Georgia

Liberty Property Trust Signs Sugar Foods to 247,000 SF Industrial Lease in Metro Atlanta

by John Nelson March 21, 2019

LITHIA SPRINGS, GA. — Liberty Property Trust has signed Sugar Foods Corp. to a full-building, 247,000-square-foot lease at 875 Maxham Road in Lithia Springs. Located within Westfork Distribution Center, Liberty Property acquired the building in 2013 and has since made capital improvements, including creating a loop road to optimize traffic flow, expanding the truck courts and adding trailer storage to support modern logistics requirements. Randall Bryan of King Industrial Realty Inc. represented Sugar Foods in the lease transaction. Mark Hawks and Todd Barton of CBRE represented the landlord.

March 21, 2019

Development Georgia Retail Southeast

RPC to Build Publix-Anchored Shopping Center Near Atlanta

by Alex Tostado March 20, 2019

CUMMING, GA. — Retail Planning Corp. (RPC) will break ground on The Publix at Matt shopping center in Cumming. Publix will anchor the 82,000-square-foot center, with other signed leases including Great Clips, AT&T, J. Christopher’s and Nail Talk & Tan. The property will be situated at the corner of Bannister Road and Matt Highway, about 48 miles north of downtown Atlanta. RPC expects to deliver the shopping center in summer 2020.

March 20, 2019

Acquisitions Georgia Office Southeast

ESJ Capital Partners Acquires Office Park in Metro Atlanta for $24.3M

by Alex Tostado March 19, 2019

KENNESAW, GA. — ESJ Capital Partners LLC has acquired Barrett Business Center, a four-building, 187,373-square-foot office park located at 2015 Vaughn Road in Kennesaw, for $24.3 million. The Miami-based firm plans to invest more than $1 million in capital improvements, focusing mainly on updating the park’s common areas and business systems. The seller, Pope & Land Real Estate, which originally developed the asset between 1999 and 2008, has been retained by ESJ to continue property management and leasing. The property was 92 percent leased at the time of the sale to tenants including Airgas and CarMax. MetLife provided acquisition financing. Justin Parsonnet and Ryan Reethof of CBRE represented the seller in the transaction.

March 19, 2019

Development Georgia Industrial Southeast

Duke Realty to Develop 194,120 SF Industrial Facility for Logistics Firm in Savannah

by Alex Tostado March 19, 2019

SAVANNAH, GA. — Duke Realty is developing a 194,120-square-foot build-to-suit facility for Schilli Distribution Services, a logistics services provider, in Savannah. Schilli has entered into a long-term lease for the facility, which will sit on 12.1 acres at 276 Jimmy Deloach Parkway, about four miles west of Port of Savannah. Delivery is expected by this summer. Accessible via a CSX rail spur, the facility will include 32-foot clear heights, 43 nine-by-10-foot dock doors and two 12-by14-foot drive-in doors. Bob Luttrell and Ken Boyd with Newmark Frank Knight represented Schilli in the lease transaction while Duke Realty was represented internally by Brian Sutton.

March 19, 2019

Georgia Loans Multifamily Southeast

Greystone Bassuk Arranges $36.5M Loan for Apartment Development in Atlanta’s Grant Park

by Alex Tostado March 15, 2019

ATLANTA — Greystone Bassuk has arranged a $36.5 million construction-to-permanent loan on behalf of an affiliate of Grubb Properties Inc. for Link Apartments Grant Park in Atlanta. Aegon Real Assets US, through its correspondent Bellwether Enterprise, provided the 20-year, fixed-rate loan. Located at 750 Kalb St. S.E. in Atlanta’s Grant Park neighborhood, the five-story, 246-unit community will offer amenities such as a clubhouse, game room, fitness center, yoga center, outdoor terrace, 265-space parking deck and a pedestrian esplanade. Matthew Hirsch and Paul Fried led the Greystone Bassuk team in arranging the loan transaction. Greystone Bassuk is a joint venture formed in 2012 between Greystone and The Bassuk Organization, an investment banking service in in New York Tri-State area.

March 15, 2019

Georgia Hospitality Loans Southeast

HFF Arranges $31M Refinancing of Hotel in Atlanta’s Cumberland/Galleria District

by Alex Tostado March 13, 2019

ATLANTA — HFF has arranged a $31 million refinancing loan for Sheraton Suites Galleria-Atlanta, a 278-room hotel in Atlanta’s Cumberland/Galleria submarket. Danny Kaufman, Jeff Bucaro Nicole Aguiar and Matt Casey of HFF represented the borrower, Olshan Properties, in the loan transaction. Loan proceeds will be used to retire the existing loan, repatriate sponsor equity and cover closing costs and financing fees. Olshan Properties acquired the asset in August 2013 and has since invested more than $11 million into renovating guestrooms, corridors and the lobby; adding a Sheraton Club Lounge and Grab-and-Go outlet; and modernizing elevators. The owners plan to use the loan to make further improvements by upgrading meeting space, building exterior and the food and beverage outlets, The Grill and Martini’s Bar. The asset is situated at 2844 Cobb Parkway in northwest Atlanta, about a mile south of SunTrust Park, home of the Atlanta Braves.

March 13, 2019

Acquisitions Georgia Retail Southeast

HFF Arranges Sale of 105,847 SF Retail Center in Metro Atlanta

by Alex Tostado March 12, 2019

MARIETTA, GA. — HFF has arranged the sale of Olde Mill Plaza, a 105,487-square-foot retail center in Marietta, to Livingston Properties. Olde Mill Plaza is located at 3101 Roswell Road, 20 miles northwest of downtown Atlanta. The asset was 91 percent leased at the time of the sale to tenants including Walmart Neighborhood Market, Just Fitness 4U, Los Arcos Mexican restaurant, European Deli, Le Nails Spa2, K&G Tailors, Roxy Package Store and House of Ming. Outparcel tenants include McDonald’s and RaceTrac. The sales price was not disclosed.

March 12, 2019

Georgia Loans Office Southeast Walker & Dunlop

Walker & Dunlop Arranges $44.3M Refinancing Loan for Office Park in Metro Atlanta

by Alex Tostado March 11, 2019

MARIETTA, GA. — Walker & Dunlop Inc. has arranged a $44.3 million refinancing loan for Marietta Technology Center, a 347,500-square-foot office park in Marietta. Mark Strauss and Rob Quarton of Walker & Dunlop represented the borrowers, Praelium Commercial Real Estate and South Street Partners, in arranging the seven-year, fixed-rate loan with interest-only payments. The refinancing covers the asset’s four, single-story buildings, which were built between 1983 and 1985. The office park is situated at 2161 New Market Park Way, about 16 miles northwest of downtown Atlanta.

March 11, 2019

Development Georgia Industrial Southeast

FedEx Ground Opens 160,000 SF Industrial Facility Today in Metro Savannah

by Alex Tostado March 7, 2019

POOLER, GA. — FedEx Ground has opened a 160,000-square-foot large package processing facility located at 505 Morgan Lakes Industrial Blvd. in Pooler, about 15 miles west of downtown Savannah and about nine miles west of Port of Savannah. The new facility will be a standalone building, making it the first operation of its kind. FedEx Ground expects the facility to house 400 employees with the potential to expand as demand for service grows. The daily volume of packages that FedEx Ground handles has more than doubled in the past 10 years, and large packages now comprise more than 10 percent of the company’s package volume. The new property is part of FedEx’s plan to enter 17 major hubs and add or expand 500 facilities since 2005.

March 7, 2019

Development Georgia Retail Southeast

JWA Ventures to Develop Publix-Anchored Shopping Center in Macon, Georgia

by Alex Tostado March 7, 2019

MACON, GA. — JWA Ventures, a division of Jim Wilson & Associates, has announced plans to develop a 15-acre, Publix-anchored shopping center in Macon. Tobesofkee Crossing will span 68,000 square feet, with Publix occupying 48,000 square feet. JWA Ventures expects to lease the center’s remaining inline space to service retailers and restaurants. Two additional freestanding sites are available for development. Construction is expected to begin in the second quarter of this year with delivery anticipated for second-quarter 2020. The asset will serve as the gateway to Macon’s Tobesofkee community, which is anchored by the 1,800-acre Lake Tobesofkee. A spokesperson for Publix says the grocer will employ 120 to 150 people at the new Macon location.

March 7, 2019

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