JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth project four years ago, Alcon has expanded the size of its manufacturing facility by 70,000 square feet. The multi-year project will expand the company’s production capacity for DAILIES TOTAL1 contact lenses.
DECATUR, GA. — New York City-based The Praedium Group has acquired Reserve Decatur, a 298-unit multifamily community in Decatur, roughly eight miles east of downtown Atlanta. Atlantic Realty Partners developed the property. The sales price was not disclosed. Constructed in 2016, Reserve Decatur includes one-, two- and three-bedroom units ranging in size from 620 to 1,555 square feet. Unit interiors feature quartz countertops, nine-foot ceilings, built-in Bluetooth sound systems and green features including low flow plumbing fixtures and energy efficient windows. Community amenities include a clubhouse, cyber café, swimming pool with outdoor kitchen and cabana, rooftop entertainment lounge, dog park and a dog spa.
ATLANTA — IT management consulting firm CapTech has expanded its operations and relocated to the Bank of America Plaza, located at 600 Peachtree St. N.E. in Midtown Atlanta. The Richmond, Va.-based company announced its expansion into the Atlanta market in September 2016, creating 50 new technology and consulting jobs. As part of the expansion, CapTech plans to add 50 more jobs by next year. The company leased 6,000 square feet at the building, according to the Atlanta Business Chronicle. The Bank of America Plaza is located a half-mile from the Georgia Institute of Technology campus and Tech Square.
ATLANTA — When it comes to creating a “connected Atlanta,” experts say the foundation is in building a connected community. At a Nov. 2 luncheon hosted by the Atlanta chapter of Commercial Real Estate Women (CREW Atlanta), representatives from Atlanta’s local transit authority, MARTA, and Dallas-based development firm KDC highlighted projects around the city all centered around a common theme: mass transit. “MARTA has five transit-oriented development (TOD) projects in various stages of development along the north and east rail lines,” said Debbie Frank, senior development project manager in MARTA’s office of TOD and Real Estate. “These developments are vibrant, pedestrian-friendly and generally integrated within our spaces.” The projects are part of MARTA’s larger goal to increase ridership, generate revenue and support both local community development and regional economic development. Each project will utilize underused parking lots for new commercial and residential development, which will include apartments, office space and retail. “We want to take a different approach to parking by reducing the number of parking spaces provided in our TOD projects,” said Frank. “A foundational principle of TOD is one that reflects the replacement of some car trips. Not all, but some, by taking the train, walking or biking.” …
SANDY SPRINGS, GA. — Crescent Real Estate LLC has acquired the Westin Atlanta Perimeter North, a 372-room hotel in Sandy Springs, roughly 15 miles north of downtown Atlanta. The Atlanta Business Chronicle reports a joint venture between Carey Watermark Investors and The Arden Group Inc. sold the asset for $84.9 million. The hotel is located adjacent to the 63-acre Concourse Corporate Center, a 2.2 million-square-foot, Class A office complex in Atlanta’s Central Perimeter office submarket that includes the “King and Queen” office towers. The Westin Atlanta Perimeter North features 20,000 square feet of meeting space, a business center, fitness studio, outdoor pool and the SAVOR bar and kitchen. The hotel was renovated in 2014 to include enhancements to rooms, public areas, meeting space and food and beverage facilities. HEI Hotels will manage the property on behalf of the new ownership.
SAVANNAH, GA. — Marcus & Millichap has arranged the $13.5 million sale of Heritage Square, a 168-unit apartment community located at 9111 White Bluff in Savannah. John Brigel of Marcus & Millichap arranged the transaction on behalf of the undisclosed sellers and procured the buyer. Additional terms of the transaction were not disclosed. Constructed in 1971, Heritage Square includes one- and two-bedroom units and features a business center, fitness center, clubhouse and a swimming pool.
SANDY SPRINGS, GA. — Westdale, in a joint venture with StreetLights Residential, has broken ground on Aria Village, a new retail and residential development in Sandy Springs, roughly 15 miles north of downtown Atlanta. Aria Village will include 30,000 square feet of retail and restaurant space, along with a five-story apartment community dubbed The Alastair at Aria Village. The project is part of Aria, a master-planned community under development by Ashton Woods. Located adjacent to the new Mercedes-Benz USA headquarters, Aria Village will feature boutique retailers, a chef-driven restaurant and 357 apartment units, ranging in size from 701 to 2,068 square feet. The residential portion will feature a pool deck, coworking spaces, dog wash station and a two-story fitness center. The first apartment units are expected to open in fall 2019. SLR Construction LLC is the general contractor for the project, and Looney Ricks Kiss is the architect. TBG Partners is providing landscape design services, and 5G Studio is the interior designer.
ATLANTA — Tim Keane, commissioner of planning and community with the City of Atlanta, didn’t mince words when it came to his thoughts on the government’s role with new retail development. “Everyone in this room should have higher expectations for their cities and towns,” says Keane, addressing the crowd during the ICSC Southeast Conference & Deal Making event held at the Cobb Galleria Centre in Atlanta in mid-October. The panel discussion, dubbed “Debunking the Retail Apocalypse,” centered on why retail isn’t a dying industry but one that is evolving on a daily basis. For as much discussion about how food and entertainment are helping change the dynamic for retail real estate, the panel agreed that a concerted effort between the public and private sectors is the only way the retail industry can truly adapt with the times. Keane, who previously worked with the City of Charleston, says it’s the local government’s responsibility to allow developers to build the projects that people want. “It’s crazy for developers to have to go through this gauntlet before they can build what everyone wants them to build,” said Keane, who was interrupted by an applause break. Lacy Beasley, president and chief operating officer of …
ATLANTA — Five new eateries have inked leases at The Hub, the retail portion of downtown Atlanta’s Peachtree Center. The new restaurants are part of a project from Banyan Street Capital to renovate and modernize the mixed-use destination’s retail center. Amy Fingerhut of CBRE arranged leases with the new tenants, which will open on a rolling schedule beginning later this year and into early 2018. The new tenants include Salata, a build-your-own salad chain that will open its third location in Atlanta; Bep Eatery, a first-to-market Vietnamese concept; Beni’s Cubano, a Cuban eatery from the Southern Proper Hospitality team behind Tin Lizzy’s Cantina; Taste of India, which will offer a mix of northern and southern Indian cuisine; and Southern Candy Co., which will expand from a pop-up location in The Hub into a permanent space. All five new restaurants will open on the Gallery Level of The Hub, located directly under the courtyard and at the center of the renovation project, joining restaurants including Aviva By Kameel, Panbury’s, Chick-fil-A and Yami Yami. Construction on The Hub is slated for completion in spring 2019.
MACON, GA. — Amazon has unveiled plans to open a 1 million-square-foot fulfillment center in Macon. The new center will create more than 500 new full-time jobs upon opening, and will be the company’s fourth warehouse and distribution hub in Georgia. The e-commerce giant currently operates facilities in Braselton, Lithia Springs and Union City. Employees at the new facility will pick, pack and ship large-sized items, including household furniture, sporting equipment and gardening tools. New jobs will include warehouse, management and supervisory positions. The project is being developed in a partnership between Seefried Industrial Partners and an affiliate of USAA Real Estate Co. The Macon-Bibb County Industrial Authority entitled and sold the property.