package delivery lockers and ride-share pick-up. Realiance is an investment group headquartered in Amsterdam, and T2 is a privately held real estate investment firm based in Wheaton, Ill. Atlanta-based Campus Realty will oversee the development and asset management of the property.

November 13, 2019

Development Georgia Loans Mixed-Use Southeast

Trez Forman Capital Provides $26.7M Loan for Land Acquisition, Phase I of Exchange at Gwinnett Project in Metro Atlanta

by Alex Tostado November 13, 2019

BUFORD, GA. — Trez Forman Capital has provided a $26.7 million loan to Fuqua Development for the acquisition of 67.5 acres in Buford to develop The Exchange at Gwinnett, a planned $350 million mixed-use development in metro Atlanta. Phase I will include 56,000 square feet of retail space that will feature already-committed tenants such as Starbucks, Chipotle and City Barbecue. The property is located at 2925 Buford Drive, next to the Mall of Georgia. At the same time as the land sale, Fuqua Development sold 33 acres to three separate entities for the developments of Topgolf and Rooms-to-Go, as well as a 450-unit apartment community being developed by The Worthing Cos. Fuqua plans to sell another 13 acres for the development of an Andretti Indoor Karting & Games, a 123-room hotel and restaurants. Brett Forman and Russ Holland of Trez Forman Capital originated the loan on behalf of Atlanta-based Fuqua Development.

November 13, 2019

Development Georgia Retail Southeast Top Stories

Jodeco 158 to Develop $400M Mixed-Use Project Near Atlanta

by Taylor Williams November 13, 2019

STOCKBRIDGE, GA. — Jodeco 158 LLC, a newly formed firm headed by local developers Jeff Grant and David Hughes, will develop Bridges at Jodeco, a $400 million mixed-use project near Interstate 75 in Stockbridge, a southeastern suburb of Atlanta. According to the development team, Bridges at Jodeco will be built on the largest remaining tract of undeveloped land adjacent to I-75 in Henry County. The development will also offer convenient access to the Atlanta Motor Speedway and Hartsfield-Jackson Atlanta International Airport. The residential component of the 158-acre project currently calls for 300 high-end apartments, 90 single-family attached townhomes and 176 detached single-family homes that may be used for senior living. More than 65 acres have been zoned for retail, dining and entertainment uses. In addition, the development team is seeking to include hotel, fitness and theater users, as well as other service providers for the retail component. About 20 acres of green space will be reserved for walking paths and trails and pocket parks. “Our intention is to create an amenity-rich, live-work-shop-dine-play destination where people can engage and relax in a comforting, family-centered setting,” says Grant, who serves as principal of Jodeco 158. “We believe Bridges at Jodeco will offer …

November 13, 2019

Georgia Market Reports Mixed-Use Southeast Southeast Market Reports

South Downtown Atlanta is on Fire (Again) with $10B in New Developments

by Alex Tostado November 13, 2019

In 1864, General William T. Sherman burned Atlanta to the ground, including the area around the Zero Mile Post marking the terminus of the Western & Atlantic Railroad. Now, 155 years later, South Downtown is on fire again but this time, it is as one of the hottest development submarkets in the Southeast. With the still-active downtown rail yards at its center, more than $10 billion in new development is either completed, under construction or in the planning stages. This “Downtown Ring of Fire” stretches from Centennial Olympic Park and Mercedes-Benz Stadium to Castleberry Hill and over to Underground Atlanta. The project SSG Realty Partners recently brought to market, Artisan Yards, is a 9.9-acre site at the intersection of Ted Turner Drive (historic Spring Street) and Whitehall Street. It is currently the headquarters of Gourmet Foods International, which has outgrown the property and is relocating to a new facility. The primary catalyst for this significant new development momentum is the $1.6 billion Mercedes-Benz Stadium, home of the Atlanta Falcons and the 2018 MLS Cup champions Atlanta United. The $192 million renovation of State Farm Arena and the $25 million expansion of Centennial Olympic Park were also critical in creating the …

November 13, 2019

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Negotiates $54.3M Sale of New Apartment Complex in West Midtown Atlanta

by Alex Tostado November 11, 2019

ATLANTA — Cushman & Wakefield has negotiated the $54.3 million sale of 464 Bishop, a 232-unit apartment complex in Atlanta’s West Midtown district. The RADCO Cos. acquired the property for $233,836 per unit and will rebrand it as Radius West Midtown. The asset was built in 2017 and offers one- and two-bedroom floor plans. Communal amenities include car charging stations, bike storage, a clubhouse, 24-hour fitness center, media room, internet café, business center, pool and a dog park. Situated at 464 Bishop St. NW, the property is less than a mile from Atlantic Station and five miles northwest of downtown Atlanta. Chris Spain, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller and developer, Newport Development Partners, in the transaction.

November 11, 2019

Acquisitions Development Georgia Industrial Southeast

Coca-Cola Bottling United Buys Development Site in South Georgia to Build $60M Flex Facility

by Alex Tostado November 8, 2019

TIFTON, GA. — Coca-Cola Bottling Co. Inc. United has acquired an 88.6-acre development site in Tifton for $1.4 million. The company plans to develop a $60 million sales center and warehouse spanning 300,000 square feet on the site. Birmingham, Ala.-based Coca-Cola Bottling United expects the facility to open in late 2021, when it will house 200 employees and produce 4.5 million cases on non-alcoholic beverages per year. The property is located at 101 Lamb Loop Road, which is a near the GSF Railway, which runs from Macon, Ga. to Lake City, Fla. with an alternative route to Jacksonville, Fla. Jamie Smithson and Conor Welton of JLL represented the seller, Independent Investors Inc., in the land transaction. David DeVaney of NAI Charter represented the buyer.

November 8, 2019

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Brokers $48.2M Sale of The Ellis Apartment Community in Savannah

by Alex Tostado November 7, 2019

SAVANNAH, GA. — Cushman & Wakefield has brokered the $48.2 million sale of The Ellis, a new 235-unit apartment complex in Savannah. The property offers studio, one- and two-bedroom floor plans. Communal amenities include a swimming pool, clubroom, yoga studio, 24-hour fitness center, poolside fire pit, dog park, pet spa and grilling stations. The sellers, Brand Properties and Mariner Group, delivered the property earlier this year. Robert Stickel, Taylor Bird and Alex Brown of Cushman & Wakefield represented the sellers in the transaction. ECI Group acquired the property.

November 7, 2019

Acquisitions Georgia Industrial Southeast

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

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