Georgia

PEP Buys Student Housing Community Near Georgia Tech for $28M

by John Nelson January 15, 2015

ATLANTA — Pierce Education Properties (PEP) has purchased 100 Midtown, an off-campus student housing community serving Georgia Institute of Technology and Georgia State University students, for $28 million. KeyBank Real Estate Capital provided PEP with $14.3 million in debt financing for the acquisition. The 330-bed, 118-unit 100 Midtown is located across from the Georgia Tech campus in the heart of Midtown Atlanta. The fully furnished community features two- and four-bedroom units, each equipped with modern appliances and washers and dryers. PEP will be adding large, flat-screen TVs in every unit. Property amenities include a 24-hour fitness center, movie theater, computer lab, video gaming room, conference room and study rooms. 100 Midtown also houses a Chinese restaurant on-site, Chinese Buddha.

January 15, 2015

Georgia Office Southeast

NCR Corp. to Build World Headquarters in Midtown Atlanta, Satellite Campus in North Atlanta

by John Nelson January 14, 2015

ATLANTA — NCR Corp., a consumer transaction technologies company with approximately 29,000 employees worldwide, has entered into an agreement to build a new world headquarters campus in Midtown Atlanta. NCR also plans to maintain its presence in the northern suburbs of Atlanta with a second campus. The new headquarters will be located at Centergy North at Technology Square on Spring Street. The new campus will be ready late in 2017 or early in 2018. The location for the campus in the northern suburbs is yet to be finalized, but it is expected to open during a similar timeframe, according to NCR Corp. “Technology is a critical sector for our local economy and we are honored to have NCR locate its global headquarters in Atlanta,” says Atlanta Mayor Kasim Reed. “Every day, businesses are voting with their feet and choosing the city of Atlanta as the place to bring their dreams and build their businesses. The best companies in the world are building their brands here, strengthening our economy and confirming Atlanta’s place as a leading city for business.”

January 14, 2015

Georgia Retail Southeast

Atlanta’s Ponce City Market Reveals 13 New Retail Tenants

by John Nelson January 12, 2015

ATLANTA — Atlanta-based developer Jamestown has revealed 13 new retail tenants for its Ponce City Market development, a 2 million-square-foot, adaptive reuse project in Atlanta’s Old Fourth Ward neighborhood. Ponce City Market is a retrofitting of the 1920s-era Sears, Roebuck & Co. building on Ponce de Leon Avenue, which is located along the Atlanta Beltline. The property features a marketplace with a central food hall (opening in spring 2015), loft apartments and boutique office space. The retail tenant roster includes The Frye Company (4,135 square feet); Oakleaf & Acorn (700 square feet); The Jean Machine (1,200 square feet); Williams-Sonoma Home (9,251 square feet); Madewell (3,017 square feet); West Elm (13,750 square feet); Anthropologie (11,618 square feet); Mountain High Outfitters (6,900 square feet); Rejuvenation (6,000 square feet); Goorin Bros. Hat Shop (1,000 square feet); J. Crew (5,382 square feet); Michael Stars (1,539 square feet); and Lou Lou Accessories (1,200 square feet). The retailers will begin to open their stores in the spring in conjunction with the opening of the central food hall, according to the Atlanta Business Chronicle.

January 12, 2015

171 17th Street Atlanta Atlantic Station

Georgia Office Southeast

Georgia Tech Research Signs 24,829 SF Office Lease in Atlantic Station

by John Nelson January 12, 2015

ATLANTA — KBS Real Estate Investment Trust III (KBS REIT III) has signed a 24,829-square-foot office lease with Georgia Tech Research Corp. (GTRC) at 171 17th St. in Atlanta. The 21-story, Class A office tower at 171 17th St. is located in the Atlantic Station mixed-use development. The office building was the first LEED Silver Core and Shell-certified building in the world, according to KBS REIT III. Glenn Kolker and Sonia Winfield of Cassidy Turley represented KBS REIT III in the lease transaction.

January 12, 2015

Georgia Multifamily Southeast

Colliers Brokers Sale of Apartment Community in Metro Atlanta

by John Nelson January 5, 2015

BROOKHAVEN, GA. — Colliers International has brokered the sale of The Clairmont, a 288-unit apartment community located at 3078 Clairmont Road in Brookhaven, a northeast suburb of Atlanta. New York-based GFI Capital Resources Group Inc. sold the asset to an affiliate of Equus Capital Partners Ltd., which will rename the property Madison Brookhaven. Equus plans to invest $3 million in capital improvements to the property, which was 95 percent occupied at the time of sale. The apartment community features a clubhouse, fitness center, two pools and a dog park. Equus affiliate Madison Apartment Group will manage the property. Ron Cameron and Will Matthews of Colliers International’s Atlanta office represented GFI Capital in the transaction.

January 5, 2015

Georgia Industrial Southeast

TPA Group Underway on Two Industrial Projects in Metro Atlanta Totaling 1.7M SF

by John Nelson December 23, 2014

ATLANTA — TPA Group has broken ground on two industrial facilities in metro Atlanta totaling roughly 1.7 million square feet. The properties include the 1.1 million-square-foot Fairburn Logistics Center in South Fulton County and the 614,000-square-foot Broadway Distribution Center in Braselton. Fairburn Logistics Center is a cross-dock building that will be located on Bohannon Road adjacent to the CSX Intermodal facility. The property features 36-foot clear heights and heavy trailer and car parking. Broadway Distribution Center will be located on Broadway Avenue with direct access to I-85. Both facilities will be built on a speculative basis. Mark Hawks and Todd Barton of CBRE will spearhead leasing efforts at the two properties.

December 23, 2014

Georgia Retail Southeast

Ackerman & Co., Meddin Co. Broker Sale of Atlanta Retail Property for $11M

by John Nelson December 18, 2014

ATLANTA — Ackerman & Co., in partnership with The Meddin Co., has brokered the $11 million sale of Glenwood Park Retail in Atlanta. The seven-building, 48,515-square-foot property was more than 83 percent occupied at the time of sale to tenants such as Gunshow, Vickery’s and The Shed. Shea Meddin of Ackerman & Co., along with Stuart Meddin of The Meddin Co., represented the seller, Glenwood Park Builder LLC. The buyer was Coro Realty Advisors LLC.

December 18, 2014

Georgia Multifamily Southeast

Berkshire Group Buys Crescent Terminus in Atlanta’s Buckhead Neighborhood

by John Nelson December 17, 2014

ATLANTA — An affiliate of Boston-based Berkshire Group has purchased Crescent Terminus Community, a luxury apartment community in Atlanta’s Buckhead neighborhood, from Crescent Communities for an undisclosed price. The 355-unit is a three-building complex that features two rooftop terraces with an outdoor fireplace and TV, saltwater resort-style swimming pool, outdoor kitchen, tech lounge with Mac stations, wireless printing and a coffee bar. Crescent Terminus is part of a nine-property portfolio totaling 2,667 units that sold for a gross purchase price approaching $700 million. The portfolio’s purchasers were UBS and an affiliate of the Berkshire Group.

December 17, 2014

Georgia Multifamily Southeast

MHA Brokers $21.2M Sale of Apartment Community in Macon

by John Nelson December 17, 2014

MACON, GA. — Multi Housing Advisors (MHA) has brokered the $21.2 million sale of Adrian on Riverside, a 224-unit apartment community located at 5243 Riverside Drive in Macon. Robert Stickel of MHA’s Atlanta office represented the seller, Adrian Park LLC, the developer of the community. PEM Real Estate Group was the buyer. The apartment community was 95 percent occupied at the time of sale. The property’s amenity package includes a putting green, theater, playground, covered car wash center, fitness center, billiard room and a pool with a sundeck and picnic pavilion.

December 17, 2014

Georgia Multifamily Southeast

Moran & Co. Southeast Brokers $55.6M Sale of High-Rise Apartment Community

by John Nelson December 16, 2014

SANDY SPRINGS, GA. — Moran & Co. Southeast has brokered the $55.6 million sale of The Vue at Park Towers, a 300-unit high-rise apartment community located at 789 Hammond Drive in Sandy Springs, a suburb of Atlanta. Built in 1999, the property features a swimming pool, renovated clubhouse and leasing office, fitness center, tennis court and convenience mart. Sean Henry, Joel Sasser and John Huckaby of Moran & Co. Southeast represented the seller, Crescent Heights, in the transaction. The buyer was Austin, Texas-based CWS.

December 16, 2014

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