Georgia

Whole Foods Market 365 Celebrates Grand Opening of Two Atlanta Area Locations

by Alex Tostado December 13, 2018

ATLANTA — Whole Foods Market has officially opened two Atlanta-area Whole Foods Market 365 stores, one at 1555 Church St. in Decatur and the other at 3535 Northside Parkway in Atlanta’s Buckhead district. The locations mark the 11th and 12th stores in the nation for the Whole Foods brand. The two stores employ roughly 200 people combined, according to Whole Foods Market. The Decatur location, inspired by Ponce de Leon Avenue, includes Pour de Leon, a beverage, dining and gathering venue for all ages, including free classic arcade games. The Buckhead store includes the second location of Sublime Tree, a vendor that provides organic smoothies and cold-pressed juices. Coming in early 2019, both stores will feature an authentic Mexican eatery onsite — Loteria Grill from Chef Jimmy Shaw.

December 13, 2018

Conference Coverage Features Georgia Multifamily Southeast

Lower Returns is a Fact of Life for Multifamily Stakeholders, Say InterFace Speakers

by John Nelson December 13, 2018

There is no shortage of capital available to seasoned multifamily developers and investors because the property sector’s underlying real estate fundamentals remain so strong. That was one of the key takeaways of the ninth annual InterFace Multifamily Southeast, a real estate conference hosted by InterFace Conference Group and Southeast Real Estate Business. The event drew more than 400 multifamily professionals to The Whitley hotel in Atlanta on Nov. 27. Speakers during the development panel said that multifamily real estate has plenty options on both the debt and equity sides, but underwriting financing for new construction can still be a strenuous process because they aren’t seeing as high of returns as years past. “Our return thresholds are lower, that’s a fact,” said Chad DuBeau, senior managing director of Mill Creek Residential Trust. “Construction costs are high and land prices are high. The cost of capital is very reasonable, but when you put all those factors together, underwriting is just difficult.” Panel moderator Ron Cameron, senior vice president and principal of Colliers International, asked his fellow panelists a pointed question about the state of the industry. If the multifamily cycle were a game of golf, what hole is the sector currently on? …

December 13, 2018

Development Georgia Hospitality Southeast

Hilton Opens 42-Story Waldorf Astoria Atlanta Buckhead

by Alex Tostado December 11, 2018

ATLANTA — Hilton Worldwide has opened the Waldorf Astoria Atlanta Buckhead in Atlanta’s Buckhead district. The 42-story hotel is the first for the Waldorf Astoria brand in Atlanta and is situated at the former site of Mandarin Oriental Atlanta. The property features 127 rooms, 10 suites, 47 private residences, a 15,000-square-foot spa and meeting and event space. Designed by Robert A.M. Stern, the Atlanta location joins 30 other Waldorf Astoria hotels worldwide.

December 11, 2018

Georgia Industrial Leasing Activity Southeast

Ackerman & Co. Signs Logistics Firm to 100,800 SF Industrial Lease in Metro Atlanta

by Alex Tostado December 6, 2018

STONE MOUNTAIN, GA. — Ackerman & Co. has leased 100,800 square feet of space to Best Warehousing & Transportation Center Inc. (BWT) at Stone Mountain Industrial Park, located about 16 miles from downtown Atlanta. The industrial park is now 94 percent leased. Atlanta-based Ackerman & Co. was represented internally by Brett Buckner, Jimmy Stevens and Major Martin. The tenant also represented itself in the lease transaction. BWT specializes in inspecting, repairing and repackaging products that have been returned from retail reclaim centers.

December 6, 2018

Acquisitions Georgia Retail Southeast

Ackerman Retail Brokers Sale of Two Atlanta Buildings for $23M

by Alex Tostado December 5, 2018

ATLANTA — Ackerman Retail, the retail division of Atlanta-based Ackerman & Co., has brokered the sale of two retail buildings in the Atlanta’s Buckhead district. The sold portfolio includes a 27,000-square-foot property fully leased to Maggiano’s Little Italy that sold for $12.7 million and a 3,796-square-foot property fully leased to Wells Fargo Bank that sold for $10.3 million. Level 33 Capital, a private investment company bought both properties. Kevin Hermetz and Jimmy Stevens of Ackerman & Co. represented the undisclosed seller in the Maggiano’s transaction, and Sean Patrick and Stephen Lapierre, also of Ackerman & Co., represented the same undisclosed seller in the Wells Fargo transaction.

December 5, 2018

Georgia Leasing Activity Office Southeast

S.J. Collins Inks WeWork to Anchor Mixed-Use Project in Atlanta’s West Midtown District

by Alex Tostado December 5, 2018

ATLANTA — S.J. Collins Enterprises, developer of The Interlock mixed-use project, has signed WeWork as the newest tenant of the $450 million development. This will be WeWork’s sixth Atlanta location with anticipated occupancy in fall 2020. The office, dubbed WeWork Interlock, will be situated at the corner of Howell Mill Road and 14th Street in West Midtown, spanning three stories and 118,000 square feet. WeWork provides more than 320,000 members around the world with office space, community and services through both physical and digital offerings. When complete, The Interlock will offer 200,000 square feet of loft office space, 105,000 square feet of retail space, 350 apartment units, 70 single-family homes and a 145-key Marriott Tribute Portfolio hotel. Tenants previously announced include Slater Hospitality, St. Germain French Bakery and Georgia Technology Ventures. The Interlock is slated to open summer 2020.

December 5, 2018

Development Georgia Industrial Southeast

Georgia Ports Authority to Build Inland Port in Gainesville, Auto Supplier to Build 318,000 SF Distribution Center Nearby

by Alex Tostado December 4, 2018

GAINESVILLE, GA. — Georgia Ports Authority will develop a new 104-acre inland port in Gainesville. Currently, containers moving by truck travel 600 miles roundtrip to and from the Port of Savannah. When the new rail yard opens, drivers will be able to make shorter trips from area manufacturers and distribution facilities to the northeast Georgia site. The port is slated to be complete in 2021. Gainesville is located along Interstate 985, about 55 miles northeast of Atlanta. In conjunction with the port announcement, Auto Metal Direct, a distributor of auto body panels and trim for classic cars and trucks, announced it will open a 318,000 square-foot distribution and fulfillment center near the port. Construction will begin soon, and upon completion, the $15 million development will bring 40 jobs to Hall County.

December 4, 2018

Acquisitions Georgia Industrial Southeast

Uline Purchases 1 MSF Logistics Center in North Georgia for $70M

by Alex Tostado December 3, 2018

BRASELTON, GA. — Uline Inc. has purchased Braselton Logistics Center, a 1 million-square-foot distribution facility in Braselton, for $70 million. Uline bought the property as part of a purchase option in its 10-year lease from Atlanta-based Ackerman & Co., The Yates Group and JAC Real Estate Investments. Uline, which is a national shipping and business supply company, has occupied the space since it was delivered in late 2017.

December 3, 2018

Acquisitions Georgia Industrial Southeast

Monmouth Real Estate Acquires FedEx-Leased Industrial Building in Savannah for $27.8M

by Alex Tostado December 3, 2018

SAVANNAH, GA. — Monmouth Real Estate Investment Corp. has acquired a new 126,520-square-foot industrial building in Savannah for $27.8 million. The building is part of Morgan Lakes Industrial Boulevard, a property that consists of three industrial buildings on about 29 acres. Freehold Township, N.J.-based Monmouth Real Estate’s newest acquisition is net-leased to Memphis-based FedEx for 10 years. The seller was undisclosed.

December 3, 2018

Development Georgia Industrial Southeast

Wayfair to Open 1.1 MSF Industrial Facility in Savannah

by Alex Tostado November 30, 2018

SAVANNAH, GA. — Boston-based Wayfair will open a new 1.1 million-square-foot facility in Savannah, creating 1,000 jobs. New jobs will include supervisory, administrative and warehouse positions. The company and the undisclosed landlord plan to invest about $45 million in the site over the next five years. Wayfair, founded in 2002, is an e-commerce company that sells more than 10 million home goods items. This is Wayfair’s second Georgia location, joining a warehouse and distribution center in McDonough, located about 32 miles south of downtown Atlanta. Wayfair’s new facility will be situated within Savannah River International Trade Park, according to Savannah Morning News. The park is already home to distribution centers for IKEA and Target.

November 30, 2018

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