CARTERSVILLE, GA. AND RIVERVIEW, FLA. — Phillips Edison Grocery Center REIT II Inc. has purchased two grocery-anchored shopping centers in Cartersville and Riverview. The properties include the 375,067-square-foot Bartow Marketplace in Cartersville and the 78,442-square-foot Bloomingdale Hills in Riverview. Bartow Marketplace’s tenant roster includes a 204,170-square-foot Walmart Supercenter, and a 130,497-square-foot Lowe’s Home Improvement. Other tenants include Cricket Wireless, CPR Cell Phone Repair, Rue 21, World Finance Loans, Dollar Tree, Metro PCS, Pearle Vision, Gamestop, Peachstate Auto Insurance, Sally Beauty Supply and Payless Shoe Source. Bloomingdale Hills’ tenant roster includes a 57,756-square-foot Walmart Neighborhood Market, Happy’s Home Centers, Great Clips and Great Expressions Dental. As of April 14, 2016, Phillips Edison Grocery Center REIT II owns and manages 66 grocery-anchored centers totaling roughly 7.9 million square feet.
ALPHARETTA, GA. — New York Life Real Estate Investors has provided a $29.6 million for Brookside I and II, two Class A office buildings in Alpharetta totaling 267,000 square feet. Cushman & Wakefield’s Washington, D.C., office arranged the loan through New York Life on behalf of the borrower, Equus Investment Partnership X LP, a discretionary fund managed by Equus Capital Partners Ltd. The floating-rate loan features a five-year term.
CARTERSVILLE, GA. — Pattillo Industrial Real Estate has wrapped up construction on a 265,200-square-foot spec industrial facility within Cartersville Business Park. The building is situated on 34 acres at 731 Cassville White Road in Cartersville, a northwest suburb of Atlanta. The facility is roughly a half-mile from I-75 and features 30-foot clear heights, a white reinforced TPO roof system, 185-foot truck court, 24 dock high doors, an ESFR sprinkler system, T5 fluorescent lighting and 61 spaces for trailer parking.
ATLANTA — Atlanta-based Pellerin Real Estate has announced the name of its $20 million, 110,000-square-foot redevelopment project in Atlanta’s Grant Park neighborhood — The Beacon Atlanta. The project is a revitalization of six warehouses at 1039 Grant St. along the Atlanta BeltLine’s Southside Trail within blocks of Zoo Atlanta. Upon completion, The Beacon Atlanta will feature retail space, a fitness studio, wellness center, beauty salon, food market, loft office space and food and beverage production facilities. Construction is set to begin in late 2016, with a planned opening in the late summer of 2017.
LAWRENCEVILLE, GA. — Avison Young’s Atlanta office has arranged a 91,000-square-foot office lease at 1715 N. Brown Road in Lawrenceville, a northeast suburb of Atlanta in Gwinnett County. Sage Software, an accounting and business management software firm, will lease the space for five years. Chet Koenig of Avison Young represented the landlord, Clarion Partners, in the lease transaction.
ATLANTA — Charlotte-based FCA Partners has announced three new tenants joining The Exchange, a 44,500-square-foot retail center in Atlanta’s Buckhead district. The new tenants joining the previously announced Storico Fresco Pasta and YEAH! Burger include SculptHouse, Kohler Signature Showroom and Kale Me Crazy. SculptHouse, a boutique fitness destination, will occupy 3,600 square feet; Kohler Signature Showroom, a home furnishing store, will occupy 7,100 square feet at the “elbow” of the property along the connecting paseo; and Kale Me Crazy will occupy 1,300 square feet for its newest superfood café. The project is a redevelopment of the former Buckhead Exchange. FCA Partners expects for construction on the redevelopment to wrap up this month. Stephanie McCall of The Shopping Center Group is The Exchange’s exclusive leasing agent.
KATHLEEN, GA. — Walker & Dunlop has closed a $19.9 million acquisition loan for Houston Lake, a 300-unit, Class A apartment complex in Kathleen, roughly 20 miles south of Macon. Dustin Swartz of Walker & Dunlop’s Bethesda, Md., office led the team that structured the 10-year, fixed-rate loan through Freddie Mac’s CME program on behalf of the borrower, Denver-based Miller Frishman Group. The loan features three years of interest-only payments. Approximately 35 percent of the community’s residents are active and civilian military employees at nearby Robins Air Force Base, which is located about 14 miles southwest of Houston Lake. Built in 2008, the property features gated access, walking trails, poolside grills, a clubhouse, fitness center, playground, basketball court and a tennis court.
BROOKHAVEN, GA. — Emory University has purchased roughly 60 acres of commercial property at Executive Park, an office park located near the interchange of North Druid Hills Road and I-85 in Brookhaven. The private university purchased the property, totaling roughly 400,000 square feet of office space in nine buildings, from Equity Commonwealth for an undisclosed price. Emory has several programs operating at Executive Park, including Orthopaedics, Brain Health, Medical Science Education, Continuing Education and Health Information Technology, according to James Wagner, president of Emory University.
ATLANTA — Rubenstein Partners LP has purchased Interstate North Office Park, an 11-building, 985,490-square-foot business park in Atlanta’s Cumberland/Galleria office submarket. Rubenstein Partners purchased the development, which was 60 percent leased at the time of sale, from Aegon USA for $90 million. The 67-acre office park is located adjacent to SunTrust Park, the Atlanta Braves’ new baseball stadium set to open at this time next year, as well as the $1 billion The Battery Atlanta mixed-use development surrounding the ballpark. Rubenstein Partners has retained Caroline Nolen and Andy Sumlin of Cushman & Wakefield to lease and manage the office park.
ATLANTA — The Allen Morris Co., a Coral Gables, Fla.-based real estate developer, has announced plans for Star Metals, a $210 million mixed-use development in Atlanta’s West Midtown neighborhood. The project will feature an upscale apartment building known as Star Metals Residences and a 12-story office building known as Star Metals Offices. The buildings, which will both feature ground-floor retail space, will be situated across Howell Mill Road from one another. “Although Atlanta has always been a great place to live and work, West Midtown’s cultural center of gravity is becoming stronger and the economic and lifestyle potential is greater than ever before,” says W. Allen Morris, chairman and CEO of The Allen Morris Co. “We see our sites as fundamental building blocks and a keystone in West Midtown’s evolution where tenants and residents can enjoy a well-rounded lifestyle.” Oppenheim Architecture + Design LLP is the lead architect for both buildings. Warner Summers Architecture and Interior Design is designing the interior of Star Metals Offices, and DWELL Design Studio and Lord Aeck Sargent are teaming up for Star Metals Residences’ interior work. “We are proud to have assembled world-class architectural teams that believe in developing projects that enhance Atlanta and …