Georgia

Grady Health System Expands Footprint at Hurt Building in Downtown Atlanta

by John Nelson February 3, 2016

ATLANTA — Grady Health Systems has expanded its lease by 23,970 square feet at Hurt Building, a 17-story, 436,340-square-foot office building located at 50 Hurt Plaza in downtown Atlanta. Grady’s footprint at Hurt Building totals more than 80,000 square feet. Grady Health System consists of the 953-bed Grady Hospital, six neighborhood health centers, Crestview Health & Rehabilitation Center and Children’s Healthcare of Atlanta at Hughes Spalding, which is operated as a Children’s affiliate. David Barry and Adam Blue of Boxer Property represented Grady in the lease transaction.

February 3, 2016

Georgia Office Southeast

Avison Young Brokers $30.1M Sale of 303,000 SF Office Building in Metro Atlanta

by John Nelson February 2, 2016

KENNESAW, GA. — Avison Young has arranged the $30.1 million sale of Chastain Center, a 303,000-square-foot office building located on Chastain Boulevard in Kennesaw’s Town Center submarket. Matt Tritschler, Steve Morgan and Stephanie Marion of Avison Young represented the seller, Parthenon Realty, in the transaction. The buyer was TerraCap Management LLC. Built in 1987, Chastain Center was 67 percent leased at the time of sale to tenants such as Aaron’s Inc., Applied Global Technologies, First Arkansas Bank & Trust/Card Assets and Markem-Imaje.

February 2, 2016

Georgia Multifamily Southeast

Multi Housing Advisors Brokers $18.2M Sale of Two Apartment Complexes in Savannah

by John Nelson February 1, 2016

SAVANNAH, GA. — Multi Housing Advisors (MHA) has brokered the $18.2 million sale of Clover Village at Vernon Marsh and Clover Village at White Bluff, two apartment properties in Savannah that total 298 units. Robert Stickel of MHA represented the seller, Clover Group, in the sale. McDowell Properties purchased both properties. The adjacent developments are located along White Bluff Road at the intersection of Abercorn Street and Harry Truman Parkway. The Vernon Marsh asset was built in 1986 and the White Bluff project was built in 1985.

February 1, 2016

East Cherokee Village Shoppes 6236 Holly Springs Parkway Woodstock

Georgia Retail Southeast

Transwestern Brokers $13M Sale of Publix-Anchored Center in Metro Atlanta

by John Nelson February 1, 2016

WOODSTOCK, GA. — Transwestern’s Southeast investment services group has arranged the $13 million sale of East Cherokee Village Shoppes, a Publix-anchored shopping center located at 6236 Holly Springs Parkway in Woodstock, a northern suburb of Atlanta. New Orleans-based PMAT Cos. acquired the 128,667-square-foot property for roughly $101 per square foot from a private seller. The asset was developed in 2003. Fred Victor and Kevin Markwordt of Transwestern represented the seller in the transaction.

February 1, 2016

The Realty Building 24 Drayton Street Savannah

Georgia Mixed-Use Southeast

Colliers Arranges $7.9M Sale of Realty Building in Savannah’s Historic District

by John Nelson January 29, 2016

SAVANNAH, GA. — Colliers International’s Savannah office has brokered the $7.9 million sale of the iconic Realty Building in historic downtown Savannah. Built in 1921, the 10-story, 55,560-square-foot building is located at 24 Drayton St. The mixed-use property features ground-floor retail space leased to Rivers & Glen Trading Co. and Ameris Bank, as well as office space throughout the remainder of the building. The Realty Building was 95 percent leased at the time of sale. Ashley Smith of Colliers represented the seller, SCG II-Drayton LLC, in the transaction. Smith also leased the building on behalf of the previous owner. The buyer, 24 Drayton Street Properties LLC, was self-represented.

January 29, 2016

Georgia Industrial Southeast

Graham Commercial Properties Acquires 209,780 SF Distribution Center in Atlanta for $7.1M

by John Nelson January 29, 2016

ATLANTA — Birmingham-based Graham Commercial Properties (GCP) has purchased a 209,780-square-foot distribution center located at 1040 Southern Road in Atlanta for $7.1 million. The 10-acre development has rail access to the Norfolk Southern railroad system, which was a deciding factor for the current tenant, M & W Distribution Services. The industrial facility is GCP’s first acquisition in Georgia. GCP is a recently formed real estate holding and management company and sister firm of Graham & Co. LLC.

January 29, 2016

5850 Peachtree Industrial Blvd Peachtree Corners

Georgia Industrial Southeast

Avison Young Brokers $9.4M Sale of Industrial Property in Metro Atlanta for High School Conversion

by John Nelson January 28, 2016

PEACHTREE CORNERS, GA. — Avison Young has brokered the $9.4 million sale of a 221,000-square-foot industrial facility located at 5850 Peachtree Industrial Blvd. in Peachtree Corners, a northeastern suburb of Atlanta. Chip Watson and Brent Weitnauer of Avison Young’s Atlanta office represented the seller, Makim Holdings, in the transaction. The buyer, Gwinnett County Schools, plans to convert the facility and surrounding 20 acres of land into a new high school.

January 28, 2016

Georgia Retail Southeast

The Boulder Group Brokers $3.6M Sale of CVS/pharmacy in Metro Atlanta

by John Nelson January 28, 2016

DECATUR, GA. — The Boulder Group has arranged the $3.6 million sale of a 10,125-square-foot CVS/pharmacy located at 4037 Glenwood Road in Decatur, a suburb of Atlanta. Originally built in 1999, the asset has 21 years remaining on a recently extended lease, which features five five-year renewal option periods with 5 percent rental escalations in each period. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate institution based in Atlanta’s East Cobb district, in the transaction. The buyer was a high net worth family trust.

January 28, 2016

Georgia Retail Southeast

BayView Advisors Arranges $9.2M Sale of Self Storage Portfolio in Metro Atlanta

by John Nelson January 26, 2016

MABLETON AND CONYERS, GA. — BayView Advisors has arranged the $9.2 million sale of a two-property portfolio of Pak-It-Inn self storage facilities in the Atlanta suburbs of Mableton and Conyers. The portfolio includes 155 climate controlled units, 727 non-climate controlled units and one retail unit. Jay Crotty and Thomas Doyle of BayView Advisors represented the seller, Pak-It-Inn Self Storage Inc., and the buyer in the transaction.

January 26, 2016

Georgia Market Reports Retail Southeast Southeast Market Reports

Mixed-Use Projects with Grocery Anchors Top the Bill for Atlanta Retail Market

by John Nelson January 25, 2016

Economic indicators that support the retail market in Atlanta, like unemployment and the addition of non-farm payroll jobs, show positive signs that the sector has recovered from the economic downturn. Unemployment dropped to 6.1 percent in July 2015, compared with 7.6 percent a year earlier, and companies are showing no signs of slowing down on the hiring process. Non-farm payroll jobs in July reached 2.58 million, an increase of 85,000 jobs, or 3.4 percent, from a year ago. Atlanta’s vacancy rate continues to fall, dropping from 8.1 percent earlier this year to 7.9 percent in the second quarter, according to CoStar. While space is hard to come by, the good news is that some developments are popping up. In fact, during the second quarter, 12 buildings were completed totaling 208,524 square feet. Mixed-use projects featuring multifamily units are still active, particularly when a grocery store anchor is involved. Fuqua Development is building a six-acre project on Piedmont Road near Cheshire Bridge Road that will feature 300 apartment units, as well as 34,000 square feet of retail space. Sprouts Farmers Market will anchor the retail space with a 26,000-square-foot store. Fuqua Development also broke ground on Kennesaw Marketplace in June. Academy …

January 25, 2016

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