Georgia

Franklin Street Brokers $2.3M Sale of Retail Property in Georgia

by John Nelson March 10, 2016

WINDER, GA. — Franklin Street has arranged the $2.3 million sale of Mill Shoppes of Winder, a 19,019-square-foot, two-building retail development in Winder. The property is located at 105 and 111 E. May St. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Alpha Opportunity Fund I LLC, in the transaction. An unnamed Atlanta-based private investor purchased the property, which is currently 79 percent leased to tenants such as Subway, Titlemax of Georgia and Little Caesars Pizza.

March 10, 2016

Georgia Retail Southeast

Amazon to Open New Pickup Location at Georgia Tech in Atlanta

by John Nelson March 9, 2016

ATLANTA — Amazon has signed an agreement with Georgia Tech to open a staffed pickup location on the school’s campus at 86 Fifth St. N.W. in Midtown Atlanta. Known as Amazon@GeorgiaTech, the 2,500-square-foot space in the school’s Technology Square area will be used by patrons to pick up and return Amazon orders. Amazon Student and Prime members will be able to receive free same-day pickup for Amazon orders placed by noon and free one-day pickup for orders placed by 10 p.m. This is Amazon’s first staffed pickup location in the state of Georgia. Since 2015, Amazon has opened staffed pickup locations at the following universities: Purdue University, University of Massachusetts Amherst and University of California, Berkeley, as well as in the college communities of University of California, Santa Barbara, and University of Cincinnati. Amazon will open four more locations in 2016 at the University of Pennsylvania, University of California, Davis, and The University of Texas at Austin, as well as in the college community of University of Akron.

March 9, 2016

Georgia Seniors Housing Southeast

SLIB Brokers $20.2M Sale of Two Assisted Living Communities in Georgia

by John Nelson March 7, 2016

VALDOSTA AND NASHVILLE, GA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities in Georgia to Omega Healthcare Investors for $20.2 million. The transaction was structured as a sale-leaseback deal, so the undisclosed seller will continue to operate the communities. The properties are a 109-unit community in Valdosta, sold for $17.5 million, and a 26-unit community in Nashville, sold for $2.7 million. Both are located in south Georgia near the Florida border. Bradley Clousing led the SLIB team in brokering the transaction.

March 7, 2016

Satellite Cinemas The Gallery at South DeKalb Decatur

Georgia Retail Southeast

Thor Equities to Open Satellite Cinemas Theater in The Gallery at South DeKalb in Decatur

by John Nelson March 4, 2016

DECATUR, GA. — Thor Equities, owner of The Gallery at South DeKalb in Decatur, plans to open a new 12-screen Satellite Cinemas movie theater at the mall in April. The 42,000-square-foot theater will join The Gallery’s more than 100 retailers and community services, including Macy’s, Fallas, Footlocker, DTLR, U.S. Post Office, Georgia Department of Drivers Services and GameStop. Urban Retail Properties manages the 800,000-square-foot mall. The theater, which will replace the former Screenworks theater, will feature in-auditorium dining, concessions, stadium seating and a 3D projection system.

March 4, 2016

Georgia Retail Southeast

Edens Breaks Ground on $95M Moores Mill Development in Atlanta

by John Nelson March 3, 2016

ATLANTA — Edens, a Columbia, S.C.-based developer, owner and operator of shopping centers, has broken ground on Moores Mill, a 70,000-square-foot shopping center in Atlanta’s West Midtown District. The $95 million project will be anchored by Publix and feature a mix of retailers and restaurants, as well as apartment residences, according to the Atlanta Business Chronicle. Located on Moores Mill Road at Marietta Boulevard, Edens plans to deliver the property in June 2017. Edens held a groundbreaking ceremony on Wednesday, March 2 that was attended by Atlanta Mayor Kasim Reed, Edens executives, local government officials and economic development officers.

March 3, 2016

Georgia Industrial Southeast

Kroger Sells 528,000 SF Industrial Property in Atlanta for $14.5M

by John Nelson March 3, 2016

ATLANTA — Kroger has sold Bouldercrest Distribution Center, a three-building, 528,000-square-foot cold storage/food distribution center in southeast Atlanta, for $14.5 million. Highridge Provender purchased the property, which features a 374,155-square-foot dry grocery warehouse, a 132,184-square-foot freezer warehouse and a 21,119-square-foot truck maintenance building. Kroger has owned the property since 1992, but is in the process of relocating to the 1.2 million-square-foot, build-to-suit Gillem Logistics Center in Forest Park, Ga. Kroger will lease Bouldercrest from Highridge Provender for one year during the transition. Chris Cummings and Turner Wisehart of Colliers International’s Atlanta office represented the buyer in the transaction and will market the project for lease going forward.

March 3, 2016

Georgia Mixed-Use Southeast

Jamestown to Open The Roof at Ponce City Market in Atlanta

by John Nelson March 2, 2016

ATLANTA — Jamestown plans to open the final phase of Ponce City Market known as The Roof at Ponce City Market. Located on the roof of the mixed-use development, the project will feature boardwalk-style amusement games and rides, an 18-hole miniature golf course and a slide. On April 3, The Roof will host a miniature golf tournament organized by the Kyle Korver Foundation, Plywood People and the Jamestown Charitable Foundation. Proceeds from the event, called Putt! Putt! Putt!, will support 18 local charities in Atlanta. The Roof will open to the public in mid-2016. Jamestown hopes to pay homage to the Ponce de Leon amusement park, which was formerly situated at the site of Ponce City Market. Located along the Atlanta BeltLine in the Old Fourth Ward, Ponce City Market features 259 residential units, 550,000 square feet of Class A loft office space, 300,000 square feet of retail and restaurants and a pedestrian bridge linking the interior courtyard and public market to the BeltLine.

March 2, 2016

Georgia Retail Southeast

Preferred Apartment Communities Buys Publix-Anchored Shopping Center in Metro Atlanta

by John Nelson March 2, 2016

KENNESAW, GA. — Preferred Apartment Communities Inc., through its wholly owned subsidiary New Market Properties LLC, has acquired Wade Green Village in Kennesaw, roughly 25 miles outside of Atlanta. The 75,000-square-foot shopping center is anchored by a 47,814-square-foot Publix grocery store. The transaction involved the contribution of Wade Green Village in exchange for Class A units of the company’s operating partnership.

March 2, 2016

Candler Hotel Atlanta, Curio Collection by Hilton

Georgia Hospitality Southeast

Hilton Worldwide Signs Candler Hotel Atlanta to Curio Collection

by John Nelson March 1, 2016

ATLANTA — Hilton Worldwide has signed a franchise agreement to bring Candler Hotel Atlanta to its Curio – A Collection by Hilton brand. REM Associates LP owns the property, which will open as Candler Hotel Atlanta, Curio Collection by Hilton in late 2017 following extensive renovations. The hotel is situated in downtown Atlanta and neighbors Woodruff Park, Georgia State University’s Balzer Theatre and Rialto Center for the Arts. REM has selected Highgate Hotels to manage the hotel, which was formerly known as the Candler Building, a 110-year-old office building and Atlanta’s first steel skyscraper. Development Services Group is developing the hotel, and REM is partnering with The Beck Group for design-build architecture and construction services and NICOLEHOLLIS for interior design. Upon completion, the hotel will feature 265 guestrooms, an outdoor rooftop space and a grand lobby with a white marble staircase, original Tiffany windows and a restaurant and bar.

March 1, 2016

Georgia Loans Office Southeast

NorthMarq Capital Arranges $5.9M Acquisition Loan for Office Building in Metro Atlanta

by John Nelson March 1, 2016

MARIETTA, GA. — NorthMarq Capital has arranged a $5.9 million acquisition loan for a 106,000-square-foot office building located at 1090 Northchase Parkway in Marietta, a northern suburb of Atlanta. Johnny Rankin and Wanda Riggs Mack of NorthMarq Capital’s Atlanta office arranged the non-recourse loan through a local bank. The loan featured no pre-payment penalties and a 25-year amortization schedule.

March 1, 2016

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