MILTON, GA. — Phoenix Senior Living has broken ground on Phoenix at Milton, a $17 million assisted living and memory care community in Milton, about 30 miles north of Atlanta. Phoenix at Milton will have 85 apartments — 67 for traditional assisted living and 19 for memory care.
ATLANTA — The U.S. General Services Administration (GSA) has awarded a $101 million, 20-year lease contract to Arlington, Va.-based FD Stonewater to develop a build-to-suit facility in Atlanta for the Federal Bureau of Investigation (FBI). The FBI Atlanta Field Office will occupy the 151,066-square-foot project. FD Stonewater expects to break ground on the facility in early 2016 and deliver it in 2017. The building is the 14th build-to-suit lease project that FD Stonewater and its affiliates have developed on behalf of the GSA. Powers Brown Architecture is the lead designer for the project, and Harvey Cleary Builders is the general contractor.
CHAMBLEE, GA. — S.J. Collins Enterprises will break ground in October on Peachtree Crossing, a 107,160-square-foot grocery-anchored power center in Chamblee, an eastern suburb of Atlanta. The 11-acre site is situated at the intersection of Peachtree Boulevard and Peachtree Road. Whole Foods Market will anchor the project with a 45,000-square-foot store. Other announced tenants include Zoe’s Kitchen, Chipotle Mexican Grill, YEAH! BURGER, Taqueria del Sol and Tokyo Belly. The project will also feature mini-parks, bike racks, play areas for children, a pedestrian trail, connection to the Keswick Trail, public art area and electric vehicle charging stations. S.J. Collins expects to deliver Peachtree Crossing in the first quarter of 2017. Retail Leasing Advisors and Dart Retail Advisors are leasing the project. United Community Bank and The PrivateBank provided construction financing for the project.
SNELLVILLE, GA. — Olshan Properties has inked leases with two national retailers at The Shoppes at Webb Gin, an open-air power retail center in Snellville, a northeast suburb of Atlanta. Located at the intersection of Scenic Highway 124 and Webb Gin House Road, The Shoppes at Webb Gin consists of 333,795 square feet of retail space with 17,212 square feet of office space and features additional development opportunities. Sprouts Farmers Market, Barnes & Noble and DSW anchor the retail center, which was formerly known as The Avenue Webb Gin. The two new tenants joining the shopping center are Orangetheory Fitness, a fitness studio, and Fuzzy’s Taco Shop, a taco eatery that will be located next to Pure Barre on the south side of the property.
ATLANTA — Greystone has provided a $50 million acquisition loan for a two-property multifamily portfolio in metro Atlanta totaling 588 units. The properties in the portfolio include Rosemont Cityview in Marietta and Dawson Forest in Dawsonville. Robert Russell of Greystone arranged the 10-year CMBS loan with a 30-year amortization schedule on behalf of the Midwest-based borrower.
DULUTH, GA. — Emma Capital Investments Inc. has acquired Berkeley Landing Apartments, a 240-unit, garden-style apartment community located at 3700 Peachtree Industrial Blvd. in Duluth, a northeast suburb of Atlanta in Gwinnett County. Emma Capital purchased the asset for $21.5 million, bringing the Toronto-based investor’s total acquisitions to date over $150 million and more than 2,500 apartment units. This is Emma Capital’s 11th purchase in the United States and fifth in the metro Atlanta area. Berkeley Landing features terraced pools with a waterfall, two lighted tennis courts and a media room. The apartment units feature washer and dryer connections, large closets, wood-burning fireplaces (in some units) and fully equipped kitchens, as well as private sunrooms. Emma Capital plans to upgrade the property’s unit interiors, as all of the units feature original finishes.
DALLAS, GA. — Marcus & Millichap has brokered the $4.2 million sale of a 17,930-square-foot strip retail center located at the intersection of Seven Hills Boulevard and Cedarcrest Road in Dallas. CVS Health occupies roughly 70 percent of the center and has a 15-year corporate-guaranteed double-net lease for the store. Zach Taylor and Don McMinn of Marcus & Millichap’s Atlanta office represented the seller and procured the buyer, an all-cash 1031 investor, in the transaction. Taylor and McMinn are principals of Marcus & Millichap’s Taylor McMinn Team.
AUGUSTA, GA. — Furniture and specialty home goods retailer Conn’s Inc. has opened its first Georgia store at 270 Bobby Jones Expressway in Augusta. The 50,000-square-foot store has created roughly 30 local jobs. The new location is part of Conn’s national growth strategy to open nearly 20 stores during a 12-month period (February 2015 to February 2016). Conn’s, which has stores in 12 states, will open its 100th location next month. “Augusta is a great community and we are proud that it is the home of our first Georgia store,” said David Trahan, president of Conn’s retail division.
SUWANEE, GA. — South Coast Commercial has purchased Laurel Springs Village, a 21,710-square-foot shopping center located at 3590 and 3592 Old Atlanta Road in Suwanee. The South Carolina-based investor acquired the fully occupied asset from Laurel Springs Holdings for $4.1 million. Built in 2004, the property is anchored by Titan Team Sports and leased to nine other tenants. Kevin Markwordt and Fred Victor of Transwestern represented the seller in the transaction.
SAVANNAH, GA. — Savannah-based Dawson Architects has designed and renovated roughly 5,000 square feet of office space at 321 West Congress in downtown Savannah. The firm will also occupy the new space, which had been left virtually untouched since its construction circa 1850. Established in 2008, Dawson Architects has grown from just Neil Dawson to 17 employees as of this writing.