Georgia

Carter Validus Acquires 995,728 SF American Cancer Society Building in Atlanta for $166M

by John Nelson June 20, 2017

ATLANTA — Carter Validus has acquired the 995,728-square-foot American Cancer Society Building in downtown Atlanta for $166 million. Cushman & Wakefield’s Stewart Calhoun, David Meline, Samir Idris and Andy Johns represented the seller, Atlanta-based Cousins Properties, in the transaction. Mike Ryan and Brian Linnihan of Cushman & Wakefield arranged acquisition financing. The American Cancer Society Inc., Digital Realty, InComm and the Georgia Lottery Corp. are among the tenants at the property, located at 250 Williams St. Amenities include a 450-seat business theater, an executive boardroom and Wi-Fi in common areas. Cushman & Wakefield’s Aileen Almassy, John Zintak and Porter Henritze will handle leasing of the office space on behalf of Carter Validus.

June 20, 2017

Georgia Mixed-Use Southeast

Colliers International Brokers Sale of City Block in Historic Downtown Savannah

by John Nelson June 20, 2017

SAVANNAH, GA. — Colliers International has brokered the sale of a full city block in downtown Savannah, comprising two historic buildings and one shared parking lot located at 114 Barnard St., 104 W. State St. and 109-119 Whitaker St., for an undisclosed price. Ashley Smith, Rhett Mouchet and Tyler Mouchet of Colliers International’s Savannah office represented the undisclosed seller in the transaction. The U.S. Post Office, Roly Poly, Alligator Soul and various office spaces are among the tenants at the 24,139-square-foot Barnard Street building. The LEED Silver-certified Whitaker Street building spans approximately 10,500 square feet and is home to Tequila Town Restaurant, Rocko Lounge and office spaces. Colliers International will handle the leasing and management of the properties.

June 20, 2017

Georgia Office Southeast

Terra Cap Management Acquires Metro Atlanta Office Developments for $47M

by John Nelson June 15, 2017

ALPHARETTA, GA — Terra Cap Management LLC has closed on the $47 million acquisition of Deerfield and Windward Pointe, a three building, Class A office portfolio consisting of 336,000 rentable square feet in the Atlanta suburb of Alpharetta. Located at 12725 and 12735 Morris Road, Deerfield Pointe consists of two four-story office buildings totaling more than 208,000 square feet. The property offers four parking spaces per 1,000 square feet, a fitness center and nearby walkable amenities. Windward Pointe, a five-story, 131,732-square-foot building located at 5900 Windward Parkway, was opened in 1997 and renovated in 2014. Lincoln Property Co. Southeast was awarded leasing for the properties, while Crocker Partners LLC will remain in place for property management. Florida Community Bank provided acquisition financing and Samir Idris of Cushman & Wakefield represented the undisclosed seller.

June 15, 2017

Georgia Loans Retail Southeast

Cohen Financial Secures $14.5M Loan for Retail Property in Metro Atlanta

by John Nelson June 14, 2017

DORAVILLE, GA. — Cohen Financial, a division of SunTrust Bank based in Chicago, has arranged a $14.5 million acquisition loan for Doraville Plaza, a 190,000 square-foot retail complex in Doraville, a suburb of Atlanta in DeKalb County. Dan Rosenberg and Matt Terpstra of Cohen Financial’s Chicago office secured the 10-year, fixed-rate loan with a 30-year amortization schedule through Citigroup Global Markets Inc. on behalf of the borrower, The Equinox Group Inc., a commercial real estate owner/operator in Atlanta and a longtime client to Cohen Financial. Situated on Buford Highway, Doraville Plaza is anchored by Burlington.

June 14, 2017

Georgia Industrial Southeast

Ackerman Executes 1 MSF Lease with Uline at Braselton Logistics Center Near Atlanta

by John Nelson June 13, 2017

BRASELTON, GA. — Ackerman & Co. has fully preleased Braselton Logistics Center, a 1 million-square-foot distribution facility in Braselton, roughly 50 miles northeast of Atlanta. Uline, a shipping and packaging supply distributor, has signed a 10-year lease to occupy the entire facility, which will serve as the company’s Southeast U.S. logistics hub. Ackerman & Co. owns Braselton Logistics Center in a joint venture with The Yates Group and JAC Real Estate Investments LLC. Brett Buckner of Ackerman, Todd Yates of the Yates Group and Julian Brown of Transwestern represented the landlord in the lease transaction. Dave Desper and Blaine Kelley of CBRE represented Uline, which will consolidate its nearly 600,000 square feet of operations in nearby Gwinnett County to the new facility. The cross-dock facility will feature 40-foot clear heights, a Ductilcrete warehouse floor slab, white TPO roof with skylights, LED lighting and parking space for 521 trailers and 639 cars. The facility’s office space will also be customized to Uline’s specifications. The ownership plans to deliver the distribution center by the end of the year, and Uline is scheduled to occupy the facility in the first quarter of 2018.

June 13, 2017

Georgia Office Southeast

Crestlight Capital Buys 11-Story Office Building in Midtown Atlanta

by John Nelson June 13, 2017

ATLANTA — Crestlight Capital LLC has purchased an 11-story, 217,090-square-foot office building located at 730 Peachtree St. in Midtown Atlanta. The private real estate investment firm has tapped Hunter Henritze, Michael Howell and Caroline Cole of Lincoln Property Co. Southeast to lease and manage the Class B asset. The property was 92 percent leased at the time of sale and features loft office build-outs with exposed ceilings and modern finishes. The building is situated within walking distance of the Fox Theatre and the North Avenue and Midtown MARTA stations. The seller and sales price were undisclosed.

June 13, 2017

Georgia Multifamily Southeast

Terwilliger Pappas Breaks Ground on Apartment Development in Gwinnett County

by John Nelson June 12, 2017

SUWANEE, GA. — Terwilliger Pappas has begun construction on Solis Town Center, a 240-unit apartment development situated adjacent to Suwanee Town Center in the Atlanta suburb of Suwanee in Gwinnett County. Set on six acres, the property will also feature 12,000 square feet of retail space. Terwilliger Pappas partnered with Carlyle Realty Partners and Cadence Bank on the development. The nearby Suwanee Town Center features a 10-acre, urban-style park, 100,000 square feet of retail space and 87,000 square feet of office space.

June 12, 2017

Georgia Retail Southeast

Preferred Apartment Communities Buys Kroger-Anchored Center in Metro Atlanta

by John Nelson June 8, 2017

STONE MOUNTAIN, GA. — Preferred Apartment Communities Inc. (PAC) has purchased Rockbridge Village, a 102,432-square-foot retail center in Stone Mountain, a suburb of Atlanta. Situated at the intersection of Rockbridge and Five Forks Trickum roads, the shopping center is anchored by a 68,632-square-foot Kroger store. PAC purchased the asset through its subsidiary New Market Properties LLC for an undisclosed price. PAC financed the purchase using a $14.3 million loan provided by The Prudential Insurance Co. of America. The 10-year loan features a fixed interest rate of 3.75 percent. Rockbridge Village marks PAC’s 33rd grocery-anchored shopping center in its portfolio.

June 8, 2017

Georgia Southeast

Lincoln Property Purchases Data Center in Atlanta from Coca-Cola in Sale-Leaseback

by John Nelson June 7, 2017

ATLANTA — Lincoln Property Co. Southeast, in conjunction with its data center division Lincoln Rackhouse and a joint venture partner advised by Bailard Inc., has purchased an 88,000-square-foot data center in Atlanta from The Coca-Cola Co. in a sale-leaseback transaction. Coca-Cola will lease the facility from Lincoln through 2018 as the company continues to migrate its IT apps and data to cloud-based services. The new ownership plans to master lease the data center to a co-location provider once the Coca-Cola lease expires. Located at 40 Perimeter Center E. in Atlanta’s Central Perimeter submarket, the data center has been home to several Coca-Cola divisions over the past 15 years. Lincoln’s Chip Sipple will spearhead leasing locally and will team with Ryan Sullivan of Lincoln Rackhouse to identify national tenants and co-location providers to lease the building. Lincoln has also assumed management of the facility.

June 7, 2017

Georgia Office Southeast

CBRE Secures $61.9M Loan for 318,450 SF Office Building in Midtown Atlanta

by John Nelson June 6, 2017

ATLANTA — CBRE’s Debt & Structured team in Atlanta has secured $61.9 million in financing for 715 Peachtree, a 10-story, 318,450-square-foot office building in Midtown Atlanta. The property is leased to office tenants including Honeywell and Spaces and retail tenants including Land of a Thousand Hills, Stone Summit and Bareburger. Jonathan Rice and Jeff Ackemann of CBRE arranged the three-year bridge loan through KKR & Co. LP on behalf of the borrowers, Carter and PCCP LLC. The loan will enable Carter to pay an existing loan used for renovations and refurbishment to the property, and provides for tenant improvements and leasing capital. Eric Ross, Clark Gore and Sabrina Gibson of CBRE manage leasing for 715 Peachtree on behalf of Carter, and CBRE’s Asset Services team manages the building.

June 6, 2017

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