Georgia

Griffin Capital Acquires 1 MSF Distribution Center in Savannah for $56.5M

by Camren Skelton May 9, 2018

SAVANNAH, GA. — Griffin Capital Essential Asset REIT Inc., an entity co-sponsored by Griffin Capital Co. LLC, has acquired Shaw Distribution Center – Northport Building C in Savannah for $56.5 million. The more than 1 million-square-foot facility is fully leased to Shaw Industries Inc., one of the largest flooring manufacturers in the country and a wholly owned subsidiary of Berkshire Hathaway Inc. The build-to-suit property was completed in March. Shaw Distribution Center is located less than seven miles from the Port of Savannah.

May 9, 2018

Development Georgia Industrial Southeast

Core5 to Build $52M Industrial Facility, Corporate Headquarters for Beverage Distributor in Metro Atlanta

by Camren Skelton May 4, 2018

AUSTELL, GA. — Atlanta-based Core5 Industrial Partners has unveiled plans to construct a 601,350-square-foot build-to-suit facility for Empire Distributors at 685 Hartman Road in Austell, roughly 18 miles west of Atlanta. Total project costs are estimated at more than $52 million. Upon completion of the property in the fourth quarter, the beverage distributor will relocate to the new facility from its current 300,000-square-foot location at Atlanta Industrial Park. The new climate-controlled facility will house Empire’s corporate headquarters and regional distribution operations, and will include 80,000 square feet of two-story office space. Empire will move more than 440 employees to the new facility, with anticipated growth to more than 510 employees within 10 years. Randall Paulson Architects and Southeast Engineering Inc. are designing the building, Plateau Excavating is the site work contractor, and KBDG Inc. is the general contractor. Bilijack Bell of Wilson, Hull & Real Estate represented Core5 in the land acquisition, and Blaine Kelley of CBRE represented Empire in the acquisition of the facility.

May 4, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

Marcus & Millichap Arranges $19.4M Sale of Self-Storage Property in Metro Atlanta

by Camren Skelton May 4, 2018

ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along Alpharetta Highway.

May 4, 2018

Acquisitions Georgia Retail Southeast

HFF Brokers Sale of 103,711 SF Kroger-Anchored Center in Metro Atlanta

by Camren Skelton May 2, 2018

ACWORTH, GA. — HFF has brokered the sale of Cherokee Commons, a 103,711-square-foot shopping center in Acworth, roughly 30 miles northwest of Atlanta. Jim Hamilton, Brad Buchanan, Michael Allison and Ryan Stoffer of HFF arranged the transaction on behalf of the seller, PMAT Cos. Collett Capital acquired the asset for an undisclosed price. Kroger anchors Cherokee Commons, which was 89 percent leased at the time of sale.

May 2, 2018

Acquisitions Georgia Retail Southeast Tennessee

PAC Acquires Two Publix-Anchored Centers in Atlanta, Nashville Metros

by Camren Skelton May 1, 2018

ACWORTH, GA. AND GALLATIN, TENN. — Preferred Apartment Communities (PAC) has acquired two Publix-anchored shopping centers totaling 139,000 square feet in Acworth and Gallatin. Atlanta-based PAC acquired the portfolio through its wholly owned subsidiary, New Market Properties. The name of the seller and sales price were not disclosed. In Acworth, PAC acquired Governors Towne Square, which is located roughly 32 miles northwest of Atlanta. In Gallatin, a suburb located 30 miles northeast of Nashville, PAC acquired Greensboro Village.

May 1, 2018

Development Georgia Retail Southeast

Halpern Enterprises to Deliver Phase II of Mixed-Use Project in Metro Atlanta

by Camren Skelton April 26, 2018

SMYRNA, GA. — Halpern Enterprises Inc. has broken ground on the second phase of The Shops at Belmont, a 47,593-square-foot retail center located at the intersection of Atlanta and Windy Hill roads in Smyrna, roughly 17 miles northwest of downtown Atlanta. The shopping center is part of Halpern Enterprises’ 48-acre Belmont mixed-use development. Phase II of The Shops at Belmont will feature 12,000 square feet of retail space. Australian fitness brand F45 Training will occupy 2,400 square feet at the development for its fourth metro Atlanta studio, and organic dining concept Real Subs Café & Deli will occupy 2,100 square feet. Both tenants are expected to open this fall. The first phase of The Shops at Belmont was completed in 2016 and houses tenants such as Creatwood Tavern, Opa Greek Village, Cielo Mexican Grill, N’Style Barber Shop, Hearing Solutions, Sprint and J. Christopher’s. The Belmont mixed-use development includes residential, healthcare and education components, including Belmont Physicians Center, a 30,000-square-foot medical office building anchored by Emory Healthcare; Village of Belmont, a single-family residential community; 400 Belmont, a 274-unit apartment community; and Smyrna Elementary School.

April 26, 2018

Development Georgia Mixed-Use Southeast

Knotting, Ardent Break Ground on 35-Acre Adaptive Reuse Project in Athens, Georgia

by Camren Skelton April 25, 2018

ATHENS, GA. — Knotting Development, in partnership with the Ardent Cos., has broken ground on General Time Athens, an adaptive reuse project at the former Westclox Building in Athens. The first phase of the project will revitalize the 100,000-square-foot warehouse of the former clock manufacturer, located at 100 Newton Bridge Road, roughly two miles from the University of Georgia (UGA) campus. Terrapin Beer Co. will anchor the project, leasing 68,000 square feet of warehouse space. The Athens-based brewery has been situated across the street from the site for 11 years. Phase II of General Time Athens will include environmental remediation, as well as demolishing and rebuilding the original 250,000-square-foot Westclox manufacturing building. The space will house offices, shops and restaurants. In addition, the project will house residential units and a 3,000-seat music venue that will host beer and wine festivals, recreational events, movie nights and other community events. Charlottesville, Va.-based Red Light Management is developing the music venue in partnership with Knotting and Ardent. Headed by UGA graduate Michael Dinerman and Jennifer Davidson, Knotting Development worked closely with the Athens Clarke County (ACC) Commissioners, ACC Economic Development, ACC Leisure Services, small business owners and the surrounding community to curate the …

April 25, 2018

Georgia Industrial Loans Southeast

HFF Arranges $11M Construction Loan for 281,025 SF Industrial Project in Metro Atlanta

by Camren Skelton April 25, 2018

FAIRBURN, GA. — HFF has arranged an $11 million construction loan for the development of Graham Logistics Center, a 281,025-square-foot industrial building in Fairburn. The property is situated on 25.7 acres at 7375 Graham Road, roughly 20 miles southwest of downtown Atlanta. Gregg Shapiro and Matthew Beam of HFF arranged the four-year, non-recourse, floating-rate loan through Brand Bank on behalf of the borrower and developer, Stream Realty Partners. Upon completion, Graham Logistics Center will be divisible into four suites with separate entrances and office space, and will feature 32-foot clear heights and rear loading doors. Stream Realty Partners expects to wrap up construction on the facility in 11 months.

April 25, 2018

Georgia Loans Multifamily Southeast Student Housing

NorthMarq Secures $6.4M Acquisition Loan for Student Housing Community in Milledgeville, Georgia

by Camren Skelton April 25, 2018

MILLEDGEVILLE, GA. — NorthMarq Capital has arranged a $6.4 million acquisition loan for Prospect Milledgeville, a 141-bed student housing community in Milledgeville. The community is located less than a mile from Georgia College & State University, Georgia Military College and downtown Milledgeville. Lee Weaver of NorthMarq’s Tampa office arranged the 12-year loan with a 30-year amortization schedule on behalf of the undisclosed borrower. Prospect Milledgeville features a resort-style pool, 24-hour fitness center, clubhouse with a grilling station and on-site management.

April 25, 2018

Georgia Industrial Leasing Activity Southeast

Core5 Signs Supply Chain User to 1.2 MSF Industrial Lease in Southwest Atlanta

by Camren Skelton April 24, 2018

ATLANTA — Atlanta-based Core5 Industrial Partners has signed Saddle Creek Logistics Services to a 1.2 million-square-foot lease at Southwest 85 Logistics Center, an industrial building under construction in southwest Atlanta. Saddle Creek, a provider of supply chain solutions for retailers, manufacturers and e-commerce companies, will use the new space to provide distribution services on behalf of a home improvement retailer for its Southeast locations. Core5 expects to wrap up construction on the facility this summer. Ladson Montgomery of Newmark Grubb Phoenix Realty Group and Dave Watson of Newmark Knight Frank represented Saddle Creek in the lease negotiations. The transaction marks the largest industrial lease signed to date in the Atlanta region, according to Core5. Southwest 85 Logistics Center will feature 40-foot clear heights, more than 590 trailer spaces and 200 auto parking spaces.

April 24, 2018

Newer Posts

Older Posts