Georgia

Lincoln Property Executes Four Leases at Former Aaron’s Headquarters Building in Atlanta

by John Nelson May 4, 2017

ATLANTA — Lincoln Property Co. Southeast has executed four lease deals at 309 East Paces, a redevelopment of the former Aaron’s Inc. headquarters office building in Atlanta’s Buckhead district. The new tenants include Chicago-based Industrious, Patterson Real Estate Advisory Group, The Loudermilk Cos. and Atlanta Consulting Group Advisors. Shaun Weinstock of Weinstock Realty & Development LLC represented Industrious in the lease deal. Set to open in June, the property will span 80,000 square feet of office space atop ground-level retail space. The property is currently 60 percent preleased, but Lincoln Property Co. Southeast expects the property will be fully leased upon delivery.

May 4, 2017

Georgia Loans Multifamily Southeast

Eastern Union Funding Arranges $39.1M Acquisition Loan for Metro Atlanta Apartment Community

by John Nelson May 3, 2017

TUCKER, GA. — Eastern Union Funding has arranged a $39.1 million acquisition loan for Landmark at Mountain View, a 989-unit apartment community located at 110 Wood Bend Drive in Tucker, a suburb of Atlanta in DeKalb County. Marc Belsky and Jonathan Singer of Eastern Union Funding arranged the three-year loan through Arbor Commercial Mortgage on behalf of the borrower, a private investment group based in New York that purchased the property for $38 million. Built in 1986, Landmark at Mountain View was 92 percent occupied at the time of sale. Berkadia Real Estate Advisors represented the seller in the sale.

May 3, 2017

Alabama Arkansas Georgia Hospitality Kentucky Louisiana Mississippi South Carolina Southeast

R&R REIT Acquires 1,020-Room Hotel Portfolio for $35M

by John Nelson May 3, 2017

MISSISSSAUGA, ONTARIO — R&R Real Estate Investment Trust (R&R REIT) has agreed to acquire a portfolio of nine extended stay hotels in the Southeast and Midwest totaling 1,020 rooms for an aggregate purchase price of $35 million. The properties are currently owned and operated by entities controlled by R&R REIT’s Majid Mangalji and Michael Klingher. Five of the hotels operate under the HomeTowne Studios brand, and the remaining four operate under the HomeTowne Suites brand. The properties are located in Kentucky, Georgia, Mississippi, Arkansas, Louisiana, Alabama, Illinois and South Carolina. Blake, Cassels & Graydon LLP and Greenberg Traurig LLP acted as legal counsel to the REIT, and Raymond James Ltd. acted as financial advisor to the special committee charged with approving the portfolio acquisition. Following the closing of the acquisition, the REIT’s portfolio will comprise 10 hotels located in nine states.

May 3, 2017

Georgia Industrial Southeast

American Realty Advisors Buys 846,496 SF Distribution Center in Metro Atlanta from TCC, Allstate

by John Nelson May 2, 2017

MCDONOUGH, GA. — American Realty Advisors has purchased Phase I of King Mill Distribution Park, an 846,496-square-foot distribution center in the south Atlanta suburb of McDonough. Trammell Crow Co. (TCC) and Allstate sold the asset to American Realty Advisors for an undisclosed price. Wayfair, a furniture and décor e-commerce retailer based in Boston, fully leases the distribution center, which is being built on spec. The building will feature 36-foot clear heights, trailer storage, employee vehicle parking, ingress/egress at two separate entrances and a flexible design that can accommodate multiple tenants served by separate entrances. Frank Fallon and Chris Riley of CBRE’s Atlanta office represented the sellers in the sale.

May 2, 2017

Georgia Industrial Southeast

Duke Realty Expands Metro Atlanta Industrial Portfolio by 600,000 SF

by John Nelson May 2, 2017

ATLANTA — Duke Realty Corp. has expanded its metro Atlanta industrial portfolio by nearly 600,000 square feet. The Indianapolis-based REIT broke ground on Camp Creek 4505, a 336,960-square-foot warehouse within Camp Creek Business Center in East Point near Hartsfield-Jackson Atlanta International Airport. Camp Creek 4505 will be the 10th warehouse Duke Realty has developed in its 400-acre industrial park. Duke Realty also purchased a 250,000-square-foot industrial facility at 2601 Skyview Drive in Lithia Springs for an undisclosed price. With these transactions, Duke Realty now owns and manages more than 11.3 million square feet of industrial properties in the Atlanta metro area.

May 2, 2017

Georgia Industrial Southeast

Colliers Arranges $30M Sale of Industrial Park in Metro Atlanta

by John Nelson May 2, 2017

DECATUR, GA. — Colliers International has arranged the $30 million sale of Perimeter East Industrial Park, an eight-building, 775,339-square-foot development situated near Interstate 285 in Decatur. Shreveport, La.-based Sealy & Co. purchased the property from Boston-based High Street Realty Co. Dennis Mitchell and Matt Wirth of Colliers represented High Street Realty in the transaction.

May 2, 2017

Georgia Retail Southeast

Coro Realty Finalizes $47M Purchase of Retail, Parking Portfolio in Midtown Atlanta

by John Nelson May 1, 2017

ATLANTA — Atlanta-based Coro Realty Advisors has purchased The Shops at Spire, the final component of a portfolio in Midtown Atlanta comprising 87,905 square feet of ground-floor retail and over 600 parking spaces in five residential condominium buildings. Coro purchased the portfolio from The Loudermilk Cos., an Atlanta-based commercial real estate developer and owner. The purchase price was not disclosed, but the Atlanta Business Chronicle reports the portfolio traded for $47 million. The properties include retail space at 800 Peachtree, 805 Peachtree, Shops at Seventh, Shops at Spire and Shops at Viewpoint, as well as a nearby parking lot on Juniper Street. Tenants at these properties include Starbucks, BB&T, Einstein Brothers Bagels, Fresh 2 Order, World of Beer, Sprint and Atlanta’s first urban QuikTrip. When added to Coro Realty’s Gordon Biersch at 848 Peachtree St., the portfolio gives Coro Realty control over almost all of the public parking and retail on Peachtree Street between 5th and 7th streets. Kenny Holzer and Elliot Kyle of Skyline Seven brokered the sale of The Shops at Spire.

May 1, 2017

Georgia Retail Southeast

Stonis, Mayson to Lead SRS Investment Properties Group Out of Atlanta

by John Nelson April 28, 2017

ATLANTA — SRS Real Estate Partners has formalized leadership in the Southeast for its Investment Properties Group, which focuses on multi-tenant investment sales. Managing principal Kyle Stonis and principal Pierce Mayson out of Atlanta will lead the multi-tenant investment sale activity, recruiting and expansion efforts in the region. Since joining in 2011, Stonis and Mayson have established their group as one of the top investment sales teams in the Southeast. The duo has completed over $1 billion in sales transactions across 15 states since joining SRS. SRS’ Investment Properties Group and National Net Lease Group have recently welcomed two more investment sales experts with the addition of Rob Whitmire, as senior vice president in north and central Florida, and Giles Stevens, as vice president in Atlanta.

April 28, 2017

Georgia Southeast

City of Atlanta Unveils Plans for $48M Grant Park Gateway Near Zoo Atlanta

by John Nelson April 26, 2017

ATLANTA — The City of Atlanta has unveiled plans for Grant Park Gateway, a $48 million underground parking and mobility facility located at an existing eight-acre surface parking lot adjacent to Zoo Atlanta in the city’s Grant Park district. The new LEED-certified property will feature a park on the roof of the facility with green infrastructure elements and a restaurant offering regional cuisine, as well as approximately 1,000 parking spaces. The overall project will complement Zoo Atlanta’s “Grand New View” project that will repurpose the former Cyclorama building to a multi-use, special events facility and expand the zoo’s entry plaza to the Boulevard Avenue entrance. The City of Atlanta will fund the project through a revenue bond and supplement it with additional sources, including the Department of Parks and Recreation’s park improvement funds. The Department of Parks and Recreation awarded the Grant Park Gateway bid to Winter Johnson Group, a joint venture between general contractors Winter Construction and Johnson Construction Services. In the coming months the Parks Department will issue the restaurant request for proposal and host community meetings to solicit additional ideas and concerns from residents as the Grant Park Gateway project moves toward its expected completion in late …

April 26, 2017

Georgia Industrial Southeast

Variety Wholesalers Leases 1.4 MSF for Distribution Center in Newnan, Georgia

by John Nelson April 26, 2017

NEWNAN, GA. — Variety Wholesalers has signed a 20-year, 1.4 million-square-foot lease for its new distribution center at 60 Herring Road in Newnan. LRC Properties owns and manages the property, which is a former Kmart distribution center. LRC purchased the building last August and made improvements to the facility’s roof and parking lots, as well as refit the building to accommodate multiple tenants. Variety Wholesalers, which is the first tenant to move into the space, operates nearly 400 stores in 17 different states, primarily under the brand names of Roses Discount Store and Roses Express. The company will employ more than 300 full-time employees at the facility and process more than 100 million units of product annually.

April 26, 2017

Newer Posts

Older Posts