Georgia

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

Acquisitions Georgia Office Southeast

Coldwell Banker Brokers Sale of 140,800 SF Office Building in Downtown Macon, Georgia

by Alex Tostado August 13, 2019

MACON, GA. — Coldwell Banker Commercial Eberhardt & Barry Inc. has brokered the sale of a 140,800-square-foot office building in downtown Macon that used to house the Macon Telegraph, a local newspaper. In 2004, producer, publisher and owner of the Macon Telegraph, Macon Telegraph Publishing Co., moved the newspaper’s production process to Columbus, Ga. While some employees relocated at the time, the remaining employees relocated to the former Bank of America Building in 2014. The building is located at 120 Broadway St. A local investor bought the property and intends to lease it for various business uses. The McClatchy Co., which bought the Macon Telegraph in 2006, was the seller. The sales price was not disclosed.

August 13, 2019

Acquisitions Georgia Office Southeast

CBRE Arranges $19M Sale of Office Building in Atlanta’s Cumberland-Galleria Area

by Alex Tostado August 13, 2019

ATLANTA — CBRE has arranged the $19 million sale of 3301 Windy Ridge, a six-story, 106,574-square-foot office building within Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. The property is located near The Battery Atlanta and SunTrust Park, home to Major League Baseball’s Atlanta Braves. 3301 Windy Ridge was 98 percent leased to a diverse tenant roster at the time of sale. Individuals Christian Lopez and Jeff Lopez acquired the property from a joint venture between Greenstone Partners and RSF Partners. Tom Shafer and John Hinson of CBRE represented the seller.

August 13, 2019

Acquisitions Georgia Industrial Southeast

IDI Logistics Sells 750,000 SF Industrial Building in Central Georgia to Five Below

by Alex Tostado August 12, 2019

FORSYTH, GA. — IDI Logistics has sold a 750,000-square-foot, build-to-suit industrial facility to Five Below in Forsyth. The new building, which IDI delivered in May, features 40-foot clear heights. This was the first building delivered within IDI’s Meridian 75 Logistics Center, a 250-acre industrial park located about 60 miles south of downtown Atlanta. Five Below has occupied the entire distribution facility since it opened. Founded in 2002, Philadelphia-based Five Below is a national retailer that sells products that cost $5 or less. Bob Robers and Pat Murphy of Cushman & Wakefield represented IDI Logistics in the transaction. Mark Sims, Ray Stache and Lisa Pittman of Cushman & Wakefield represented Five Below. The sales price was not disclosed.

August 12, 2019

Company News Georgia Lee & Associates Southeast

Mark Hollan of Lee & Associates Dies at Age 61 Due to Complications from Cancer

by Alex Tostado August 9, 2019

ATLANTA — Mark Hollan, executive vice president, principal and founding partner with the Atlanta office of Lee & Associates, died July 27 due to complications from cancer. Hollan was 61. In his 35-year commercial real estate career, Hollan racked up more than $300 million in transaction history. While at Lee & Associates in Atlanta, Hollan garnered the title of the firm’s top broker 12 times and finished in the top five 25 times. Hollan also earned numerous industry awards including Atlanta Commercial Board of Realtors (ACBR) Top Land Broker and an ACBR Million Dollar Club member (20-plus years). “Mark’s business acumen and work ethic were not only an integral part of the firm’s financial success, but also contributed to the achievements of many younger associates, and to the friendly and supportive culture of our corporate environment,” says Dick Bryant, president and CEO at Lee & Associates’ Atlanta office. “His legacy lives on at Lee & Associates — Atlanta.”

August 9, 2019

Acquisitions Georgia Office Southeast

Colliers Arranges $24.8M Sale of Office Building in Midtown Atlanta

by Alex Tostado August 8, 2019

ATLANTA — Colliers International has arranged the $24.8 million sale of Midtown Atlanta’s Silhouette, a 10-story office building. Silhouette, known for the silhouettes of people painted on the side, is located at 1447 Peachtree St. Amenities include a renovated lobby and HVAC system, access to public transit and two electric car charging stations. Silver Spirit, a company that helps startup businesses, acquired the property. Colliers has been retained to handle leasing efforts on behalf of the new owner. Hayes Swann and Aman Gaur of Colliers represented the seller, Dau Global, in the transaction.

August 8, 2019

Acquisitions Georgia Healthcare Southeast

Regional Health Properties Sells Three Skilled Nursing Facilities Nationwide for $24.1M

by Alex Tostado August 8, 2019

SUWANEE, GA. — Suwanee-based Regional Health Properties (RHP) has sold three of four skilled nursing properties located in Oklahoma, Alabama and Georgia to affiliates of MED Healthcare Partners. The four-property transaction was previously disclosed by RHP in April. The three properties were sold for $26.1 million in a cash deal. RHP and MED agreed to extend the closing date on the fourth property located in Oklahoma to Sunday, Aug. 18. RHP used the cash proceeds from the sale to pay approximately $1 million in outstanding interest, fees and other costs and to repay $24.7 million in debt, which was secured by the four skilled nursing facilities, subject to the purchase and sale agreement. As a result of such repayment, RHP has paid back all debt owing to Pinecone Realty Partners II and Congressional Bank. For a period of three months following the repayment, Pinecone will continue to hold a right of first refusal to provide first mortgage financing for any acquisition of a healthcare facility by RHP and an exclusive option to refinance the company’s existing first mortgage loan on RHP’s Coosa Valley Health Care facility.

August 8, 2019

Acquisitions Georgia Multifamily Southeast

Joint Venture Acquires 232-Unit Apartment Complex in Metro Atlanta

by Alex Tostado August 6, 2019

MCDONOUGH, GA. — A joint venture between Providence Real Estate LLC and a global insurance and investment company that has been in operation for more than 100 years has acquired Sundance Creek Apartments, a 232-unit complex in McDonough. The sales price was not disclosed. Sundance Creek is situated at 575 McDonough Parkway, about 30 miles south of downtown Atlanta. The property comprises 26 two-story townhome buildings, 24 detached garages and 32 storage units. Communal amenities include a swimming pool, cabana, clubhouse, picnic area, fitness center and a business center. The seller was not disclosed.

August 6, 2019

Acquisitions Georgia Multifamily Southeast

Taurus Investment Acquires 192-Unit Apartment Complex in Atlanta

by Alex Tostado August 5, 2019

ATLANTA — Taurus Investment Holdings LLC has acquired 251 North, a 192-unit multifamily community at the juncture of Atlanta’s Old Fourth Ward and Midtown. Located at 300 Cityline Ave. NE, 251 North offers one- and two-bedroom floor plans. Communal amenities include a swimming pool, outdoor grilling station, cardio-based fitness center, 24-hour laundry facility and covered parking. 251 North was 93 percent occupied at the time of sale. HFF, a JLL company and member of Freddie Mac’s Optigo lending network, provided a 10-year, $24.9 million acquisition loan with a floating interest rate through the agency’s Green Advantage program. Details of the buyer’s renovation plans and the sales price were not disclosed.

August 5, 2019

Acquisitions Georgia Multifamily Southeast Top Stories

RSE Capital, Carter Multifamily Acquire Georgia Apartment Portfolio for $202.5M

by Taylor Williams August 5, 2019

GEORGIA — A joint venture between Washington, D.C.-based RSE Capital Partners and Tampa-based Carter Multifamily has acquired a portfolio of 11 apartment communities located across five cities in Georgia for $202.5 million. The seller was Savannah-based Kole Management. The new ownership will undertake a capital improvement program that will upgrade the properties’ unit interiors and amenity space. In announcing the value-add deal, the joint venture cited the strong job growth that is occurring throughout Georgia and the limited supply of quality workforce housing as the key driving forces behind the acquisition. The portfolio totals 1,966 units in the Class B and C spaces. Specifically, three of the properties totaling 438 units are in Savannah; three communities featuring 382 units are in Garden City; three assets comprising 716 units are in Macon; one property totaling 240 units is in Canton; and one community featuring 200 units is in Augusta. The Savannah properties were all built between 1969 and 1978 and feature amenities such as pools and playgrounds. Each of the Garden City communities was built in the late 1980s and offers amenities such as pools, playgrounds, sport courts and fitness centers. Garden City is located along the eastern coast near Savannah. …

August 5, 2019

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