Georgia

CBRE Arranges Sale of Apartment Community Near University of Georgia

by John Nelson March 3, 2017

ATHENS, GA. — CBRE has brokered the sale of Archer on North Apartments, a 140-unit multifamily community located at 210 Spring Court in Athens, a little more than a mile from the University of Georgia. Atlanta-based QR Capital purchased the asset for an undisclosed price. Built in 1984 and renovated in 2012, Archer on North features a new clubhouse, outdoor pool and fitness center. The community was 98 percent occupied at the time of sale. Brad Simmel of CBRE represented the seller, Archer On North LLC, in the transaction.

March 3, 2017

Georgia Hospitality Southeast

Image Hotels Breaks Ground on Courtyard by Marriott Hotel Near Savannah

by John Nelson March 1, 2017

POOLER, GA. — Image Hotels has broken ground on a four-story, 120-room Courtyard by Marriott located at 419 Pooler Parkway in Pooler, a suburb of Savannah. The Courtyard Pooler/Savannah Airport hotel will be situated near the Savannah/Hilton Head International Airport and the new Tanger Outlet Savannah. The property will feature 6,820 square feet of banquet and event space, as well as a fitness center, guest laundry services, business center, restaurant and a 24-hour snack shop. Set to open in September 2018, the hotel will operate as a Marriott franchise and will be owned by Image Pooler LLC. Image Hotels will manage the hotel upon completion.

March 1, 2017

Georgia Industrial Southeast

Duracell Leases 873,800 SF at Core5 Industrial Facility in South Atlanta

by John Nelson February 28, 2017

FAIRBURN, GA. — Battery giant Duracell Corp. has signed a full-building lease totaling 873,800 square feet of industrial space at Core5 Logistics Center at Shugart Farms, an industrial development located in Atlanta’s I-85/Airport submarket in Fairburn. The Core5 facility will provide Duracell distribution services for all of North America. Sonoco, a global diversified packaging company, will support Duracell’s new battery packaging operation, and DHL will handle the logistics. Kris Bjornson and Bill Kee of JLL represented the tenant in the lease deal. Cushman & Wakefield represented the landlord, Core5 Industrial Partners.

February 28, 2017

Georgia Loans Office Southeast

New York Life Insurance Provides $38.8M Loan for Two-Building Office Complex in Atlanta

by John Nelson February 27, 2017

ATLANTA — New York Life Insurance Co. has provided a $38.8 million loan for One and Two Perimeter Plaza, a two-building office complex located at 5605 and 5607 Glenridge Drive N.E. in Atlanta’s Central Perimeter office submarket. The recently renovated office buildings total 316,734 square feet and feature covered building access, structured parking, an exterior patio with barbeque grills, café, conference facility and a fitness center. The 11-story One Premier Plaza and the seven-story Two Premier Plaza were 81.4 percent leased at the time of sale to tenants such as McGriff, Siebels & Williams, Mozley, Finlayson & Loggins, FirstPRO, JMG Realty, Peachtree Hotel Group and The Gap. Ed Coco and Matt Casey of HFF arranged the floating-rate, three-year loan through New York Life on behalf of the borrower, Zeller Realty Group.

February 27, 2017

Georgia Retail Southeast

MEPT Purchases Shopping Center in Peachtree City, Georgia

by John Nelson February 27, 2017

PEACHTREE CITY, GA. — The $9.5 billion MEPT Fund, along with its affiliated funds, has purchased Kedron Village II, a 157,185-square-foot shopping center located in Peachtree City, about 30 miles southwest of downtown Atlanta. MEPT also owns the adjacent Kedron Village I, a 97,000-square-foot, grocery-anchored retail center. Built in 2006, Kedron Village II was 90 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond and Petco. The weighted average remaining lease term for all tenants is nearly five years and 80 percent of the tenant base has been at the center for seven or more years. Bentall Kennedy, a Sun Life Investment Management company, advised MEPT in the transaction.

February 27, 2017

Georgia Industrial Southeast

Shaw Industries Opens $85M Carpet Tile Facility in Adairsville, Georgia

by John Nelson February 24, 2017

ADAIRSVILLE, GA. — Shaw Industries Group Inc., a carpet manufacturer, has opened its new $85 million carpet tile manufacturing facility located in Adairsville. Known as Shaw Plant T1, the property employs 170 associates and will create 500 new jobs once it reaches full capacity. The facility provides production capabilities for Shaw’s Patcraft, Philadelphia Commercial and Shaw Contract brands of carpet. The company also operates facilities in Cartersville, Ga., and Nantong, China.

February 24, 2017

Georgia Multifamily Southeast

Colliers Brokers $109M Sale of Multifamily Portfolio in Metro Atlanta

by John Nelson February 22, 2017

SMYRNA, GA. — Colliers International has arranged the $109 million sale of three multifamily properties totaling 680 units in Smyrna’s Vinings district, a submarket of Atlanta. The properties include The Peak at Vinings Mountain, The Views at Vinings Mountain and Lakeside at Vinings Mountain, collectively known as The Residences at Vinings Mountain. San Francisco-based Hamilton Zanze purchased all three properties. Will Mathews of Colliers International represented the seller, an institutional REIT, in the transaction.

February 22, 2017

Georgia Loans Multifamily Southeast

CiTYR Group Buys Apartment Community in Metro Atlanta Using $19.5M Bridge Loan

by John Nelson February 21, 2017

TUCKER, GA. — CiTYR Group has purchased LaVista Crossing, a 240-unit apartment community in the Atlanta suburb of Tucker. The Israeli-based property investor financed its acquisition with a $19.5 million bridge loan provided by KeyBank Real Estate Capital. Michael Muller of Eastern Union Funding arranged the loan on behalf of CiTYR, which plans to upgrade the property’s amenities. CiTYR has selected Atlanta-based CFLane LLC, a subsidiary of Cocke Finkelstein Inc., to oversee management of LaVista Crossing.

February 21, 2017

Georgia Office Southeast

NAI Brannen Goddard Brokers $9.4M Sale of Office Property in Metro Atlanta

by John Nelson February 21, 2017

JOHNS CREEK, GA. — NAI Brannen Goddard has brokered the $9.4 million sale of a 75,273-square-foot office building situated within the 1,900-acre Technology Park Johns Creek development. The multi-tenant, Class A office building is located at 11360 Lakefield Drive in Johns Creek, a suburb of Atlanta in Fulton County. David Beak of NAI Brannen Goddard represented the seller, Block Income Fund, in the transaction. The buyer was City of Johns Creek, which intends to use the property as its City Hall.

February 21, 2017

Georgia Restaurant Retail Southeast Top Stories

Parent Company of Burger King Acquires Popeyes Louisiana Kitchen for $1.8B

by Katie Sloan February 21, 2017

ATLANTA — Restaurant Brands International Inc. (RBI) (NYSE: QSR) has agreed to acquire Atlanta-based Popeyes Louisiana Kitchen Inc. (NASDAQ: PLKI) for $1.8 billion. Ontario, Canada-based RBI is the parent company of fast food giants Burger King and Tim Hortons. The company owns a portfolio of over 20,000 restaurants throughout the world. Popeyes will continue to be managed independently in the U.S. following the close of the transaction, which is slated for April of this year. RBI plans to expand the Popeyes brand at an increasing pace in both the U.S. and international markets over the next few years. The concept, founded in New Orleans in 1972, has over 2,600 restaurants in the U.S. and 25 other countries. “Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world,” says Daniel Schwartz, CEO of RBI. “With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and strong U.S. and international prospects for growth.” Under the terms of the transaction, Popeyes shareholders will receive $79 per share in cash at closing. Following the successful completion of the tender offer, RBI will acquire all remaining shares through a second-step merger …

February 21, 2017

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