Georgia

Hunter Hotel Advisors Brokers $42.1M Sale of DoubleTree Hotel in Downtown Atlanta

by John Nelson August 31, 2015

ATLANTA — Hunter Hotel Advisors has arranged the $42.1 million sale of the DoubleTree by Hilton Atlanta Downtown. The 312-room hotel is located at 160 Ted Turner Drive N.W., within walking distance of the Peachtree Center MARTA station, the Georgia World Congress Center, Philips Arena and the Georgia Aquarium. Hunter Hotel Advisors represented an unnamed global private equity firm in the sale. The buyer, Legacy Property Group, plans to invest $12 million to renovate the hotel and its restaurant while retaining the DoubleTree brand.

August 31, 2015

Georgia Retail Southeast

Bull Realty Brokers $2.8M Sale of Retail Strip Center in Metro Atlanta

by John Nelson August 31, 2015

LAWRENCEVILLE, GA. — Bull Realty has brokered the $2.8 million sale of Sugarloaf Walk Shopping Center, a 22,685-square-foot retail strip center in Lawrenceville, a northeast suburb of Atlanta. Sugarloaf Parkway LLC, an investment firm based in New York, purchased the property from Sugarloaf Walk Shopping Center LLC, a private investment firm based in Houston. John Harrison and Frank Meyrath of Bull Realty represented the seller in the transaction.

August 31, 2015

Georgia Industrial Southeast

King Industrial Realty/CORFAC International Form New Partnership

by John Nelson August 31, 2015

ATLANTA — Atlanta-based King Industrial Realty Inc. / CORFAC International has announced a new leadership structure. Charles B. King, Jr. has sold the majority of his interest in the company he founded in 1980 to six of King Industrial’s top producers. The new partnership is under the leadership of president Sim Doughtie, Bill Johnston, Steve Ratchford, Sally Tennant, Wilson Covington and Jason McCart. The firm will continue to do business as King Industrial Realty Inc., and King will remain a limited partner. Terms of the succession plan were not disclosed. Over the last 20 years, King Industrial Realty has completed over 9,200 lease and sale transactions of industrial buildings and land totaling 120 million square feet and more than 6,000 acres. King was one of the original founders of Corporate Facility Advisors (CORFAC International), a network of independently owned commercial real estate firms established in 1989.

August 31, 2015

Anthem on Ashley Atlanta Old Fourth Ward

Georgia Mixed-Use Southeast

North American Properties Breaks Ground on Mixed-Use Project in Atlanta’s Old Fourth Ward

by John Nelson August 27, 2015

ATLANTA — North American Properties (NAP) has begun construction on Anthem on Ashley, a 245-unit luxury apartment community in Atlanta’s Old Fourth Ward neighborhood. The property will front Historic Fourth Ward Park and will be situated a short walk from the Atlanta Beltline’s Eastside Trail. The property will feature 6,000 square feet of ground-level retail and commercial space that will house a restaurant and coffee shop. Anthem on Ashley’s amenity package will include a resort-style pool, fitness center, clubroom, business center and a rooftop terrace. NAP expects to deliver the project in early 2017.

August 27, 2015

Georgia Retail Southeast

Three New Restaurants Lease Space at Peachtree Center in Atlanta

by John Nelson August 24, 2015

ATLANTA — Three new restaurants have signed on at Peachtree Center, a mixed-use campus comprising six high-rise buildings in downtown Atlanta. Tin Lizzy’s Cantina and Gus’s World Famous Fried Chicken recently opened locations at Peachtree Center, and Panbury’s Double Crust Pies will open a new eatery there this fall. JLL brokered the lease transactions on behalf of Peachtree Center’s owner, Banyan Street Capital.

August 24, 2015

Georgia Office Southeast

Rubenstein Partners Sells Office Campus in Atlanta’s Central Perimeter Submarket

by John Nelson August 21, 2015

ATLANTA — Rubenstein Partners LP has sold Sterling Pointe, a two-building, Class A office campus spanning 351,345 square feet in Atlanta’s Central Perimeter submarket. The buyer, a joint venture between Harbert Management Corp. and The Simpson Organization Inc., purchased the office property for an undisclosed price. Mercedes-Benz USA recently leased 89,910 square feet at Sterling Pointe II for its temporary corporate headquarters. William Yowell, Jay O’Meara and Justin Parsonnet of CBRE represented Rubenstein Partners in the sale. Rubenstein recently sold 3.5 acres of former parking lots on the campus for a new hotel and retail space. A hotel is currently under construction and will deliver in January 2016, and a new Corner Bakery Café and other restaurants will open this fall.

August 21, 2015

Georgia Retail Southeast

Colliers Brokers $30M Sale of Shopping Center in West Georgia

by John Nelson August 20, 2015

COLUMBUS, GA. — Colliers International has brokered the $30 million sale of The Landings, a 277,000-square-foot lifestyle and community shopping center located along Airport Thruway in Columbus, a city in west Georgia near the Alabama/Georgia border. The Landings’ tenant roster includes Kinnucan’s, Outback, Baskin Robbins, I Love Juice Bar, Plato’s Closet, Chicken Salad Chick, McDonald’s, Baldwin Interiors, Taco Bell, Office Depot, Petland, Subway and Fuddrucker’s. Joe Montgomery, Tony D’Ambrosio, Hank Hall and Trevor Ritter of Colliers International’s Atlanta office represented the seller, a subsidiary of the Woodruff Cos., which will continue to provide property management and leasing services for The Landings on-site.

August 20, 2015

Georgia Multifamily Southeast

Multi Housing Advisors Arranges $10M Sale of Apartment Community in Athens

by John Nelson August 19, 2015

ATHENS, GA. — Multi Housing Advisors (MHA) has brokered the $10 million sale of Arbor Ridge, a 212-unit apartment community located at 150 Chateau Terrace in Athens. Built in 1969 and renovated in 2008, the apartment community features a clubhouse, swimming pool and tennis court. Robert Stickel of MHA represented the Texas-based seller in the transaction and procured the New York-based buyer.

August 19, 2015

Georgia Office Southeast

Dilweg Acquires Centennial Tower in Downtown Atlanta for $69M

by John Nelson August 18, 2015

ATLANTA — Durham, N.C.-based The Dilweg Cos. has purchased Centennial Tower, a 652,092-square-foot office tower located at 101 Marietta St. in downtown Atlanta. Dilweg bought the 36-story, Class A office tower from Jackson Corporate Real Estate for $69 million, according to the Triangle Business Journal. Built in 1975 and renovated in 1998, the property was 75 percent leased at the time of sale to tenants such as Turner Broadcasting, Peer 1 Hosting, Oracle and the Atlanta Hawks. Dilweg plans to invest more than $7 million to upgrade the buildings’ operating systems, common areas and tenant amenities to reposition the property. Jay O’Meara of CBRE represented the seller in the transaction. Dilweg has tapped CBRE to lease and manage Centennial Tower.

August 18, 2015

Georgia Retail Southeast

GLL Real Estate Partners Purchases TOWN Brookhaven

by John Nelson August 17, 2015

BROOKHAVEN, GA. — GLL Real Estate Partners has acquired TOWN Brookhaven, a 460,609-square-foot shopping center located at 4330 N.W. Peachtree Road E. in Brookhaven, an affluent suburb of Atlanta. The mixed-use property was 94 percent leased at the time of sale, with anchors including Cinebistro, Costco, LA Fitness, Marshalls and Publix. In addition to retailers and restaurants, TOWN Brookhaven features 22,000 square feet of office space. GLL Real Estate Partners purchased the property from a partnership between The Sembler Co. and Bell Partners. Eastdil Secured’s Atlanta office brokered the transaction. The sales price was undisclosed but media outlets are reporting TOWN Brookhaven sold for $162 million. TOWN Brookhaven is the retail and office component of a $400 million mixed-use development featuring 949 existing luxury apartment units and 374 units under construction.

August 17, 2015

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