Georgia

Brookside One Alpharetta

ALPHARETTA, GA. — Lincoln Property Co. Southeast has brokered office leases totaling more than 100,000 square feet in Alpharetta, a northern suburb of Atlanta. Michael Howell and Hunter Henritze of Lincoln represented the landlords in the transactions, which included SunTrust Mortgage’s 6,992-square-foot lease renewal at One Northwinds Center at 2475 Northwinds Parkway; Wells Fargo Advisors’ 17,046-square-foot lease renewal at Two Northwinds Center at 2520 Northwinds Parkway; CenturyLink Communications’ 20,197-square-foot lease renewal at Brookside One at 3625 Brookside Parkway; Guilford Insurance’s new 12,180-square-foot lease at Preston Ridge IV at 3440 Preston Ridge Road; Biota Pharmaceuticals’ 11,788-square-foot lease expansion at Three Northwinds Center at 2500 Northwinds Parkway; Thyssen Krupp’s 19,745-square-foot lease expansion and renewal at 400 Northwinds Parkway; Auto Vin’s new 8,656-square-foot lease at 800 N. Point Parkway; Veeam Software’s 6,959-square-foot lease expansion at 2520 Northwinds Parkway; McManamy McLeod Heller’s new 4,590-square-foot lease at 11525 Haynes Bridge Road; Windward Specialty Group’s new 3,126-square-foot lease at 2500 Northwinds Parkway; and Select Selling’s new 4,307-square-foot lease at 2520 Northwinds Parkway. Kirk Diamond and Dale Lewis of DTZ represented Wells Fargo, Dave Kilborn of Newmark Grubb Knight Frank represented CenturyLink, Allison Bittell of Cushman & Wakefield represented Guilford Insurance, Steve Farrar of Newburger Andes represented …

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Dawson Crossroads Dawsonville Publix

DAWSONVILLE, GA. — Publix has signed a 45,600-square-foot lease at Dawson Crossroads, a new 98,400-square-foot shopping center under construction at 4130 Dawson Forest Road in Dawsonville. The grocery-anchored shopping center is set to open in the fall of 2016 at the southeast corner of GA 400 and Dawson Forest Road. Halpern Enterprises is the developer of the project, which will also house Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running, Top Cleaners and Chili’s.

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ATLANTA, GA. — Hillwood Investment Properties, through its U.S. Industrial Fund II, has acquired a 320,000-square-foot distribution park in Atlanta. The purchase price was not disclosed. Westridge Logistics Center is a Class A multi-tenant building located near the I-75/GA Highway 155 interchange. Westridge features concrete tilt wall construction, a minimum clear height of 24 feet, building depths of 180 to 210 feet, an ESFR sprinkler system, truck court depths of 120 feet, and T-5 lighting. Frank Fallon, Brian Budnick and Chris Riley of CBRE represented the seller in the transaction.

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highland-reserve

NORCROSS, GA. — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sale of four apartment communities located in Norcross, Ga. for a total of $71.7 million. Josh Goldfarb and Tyler Averitt of MHA’s Atlanta office represented the Boston-based seller, Realty Financial Partners, in the transactions. In the first transaction, King Rook Capital, with corporate offices in New York, purchased Highland Reserve for $23.3 million. The 416-unit property was built in 1987. In the second transaction, Emma Capital Properties purchased Highland Valley for $18.8 million. The 300-unit property was built in 1985 and was subsequently renamed Princeton Heights Apartments. In the third transaction, Atlanta-based Audubon Communities purchased Highland Corners for $16.2 million. The 252-unit property was built in 1979. In the fourth transaction, Atlanta-based Marquis Investments purchased Highland Lakes for $13.4 million. The 240-unit property was built in 1985.

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NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.

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ATLANTA — Isakson Living, an Atlanta-based developer, will move forward with developing Peachtree Hills Place. Isakson Living and Foley Design Associates Architects will be refining the plans for the south Buckhead community over the next several months. Peachtree Hills Place, a residential community offering a full continuum of care, was first introduced in 2006. However, in 2009, the development of the 20-plus acre site in the historic Peachtree Hills neighborhood was put on hold during the recession. More than 150 buyers originally reserved a home at Peachtree Hills Place. Many of the initial buyers, along with 40 new prospective buyers already on the priority list, are expected to reserve a new home in the community. Amenities will include a clubhouse with multiple dining venues, a fitness center and a health center. The first phase of development will include 84 condominiums and eight custom single-family homes. The condominiums at Peachtree Hills Place will include one-, two- and three- bedroom plans ranging in size from 1,400 square feet to more than 3,000 square feet. Upon completion, there will be 192 condominiums and 12 single-family homes. Services include security, transportation, assisted living, memory care and skilled nursing. Pre-sales will commence in 2016.

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ATLANTA — Cushman & Wakefield’s equity, debt and structured finance group in Atlanta has arranged a $90 million joint venture recapitalization of a five-property multifamily portfolio. The borrower, Peak Capital Partners, owns and operates the portfolio, which spans 1,249 units in Atlanta, Charlotte, Denver and Dallas. Mike Ryan, Telly Fathaly, John Alascio, Jeff Walker and Brian Linnihan of Cushman & Wakefield arranged the financing, which includes joint venture equity provided by an institutional investor and debt from GSE and conduit lenders.

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AC Marriott Hotel at Phipps Plaza in Atlanta

ATLANTA — Winter Construction has finished vertical construction on the AC Marriott Hotel at Phipps Plaza. The new six-story, 166-room hotel is located on the Phipps Plaza campus in Atlanta’s Buckhead district. Noble Investment is developing the property, which is the first AC Marriott in Georgia. The hotel will feature the AC Lounge, 2,500 square feet of meeting space, the AC Library, a fitness center, an indoor pool and a two-level parking deck that will connect to Phipps Plaza via a pedestrian walkway.

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Georgia Heights Athens

ATHENS, GA. — Juneau Construction Co. has completed work on Georgia Heights, a 375,650-square-foot, six-story mixed-use student housing community with 266 units of housing and retail space in downtown Athens, north of the University of Georgia campus. Residents of Georgia Heights moved in in August, in time for the 2015 fall semester. Juneau co-developed, with Schenk Realty and EdR, Georgia Heights, which has one-, two- and four-bedroom apartments, approximately 375 parking spaces and 44,702 square feet of ground-level commercial retail space. A 14,000-square-foot CVS/pharmacy — set to open in 2016 — and a 6,000-square-foot J. Crew store that will open this fall will anchor the development’s commercial retail space. Several other retailers and restaurants, a leasing office and postal facility will complete the development. Each apartment at Georgia Heights offers private bathrooms and bedrooms, a full kitchen and in-unit washer and dryer. Amenities include several outdoor community areas, a courtyard patio and pool, fitness facilities, study lounges and computer labs.

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ATHENS, GA. — Prestwick Cos. has secured $24.2 million in financing from SunTrust Bank and SunTrust Community Capital (STCC) to redevelop an apartment complex in Athens. Atlanta-based Prestwick will use the proceeds to redevelop North Grove Apartments, an affordable 127-unit property. Financing for the project includes a $13.5 million equity investment from STCC and construction loans totaling $10.8 million from SunTrust Bank. The renovated community will feature one-, two- and three-bedroom units, as well as modern appliances and upgrades to HVAC systems and water heaters. Remodeling will include improvements to the community room, laundry facility, exercise center and computer lab. Community amenities such as a business center, picnic pavilion and playground are also planned. Prestwick began redevelopment of the property in June and is expected to complete work by the summer of 2016.

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