Georgia

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

Georgia Office Southeast

Lincoln Property Co. Southeast Brokers Sale of 106,561 SF Office Building in Alpharetta

by John Nelson April 7, 2017

ALPHARETTA, GA. — Lincoln Property Co. Southeast has arranged the sale of a four-story, 106,561-square-foot office building located within Brookside Office Park at 3925 Brookside Parkway in Alpharetta. The property is situated near Ga. 400 via Old Milton Parkway. Built in 1998, the asset is currently leased to NCR Corp., an Atlanta-based financial technology firm, through the end of the year. Cousins Properties is currently developing a new office campus in Midtown Atlanta for NCR. Hunter Henritze of Lincoln Property Co. Southeast represented the seller, Equity Office, in the transaction. Jay Dowlen and Charles Beard of CBRE represented the buyer, AmTrust Group, which has retained Lincoln Property Co. Southeast to manage the office building. The sales price was not disclosed.

April 7, 2017

Georgia Multifamily Southeast

Alliance Residential Opens Two Apartment Communities in Atlanta

by John Nelson April 6, 2017

ATLANTA — Alliance Residential Co. has opened two Class A apartment communities in the metro Atlanta area: Broadstone Springs in Sandy Springs and Broadstone Midtown in Atlanta. Broadstone Springs is located at 6558 Roswell Road and connected to a private pathway to the Abernathy Greenway Park. The property features 222 studio, one- and two-bedroom apartments and eight townhome units. The 218-unit Broadstone Midtown is located at 811 Juniper Road and features top-floor penthouse residences, 12 walkup townhome units and one- and two-bedroom apartments ranging in size from 630 to 1,394 square feet.

April 6, 2017

Georgia Industrial Southeast

CRG to Develop 1.7 MSF Spec Distribution Center Near Port of Savannah

by John Nelson April 5, 2017

SAVANNAH, GA. — CRG, the real estate development arm of Clayco, plans to develop Northport Commerce Center, a two-building, 1.7 million-square-foot speculative distribution center near the Port of Savannah. The development will be situated on a 133-acre site at 590 and 455 Northport Parkway in Savannah. CRG expects to deliver the first building, a 832,000-square-foot facility with 220 trailer spaces and 173 dock high doors, this June. The second building will span 866,100 square feet and include 185 trailer spaces and 148 dock high doors. Both properties will feature 36-foot clear heights, ESFR sprinkler systems and LED lighting. Clayco is the design-build contractor and the company’s architecture subsidiary, Forum Studio, served as the design team for the development. CRG has selected Steve Grable and Chris Tomasulo of JLL to market and lease Northport Commerce Center. Grable and Tomasulo represented CRG in the purchase of the site from Dallas-based Stratford Land. The acquisition price was not released.

April 5, 2017

Georgia Mixed-Use Office Southeast

Hines, Cousins Sign Office Lease with Spaces at Avalon in Metro Atlanta

by John Nelson April 4, 2017

ALPHARETTA, GA. — Hines and Cousins Properties have executed a 34,000-square-foot, 11-year lease transaction with Spaces, a co-working office space provider owned by Regus. Spaces will occupy the first two floors of 8000 Avalon, a nine-story, 224,000-square-foot office building underway within Boulevard East, the second phase of the Avalon mixed-use development in Alpharetta. Hines and Cousins entered into a joint venture to develop the $73 million office building, which will also be home to Microsoft. David Demarest, Brannan Moss and Jennifer Ziegler of JLL represented Spaces in the lease deal. In other Avalon news, Apple has confirmed plans to relocate the Apple Store at nearby North Point Mall to Boulevard East. The new store will open at 10 a.m. on Thursday, April 13.

April 4, 2017

Georgia Multifamily Southeast

Trillist Opens YOO on the Park Apartment Community in Midtown Atlanta

by John Nelson March 31, 2017

ATLANTA — The Trillist Cos. has opened YOO on the Park, a 25-story multifamily community near Piedmont Park in Midtown Atlanta. The first residents are moving into the property, which features one- and two-bedroom apartments, as well as studio and penthouse units. YOO on the Park is Trillist’s first YOO-designed property completed in the United States. The community features a pet spa, social programs for residents, bike storage, personal equipment lockers, 24-hour fitness center, outdoor exercise terrace, yoga studio, saline pool and lounge, outdoor kitchen, deck with life-sized chess set, library, conference room, juice bar, billiards lounge, golf simulator, gaming theater, on-site dry cleaning and laundry service and in-home package and dry cleaning delivery services.

March 31, 2017

Georgia Southeast

Digital Realty Opens $22M Data Center in Downtown Atlanta

by John Nelson March 31, 2017

ATLANTA — Digital Realty has opened a new 18,000-square-foot data center facility within the American Cancer Society building at 250 Williams St. in downtown Atlanta. The new $22 million facility will be connected via high-speed fiber to Digital Realty’s existing property at 56 Marietta St. Digital Realty is expanding its footprint in the Atlanta area as it is home to more than 13,000 technology companies across multiple industries, including financial services, transportation, healthcare, IT, telecommunications, internet security and more than 30 colleges and universities. Digital Realty owns and operates 145 data center properties around the world totaling roughly 23 million square feet.

March 31, 2017

Georgia Multifamily Southeast

Greystone Brown Brokers $6.1M Sale of Multifamily Community in Dalton, Georgia

by John Nelson March 30, 2017

DALTON, GA. — Greystone Brown Real Estate Advisors has brokered the $6.1 million sale of Chalet Valley, a 140-unit, Class B multifamily community located at 1809 Shadow Lane in Dalton, a city about 90 miles northwest of Atlanta. Dalton Valley LLC acquired the property from Augsburg Investments LLC, a Georgia-based holding company. Taylor Brown, Walter Miller, Chandler Brown and Bo Brown of Greystone Brown represented the seller in the transaction. The property consists of one-, two- and three-bedroom apartments, and includes a pool, laundry services and a pet park.

March 30, 2017

Georgia Industrial Loans Southeast

Berkeley Partners Receives $22.5M Loan for Refinancing of 20-Building Industrial Portfolio in Atlanta MSA

by Jeff Shaw March 28, 2017

NORCROSS, GA. — Berkeley Partners has received a $22.5 million loan for the refinancing of a five-property, 20-building industrial portfolio in Norcross. Totaling 605,274 square feet, the portfolio comprises six buildings in Gwinnett Gateway (1710 Wilwat Drive); three buildings in Gateway Business Park I (6500 McDonough Drive); five buildings in Gateway Business Park II (6000 Dawson Blvd.); and five buildings in Atlantic Business Center (6400 Atlantic Blvd.), all of which are located in Norcross in the Northeast Atlanta industrial submarket. Additionally, the portfolio includes the one-building Five Points Business Center (1600 Roswell St. Southeast), which is located in the Northwest Atlanta industrial submarket. The properties are leased to 150 tenants. HFF arranged the five-year loan with a regional bank. Jeff Sause, Kevin Mackenzie and Gregg Shapiro of HFF represented Berkeley Partners in the loan transaction.

March 28, 2017

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