ATHENS, GA. — The Elrod Group, a division of Coldwell Banker Commercial Upchurch Realty, has brokered the $2.9 million sale of Franklin House, a 21,000-square-foot mixed-use building located at 480 E. Broad St. in Athens. Built in 1845, the Franklin House encompasses 3,100 square feet of retail space, 5,700 square feet of office space and seven apartment residences. Brian Elrod and Daniel Bennett of The Elrod Group represented both the seller and the buyer in the transaction.
EAST POINT, GA. — Duke Realty’s Atlanta office plans to develop a 614,880-square-foot speculative warehouse in Camp Creek Business Center. Duke Realty owns the 400-acre industrial park, located off I-285 near Hartsfield-Jackson Atlanta International Airport. The property will be located at 4909 N. Commerce Drive in East Point and will feature 36-foot clear heights, 125 dock doors, 337 automobile parking spaces, 125 trailer parking spaces. The development also includes land that can be used for tenants to build concrete truck courts. Duke Realty plans to deliver the asset in January 2016.
WOODSTOCK, GA. — Franklin Street Real Estate Services has brokered the $5.9 million sale of a mixed-use asset in downtown Woodstock, a northern suburb of Atlanta. Built in 2014, the Class A property features 23 apartment residences and 8,624 square feet of retail space. Jake Reid and Ricky Jones of Franklin Street represented the undisclosed seller in the transaction.
BROOKHAVEN, GA. — Franklin Street Real Estate Services has brokered the $3.3 million sale of North Cliff Valley Apartments, a townhome apartment community located at 1350 N. Cliff Valley Way N.E. in Brookhaven, an affluent suburb of Atlanta. The apartment complex is located within close proximity to Cross Keys High School and I-85. Jake Reid and Ricky Jones of Franklin Street represented the seller in in the transaction. The apartments were the second property in a two-property sale, which included the previous sale of Lenox Townhomes.
KENNESAW, GA. — Liberty Property Trust has inked a 62,319-square-foot lease with Reliable Heating & Air at 1305 Chastain Road in Kennesaw, a northern suburb of Atlanta. The HVAC company’s lease brings the 116,500-square-foot industrial facility to full occupancy. The Kennesaw location will serve as Reliable’s headquarters. Reliable employs more than 320 professionals, manages a fleet of more than 175 trucks and operates a satellite location in Fayetteville, Ga. Kevin Mitchell of Benchmark Commercial represented Reliable in the lease transaction. Trey Barry and Mark Hawks of CBRE represented Liberty.
ATHENS, GA. — Franklin Street Real Estate Services has brokered the sale of Athens Plaza, a 119,633-square-foot shopping center located at 474 North Ave. in Athens. Built in 1972, the property is anchored by a Piggly Wiggly. Mac McCall, John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, MB REO-GA RETAIL LLC, in the transaction. Cideco Development Co. Inc. purchased the property for an undisclosed price.
ATLANTA — ULI Atlanta has appointed Kevin Cantley, president and CEO of Atlanta architecture firm Cooper Carry, as the next chair of ULI Atlanta — which covers Georgia, Alabama and Eastern Tennessee. Cantley has been a member or the Urban Land Institute (ULI) since 1995. Cantley joined the national architecture firm in 1980 and has directed the design of corporate headquarters, office, residential, transit, retail, educational and mixed-use projects. Cantley has earned many awards for his designs, including the Development of Excellence from the Atlanta District Council of ULI. He is active in ULI’s Transit Oriented Development Council, Livable Communities Council and its Management Committee. “I became aware of ULI in the early 70s, while in college studying architecture. Its mission was compelling to me and aligns with my professional and personal interests,” said Cantley. “Because of its broad and diverse membership, its dedication to responsible use of land, ULI has a positive impact globally and at the community level. I’m honored to be the next chair of the Atlanta district and motivated to contribute to that positive impact.” In addition to his involvement with ULI, Cantley is a member of AIA and NAIOP, for which he chairs its Urban …
ATLANTA — The Brookdale Group has commenced a multimillion dollar capital improvement program for 3445 Peachtree, a 14-story, 287,000-square-foot office building in Atlanta’s Buckhead submarket. The Atlanta-based private equity firm purchased both 3445 Peachtree and The Pinnacle building next door in January 2015. The renovations to 3445 Peachtree, formerly known as Two Live Oak, include an overhaul to the lobby, modernized elevators, landscaping upgrades, enhanced front and garage entrances and a freshly painted exterior. The lobby upgrades are expected to be finished in October and the remaining renovations will be completed in early 2016. The Brookdale Group has tapped Niles Bolton Associates as the architect for the renovations and Transwestern as the construction manager. DTZ currently provides agency leasing services at the building, and Transwestern provides property management services. Originally built in 1969, 3445 Peachtree is now ENERGY STAR rated and is currently 82 percent leased to 23 national and regional tenants. The property is operated in tandem with The Pinnacle building.
SANDY SPRINGS, GA. — SRS Real Estate Partners (SRS) has brokered three new leases at Gateway, a 21-acre, 121,071-square-foot mixed-use development in Sandy Springs, a suburb of Atlanta. The development project, owned by Core Property Capital, consists of 630 apartment units, a 20,000-square-foot office component and 100,000 square feet of retail space. New stores will include a 1,530-square-foot Buttermilk Sky Pie Shop, an 850-square-foot Kale Me Crazy and a 2,765-square-foot flagship BLAST fitness studio. Adrienne Crawford and Lily Heimburger of SRS represented Core Property Capital in all three transactions. Steve Shuler of Shuler Properties LLC represented Buttermilk Sky Pie Shop, Shaun Weinstock of Weinstock Realty & Development represented Kale Me Crazy and Jenna Schulten of Richard Bowers & Co. represented BLAST Fitness.
MORROW, GA. — Chicago-based Stage Equity Partners LLC has sold a 37,813-square-foot medical office building at 1000 Corporate Center Drive in Morrow, a suburb of Atlanta. The healthcare real estate investment firm sold the fully leased asset to an unnamed private healthcare REIT for $7.5 million in an off-market transaction. The multi-tenant property is anchored by Clayton Eye Center and Atlanta Medical Center. The sale comes upon the completion of Stage Equity’s exterior and interior renovations to the property.
