Georgia

Pollack Shores to Develop Multifamily Community in Midtown Atlanta

by John Nelson June 15, 2016

ATLANTA — Pollack Shores Real Estate Group plans to develop a new luxury apartment community located at 1270 Spring St. in Midtown Atlanta. The new 259-unit property, known as 1270 Spring Street, will feature 14,000 square feet of retail space and 3,000 square feet of live/work space. The one-, two- and three-bedroom apartments will feature large balconies, plank flooring, kitchen islands, granite and quartz countertops, under mount sinks and pendant lighting. Pollack Shores plans to have the community’s first units available by March 2018 with full completion set for early summer 2018. Upon completion, Matrix Residential, the multifamily residential management division of Pollack Shores, will manage 1270 Spring Street. Pollack Shores’ other recent developments in Atlanta include the residential portion of The Battery Atlanta around SunTrust Park, Steelworks near Atlantic Station and Millworks, The Jane and The Monroe in Buckhead.

June 15, 2016

Georgia Multifamily Southeast

Admiral Capital, Wood Partners Sell 3833 Peachtree in Atlanta

by John Nelson June 15, 2016

ATLANTA — Admiral Capital Group and Wood Partners have sold 3833 Peachtree, a 222-unit multifamily property in Atlanta. The pair of companies purchased 209 of the 240 units in the broken condominium conversion project in 2012 in a joint venture agreement. During their ownership, Admiral and Wood added a new outdoor pool and cabana area, including outdoor lounge areas. Additionally, the lobby, fitness center, and conference areas were upgraded. JLL’s Atlanta office represented both the undisclosed buyer and sellers in the transaction. The sale represents the eighth transaction for Admiral in its first value-add real estate fund, Admiral Capital Real Estate Fund LP.

June 15, 2016

Georgia Loans Multifamily Southeast

NXT Capital Provides $16M Acquisition Loan for Apartment Community in Savannah

by John Nelson June 14, 2016

SAVANNAH, GA. — NXT Capital has provided a $16 million acquisition loan for One West Victory, a newly constructed apartment community located in Savannah. The Class A property is situated in Savannah’s Historic District and features an on-site restaurant and coffee bar, fitness center, media room and community study lounges. Phil Rachels of CBRE’s Jacksonville office arranged the loan on behalf of the undisclosed borrower.

June 14, 2016

Georgia Retail Southeast

Home Depot Sells Land to Ferber Development in Metro Atlanta

by John Nelson June 14, 2016

CANTON, GA. — The Home Depot has sold a 1.9-acre tract of land located at the intersection of Sixes Road and Holly Springs Parkway in Canton, a northern suburb of Atlanta in Cherokee County. Keith Valentine of Atlanta-based Corporate Property Dispositions represented The Home Depot in the sale. The buyer, Ferber Development, plans to build a retail strip center at the site that is pre-leased to AT&T and Starbucks Coffee, as well as an outparcel pre-leased to Taco Bell. The new project will be located near The Home Depot and Northside Hospital’s offices.

June 14, 2016

Georgia Hospitality Southeast

Peachtree Hotel Group Acquires 10 Hotels for $183M

by John Nelson June 13, 2016

ATLANTA — Atlanta-based Peachtree Hotel Group has purchased 10 hotels in the Southeast and Midwest for a combined $183 million. Four hotels are under contract for acquisition and the other six properties are in various stages of development. PHG’s management arm will operate all 10 hotels upon closing, which is expected within the next 60 days. The four properties under contract for acquisition span nearly 600 rooms and include two Hampton Inns, an Aloft and a DoubleTree conversion. The six hotels under development represent nearly 700 rooms across four states and include Marriott, Hilton, IHG and Starwood brand affiliations. Peachtree’s current portfolio comprises 65 hotel assets totaling 6,672 rooms.

June 13, 2016

SLS Atlanta Hotel & Residences Midtown Atlanta

Georgia Hospitality Mixed-Use Multifamily Southeast

SBE, Trillist to Develop Hotel, Condo Tower in Midtown Atlanta

by John Nelson June 13, 2016

ATLANTA — Los Angeles-based sbe and Atlanta-based Trillist Cos. Inc. have partnered to develop the SLS Atlanta Hotel & Residences in Midtown Atlanta. The mixed-use tower will feature 213 hotel room and suites, 56 condominium residences, dining options and meeting spaces. Ranging in size from 1,600 to 4,000 square feet, the residences will feature a mix of two-, three- and four-bedroom units. Trillist and sbe plan to break ground on the tower in early 2017 with completion slated for early 2019. Dakota Development, a subsidiary of sbe, will collaborate with Trillist on the property’s design and concept. SLS Atlanta Hotel & Residences will be situated near the Woodruff Arts Center, High Museum of Art, Midtown Mile and Piedmont Park.

June 13, 2016

Georgia Industrial Southeast

CenterPoint Inks 315,810 SF Industrial Lease with Port Logistics Group in Savannah

by John Nelson June 13, 2016

SAVANNAH, GA. — CenterPoint Properties has signed Port Logistics Group Inc. to a long-term, 315,810-square-foot lease at 47 Sonny Perdue Drive in Savannah. The building is located within CenterPoint Intermodal Center near the Georgia Port Authority and the Norfolk Southern Dillard Yard. Situated on 26 acres, the property features 4,785 square feet of office space, 113 trailer parking positions, 50 exterior dock doors, 110 car parking spots, two drive-in doors and reinforced floor slabs. Port Logistics Group is a third-party logistics company that specializes in high-touch distribution for retailers and retail manufacturers through coastal gateway markets. John Simons of NAI Partners and Rex Benton of NAI Mopper Benton represented Port Logistics Group in the lease deal. John Neely and Danny Chase of Colliers International represented CenterPoint.

June 13, 2016

Georgia Office Southeast

GE Digital to Launch $3M Digital Operations Center in Midtown Atlanta

by John Nelson June 13, 2016

ATLANTA — GE Digital, a division of Boston-based General Electric, plans to establish its first global Digital Operations Center in Midtown Atlanta. The $3 million project is expected to create 250 jobs, including positions in system administration and engineering, full-stack operations and engineering and service desk operations. Ashley Morris of the Georgia Department of Economic Development represented the Global Commerce division in partnership with InvestAtlanta, the Metro Atlanta Chamber and Georgia Power. GE plans to open similar hubs in Miami and Providence, R.I., that will support the company’s global infrastructure operations.

June 13, 2016

Georgia Retail Southeast

Publix Super Markets Buys Shopping Center in Metro Atlanta

by John Nelson June 10, 2016

SNELLVILLE, GA. — Publix Super Markets Inc. has purchased Publix at Centerville, a 68,752-square-foot shopping center located at the southeast corner of Centerville Highway and Centerville-Rosebud Road in Snellville, a Gwinnett County suburb of Atlanta. CBRE’s national retail investment group represented the seller, GDC Properties Inc., in the transaction. Publix at Centerville was 94 percent leased at the time of sale to tenants such as Publix, Subway and GNC.

June 10, 2016

Georgia Office Southeast

Hines, Cousins Sign Microsoft to Lease Office Space in Avalon Development

by John Nelson June 8, 2016

ALPHARETTA, GA. — Hines and Cousins Properties have signed Microsoft Corp. to a 43,000-square-foot office lease at 8000 Avalon, a 224,000-square-foot, Class A office development under construction in Alpharetta. With the Microsoft lease, 8000 Avalon is now 19 percent pre-leased with initial occupancy slated for the second quarter of 2017. Hines and Cousins are co-developing the $72 million project, which is the only office building in Phase II of Avalon. Pete Shelton and Drew Levine of Colliers International’s Atlanta office represented Microsoft in the lease transaction.

June 8, 2016

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