Georgia

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

Georgia Office Southeast

IG3 Real Estate Acquires Office Complex in Metro Atlanta for $13.5M

by Camren Skelton September 8, 2017

DULUTH, GA. — Miami-based IG3 Real Estate has purchased Sugarloaf Business Center, a 113,016-square-foot office complex in Duluth, for $13.5 million. The property is situated on 14 acres at 1845-1855 Satellite Blvd., roughly 30 miles north of Atlanta in Gwinnett County. Mariano Perez of Grandbridge Real Estate Capital arranged an $8.4 million acquisition loan through MidFirst Bank on behalf of IG3. Tony Swann and Craig Taylor of CBRE represented the seller, California-based Islandia Sugarwood LLC, in the sales transaction. The complex comprises two single-story office buildings constructed in 1999 and 2001. At the time of sale, Sugarloaf Business Center was 98 percent triple-net-leased to tenants including Credit Union Service Corp., Emory Clinic, Hire Dynamics, United HealthCare Services Inc. and USASF Servicing.

September 8, 2017

Georgia Retail Southeast

Marcus & Millichap Arranges $8.6M Sale of Three-Tenant Retail Property in Metro Atlanta

by Camren Skelton September 8, 2017

DUNWOODY, GA. — Marcus & Millichap has arranged the $8.6 million sale of a three-tenant retail property located near Perimeter Mall in the Atlanta suburb of Dunwoody. At the time of sale, the 10,350-square-foot property was leased to Corner Bakery Café and Sleep Number. Tim Giambrone of Marcus & Millichap represented the seller, an Atlanta-based limited liability company, and the buyer, a Santa Monica, Calif.-based private investor.

September 8, 2017

Conference Coverage Features Georgia Seniors Housing Southeast Southeast Feature Archive Top Stories

Attracting Workers to ‘Non-Sexy’ Industry Is Challenge Seniors Housing Leaders Face

by Kristin Harlow September 8, 2017

ATLANTA — By offering paid internships, educational programs, community events and flexible hours, seniors housing leaders hope to combat the well-documented labor shortage and entice younger workers. There simply aren’t enough employees to keep up with the pace of development, and the industry is plagued by high turnover rates as well. That’s according to speakers during an operations update at InterFace Seniors Housing Southeast on Aug. 23 in Atlanta. The conference, held at the Westin Buckhead in Atlanta, attracted over 400 industry professionals. Lisa Welshhons, senior vice president of human resources company Aureon, noted the distinct gap between the number of workers needed and actual employees working. As moderator, she asked the panel of operators how the labor shortage is changing the way they are staffing their communities, as well as recruiting and retention strategies. “We’re often asked by our peers and partners what number of communities is our goal, but it’s not about a number of communities. It’s really about continuing to develop as long as we’re able to attract the best-in-class employees,” said Sarabeth Hanson, COO at Harbor Retirement Associates, a regional senior living development and management company in Vero Beach, Fla. Already a concern, the demand for new …

September 8, 2017

Georgia Multifamily Southeast

MAA Opens 332-Unit Multifamily Community in Midtown Atlanta

by Camren Skelton September 7, 2017

ATLANTA — MAA, a multifamily REIT based in Memphis, Tenn., has opened Post Midtown Atlanta, a 332-unit multifamily community located at 33 11th St. N.W. in Atlanta’s Midtown district. MAA acquired Post Properties in 2016, but continues to brand assets under the Post name. The new property includes studio, one-, two- and three-bedroom units with rents starting at $1,670 per month. Individual units feature built-in desks and bookshelves, 10-foot ceilings, quartz countertops and gas cooking stoves. Community amenities include a swimming pool with sundeck, club terrace, outdoor living and dining areas, fitness center, pet park, cycle room and a conference library. Post Midtown Atlanta is within walking distance of Piedmont Park and MARTA’s Midtown station.

September 7, 2017

Georgia Industrial Southeast

Graham Packaging Leases 212,000 SF at Distribution Center, Plant in Metro Atlanta

by Camren Skelton September 7, 2017

ATLANTA AND AUSTELL, GA. — Graham Packaging Co., a global plastic packaging solutions firm, has expanded its presence in metro Atlanta with two industrial leases totaling 212,000 square feet. The Lancaster, Pa.-based company signed a 131,505-square-foot lease expansion for a distribution center at 555 Hartman Road in Austell, roughly 17 miles west of Atlanta, and an 81,600-square-foot lease renewal for its packaging plant at 3495 Donald Lee Hollowell Parkway in Atlanta. Kemp Conrad and Chris Copenhaver of Cushman & Wakefield represented Graham Packaging in both lease transactions. GLP Development is the landlord for 555 Hartman Road, and Hartz Mountain Industries is the landlord for 3495 Donald Lee Hollowell Parkway. Graham Packaging will invest $10 million in improvements to the buildings, including increased central utilities, high-speed production lines, larger storage facilities and increased office space.

September 7, 2017

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