Georgia

RocaPoint Partners, Georgetown Co. to Build $370M Mixed-Use Development in Metro Atlanta

by John Nelson October 27, 2015

ALPHARETTA, GA. — RocaPoint Partners and New York-based The Georgetown Co. have closed on the land purchase for HALCYON, a $370 million mixed-use development in Forsyth County. The new development will be located directly off Georgia 400’s Exit 12 on McFarland Parkway in Alpharetta. A groundbreaking is scheduled for January 2016, and the grand opening is set for fall 2017. Phase I plans include 125,000 square feet of retail space. Leased by JLL, HALCYON’s commercial village will include a movie or entertainment venue, gourmet market, outdoor outfitter, up to 10 local and regional full-service and fast-casual restaurants, a boutique fitness club and service retail. Up to 65,000 square feet of loft offices and built-to-suit spaces are included in Phase I of the village, as well as a 110-room hotel developed by Tharaldson Hospitality and a trailhead for Big Creek Greenway, a 9.6-mile paved recreation trail and linear park in Forsyth County. When complete, HALCYON will have two hotels, more than 360,000 square feet of office and retail space and two miles of nature trails. RocaPoint has partnered with Monte Hewett Homes and Edward Andrews Homes to develop HALCYON’s for sale residences, which include 87 single-family units and 155 townhomes with …

October 27, 2015

Georgia Multifamily Seniors Housing Southeast

Griffin, Canyon Break Ground on New Seniors Housing Community in Metro Atlanta

by Haisten Willis October 26, 2015

ROSWELL, GA. — California-based developer Griffin Real Estate Management and investment firm Canyon Partners Real Estate, in partnership with operator Thrive Senior Living, have started construction of The Georgian Lakeside Assisted Living and Memory Care, a 95-unit community in the Atlanta suburb of Roswell. Thrive will operate the community — which comprises 70 assisted living units and 25 memory care units — when complete.

October 26, 2015

Georgia Mixed-Use Southeast

NAP Signs Eight New Retailers, Restaurants to Avalon in Alpharetta

by John Nelson October 23, 2015

ALPHARETTA, GA. — North American Properties (NAP) has signed eight new retailers and restaurants to join the tenant mix at Avalon, an 86-acre, $600 million mixed-use development in Alpharetta, an affluent northern suburb of Atlanta. The new tenants include Madewell, Peter Millar, Branch and Barrel, AYA Med Spa, Café Intermezzo, Farm to Ladle, The Container Store and Parisian Nail Salon. Phase I of Avalon’s retail space is now 98.1 percent leased. Madewell has recently opened its new store and Peter Millar plans to open its store before the holiday season. The other retailers and restaurants are slated to open by spring 2016. Phase II of Avalon is expected to bring 80,000 additional square feet of retail, 500,000 additional square feet of office, 276 luxury multifamily units, a 325-room hotel and a 65,000-square-foot conference center.

October 23, 2015

TownPark Commons 125 TownPark Drive Kennesaw

Georgia Loans Office Southeast

HFF Arranges $41.4M Acquisition Loan for Office Building in Metro Atlanta

by John Nelson October 23, 2015

KENNESAW, GA. — HFF has arranged a $41.4 million acquisition loan for TownPark Commons, a 349,635-square-foot office building located at 125 TownPark Drive in Kennesaw, a northwest suburb of Atlanta. Enercon anchors the property, which is located near I-75 and I-575 and was 99.6 percent leased at the time of financing. TSP Value and Income Fund, a value-add real estate fund managed by Transwestern Investment Group, purchased the office building. Brian Carlton and Gregg Shapiro of HFF arranged the five-year, fixed-rate loan through Ares Management. In addition to the purchase, the buyer will use the loan proceeds for tenant improvements and leasing commissions.

October 23, 2015

Georgia Multifamily Southeast

Passco Cos. Buys Apartment Community in Metro Atlanta

by John Nelson October 23, 2015

DULUTH, GA. — Passco Cos. LLC has purchased The Estates at Crossroads, a 344-unit apartment property located at 2620 N. Berkeley Lake Road in Duluth, a northeast suburb of Atlanta in Gwinnett County. Built in 2002, the property features one-, two- and three-bedroom units with 9-foot ceilings with crown molding, walk-in closets, ceramic tile flooring, full sized washer and dryer units, custom cabinetry, breakfast bars, garden tubs and a private patio or balcony. The property’s amenities include a resort-style pool with sundeck, clubhouse and cafe, fitness center, business center with Wi-Fi, detached garages and tennis facilities. The apartment complex was more than 97 percent occupied at the time of sale. Chris Black of KeyBank Real Estate Capital arranged an acquisition loan through Fannie Mae on behalf of Passco Cos. The sales price was undisclosed.

October 23, 2015

Georgia Multifamily Southeast

Alliance Residential Opens Apartment Community in Buckhead

by John Nelson October 22, 2015

ATLANTA — Alliance Residential Co. has opened Broadstone Court, a six-story, 250-unit apartment community located in Atlanta’s Buckhead district. The property is situated on Maple Drive, roughly a block between Peachtree and Piedmont roads and within walking distance of the Buckhead MARTA station. The apartment community’s units feature 9-foot ceilings, walk-in closets, white quartz countertops, stainless steel appliances, full-size washers and dryers, private balconies and open floor plans for studio, one- and two-bedroom residences. Community amenities include a resort-style swimming pool, cabana, fireplace, sundeck, outdoor bar, entertainment kitchen, clubroom with nine TVs, dog spa and a fitness center with a yoga room and spin studio.

October 22, 2015

Georgia Retail Southeast

Crossman & Co. Brokers $5.5M Sale of Retail Center in Metro Atlanta

by John Nelson October 19, 2015

AUSTELL, GA. — Crossman & Co. has brokered the $5.5 million sale of the East West Shoppes, an 85,565-square-foot neighborhood retail center in Austell, a northwest suburb of Atlanta in Cobb County. The five-building property is situated on a 15.7-acre parcel at 1025 East-West Connector. The property was 75 percent leased at the time of sale to tenants such as Starbucks Coffee, Discount Tires, American Family Insurance and Apex Animal Hospital. Brian Carolan, Bruce Lyons and John Zielinski of Crossman & Co. represented the seller, a Miami-based special servicer, in the transaction. The buyer, a private investor based in Boca Raton, Fla., has retained Crossman & Co. to lease and manage East West Shoppes.

October 19, 2015

Georgia Retail Southeast

Sterling Organization Purchases Shopping Center in Metro Atlanta for $12.3M

by John Nelson October 16, 2015

NORCROSS, GA. — Sterling Organization has purchased Peachtree Parkway Plaza, a 95,509-square-foot shopping center located in Norcross, a northeast suburb of Atlanta in Gwinnett County. Sterling purchased the asset from DLC Management Corp. via the firm’s institutional fund Sterling Value Add Partners II LP for $12.3 million. Located at the intersection of Peachtree Parkway and Spalding Drive, the shopping center was 83 percent leased at the time of sale to tenants such as Goodwill, Dollar General and Youfit Health Clubs. Peachtree Parkway Plaza was originally developed in 1986. A new Taco Bell restaurant was recently built at the property, and other national businesses at the property include Blimpie Subs & Salads, Wendy’s and Arby’s.

October 16, 2015

The Battery Atlanta Braves SunTrust Park

Georgia Mixed-Use Southeast

Atlanta Braves Reveal Name, Tenant Roster of Mixed-Use Project Adjacent to SunTrust Park

by John Nelson October 15, 2015

ATLANTA — The Atlanta Braves have revealed the name and several tenants of the new mixed-use development surrounding SunTrust Park, the team’s new ballpark set to open in Cobb County in 2017. The name of the project is The Battery Atlanta and the first wave of restaurants include Antico Pizza, Cru Food and Wine Bar, Tomahawk Taproom featuring Fox Bros. Bar-B-Q, Superica and a steak house concept with chef Linton Hopkins, the owner of Atlanta’s Holeman & Finch restaurants. In addition to restaurants and retail, The Battery Atlanta will be home to One Ballpark Center, Comcast’s regional office headquarters housing the new Innovation Lab. The Battery Atlanta is being developed by the Atlanta Braves along with retail partner Fuqua Development, office developer Pope & Land Enterprises and Pollack Shores Real Estate. The development will also house an Omni hotel and The Roxy Theatre, a 53,000-square-foot indoor entertainment venue co-developed by The Atlanta Braves and Live Nation.

October 15, 2015

St. Andrews Apartments Johns Creek Atlanta

Georgia Multifamily Southeast

The Shoptaw Group Acquires Upscale Apartment Community in Metro Atlanta

by John Nelson October 15, 2015

JOHNS CREEK, GA. — The Shoptaw Group (TSG) has purchased St. Andrews Apartments, a 228-unit luxury multifamily community located in the affluent Atlanta suburb of Johns Creek. The company plans to renovate the property’s interior units upon completion of the purchase. Patterson Real Estate Advisory Group arranged a $27 million, floating rate acquisition loan through MetLife on behalf of TSG.

October 15, 2015

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