Georgia

CBRE Arranges $188.3M in Acquisition Financing for 1.9 MSF Industrial Portfolio in Atlanta, Nashville

by Kristin Harlow October 23, 2024

ATLANTA AND NASHVILLE, TENN. — CBRE has arranged $188.3 million in acquisition financing for a 24-building industrial portfolio totaling 1.9 million square feet in metro Atlanta and Nashville. Philadelphia-based Stoltz Real Estate Partners was the borrower. The previous owner was not disclosed. The properties range in size from 12,600 to 222,683 square feet and were built between 1974 and 1998. The portfolio was 93 percent leased at the time of sale to 80 tenants with a weighted average lease term of 3.6 years. The 17 Atlanta-area assets total a little over 1 million square feet and are situated in last-mile locations. The Atlanta market offers industrial users convenient access to I-75, I-85, I-20 and the Hartsfield-Jackson Atlanta International Airport. Additionally, the Port of Savannah is approximately 250 miles away. The seven Nashville properties total 866,053 square feet and are home to 15 tenants. The Nashville market offers convenient access to 24 states and is situated within a one-day truck drive of 75 percent of U.S. markets, according to CBRE. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE arranged the financing through Starwood Property Trust. Loan terms were not provided. Stoltz currently owns and manages approximately 16 million …

October 23, 2024

Development Georgia Southeast Student Housing

Toll Brothers Campus Living Completes $91M Student Housing Development Near Georgia Tech

by John Nelson October 21, 2024

ATLANTA — Toll Brothers Campus Living has completed Kinetic, a $91 million student housing development located near the Georgia Institute of Technology (Georgia Tech) campus in Midtown Atlanta. US Bank provided construction financing for the 752-bed project, which broke ground in July 2022. The community offers 239 fully furnished units with bed-to-bath parity in one- through five-bedroom configurations. Shared amenities include study lounges with private and collaborative workspace; a high-tech content studio; coffee bar; community room with a large-screen TV; e-sports lounge; social lounges; and a fitness center with modern equipment and a sauna. Kinetic also features a sky lounge on the 34th floor with a swimming pool and an outdoor courtyard with grills and rooftop dining space.

October 21, 2024

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Game Show Challenge to Open 3,889 SF Entertainment Venue at Lee + White in Atlanta

by John Nelson October 21, 2024

ATLANTA — Entertainment retail concept The Game Show Challenge has signed a 3,889-square-foot lease at Lee + White, an adaptive reuse development located in the West End of Atlanta. Kelly Wilson of Ackerman Retail arranged the lease on behalf of the developers, Ackerman & Co. and MDH Partners. Located in Building 1000, the space will feature two studios with interactive games. The venue is scheduled to open later this year and marks the third location for The Game Show Challenge, which also operates outposts in Columbia and Greenville, S.C. Ackerman & Co. and MDH Partners acquired the Lee + White mixed-use property, which totals 442,562 square feet, in 2019. The latest phase of development includes a food hall, creative office space, retail space and a “Great Lawn” with gathering and event space.

October 21, 2024

Florida Georgia Loans Louisiana North Carolina Retail South Carolina Southeast

BWE Arranges Financing for 104-Property Circle K Retail Portfolio in the Sun Belt

by John Nelson October 18, 2024

IRVINE, CALIF. — BWE has arranged a $45.5 million loan for the financing of a Circle K portfolio across six states in the Sun Belt. Located in Arizona, Florida, Georgia, Louisiana, North Carolina and South Carolina, the portfolio comprises 104 single-tenant convenience store and gas station properties. Tom Kenny and Josh Boehling of BWE’s Irvine, Calif., office arranged the loan through a life insurance company on behalf of the undisclosed borrower. The five-year, fixed-rate financing features interest-only payments and a five-year extension option.

October 18, 2024

Affordable Housing Development Georgia Multifamily Seniors Housing Southeast

Swinerton Breaks Ground on $16.4M Mixed-Income Multifamily Project in Metro Atlanta

by John Nelson October 18, 2024

RIVERDALE, GA. — General contractor Swinerton has broken ground on Hearthside Riverdale, a $16.4 million multifamily project in Riverdale\. Swinerton is completing the construction on behalf of the developer, OneStreet Residential. Situated on 2.6 acres roughly 15 miles south of Atlanta, the community will feature 70 one- and two-bedroom apartments, with 12 units rented at market rates and 58 units reserved as affordable housing for senior residents earning at or below 60 percent of the area median income (AMI). Amenities at the property will include a community room, laundry room, fitness center, garden bed and pet-friendly features. Completion is scheduled for early 2026.

October 18, 2024

Civic Development Georgia Southeast Top Stories

Development Team Plans Renovation, Expansion of Cobb Galleria Centre in Atlanta

by John Nelson October 17, 2024

ATLANTA — The Cobb-Marietta Coliseum and Exhibit Hall Authority, owner and operator of the Cobb Galleria Centre in Atlanta, has selected a team of locally based firms to manage the expansion and renovation of the convention center. Impact Development Management will serve as the authority’s representative and project manager for the overhaul, Rule Joy Trammell + Rubio will serve as the project architect and Holder Construction will be the construction manager. The development team plans to break ground on the project in fall 2025, with completion slated for early 2027. The Cobb Galleria Centre was originally built by the authority in 1994. The facility currently totals 320,000 square feet, including 144,000 square feet of exhibit space, a 25,000-square-foot ballroom, 20 meeting rooms and four executive boardrooms. Also on the campus is Galleria Specialty Shops, an enclave of small retail shops that currently houses tenants including HOKA Shoes and a Subway kiosk. The master plan for the expansion project includes: Cobb Galleria Centre is centrally located near the intersection of I-75 and I-285 in Atlanta’s Cumberland-Galleria submarket. The convention center is connected via two elevated walkways to Simon’s Cumberland Mall and The Battery Atlanta, the mixed-use village surrounding Truist Park, home of the Atlanta …

October 17, 2024

Acquisitions Development Georgia Industrial Southeast

Dermody Properties Acquires 61,000 SF Logistics Facility Near Atlanta, Plans 93,320 SF Addition

by John Nelson October 14, 2024

SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.

October 14, 2024

Acquisitions Georgia Multifamily Southeast

GREA Brokers $36.7M Sale of Aqua Sandy Springs Apartment Community in Metro Atlanta

by John Nelson October 14, 2024

SANDY SPRINGS, GA. — Global Real Estate Advisors (GREA) has brokered the $36.7 million sale of Aqua Sandy Springs, an apartment community located at 100 Greyfield Lane in Sandy Springs, roughly 15 miles outside Atlanta. An entity doing business as Sandy Springs Residences II LLC acquired the property from an entity doing business as 29SC RN Property Owner LLC. Chandler Brown, Cory Sams and Taylor Brown of GREA represented the seller in the transaction. Built in 1985 and 2000, Aqua Sandy Springs features 219 units in one-, two- and three-bedroom floorplans. The new owner plans to implement a value-add program at the property, which is situated near Atlanta’s Central Perimeter district, downtown Roswell and Alpharetta.

October 14, 2024

Acquisitions Georgia Self-Storage Southeast

Storage Acquisition Group Purchases 911-Unit Self-Storage Facility in Conyers, Georgia

by John Nelson October 10, 2024

CONYERS, GA. — The Storage Acquisition Group (TSAG) has purchased a 911-unit self-storage facility located at 4489 McDonough Highway in Conyers, about 30 miles southeast of Atlanta. The 76,125-square-foot asset was the final facility of TSAG’s 18-property portfolio purchase from True Self Storage that spans 13,714 units across 10 states. The sales price was not disclosed. Bill Sitar Jr., John Cranley, Andrew Burachinsky and Monty Spencer led TSAG’s acquisition team on an internal basis.

October 10, 2024

Georgia Industrial Leasing Activity Southeast

Kumho Tire Fully Leases 428,160 SF Industrial Facility in McDonough, Georgia

by John Nelson October 9, 2024

MCDONOUGH, GA. — Atlanta-based tire manufacturer Kumho Tire USA has fully leased 210 Interstate South Drive, a 428,160-square-foot cross-dock industrial facility located in the south Atlanta suburb of McDonough. Price Weaver and Hooper Wilkinson of Colliers represented the tenant in the lease negotiations. Bob Currie, Brad Pope, Reed Davis and Hannah Dillard of JLL represented the landlord, Dermody Properties. The distribution center is located less than one mile from I-75 and 24 miles from Hartsfield-Jackson Atlanta International Airport. The facility features 28-foot clear heights, 101 dock-high doors, 147 trailer storage spaces and ESFR sprinklers. The property was built in 2000, according to LoopNet Inc.

October 9, 2024

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