Georgia

Cushman & Wakefield Negotiates $41M Sale of Multifamily Community in Augusta

by Alex Tostado October 23, 2019

AUGUSTA, GA. — Cushman & Wakefield has negotiated the $41 million sale of Estates at Perimeter, a 240-unit multifamily community in Augusta. The property offers one- through three-bedroom floor plans. Communal amenities include a bark park, clubhouse, media center, car care center, fitness center, playground and a swimming pool. Estates at Perimeter was built in 2007 in west Augusta where Interstates 20 and 520 meet. Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the sellers, Coastal Ridge Real Estate and H. Katz Capital, in the transaction. Young Homes acquired the property.

October 23, 2019

Georgia Hospitality Loans Southeast

PMZ Realty Capital Arranges $29M Refinancing for Two Jekyll Island Hotels

by Alex Tostado October 23, 2019

JEKYLL ISLAND, GA. — PMZ Realty Capital LLC has arranged a $29 million refinancing loan for two hotels on Jekyll Island in Georgia: Holiday Inn Resort Jekyll Island and Beachview Club, both of which have recently been fully renovated. The borrower, Georgia Coast Holdings, acquired the 157-room Holiday Inn in 2013, fully gutted it and reopened the property in 2015. Amenities at the oceanfront hotel include fully renovated rooms, a fitness center, coffee bar, outdoor bar and grill, new swimming pool and a play area for children. Georgia Coast Holdings bought Beachview Club in 2017. The ownership renovated the 38-room asset into a boutique beachfront hotel with amenities such as a courtyard, beach access and a Keurig coffee machine in each room. North Pointe Hospitality LLC will manage both properties. The lender was not disclosed.

October 23, 2019

Georgia Leasing Activity Office Southeast

Chick-fil-A Signs 40,000 SF Office Lease in Atlanta’s Old Fourth Ward

by Alex Tostado October 22, 2019

ATLANTA — Chick-fil-A has signed an office lease to occupy the sixth floor of 725 Ponce, a new mixed-use development located on Atlanta BeltLine’s Eastside Trail adjacent to Ponce City Market. The 40,000-square-foot space will house 250 corporate employees and will be an extension of the company’s support center south of Atlanta. Chick-fil-A is expected to move into the new space in summer 2020 when the buildout is complete. A 60,000-square-foot Kroger recently opened at the base of 725 Ponce. Jon Mayeske and Janelle Beasley of Cushman & Wakefield represented the tenant in the lease negotiations. Aileen Almassy, also of Cushman & Wakefield, represented the landlord, New City Properties.

October 22, 2019

Development Georgia Industrial Southeast

Southeastern Mills Opens 140,000 SF Distribution Center in North Georgia

by Alex Tostado October 16, 2019

ROME, GA. — Southeastern Mills has opened a 140,000-square-foot distribution center in Rome. The center is expected to handle more than 300 shipments per month for the Rome-based food company. The facility also offers a video conferencing system and automated doors with trailer restraints. Rome is situated 65 miles north of downtown Atlanta.

October 16, 2019

Development Georgia Multifamily Seniors Housing Southeast

CCRC in Atlanta Breaks Ground on $115M Expansion

by Alex Tostado October 11, 2019

ATLANTA — Lenbrook, an independently owned and operated continuing care retirement community in Atlanta’s upscale Buckhead neighborhood, has broken ground on a 53-unit independent living expansion at the community. Named Kingsboro at Lenbrook, the four-acre expansion project is scheduled for completion in 2022. Development costs were estimated at $115 million. The expansion is split into two buildings. The Flats comprise 39 residences in a five-story building with a variety of floor plans ranging from 1,700 to 3,200 square feet. The Villas will consist of three buildings, each with four to five residences between 2,000 and 3,200 square feet. The project will bring Lenbrook’s total number of residences to 479, including independent living, assisted living and skilled nursing.

October 11, 2019

Development Georgia Multifamily Southeast

Joint Venture Starts Construction of Apartment Community in Augusta

by Alex Tostado October 11, 2019

AUGUSTA, GA. — A joint venture between BCDC and Novare Group has broken ground on Alexander Heights, a 252-unit apartment community in Augusta. The property will offer one- and two-bedroom floor plans. Communal amenities will include a clubhouse, swimming pool, community pavilion, car care center, walking trails and a pet park. It will be located on Alexander Drive, four miles north of downtown Augusta. Texas Capital Bank provided construction financing for the property, which is slated to open in late 2020.

October 11, 2019

Development Georgia Multifamily Southeast

Joint Venture Breaks Ground on 252-Unit Apartment Complex in Athens, Georgia

by Alex Tostado October 10, 2019

ATHENS, GA. — A joint venture between Fickling & Co., Novare Group and BCDC has broken ground on Lullwater at Athens, a 252-unit apartment complex in Athens. The property will offer one- through three-bedroom floor plans. Communal amenities will include a clubhouse, swimming pool, community pavilion, car care center and a pet park. It will be located at 225 Jennings Mill Parkway, nine miles west of downtown Athens and six miles west of the University of Georgia. Lullwater at Athens is expected to open in the fourth quarter of 2020.

October 10, 2019

Georgia Leasing Activity Office Southeast

Atlanta Hawks Expands to Three Floors at 101 Marietta St. in Downtown Atlanta

by Alex Tostado October 10, 2019

ATLANTA — The National Basketball Association’s Atlanta Hawks have signed a three-story office lease with The Dilweg Cos. to occupy 53,865 square feet. The Hawks plan to renovate the space starting this month. Upgrades will include a new employee lounge and break room that will contain a full-service kitchen with a mix of seating, break-out spaces, flat-screen televisions and several other tech-infused amenities. Other plans include revamped offices for the Hawks sales team that will feature a variety of sales and training areas, open-floor layouts, socializing areas and a coffee bar. In January, WeWork signed a 100,300-square-foot lease, with company signage at the top of the building, at 101 Marietta St.

October 10, 2019

Acquisitions Georgia Office Southeast

CBRE Arranges Sale of Four-Building Office Park in Metro Atlanta

by Alex Tostado October 9, 2019

PEACHTREE CORNERS, GA. — CBRE has arranged the sale of The Corners, a four-building office park spanning 290,924 square feet. The property comprises two office buildings and two technology centers. The seller, Glenfield Capital, recently implemented a $6.8 million renovation, upgrading the lobby, common areas and electric wiring while adding a new roof and electric car charging stations. The Corners is located in Peachtree Corners, 21 miles northeast of downtown Atlanta. RealOp Investments acquired the asset for an undisclosed amount. Tom Shafer and John Hinson of CBRE represented the seller in the transaction.

October 9, 2019

Acquisitions Georgia Multifamily Southeast

FCP Acquires Portofino Apartments Near Atlanta for $19M

by Alex Tostado October 9, 2019

CLARKSTON, GA. — FCP has acquired Portofino Apartments, a 234-unit, garden-style community in Clarkston, for $19 million. The property is located at 1250 Brockett Road, 12 miles east of downtown Atlanta. Portofino Apartments offers one- through three-bedroom floor plans. Communal amenities include two swimming pools, a playground, basketball court and dog park. Wesley Kenney and Tyler Averitt of Cushman & Wakefield represented the undisclosed seller in the transaction.

October 9, 2019

Newer Posts

Older Posts