AUGUSTA, GA. — Cushman & Wakefield has brokered the $53.3 million sale of Ansley at Town Center, a Class A apartment community in Augusta. Robert Stickel of Cushman & Wakefield represented the seller, Atlanta-based Cortland Partners, in the transaction. Demarest, N.J.-based Spyglass Capital Partners acquired the property. Ansley at Town Center features a swimming pool, fitness center, business center and a clubhouse.
ATLANTA — San Diego-based OliverMcMillan has unveiled plans to build The Office Buckhead Atlanta, a 17-story, 330,000-square-foot office tower located at 300 E. Paces Ferry Road in Atlanta’s Buckhead district. Designed by San Francisco-based architect Gensler, the Class A building will feature 30,000 square feet of ground-level retail and restaurants. The office tower will be situated adjacent to The Shops Buckhead Atlanta, which OliverMcMillan developed in 2014. Construction will begin with the demolition of the former HiFi Buys building at Peachtree Street and Boiling Way, with completion slated for early 2020. Deming Fish and Scott O’Halloran of Colliers International will handle the building’s leasing assignment.
SAVANNAH, GA. — Safavieh, a New-York based manufacturer and distributor of international home furnishings, will invest $60 million to develop a 1.1 million-square-foot fulfillment center at the Savannah River International Trade Park in Savannah. Bob Robers of Cushman & Wakefield represented Safavieh in the acquisition and development of the site, and Bradley Migdal and Carol Henderson of Cushman & Wakefield secured financing for the project. Safavieh currently operates more than 500,000 square feet of warehouse space in Savannah. The new facility will triple the company’s presence in the area and is expected to create 200 jobs upon completion in late 2018.
COWETA COUNTY, GA. — Core5 Industrial Partners has unveiled plans for Southwest 85 Logistics Center, a 1.1 million-square-foot industrial development situated off Exit 51 along Interstate 85 in Coweta County, roughly 35 miles southwest of Atlanta. Slated for delivery in the second quarter of 2018, the building will feature 40-foot clear-heights, trailer parking for more than 520 trailers and expansion opportunities up to 1.3 million square feet. The announcement for Southwest 85 comes on the heels of Core5’s sale of Shugart Farms facility to TA Realty in June.
ATLANTA — Cushman & Wakefield has secured a 58,558-square-foot lease renewal and 18,339-square-foot lease expansion with Resurgens Orthopaedics at Doctors Center I-III located on the Emory Saint Joseph’s Hospital campus in Atlanta. George Olmstead of Cushman & Wakefield represented the landlord, Lillibridge Heathcare Services, a wholly owned subsidiary of Ventas Inc., in the lease transaction. Michael Lipton and Andrew Walker of Colliers International represented Resurgens Orthopaedics. In addition to the lease expansion and renewal, Cushman & Wakefield arranged a 17,068-square-foot lease with an affiliated surgery center entity at Doctors Center. In conjunction with the transactions, Lillibridge has plans for a multimillion-dollar renovation of the healthcare property that will begin in the second half of the year. The landlord expects to complete the renovation by early 2019.
CHAMBLEE, GA. — CF Real Estate Services has opened Olmsted Chamblee Apartments, a 283-unit multifamily community located at 5193 Peachtree Blvd. in Chamblee, roughly 15 miles north of downtown Atlanta. The asset is situated across the street from the Chamblee MARTA rail station and two blocks from a new Whole Foods Market opening at Peachtree Station. The apartment community includes one-, two- and three-bedroom units with granite countertops, energy-efficient appliances and windows, Nest thermostats and walk-in closets. Community amenities include co-working office space, a swimming pool, outdoor grills, 24-hour fitness facility, indoor bocce ball court, movie room, community kitchen, artist studio, mailroom, bike storage and The Workshop, which features tables and sinks for DIY projects. The property also features a 37-foot wide marquee sign. Olmsted Chamblee Apartments was 50 percent occupied at opening.
MARIETTA, GA. — Walker & Dunlop has arranged $59 million in bridge and equity financing for Newmarket Business Park, a 471,486-square-foot office park in Marietta, roughly 20 miles north of Atlanta. Mark Strauss and Rob Quarton of Walker & Dunlop arranged the floating-rate bridge loan with full-term, interest-only payments through a debt fund on behalf of the borrowers, Praelium Commercial Real Estate and South Street Partners. A hedge fund invested the equity portion. Newmarket Business Park includes four single-story and two two-story office buildings constructed between 1983 and 1985. The asset was 85 percent leased at the time of closing to tenants including The Home Depot.
ATLANTA — Selig Development, an affiliate of Atlanta-based Selig Enterprises Inc., has unveiled plans for The Works at Chattahoochee, an 80-acre, mixed-use development located on Chattahoochee Industrial Avenue in Atlanta’s West Midtown district. The project will cost approximately $1 billion, according to the Atlanta Business Chronicle. Upon completion, the multi-phased development will span more than 1.5 million square feet and more than 40 structures, including 500,000 square feet of retail, 600,000 square feet of office space, 500 residences, a 200-room boutique hotel and 13 acres of green space. Phase I of the project is slated for delivery in 2018 and will include a mix of dining, office, residential, entertainment and public green space, in addition to 200,000 square feet of adaptive reuse within three warehouses. Subsequent phases will be delivered in the next five to 10 years.
ATLANTA — Atlanta-based Peachtree Hotel Group has sold the AC Hotel by Marriott in downtown Atlanta to Austin, Texas-based Summit Hotel Properties Inc. for $57.5 million. The 255-room hotel — a redevelopment of a former Holiday Inn — opened in May 2017 after undergoing approximately $20 million in renovations. The hotel features a health and fitness studio, outdoor patio, swimming pool and an enclosed Zen garden with greenery walls. Interstate Hotels & Resorts will manage the property. Situated at 101 Andrew Young International Blvd. in the heart of downtown Atlanta, the hotel is within walking distance to CNN Studios, Centennial Olympic Park, the Georgia Aquarium, the College Football Hall of Fame and the World of Coca-Cola.
ATLANTA — Homrich Berg, an Atlanta-based wealth management firm, will relocate its headquarters to Three Alliance Center in Atlanta’s Buckhead district. Andy Ghertner and Carla Williams of Cushman & Wakefield represented the tenant, and Chris Ahrenkiel represented the landlord, Tishman Speyer, internally in the lease transaction. Homrich Berg will lease 26,126 square feet in the 30-story tower. Constructed in 2016, Three Alliance Center is the final phase of the Alliance Center office complex and features an on-site fitness center, conference center, 24-hour security, covered parking, a glass curtain wall system and 360-degree, floor-to-ceiling windows.
