Georgia

CBRE Arranges Lease for New Brewery Pontoon in Metro Atlanta

by John Nelson April 19, 2017

SANDY SPRINGS, GA. — CBRE has arranged an 11,000-square-foot lease for Pontoon, a new brewery coming to Northridge Business Center in Sandy Springs, a northern suburb of Atlanta. The brewery will be located across the street from a Coca-Cola bottling plant on Dunwoody Place, situated directly between Ga. 400 and Roswell Road. Set to open in September, the first location for Pontoon will feature a large taproom and dockside décor, as well as tours, tastings, growler and crowler sales, events, live music and tailgates. Wesley Budd and Chris Irby of CBRE represented Pontoon in the lease transaction.

April 19, 2017

Georgia Mixed-Use Southeast

North American Properties Delivers Avalon’s 1.2 MSF Second Phase

by John Nelson April 18, 2017

ALPHARETTA, GA. — North American Properties (NAP) has delivered Phase II of Avalon, a massive mixed-use development in the north Atlanta suburb of Alpharetta. Known as Boulevard East, the 1.2 million-square-foot phase adds 20 new retailers and restaurants, as well as a nine-story office building and a 276-unit apartment community known as Veranda at Avalon. The office building, co-developed by Hines and Cousins Properties, is leased to tenants such as Microsoft Corp. and Spaces, a co-working office space provider. Coming in January to Avalon is the $112 million Autograph Collection hotel and conference center, which topped out on April 12. The hotel is the result of a public-private partnership between Stormont Hospitality Group, NAP and the City of Alpharetta, with additional assistance from the Development Authority of Fulton County and the Alpharetta Convention & Visitors Bureau. Fifth Group Restaurants will open South City Kitchen Avalon in a street-level space at the hotel early next year, and Starbucks is also slated to open in January with the hotel. The night before the opening of Phase II, NAP hosted Savor + Celebrate, a black tie fundraising event that raised $100,000 for Atlanta-based charity City of Refuge. NAP matched the amount, bringing the …

April 18, 2017

Georgia Industrial Southeast

Port Logistics Realty Breaks Ground on 2.6 MSF Industrial Park in Metro Atlanta

by John Nelson April 18, 2017

PALMETTO, GA. — Port Logistics Realty (PLR) has broken ground on Phase I of Palmetto Logistics Park, a two-phase, 2.6 million-square-foot industrial park in Palmetto, roughly 12 miles southwest of Hartsfield-Jackson Atlanta International Airport. The development, which is PLR’s first project in the Atlanta market, is situated near the CSX/BNSF Intermodal facility and Interstate 85. Slated for completion in the fourth quarter of this year, Phase I will include a 1.1 million-square-foot industrial facility, expandable to 1.3 million square feet, as well as park infrastructure. Phase II will include a 1.3 million-square-foot facility. PLR is developing Palmetto Logistics Park in partnership with Atlanta-based River Oaks Capital Partners. Colliers International will market the property for lease.

April 18, 2017

Georgia Mixed-Use Southeast

Joint Venture to Break Ground on Studioplex on Auburn Project Along Atlanta BeltLine

by John Nelson April 14, 2017

ATLANTA — A joint venture between Columbia Ventures LLC and Studioplex LLC has broken ground on the next phase of Studioplex on Auburn, a mixed-use development in Atlanta’s Old Fourth Ward district. Fronting the Atlanta BeltLine near Krog Street Market, the 31,000-square-foot, $26 million project will feature 19 townhomes atop retail space. Retailers signed on at Studioplex on Auburn include Dancing Dogs Yoga, Beetnix Juice Bar, 18.21 Bitters and Hawkers Asian Street Fare. The joint venture opened a parking deck at the project in January and plan to add a new connection to the BeltLine, a 22-mile loop that will ultimately connect 45 intown neighborhoods through multi-use trails, parks and streetcars.

April 14, 2017

Georgia Multifamily Southeast

Fulton Supply Opens $12M Loft Adaptive Reuse Project in Downtown Atlanta

by John Nelson April 14, 2017

ATLANTA — Fulton Supply Co., an Atlanta-based distributor of industrial equipment and machinery, has converted its former warehouse in downtown Atlanta’s Castleberry Hills neighborhood into loft-style residences. Situated at 342 Nelson St. S.W. near the new Mercedes-Benz Stadium, Fulton Supply Lofts is a $12 million adaptive reuse project offering 74 one-, two- and three-bedroom lofts and covered deck parking. Fulton Supply moved its operations from the warehouse to Stone Mountain, Ga., after 94 years of occupancy. Rents in the apartment community range from approximately $850 to under $2,500 per month. Construction began on the three-story property in early 2015. The project is currently 70 percent occupied, according to Spring Taylor of Provence Real Estate LLC and leasing director at Fulton Supply Lofts. Lofts average 1,000 square feet per unit and include LED lighting, Energy Star appliances and low-flow plumbing, as well as original architectural features such as iron staircases, floor-to-ceiling windows, exposed brick walls and hardwood floors. Joel Roth, president of Fulton Supply Co., financed and oversaw the conversion with a focus on preserving as much of the warehouse as possible while creating affordable housing.

April 14, 2017

Georgia Retail Southeast

PGIM Sells 420,556 Retail Center in Metro Atlanta for $109M

by John Nelson April 13, 2017

ALPHARETTA, GA. — PGIM Real Estate has sold North Point Market Center, a 420,556-square-foot retail center located across the street from North Point Mall at 6200 N. Point Parkway in Alpharetta. The sales price was undisclosed, but the Atlanta Business Chronicle reports PGIM sold the property to CBRE Global Investors for nearly $109 million. North Point Market Center was nearly fully leased at the time of sale to tenants such as Nordstrom Rack, PetSmart, Five Guys, Stein Mart and Dick’s Sporting Goods. PGIM, which owns the nearby Avalon, purchased the retail center in 1998 in a joint venture and has been the sole owner since 2013.

April 13, 2017

Georgia Southeast

Atlanta United Opens $60M Soccer Training Facility North of the City

by John Nelson April 13, 2017

MARIETTA, GA. — Atlanta United, a new Major League Soccer franchise, has opened its $60 million training facility on Franklin Gateway in Marietta, a northern suburb of Atlanta. Named the Children’s Healthcare of Atlanta Training Ground, the 33-acre project features a 30,000-square-foot headquarter building and six full-size soccer fields, including three natural grass and three FieldTurf surfaces. The architect, Atlanta-based tvsdesign, is applying the facility for LEED Silver certification. The headquarters building features a team locker room with 22-foot ceilings and 14 elevated windows, six additional locker rooms, full-service kitchen and dining room with balcony access, show pitch featuring a 2,500-seat stand and separate pavilion for viewing, gym, two hydrotherapy plunge pools and entrance artwork created by South African artist Marco Cianfanelli. The Children’s Healthcare of Atlanta Training Ground will hold open training sessions and tournaments, as well as host visiting national and international clubs. The project will also be home to the club’s youth academy, first team players and club staff.

April 13, 2017

Georgia Multifamily Southeast

JE Dunn Construction Breaks Ground on Apartment Community in Metro Atlanta

by John Nelson April 13, 2017

ALPHARETTA, GA. — JE Dunn Construction has begun building a four-story, 168-unit apartment community within the Alpharetta City Center development. The property will also feature 40,000 square feet of retail space and 115 below-grade parking spaces. The apartment community is JE Dunn’s fourth project with multifamily developer South City Partners. The Alpharetta City Center project is a redevelopment plan that includes civic buildings, public spaces, residential, office, retail and mixed-use buildings.

April 13, 2017

Georgia Multifamily Southeast

Pollack Shores Opens Apartment Community in West Midtown Atlanta

by John Nelson April 12, 2017

ATLANTA — Pollack Shores Real Estate Group has opened Millworks at Howell Mill, a 345-unit apartment community located on Emery Street in Atlanta’s West Midtown district. The property, which has 80 residences under lease, is situated near the intersection of Collier and Howell Mill roads. Millworks features one- and two-bedroom apartments ranging from 727 to 1,581 square feet. Matrix Residential, a Pollack Shores subsidiary, is managing Millworks. Community amenities at Millworks at Howell Mill include a conference room, Google Fiber connectivity, resort-style saline pool, bocce ball court and an outdoor lounge.

April 12, 2017

Georgia Multifamily Southeast

CBRE Brokers Sale of Apartment Community in Metro Atlanta

by John Nelson April 10, 2017

DUNWOODY, GA. — CBRE has arranged the sale of Aspire Dunwoody, a more than 500-unit multifamily community located at 7150 Peachtree Dunwoody Road in Dunwoody, part of Atlanta’s Central Perimeter submarket. Affiliates of Harbor Group International purchased the asset from Lincoln Property Co. for an undisclosed amount. Prior to the sale, Lincoln invested $6.3 million to renovate Aspire Dunwoody’s interior units and community amenities. Kevin Geiger, Malcolm McComb, Paul Berry and Shea Campbell of CBRE’s Southeast Multifamily Group represented the seller in the transaction.

April 10, 2017

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