Georgia

Regency Centers Adds 365 by Whole Foods Market to Tenant Roster of Atlanta Shopping Center

by John Nelson March 13, 2017

ATLANTA — Regency Centers has signed 365 by Whole Foods Market to the tenant lineup at Paces Ferry Plaza, a 63,254-square-foot shopping center located at 3520 Northside Parkway in Atlanta. Whole Foods’ new grocer concept will open at the shopping center later this year. Regency Centers is underway on renovating the shopping center with brick facades, stone finishes and metal canopies to give the property an industrial feel, as well as additional parking space. Existing tenants at Paces Ferry Plaza include Woo Cosmetics, West Stride, ACE Hardware, Pero’s, Blue Ridge Grill and Baby Braithwaite. The Paces Ferry Plaza store will be the second location in metro Atlanta for 365 by Whole Foods Market.

March 13, 2017

Georgia Seniors Housing Southeast

McShane to Build Affordable Seniors Community Near Atlanta

by John Nelson March 9, 2017

CHAMBLEE, GA. — McShane Construction Co. has been selected to build Mercy Housing at Mercy Park, a 79-unit affordable seniors housing community in the Atlanta suburb of Chamblee. Mercy Housing, a Colorado-based affordable housing developer and operator, is leading the project. The property will feature 57 one-bedroom units and 22 two-bedroom units, as well as 4,000 square feet of amenity space, on a 1.6-acre plot. McShane expects to complete construction by January 2018. Smith Dalia Architects provided architectural services.

March 9, 2017

Georgia Loans Office Southeast

MetLife Provides Refinancing for 348,000 SF Office Tower in Atlanta

by John Nelson March 9, 2017

ATLANTA — MetLife Real Estate has provided a loan for the refinancing of Buckhead Tower, a 348,000-square-foot, Class A office building located at 3399 Peachtree Road N.E. in Atlanta’s Buckhead district. The 19-story office tower is situated on two acres and is directly connected to Lenox Square Mall and the JW Marriott Hotel. The property features a full-service café, fitness center, structured parking and 24/7 access. Ed Coco and Matt Casey of HFF placed the loan through MetLife Real Estate on behalf of the borrower, a partnership managed by Parmenter Realty Partners. Details of the financing were not released.

March 9, 2017

Georgia Retail Southeast

Sprouts Opens New Store in Metro Atlanta, Two More to Open in Second Quarter

by John Nelson March 8, 2017

DECATUR, GA. — Sprouts Farmers Market has opened its newest 30,000-square-foot store at 2551 Blackmon Drive in Decatur, a suburb of Atlanta in DeKalb County. The Phoenix-based natural and organic grocer plans to open two other stores in metro Atlanta: a Tucker location that will open in April and a Woodstock store that will open in June. With these three new stores, Sprouts will have a total of 16 locations in the metro Atlanta area. The grocer currently operates more than 250 stores in 13 states.

March 8, 2017

Georgia Industrial Southeast

Ackerman & Co. Acquires 274,791 SF Industrial Portfolio in Atlanta for $7.6M

by John Nelson March 8, 2017

ATLANTA — Ackerman & Co. has purchased a three-building industrial portfolio within Westgate Business Park in Atlanta from Clarion Partners LLC for $7.6 million. The 274,791-square-foot portfolio is situated at 5215, 5245 and 5260 Westgate Drive in Atlanta’s I-20 West industrial submarket. The three front-load, shallow-bay facilities were fully leased at the time of sale. Stewart Calhoun and Casey Masters of Cushman & Wakefield brokered the transaction. The all-equity transaction was sourced through a partnership with a European private equity group. Ackerman & Co.’s in-house team will provide leasing and management services for the portfolio. The company is also currently developing a 1 million-square-foot bulk distribution center in Atlanta’s I-85 Northeast industrial submarket in Braselton, Ga.

March 8, 2017

Georgia Industrial Southeast

Honda Invests $100M in West Georgia Production Plant

by John Nelson March 7, 2017

TALLAPOOSA, GA. — Honda has invested $100 million for a new assembly line and modifications for production of the auto industry’s first 10-speed automatic transmission for front-wheel-drive vehicles at Honda Precision Parts of Georgia LLC (HPPG) in Tallapoosa, roughly 57 miles west of Atlanta near the Georgia-Alabama border. The amount adds to the more than $3 billion that Honda has invested in its U.S. plants over the past four years. Developed by Honda R&D, the new transmission will appear first in upper grades of the 2018 Honda Odyssey minivan, launching this spring, and will be applied to other light-truck and car models for Honda and Acura in the future. HPPG was established in 2006 and annually produces more than 375,000 transmissions for Honda and Acura automobiles.

March 7, 2017

Florida Georgia Multifamily Southeast

Robbins Electra Acquires Three Multifamily Communities in Jacksonville, Metro Atlanta for $78.4M

by John Nelson March 7, 2017

JACKSONVILLE, FLA. AND STOCKBRIDGE, GA. — Robbins Electra has purchased three multifamily communities totaling 880 units in Jacksonville and Stockbridge for a combined $78.4 million. The properties include the 352-unit Vue at Baymeadows and the 160-unit Palm Trace in Jacksonville and the 368-unit Marbella Place in Stockbridge. The multifamily investor purchased Vue at Baymeadows for $34.2 million, Palm Trace for $11.7 million and Marbella Place for $32.5 million. Robbins Electra will invest $2.2 million to upgrade Vue at Baymeadows, which was 96 percent occupied at the time of sale; an undisclosed amount to upgrade Palm Trace, which was 95 percent occupied at the time of sale; and nearly $2 million to upgrade Marbella Place, which was 93 percent occupied at the time of sale. Robbins Electra’s portfolio now includes more than 22,400 apartment units totaling over $2.5 billion in value.

March 7, 2017

Affordable Housing Georgia Loans Multifamily Southeast

KeyBank Arranges $14.9M Acquisition Loan for Affordable Housing Property in Metro Atlanta

by John Nelson March 7, 2017

STOCKBRIDGE, GA. — KeyBank Real Estate Capital has arranged a $14.9 million acquisition loan for North Park at Eagle’s Landing, a 244-unit apartment community in Stockbridge, roughly 20 miles south of Atlanta. Built in 1999, the property designates 67 units for tenants earning roughly 80 percent of the area median income. Caleb Marten of KeyBank arranged the seven-year Fannie Mae loan with one year of interest-only payments and a 30-year amortization schedule.

March 7, 2017

Georgia Mixed-Use Southeast

W.C. Bradley to Develop Riverfront Mixed-Use Project in Columbus, Georgia

by John Nelson March 3, 2017

COLUMBUS, GA. — The W.C. Bradley Co. has unveiled plans for its land holdings along the Chattahoochee River in Uptown Columbus. The master plan, known as The River District, includes W.C. Bradley’s holdings from its corporate headquarters at 1017 Front Ave. to the Frank K. Martin Pedestrian Bridge on 14th Street in Columbus and almost nine acres in Phenix City, Ala. The River District’s first phase will be a 7.5-acre mixed-use complex between 13th and 14th streets known as Riverfront Place, which will include two apartments buildings, retail and office space and either an office building or hotel overlooking the river. The groundbreaking for the first building in Riverfront Place, called The Rapids, will take place within the next 60 days. The Rapids will be a 415,000-square-foot mixed-use building that will include 226 apartments, shops and a restaurant. The Rapids will feature three elevated courtyards including a garden-style pool, outdoor bar and TV area, bocce ball court, outdoor ping pong table, grilling stations, communal dining table, fire pit and poolside cabanas. Other amenities will include a 24-hour fitness center, private residents’ lounge with pool table, an indoor bar area and a TV room. The Rapids represents an estimated investment of …

March 3, 2017

Georgia Retail Southeast

GBT Realty to Develop 71,000 SF Shopping Center in South Atlanta

by John Nelson March 3, 2017

MCDONOUGH, GA. — GBT Realty Corp. has purchased a 7.6-acre site along State Route 20 in the south Atlanta suburb of McDonough from OTS Capital and Masters Living Trust. The site will house a new 71,000-square-foot shopping center anchored by Burlington. The $14 million center will also feature Pet Supermarket, Tuesday Morning, an additional junior anchor and 6,400 square feet of shop space. Brentwood, Tenn.-based GBT Realty expects to break ground in the near future and deliver the shopping center later this year.

March 3, 2017

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