Georgia

PointOne Holdings, Biscayne Atlantic Sell Multifamily Community in Metro Atlanta for $33.5M

by Camren Skelton September 18, 2017

LITHIA SPRINGS, GA. — PointOne Holdings, in a joint venture with Biscayne Atlantic, has sold Waterford Point Apartments, a 344-unit multifamily community in Lithia Springs, for $33.5 million. The buyer was not disclosed. Located at 670 Thornton Road, Waterford Point is roughly 18 miles west of Atlanta. The joint venture originally acquired the property in 2014 for $18.7 million and invested roughly $2.5 million in capital improvements, including upgraded interiors, added amenities and updated infrastructure. Community amenities include a swimming pool, fitness center and clubhouse. At the time of sale, the community was 98 percent occupied.

September 18, 2017

Georgia Office Southeast

Avison Young Secures 40,000 SF Lease for Boston Consulting Group in Downtown Atlanta

by Camren Skelton September 18, 2017

ATLANTA — Avison Young has arranged a 10-year, 40,000-square-foot lease for The Boston Consulting Group (BCG), a global management consulting firm, at 100 Peachtree in downtown Atlanta. Phil and Hilton Barry of Avison Young represented BCG in the lease transaction. Scott DeMyer and C. Deming Fish of Colliers International represented the landlord, Zeller Realty Group. BCG is expected to bring roughly 200 jobs to Atlanta upon moving to the building, in an effort to co-locate business support jobs into one central office. The Boston-based company will invest nearly $9 million renovating two floors of the building. Construction is slated for completion in the first half of 2018. Formerly known as the Equitable Building, the 622,084-square-foot 100 Peachtree features a conference center, fitness center and is located within walking distance of a variety of restaurants. The building is home to Georgia’s Own Credit Union, Koch Industries and CallRail.

September 18, 2017

Georgia Industrial Southeast

Liberty Property Trust to Develop 840,000 SF Distribution Center South of Atlanta

by Camren Skelton September 15, 2017

JACKSON, GA. — Liberty Property Trust has unveiled plans to develop Liberty Commerce Center, an 840,000-square-foot distribution center in Jackson, roughly 35 miles south of Hartsfield-Jackson Atlanta International Airport. The developer purchased the 80-acre site at the corner of Windy Lane and Midway Road in May. Upon completion, the building will feature 40-foot clear-heights, 56- by 51-foot column spacing, 161 dock doors, a 70-foot speed bay, ESFR sprinkler systems, a truck court with 175 spaces and 445 parking spaces. In addition, the building will be designed to meet LEED and Energy Star certification. Future tenants can use the remaining land to either develop a second 240,000-square-foot rear-load building with car parking, build a 266-spot trailer parking area with storage or develop an up to 1,070-space car parking area with storage.

September 15, 2017

Georgia Retail Southeast

Franklin Street Arranges $4.1M Sale of Shopping Center in Metro Atlanta

by Camren Skelton September 14, 2017

WOODSTOCK, GA. — Franklin Street has brokered the $4.1 million sale of The Shops at Eagle Pointe, a 26,960-square-foot retail center located in the Atlanta suburb of Woodstock. John Tennant and Bryan Belk of Franklin Street represented the seller, Indianapolis-based Alpha Opportunity Fund I LLC, in the transaction. D2D Holdings Inc. purchased the asset. At the time of sale, the property was leased to tenants including a gym, dry cleaner, doctor’s office and restaurants.

September 14, 2017

Georgia Industrial Southeast

Cushman & Wakefield Secures 295,800 SF Lease in Metro Atlanta with Travel Goods Company

by Camren Skelton September 14, 2017

MCDONOUGH, GA. — Cushman & Wakefield has secured a 295,800-square-foot lease with TravelPro, a provider of travel goods, at 1500 Medline Place in McDonough, roughly 30 miles south of Atlanta. Ray Stache, Lisa Pittman and Greg Dikerson of Cushman & Wakefield represented the landlord, Medline Industries, in the lease transaction. The lease marks TravelPro’s first location in the metro Atlanta market. Constructed in 2016, 1500 Medline Place was 100 percent leased in less than 12 months following completion. The facility features 37-foot ceilings, 77 dock doors, LED lighting and access to 13 UPS and FedEx centers.

September 14, 2017

Georgia Mixed-Use Southeast

North American Properties to Break Ground on Food Hall at Colony Square in Atlanta’s Midtown District

by Camren Skelton September 13, 2017

ATLANTA — North American Properties (NAP) has unveiled plans to develop a 28,000-square-foot food hall at Colony Square, a mixed-use destination at the corner of 14th and Peachtree streets in Atlanta’s Midtown district. Dubbed Main & Main, the food hall will include indoor and outdoor dining space and a staging area designed for a variety of event programming. The area will host Colony Square’s more than 200 signature and seasonal events annually. Restaurant designer and architect David Thompson is leading the project’s design, and restaurateur Steve Palmer will be the food hall’s chef curator. Main & Main will feature approximately 12 to 15 culinary concepts, as well as complementary vendors such as flower, chocolate and pastry pop-ups and an incubator space to host nonprofits. In addition, the project will include The Grove, a green space outfitted with soft seating, Spanish steps and a beer garden, that will serve as the gateway to Main & Main. NAP will break ground on Main & Main this fall, with the first phase of development slated to open in 2018.

September 13, 2017

Georgia Retail Southeast

Forge Capital Sells Publix-Anchored Shopping Center in Metro Atlanta for $9.8M

by Camren Skelton September 12, 2017

DULUTH, GA. — Forge Capital Partners has sold Duluth Station, a 94,966-square-foot shopping center located in the Atlanta suburb of Duluth, for $9.8 million. Publix anchors the center, which is 81 percent leased to tenants including Kumon Math & Reading, Great Clips, H&R Block, St. Vincent de Paul, Panda Garden and Grand Tire. Jim Hamilton, Richard Reid, Mike Allison and Brad Buchanan of HFF marketed the property on behalf of Forge Capital. Slate Retail REIT purchased the asset.

September 12, 2017

Georgia Retail Southeast

Preferred Apartment Communities Acquires Kroger-Anchored Shopping Center in Metro Atlanta

by Camren Skelton September 12, 2017

CANTON, GA. — Preferred Apartment Communities Inc. has acquired Woodmont Village, an 85,639-square-foot shopping center located 40 miles north of Atlanta in Canton. The Kroger-anchored asset was acquired through the company’s wholly owned subsidiary New Market Properties LLC, which used a non-recourse first mortgage acquisition loan from Protective Life Insurance Co. The seller and terms of the transaction were not disclosed.

September 12, 2017

Georgia Industrial Southeast

Ackerman & Co. Purchases Four-Building Industrial Portfolio in Metro Atlanta for $12.7M

by Camren Skelton September 11, 2017

TUCKER, GA. — Atlanta-based Ackerman & Co. has acquired Lavista Business Park, a four-building industrial portfolio located at 2000-2062 Weems Road in Tucker, roughly 20 miles northeast of Atlanta. Tom Shafer and John Hinson of CBRE represented the seller, Onward Investors affiliate CRE Lavista LLC, in the $12.7 million transaction. At the time of sale, the property was 87 percent leased to tenants including sonnen, which established its 26,000-square-foot U.S. headquarters and innovation center in the park in August; the Veterans Administration; Pure Red Marketing and WaveGuide Solutions. Frank Farrell of Ackerman will handle the property’s leasing assignment.

September 11, 2017

Georgia Multifamily Southeast

PRP, GFH Sell 306-Unit Apartment Community in Atlanta for $43.5M

by Camren Skelton September 8, 2017

ATLANTA — PRP LLC and GFH have sold Ansley at Princeton Lakes, a 306-unit apartment community in Atlanta, for $43.5 million. The asset was owned in a joint venture comprising one of PRP’s private equity funds and GFH, a Bahrain-based investment company. Washington, D.C.-based PRP and its partner originally built the property in 2009 and invested $35.2 million in capital improvements in 2014. Located roughly three miles west of Hartsfield-Jackson Atlanta International Airport, Ansley at Princeton Lakes includes 19 three-story buildings with a mix of one-, two- and three-bedroom units. Community amenities include a swimming pool, grill stations, fitness center, hammock garden and a sports lounge with billiards. The buyer was not disclosed.

September 8, 2017

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