POOLER, GA. — Developer Carolina Holdings Inc. has opened Mill Creek Landing, a retail strip center located at 6 Mill Creek Circle in Pooler, roughly 10 miles outside of Savannah. The property is located at the intersection of Pooler Parkway and I-95 in front of Sam’s Club and adjacent to the new Tanger Outlets Savannah, which opened in April of this year. Mill Creek Landing’s tenant roster includes Chipotle Mexican Grill and Five Guys Burgers and Fries, the first locations in Pooler for both restaurants. The development team included architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Harper Corp. GrandSouth Bank provided construction financing for the project.
DAWSONVILLE, GA. — Blanchard Real Estate will develop a Kroger-anchored power center in Dawsonville, part of the Atlanta MSA. The Kroger Marketplace store will span 123,000 square feet and feature a fuel center. Blanchard has also secured commitments from national retail tenants totaling roughly 200,000 square feet. The new power center is located adjacent to the North Georgia Premium Outlets, which attracts roughly 7.5 million visitors annually. Blanchard is slated to break ground on the shopping center late this summer.
COLUMBUS, GA. — HFF has brokered the $20.2 million sale of Bradley Park Crossing, a 116,768-square-foot retail power center located at 1591 Bradley Park Drive in Columbus, roughly 100 miles south of downtown Atlanta. The property’s tenant roster includes The Fresh Market, PetSmart, Michael’s and Hibbett Sports. Jim Hamilton, Richard Reid and Mike Allison of HFF represented the seller, DDR Corp., in the transaction. The Rosen Group purchased the asset free and clear of existing debt.
ATLANTA — Porsche Cars North America (PCNA) has opened its new $100 million Porsche Experience Center (PEC) and headquarters in Atlanta. The 27-acre complex, which is located at the northeast corner of Hartsfield-Jackson Atlanta International Airport, is the largest investment ever outside Germany for the sports car manufacturer. The facility is complete with a driver development track, classic car gallery, restoration center, human performance center, driving simulator lab and a fine dining restaurant. The property’s business center features 13,000 square feet of conference and event space. An estimated 30,000 guests are expected to visit the PEC each year. PCNA has called the Atlanta area home since 1998. PCNA is now joined by Porsche Financial Services, Porsche Business Services, Porsche Consulting and Mieschke Hofmann & Partners, with all five entities housed at the new facility. Roughly 450 employees will be based at the new headquarters, over 100 of whom fill positions that are new to Georgia.
SAVANNAH, GA. — Meridian Capital Group has arranged an $18.2 million acquisition loan for Holiday Inn Savannah Historic District in Savannah. The five-story, 127-room hotel is located at 15 Martin Luther King Jr. Blvd. in Savannah’s Historic District. The hotel opened in 2007 as a Four Points by Sheraton and was renovated and rebranded in 2014. Noam Kaminetzky of Meridian’s Boca Raton, Fla., office arranged the two-year, interest-only loan through a balance sheet lender with an exit to CMBS execution. The floating-rate loan features a one-year extension option. The unnamed borrower is a large international hotel operator, according to Meridian Capital Group.
ATLANTA — Hodges Ward Elliott has brokered the sale of the dual-branded Hilton Garden Inn/Homewood Suites Atlanta Midtown. The 12-story, 228-room property is located in Atlanta’s Midtown district near I-75/85. The hotel features 136 Hilton Garden Inn rooms, 92 Homewood Suites units, a 24-hour fitness center, two business centers, two breakfast areas, two lobbies and reception desks, the Garden Grill & Bar restaurant and 3,027 square feet of meeting space. Hodges Ward Elliott represented the seller, North Point Hospitality Group Inc., in the transaction. The buyer was Carey Watermark Investors Inc. Crescent Hotels & Resorts will manage the hotel.
ROSWELL, GA. — Greystone has closed a $64.3 million Freddie Mac loan for Park 83, a 664-unit multifamily property in Roswell, a suburb of Atlanta. Greystone provided a $60.5 million bridge loan for the acquisition of the property in 2014. Park 83 features two swimming pools, a fitness center, nature trails, tennis courts, volleyball court, dog park and a playground. As of the end of 2014, the asset was 96 percent occupied. Keith Hires and Tim Wright of Greystone closed the seven-year Freddie Mac loan, which features three years of interest-only payments and a 30-year amortization schedule. Hires and Wright closed the loan on behalf of the borrower, Cortland Partners.
ATLANTA — Charlotte-based FCA Partners has announced the redevelopment plans for Buckhead Exchange, a 48,500-square-foot retail center located at Peachtree Road and Grandview Avenue in Atlanta’s Buckhead neighborhood. The plans call for the shopping center to be transformed into a pedestrian-friendly retail and dining development. A portion of the center will be demolished to make way for a paseo that will connect the east-facing storefronts with those facing Peachtree Road and Grandview Avenue. Demolition is scheduled to begin this month and be completed in phases by early 2016. New tenants slated to open at Buckhead Exchange include Storico Fresco Alimentari Ristorante e Mercato and YEAH! BURGER. Formerly a division of Faison Enterprises, FCA Partners has invested more than $600 million in equity on behalf of institutional capital since the mid-1990s. FCA Partners acquired Buckhead Exchange in 2013 from Principal Financial for $15.2 million.
FOREST PARK, GA. — A joint venture between Sealy & Co. and AEW Capital Management have sold Overmyer Way Industrial Park in Forest Park, a major industrial submarket located south of Atlanta. The buyer and sales price were undisclosed. The 242,000-square-foot development featured 28-foot clear heights, truck courts, outdoor storage options and spaces ranging from 20,000 to 80,000 square feet. The joint venture purchased the industrial park in 2014.
ATLANTA — The Atlanta Braves and Omni Hotels & Resorts have partnered to develop a new Omni hotel in the mixed-use development adjacent to SunTrust Park in Cobb County. Known as the Omni Atlanta Northwest Hotel, the property will span 16 floors and feature 260 guest rooms. The hotel will comprise 12,500 square feet of meeting space, a signature restaurant and an elevated pool deck and bar overlooking the plaza and ballpark. Groundbreaking for the Omni Atlanta Northwest Hotel is expected to occur later this year. The Dallas-based hospitality company has 60 hotels and resorts in the top markets across the U.S., including the Omni Atlanta Hotel at CNN Center. SunTrust Park is set to open by April 2017 and will be the new home to the Atlanta Braves.