Georgia

Community Involvement is Necessary for Successful Mixed-Use Projects, Says InterFace Panel

by John Nelson August 26, 2019

It’s not just a good idea for real estate developers to engage the surrounding community as part of their due diligence: It’s essential. While on stage at the close of the InterFace Southeast Mixed-Use conference, some of the Southeast’s most prolific mixed-use developers and owners say community involvement can be the difference between success and failure. “Nowadays, if you want a successful mixed-use project, you have to get in deep with the community and all the stakeholders — whether it’s adjacent landowners, homeowners associations, NPUs [neighborhood planning units] or local architecture committees,” said Jeff Garrison, development partner at S.J. Collins Enterprises, an Atlanta-based commercial real estate developer. “We conducted 50 meetings for The Interlock project before we even submitted for zoning. It’s overboard, but that’s what makes it successful.” The Interlock is an upcoming $450 million mixed-use development in Atlanta’s popular West Midtown district. S.J. Collins recently inked WeWork to lease three stories of its office tower, which will also have Georgia Tech as an anchor. Garrison says that the project’s 145-room Marriott Tribute Portfolio hotel was a direct result of feedback that his team heard from the community. “We didn’t have a hotel in our original design,” said Garrison. …

August 26, 2019

Georgia Leasing Activity Retail Southeast

North American Properties Reveals First Retailers Joining $900M Mixed-Use Development in Metro Atlanta

by Alex Tostado August 23, 2019

DULUTH, GA. — North American Properties (NAP) has revealed its first retail tenant lineup at Revel, its $900 million, Infinite Energy Center-anchored mixed-use development in Duluth. The first nine tenants announced at the Gwinnett County project include Superica, a Tex-Mex restaurant run by restaurateur Ford Fry; Regal Cinemas; The Painted Pin, which will be the second location for the bowling, entertainment and bar concept; JINYA Ramen Bar; American Barber; Secreto, chef Boyd Rose’s concept serving Southern cuisine; The Local Expedition Wood Fired Grill; Maker’s Coffee & Wine; and Honeysuckle Gelato. The development will span 118 acres and will offer 300,000 square feet of curated retail, dining and entertainment; 650,000 square feet of office space; a 340-room, 4-star hotel; 900 single-family and multifamily residences; and 275,000 square feet of community greenspace. NAP is also redeveloping Infinite Energy Center, which includes Infinite Energy Arena, Forum and Theater. NAP is developing Revel through a public-private partnership with the Gwinnett County Convention and Visitors Bureau. A timeline for completion was not disclosed.

August 23, 2019

Georgia Loans Multifamily Southeast

Preferred Apartment Communities Arranges $14.8M Construction Loan for Multifamily Community in Metro Atlanta

by Alex Tostado August 22, 2019

KENNESAW, GA. — Preferred Apartment Communities has arranged a $14.8 million construction loan on behalf of Newport Development Partners for Kennesaw Crossing. The 250-unit multifamily community will be located in Kennesaw as part of Eastpark Village, which Sanctuary Cos. and Vardon Partners are co-developing. Eastpark Village is located about 28 miles northwest of downtown Atlanta and a few blocks south of historic downtown Kennesaw. A timeline for completion was not disclosed.

August 22, 2019

Acquisitions Development Georgia Industrial Office Southeast

MidCity, Anchor Capital Acquire 42,500 SF Industrial Building in Metro Atlanta, Plan to Reposition to Office

by Alex Tostado August 21, 2019

CHAMBLEE, GA. — A joint venture between MidCity Real Estate Partners and Anchor Capital Partners has acquired 5616 Peachtree, a 42,500-square-foot industrial building in downtown Chamblee. The owners plan to immediately begin construction to reposition the building into a 36,500-square-foot office building. The asset will be extensively renovated with all new base building features and new tenant interiors. Winter Construction will serve as the general contractor for the renovations, and will occupy half of the building upon completion. The joint venture expects the building will be move-in ready in February 2020. Patterson Real Estate Advisory Group arranged a construction loan and equity financing on behalf of the borrowers. First Citizens Bank provided the construction loan. The joint venture paid $3.5 million for the existing industrial building. The building is located two blocks from the $2 billion Assembly Yards in Doraville and 18 miles northeast of downtown Atlanta.

August 21, 2019

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Negotiates Sales of Two Apartment Communities South of Atlanta for $73.9M

by Alex Tostado August 20, 2019

MCDONOUGH AND STOCKBRIDGE, GA. — Cushman & Wakefield has negotiated the sales of Stonegate at Eagles Landing in Stockbridge and Mandalay Villas in McDonough. Mike Kemether, Travis Presnell and Alex Brown of Cushman & Wakefield represented the seller, Bluedog Capital Partners, in the transactions. The RADCO Cos. acquired Stonegate at Eagles Landing, a 167-unit community that was built in 2006, for $25.1 million. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a swimming pool, fitness center, clubhouse, house-sitter services, playground and a car wash area. Rockworth Acquisitions bought Mandalay Villas, a 300-unit property, for $48.8 million. Mandalay Villas offers one- through three-bedroom floor plans. Community amenities include a fitness center, playground, swimming pool, game room, clubhouse and a business center.

August 20, 2019

Acquisitions Georgia Office Southeast

Savlan Capital Acquires Six Office Buildings in Atlanta for $33.2M

by Alex Tostado August 19, 2019

ATLANTA — Savlan Capital has acquired six office buildings totaling 289,433 square feet within Camp Creek Business Center, a 400-acre business park in south Atlanta. Hollywood, Fla.-based Savlan bought the property from Indianapolis-based Duke Realty for $111.25 per square foot. The office buildings are located at 1000, 1100, 1200, 1400, 1800 and 2000 Centre Parkway, five miles west of Hartsfield-Jackson Atlanta International Airport. Duke Realty is developing Camp Creek, which comprises 2.9 million square feet of existing industrial and office buildings with the capacity for an additional 2 million square feet of development. The six buildings were 79 percent leased at the time of sale to tenants including Sto Corp., DoverStaffing, Hopebridge, Jaguar Land Rover Automotive North America, Keller Williams and Primerica.

August 19, 2019

Development Georgia Retail Southeast

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

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