Georgia

Stan Johnson Arranges $3.5M Sale of FedEx Ground Industrial Facility in Macon

by John Nelson August 31, 2016

MACON, GA. — Stan Johnson Co. has brokered the $3.5 million sale of a freestanding, 66,449-square-foot industrial facility leased to FedEx Ground Package System Inc. in Macon. Constructed in 2006, the build-to-suit property sits on 11.4 acres at 244 Mercer Junction. Alliance Commercial Real Estate Group purchased the asset, which FedEx uses as a package sorting and distribution facility. Britton Burdette and Mollie Alteri of Stan Johnson Co.’s Atlanta office represented the seller, 244 Mercer Junction Road LLC, and procured the buyer in the transaction.

August 31, 2016

Conference Coverage Features Georgia Seniors Housing Southeast Southeast Feature Archive Top Stories

Should Seniors Housing Developers Focus More on Hospitality or Healthcare?

by John Nelson August 31, 2016

ATLANTA — Seniors housing by design has both elements of hospitality and healthcare. But which is more important to developers trying to build the next wave of senior facilities? Each developer has a different opinion, based on a development panel at the third-annual InterFace Seniors Housing Southeast conference, held Aug. 25 at the Westin Buckhead in Atlanta. The all-day event drew approximately 315 industry professionals. Zach Bowyer, managing director of CBRE, moderated the panel entitled “The Outlook for Seniors Housing Development: What’s Being Built, Where, and are Supply and Demand in Balance?” Jeff Arnold, chief operating officer of The United Group of Cos., mostly develops independent living assets in New York, Florida and Georgia. Arnold’s main concern is with the hospitality side of the business, as his projects tend to be lower acuity than some of his counterparts on the stage. “From a design standpoint, we’re trying to drive our age down as much as we can. Right now we trend at about 78 years old. If we could push that under 75, that will give us longevity,” said Arnold. “We try to design more active communities, focusing on things that are more modern.” The independent living sector has legs …

August 31, 2016

Georgia Hospitality Southeast

McKibbon Hospitality, Coro Realty to Build Hampton Inn & Suites by Hilton in Buckhead

by John Nelson August 30, 2016

ATLANTA — McKibbon Hospitality has teamed up with Coro Realty Advisors to develop a new 186-room Hampton Inn & Suites by Hilton in Atlanta’s Buckhead district. The 108,659-square-foot hotel will be situated on Piedmont Road within Buckhead Place, Coro Realty’s mixed-use center that features an LA Fitness, Marshall’s, Pier One, Hyatt Place and the 05 Buckhead apartment tower. McKibbon Hospitality has selected Sarasota, Fla.-based Kellogg & Kimsey as the general contractor. The development team expects to break ground on the hotel in September.

August 30, 2016

Georgia Industrial Southeast

NAI Brannen Goddard Brokers $14M Sale of 230,000 SF Industrial Complex in Metro Atlanta

by John Nelson August 30, 2016

DULUTH, GA. — NAI Brannen Goddard has brokered the $14 million sale of a three-building, 230,000-square-foot industrial complex situated within Northmont Business Center in Duluth, a northeastern suburb of Atlanta in Gwinnett County. Situated on 28 acres along Satellite Boulevard, the single-story complex offers both warehouse and office space and features 24-foot clear heights, 120-foot truck courts and ample parking. Exeter Property Group purchased the complex from the undisclosed seller. Jack Haden, Mike Chambers and Bradley Pope of NAI Brannen Goddard represented the seller in the transaction. Exeter Property Group has retained the NAI Brannen Goddard team to lease the project.

August 30, 2016

Georgia Southeast Top Stories

The Atlanta Falcons Secure $850 Million Financing for New Stadium

by Katie Sloan August 30, 2016

ATLANTA — The Atlanta Falcons organization has received $850 million in permanent financing for the team’s new $1.2 billion Mercedes-Benz Stadium, scheduled to open next year. Bank of America, SunTrust Banks and 18 institutional investors provided the financing, which will convert the stadium’s construction loans to long-term financing, according to reports by The Atlanta Journal Constitution. The Falcons will repay the institutional investors — which provided roughly two-thirds of the financing — over 26 years, with the banks receiving payment over a shorter term. The 2 million-square-foot development — designed through a collaboration between HOK, tvsdesign, Goode Van Slyke Architecture and Stanley Beaman & Sears — will have the capacity to seat up to 71,000 for NFL games. The stadium will also be home to the city’s new MLS soccer team, Atlanta United. The Mercedes-Benz Stadium will feature a retractable roof designed in the shape of a Falcon’s wing; a 360-degree, HD halo video board built into the stadium’s roof; a technology lounge; a 100-yard bar; an exterior fan plaza; and a floor-to-ceiling window offering views of downtown Atlanta. Developers are seeking LEED Platinum certification for the project. — Katie Sloan

August 30, 2016

Georgia Industrial Southeast

CenterPoint Properties to Develop 492,492 SF Spec Industrial Facility in Savannah

by John Nelson August 26, 2016

SAVANNAH, GA. — CenterPoint Properties plans to develop a 492,492-square-foot spec industrial facility within CenterPoint Intermodal Center in Savannah. Situated on 32 acres about four miles from the Port of Savannah’s main gate, the facility will feature Norfolk Southern rail service and the ability to be subdivided based on tenant requirements. Danny Chase and John Neely of Colliers International are marketing the facility on behalf of CenterPoint Properties. The Class A, cross-dock warehouse is expandable up to roughly 780,000 square feet and will feature 32-foot clear heights, 80 dock doors, four drive-in ramps, 176 trailer parking positions and 182 car parking spots. CenterPoint Properties expects to deliver the facility in summer 2017.

August 26, 2016

Georgia Loans Office Southeast

NXT Capital Provides $13.6M Acquisition Loan for Office Building in Atlanta

by John Nelson August 25, 2016

ATLANTA — NXT Capital has provided a $13.6 million acquisition loan for the purchase of Northridge Plaza, a six-story, Class B office building in Atlanta. The 128,000-square-foot property is located at the intersection of GA 400 and Northridge Road.

August 25, 2016

Georgia Multifamily Southeast

Brasfield & Gorrie Completes High-Rise Apartment Tower in Midtown Atlanta

by John Nelson August 24, 2016

ATLANTA — Brasfield & Gorrie has completed the construction of Sixty 11th, a 20-story high-rise apartment tower located on the corner of 11th Street and Crescent Avenue in Midtown Atlanta. The 320-unit property is the fourth phase of 12th and Midtown, a master-planned, mixed-use development owned by a joint venture between Daniel Corp., Selig Enterprises and MetLife. Sixty 11th features a five-level parking deck, 28,000-square-foot elevated amenity and pool deck and 17,000 square feet of ground-level retail space. Architect Rule Joy Trammel + Rubio designed the property to achieve LEED certification.

August 24, 2016

Georgia Retail Southeast

South Coast Commercial Acquires Grocery-Anchored Center in Metro Atlanta for $5.7M

by John Nelson August 24, 2016

CANTON, GA. — South Coast Commercial has acquired Riverstone Mill, a 43,350-square-foot shopping center located in the Atlanta suburb of Canton, for $5.7 million. ALDI anchors the 87 percent occupied center, which was developed in 2002. Fred Victor of Transwestern represented the seller, Coro Realty Advisors LLC, in the transaction.

August 24, 2016

Georgia Office Southeast

Atlanta Property Group Acquires Two Office Buildings in Metro Atlanta

by John Nelson August 23, 2016

ATLANTA AND DULUTH, GA. — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has acquired two office buildings in metro Atlanta totaling 151,000 square feet. The sales price was not disclosed. The projects include the 65,000-square-foot 5871 Glenridge Building in Atlanta’s Central Perimeter submarket and the 86,000-square-foot Waterford Centre building located at 5555 Triangle Parkway in Duluth’s Peachtree Corners submarket. Both assets span four stories and were built in 1985. Waterford Centre was 88 percent leased at the time of sale, and 5871 Glenridge was 61 percent leased. David Meline, Stewart Calhoun, Samir Idris and Casey Masters of Cushman & Wakefield represented the single seller in the transaction. These acquisitions bring APG’s total portfolio of owned and third-party assignments to 12 properties spanning over 3.3 million square feet.

August 23, 2016

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