Georgia

Meybohm Nears Completion of First Building at $60M Mixed-Use Project Near Augusta

by Camren Skelton April 3, 2018

EVANS, GA. — Meybohm Commercial Properties is nearing completion on the first building at The Plaza at Evans Towne Center, a $60 million mixed-use project in Evans, roughly 10 miles northwest of Augusta. The 58,000-square-foot building, named the Meybohm Building, is part of the project’s first phase. The building will be the new home of Meybohm Real Estate, an Augusta-based real estate company and the parent company of Meybohm Commercial Properties. Meybohm Real Estate will consolidate its training center, new homes division and local Evans office into 15,000 square feet at the new space. In addition, Your Pie Pizzeria will open a location at the building and additional tenants will be announced soon, according to Meybohm. Upon completion, The Plaza at Evans Towne Center will include six mixed-use buildings, a central park and a performing arts building. Ground-level spaces will be dedicated to retail and restaurants, and 2,000 parking spaces have been planned for the site. Michael Watkins Architect LLC is the master-planner for project, and R.W. Allen Construction is the general contractor. Atlanta-based architect firm TSW designed the Phase I buildings, as well as the outdoor park. A timeline for the project was not disclosed.

April 3, 2018

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Brokers $141.7M Sale of Apartment Community in Metro Atlanta

by Camren Skelton April 2, 2018

ALPHARETTA, GA. — Cushman & Wakefield has brokered the sale of Juncture, a 560-unit apartment community in Alpharetta, a northern suburb of Atlanta. CoStar reports Dallas-based JLB Partners, which developed the property in 2016, sold the asset for $141.7 million. The sales price sets a record for the highest suburban apartment sale in metro Atlanta, according to Cushman & Wakefield. Chris Spain, Robert Stickel, Travis Presnell and Alex Brown of Cushman and Wakefield arranged the transaction on behalf of JLB Partners. Nashville-based Carter-Haston Real Estate Services Inc. acquired the asset. Residences at Juncture features granite and quartz countertops, stainless steel appliances, hardwood flooring and crown molding. Community amenities include a fitness center, pool and an entertainment lounge.

April 2, 2018

Acquisitions Georgia Multifamily Southeast Student Housing

Waypoint Acquires 194-Bed Student Housing Community Near Mercer University in Macon, Georgia

by Camren Skelton April 2, 2018

MACON, GA. — Waypoint Residential has acquired The Lofts at College Hill, a 194-bed student housing community located one mile from Mercer University in Macon. Other terms of the transaction were not disclosed. The community was built in 2015 and is currently the only off-campus, purpose-built student housing property that serves the university. The Lofts at College Hill features a billiards room, grilling patio, rooftop terrace, fitness center, yoga studio and a coffee bar. In addition, the community features 12,000 square feet of ground-floor retail. The transaction marks Waypoint’s 13th student hosing acquisition since entering the sector in 2016.

April 2, 2018

Acquisitions Georgia Multifamily Property Type Southeast

Greystone Brown Brokers $58.3M Sale of Apartment Community in Metro Atlanta’s Vinings District

by Camren Skelton March 30, 2018

VININGS, GA. — Greystone Brown Real Estate Advisors has arranged the $58.3 million sale of Stone Ridge at Vinings, a 440-unit apartment community in Vinings, roughly 11 miles north of downtown Atlanta. Barden Brown, Cory Sams, Taylor Brown, Chandler Brown and Bo Brown of Greystone Brown arranged the transaction on behalf of both the seller, Florida-based Ventron Management LLC, and the buyer, New York-based Broadtree Residential. Stone Ridge at Vinings features a fitness center, pool, playground, tennis court and hiking and biking trails. Greystone Brown Real Estate Advisors is a joint venture formed in 2016 between Greystone and Brown Realty Advisors.

March 30, 2018

Development Georgia Industrial Property Type Southeast

McCraney Acquires 44.3 Acres in Metro Atlanta, Plans 612,572 SF Industrial Park

by Camren Skelton March 29, 2018

BUFORD, GA. — McCraney Property Co. has acquired 44.3 acres in metro Atlanta for the development of 985 Lanier Logistics, a 612,572-square-foot, speculative industrial project. Bilijack Bell of Wilson, Hull & Neal represented McCraney in the transaction, and Frank Simpson of The Simpson Co. of Georgia Inc. represented the seller, Northeast Georgia Health System Inc. The development site is located at the intersection of Georgia State Route 13 and Lanier Islands Parkway in Buford, roughly 38 miles northeast of Atlanta. The industrial park will include three buildings: Building 100, totaling 209,252 square feet; Building 200, totaling 167,080 square feet; and Building 300, totaling 236,240 square feet. The facilities will feature 30- to 32-foot clear heights, 38 to 42 dock-high doors and a total of 160 tractor-trailer stalls. The park will target end-users requiring freight forwarding, third-party logistics and fulfillment needs.

March 29, 2018

Features Georgia Hospitality Southeast

Strong Economy Propels Hotel Industry Forward, But Construction Lenders Remain Cautious

by Camren Skelton March 29, 2018

ATLANTA — Despite possible headwinds from Capitol Hill, the hospitality industry is poised for a healthy 2018. The combination of a strong economy, tax cuts and rising consumer confidence is boosting demand for hotels across the country. Meanwhile, lenders are tightening their purse strings when it comes to new development, leaving hoteliers confident that the industry is on solid footing. Those points were among the big takeaways stemming from two separate panel discussions held last Friday morning, March 23, during the Hunter Hotel Conference. The 30th annual event drew 1,700 attendees to the famed Atlanta Marriott Marquis hotel downtown designed by the late John C. Portman. In February, the unemployment rate remained unchanged at 4.1 percent, a 17-year low. The Consumer Confidence Index is at its highest level since 2000. “Domestically, things are great,” said Chip Rogers, president and CEO of the Asian American Hotel Owners Association (AAHOA). “This past holiday season was the most traveled holiday season on record.” Rogers said some credit goes to the low cost of gasoline. The price per gallon has been under $3 for four consecutive years, he pointed out. “You can see a direct relationship between how willing people are to travel and the …

March 29, 2018

Civic Development Georgia Property Type Southeast

JE Dunn to Build $46M Research, Teaching Facility at Georgia Southern University

by Camren Skelton March 28, 2018

STATESBORO, GA. — JE Dunn Construction will soon break ground on a $46 million teaching and research facility for the engineering programs at Georgia Southern University in Statesboro. The new Center for Engineering and Research (CEAR) will centralize the various departments and multiple disciplines of the Allen E. Paulson College of Engineering and Computing, whose operations currently take place in three buildings. The 130,000-square-foot CEAR building will span three stories and will offer advanced equipment and technology, classrooms, seminar and conference rooms, computer labs and administrative offices. JE Dunn is serving as the project’s construction manger, and Stevens & Wilkinson/SmithGroupJJR is the architect. The development team will break ground on the CEAR building in January 2019, with completion scheduled for the 2020 fall semester.

March 28, 2018

Florida Georgia Industrial Loans Mississippi Southeast

Cushman & Wakefield Secures $108.6M Refinancing for 2.2 MSF Industrial Portfolio Across U.S.

by Camren Skelton March 27, 2018

ATLANTA — The Atlanta office of Cushman & Wakefield has secured the $108.6 million refinancing of a 2.2 million-square-foot, eight-property industrial portfolio located across the United States. Mike Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged the floating-rate loan on behalf of the borrower, Industrial Properties America III LLC, a joint venture between IDI Logistics and institutional investors advised by J.P. Morgan Asset Management. The portfolio includes 2124 Skyview Drive in Lithia Springs, Ga.; 11600 Miramar Parkway in Miramar, Fla.; 2501 S.W. 160th Ave. in Miramar; and 8425 Airways Blvd. in Southhaven, Miss. The other properties are located in Illinois, Ohio, Texas and California. At the time of sale, the portfolio was fully leased to 23 tenants.

March 27, 2018

Development Georgia Industrial Southeast

LPC Southeast Breaks Ground on 243,540 SF Spec Industrial Building in Atlanta

by Camren Skelton March 27, 2018

ATLANTA — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Union 85 Distribution Center, a 243,540-square-foot speculative warehouse/distribution center in Atlanta. The facility will be located at 3725 Royal South Parkway, less than a half-mile from Interstate 85 within Atlanta’s I-85 South industrial submarket. The building will feature 32-foot clear heights, 38 dock-high doors, two drive-in doors, front-load configuration and 40 existing spaces for excess trailer storage. LPC Southeast will handle the project’s leasing assignment upon completion, which is scheduled for later this year. The company delivered Flat Shoals 85 Distribution Center at the end of 2017. The building is fully leased to Future Forwarding Co.

March 27, 2018

Acquisitions Alabama Georgia Kentucky Multifamily North Carolina South Carolina Southeast

Providence Sells Interest in 14-Property Multifamily Portfolio Located Throughout Southeast

by Camren Skelton March 26, 2018

GLENVIEW, ILL. — Glenview-based Providence, the parent company of Providence Management Co. LLC, has sold its interest in a 14-property, 3,451-unit multifamily joint venture portfolio located throughout the Carolinas, Alabama, Georgia and Kentucky. In North Carolina, the portfolio included three properties in Charlotte and three properties in Greensboro. In South Carolina, the portfolio included three properties in Greenville and a property in Spartanburg. In addition, the portfolio included a property in Huntsville, Ala., Savannah, Ga., and Lexington, Ky. The sales price and specific property names were not disclosed.

March 26, 2018

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