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.
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.
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.
EAST POINT, GA. — Marcus & Millichap has arranged the $14.5 million sale of the 119-room Hampton Inn & Suites Atlanta Airport West in East Point. The hotel is located off I-285 at 3450 Creek Pointe Way, approximately six miles from Hartsfield-Jackson Atlanta International Airport and 13 miles from downtown Atlanta. David Greenberg and David Altman of Marcus & Millichap’s National Hospitality Group represented the seller and procured the buyer in the transaction. Michael Fasano of Marcus & Millichap’s Atlanta office is the firm’s broker of record in Georgia and assisted in the transaction.
FORT OGLETHORPE, GA. — Franklin Street has brokered the $3 million sale of Cloud Springs Plaza, a 113,000-square-foot, Big Lots-anchored shopping center located at 1503 Lafayette Road in Fort Oglethorpe, roughly seven miles outside of Chattanooga. Built in 1968, the center’s other tenants include Badcock Furniture and AutoZone. John Tennant and Bryan Belk of Franklin Street represented the seller, Cloud Springs ACD LLC, in the transaction. The buyer, America’s Realty LLC, is a private investment group based in Baltimore.
ATLANTA — Cushman & Wakefield has acquired Atlanta-based Multi Housing Advisors (MHA), creating one of the largest multifamily brokerage platforms in the Southeast. MHA has closed 23.8 percent of the Southeast’s total multifamily investment sales transactions this year, according to the company. The combined firms brokered nearly $3 billion in transactions, including 20 percent of all Southeastern multifamily sales in 2015. MHA co-founders Josh Goldfarb and Marc Robinson will serve as Cushman & Wakefield’s U.S. multifamily leaders. They will be based in Atlanta and Charlotte, respectively. Goldfarb and Robinson founded MHA in 2002. The company has produced transaction volume totaling more than $5.9 billion in the past five years. MHA has sold more than 140,000 multifamily units through more than 850 individual transactions since its inception. The firm brings 13 brokerage professionals and a staff of 35 to Cushman & Wakefield, and adds on-the-ground employees to the Southeast, with offices in Birmingham and Charlotte. “Adding MHA exemplifies Cushman & Wakefield’s commitment to growing our capital markets platform, especially in the multifamily sector,” says Noble Carpenter, Cushman & Wakefield president of capital markets for the Americas. “Strategically, we are deeper and positioned to serve clients across the spectrum of multifamily properties …
SAVANNAH, GA. — SRS’ Southeast investment sales team has brokered the $1.5 million sale of an outparcel leased to Bank of America in Savannah. The 3,563-square-foot building is located at 14083 Abercorn St. in front of Savannah Mall. John Topping Jr. and Robert Drake of SRS’ Atlanta office represented the seller, SSF Savannah Properties LLC, in the transaction. Matthew Mousavi and Patrick Luther of SRS’ national net lease group in Newport Beach, Calif., represented the West Coast-based buyer, L.L. Ventures LLC.
ALPHARETTA, GA. — Bull Realty has brokered the $8.4 million sale of Stone Walk at Northpoint, a 36,105-square-foot retail property in Alpharetta. The retail center is positioned near the Haynes Bridge Road entrance to North Point Mall, a 1 million-square-foot, enclosed regional mall. Stone Walk at Northpoint was 70 percent leased at the time of sale to tenants such as Guitar Center, Sola Salon and Scottrade. John Harrison and Austen Wiley of Atlanta-based Bull Realty were the only brokers involved in the deal. CH Retail Fund, a private equity fund based in Dallas, purchased the property from Shops at Stonewalk LLC.
JONESBORO, GA. — KeyBank Real Estate Capital has provided a $14 million Fannie Mae loan for Villas by the Lake, a 256-unit apartment community in Jonesboro, a southern suburb of Atlanta. Built in 2003, the property’s amenities include an outdoor swimming pool, fitness center, clubhouse, tennis court, business center, detached garages, controlled access gates, grilling areas and lake views. Caleb Marten of KeyBank Real Estate’s commercial mortgage group arranged the acquisition loan on behalf of the undisclosed borrower.
ATLANTA — Transwestern Development Co. plans to develop Nexus, a 354,500-square-foot trophy office tower in Atlanta’s Central Perimeter submarket. The building will be situated at the intersection of Hammond Drive and Perimeter Center Parkway. Transwestern expects to break ground on Nexus in the first quarter of 2017 and wrap up construction in the fourth quarter of 2018. Nexus will feature floor-to-ceiling glass, flexible floorplates for both open and closed layouts, 10-foot ceilings, a two-story lobby and structured parking below the office building and in an adjacent deck connected via skybridge. The property will also featured a covered connection to the Dunwoody MARTA station. Cooper Carry has been selected to design Nexus, and Transwestern will provide leasing and management services.