Thursday, July 17, 2025
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AcquisitionsGeorgiaRetailSoutheast

Franklin Street Brokers Sale of 116,766 SF Shopping Center in Metro Atlanta

by Hayden Spiess

DOUGLASVILLE, GA. — Franklin Street Retail Investment Sales has brokered the sale of Market Square, a 116,766-square-foot shopping center located in Douglasville, roughly 20 miles west of Atlanta. Tenants at the property, which was built in 1984 and renovated in 2019, include Aaron’s, YouFit, Pet Supermarket and Davita Dialysis. An entity doing business as SCC Market Square LLC sold the property to BC Waycross Spring Hill LLC for an undisclosed price. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction.

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WeWork
Company NewsGeorgiaOfficeSoutheast

WeWork to Close Five Locations in Atlanta

by Hayden Spiess

ATLANTA — Flexible workspace provider WeWork, which filed for Chapter 11 bankruptcy late last year, has completed its real estate restructuring in Atlanta, according to a press release from the company. The process, as in other cities, involved lease renegotiations with landlords. The Atlanta Journal-Constitution reports that WeWork now plans to close five of its 11 Atlanta locations. In April, the company announced a new $450 million investment to support operations throughout its Chapter 11 proceedings. WeWork’s current portfolio includes more than 24 million square feet of space across 330 locations globally. 

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Affordable HousingDevelopmentGeorgiaLoansSeniors HousingSoutheast

Berkadia Secures HUD-Insured Financing for $72M Affordable Seniors Housing Development in Atlanta

by John Nelson

ATLANTA — Berkadia has arranged financing for Englewood Senior, a 160-unit affordable seniors housing development in Atlanta. Located at 413 Englewood Ave. SE, the proposed $72 million development would offer independent living units for seniors earning 60 percent or less of the area median income (AMI). Planned amenities at the property include a fitness center, movie theater, community room and an outdoor courtyard.  Carolyn Whatley and Angela Folkers of Berkadia FHA/HUD secured the construction and permanent financing through HUD’s 221(d)(4) program. The undisclosed developer has also received low-income housing tax credit (LIHTC) equity and municipal funding.

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DevelopmentGeorgiaMultifamilySoutheast

Alliance Residential Delivers 340-Unit Prose Columbus Apartments in Georgia

by John Nelson

COLUMBUS, GA. — Alliance Residential Co. has opened Prose Columbus, a 340-unit apartment community located at 6700 River Road in Columbus. Situated less than 80 miles southwest of Atlanta via I-85, the multifamily development features one- and two-bedroom floor plans averaging 960 square feet in size. Monthly rental rates begin at $1,470, according to the property website. Designed by architect Dynamik Design, amenities include a resort-style, saltwater pool with tanning shelves and in-pool loungers, two grilling stations and a resident clubroom with an entertainment kitchen. Additional features include a 24-hour fitness center with Precor equipment, mailroom with Luxor parcel lockers, business center with coworking space and a fenced dog park. Prose Columbus represents the fourth Prose-branded community to open in Georgia. Alliance Residential recently completed Prose LaGrange as well and is under construction on its sixth and seventh Prose developments in the state: Prose Gainesville and Prose McDonough.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Arranges Sale of 220,380 SF Industrial Property in Stone Mountain, Georgia

by John Nelson

STONE MOUNTAIN, GA. — JLL has arranged the sale of a three-building, 220,380-square-foot industrial property located at 4600-4680 Lewis Road in Stone Mountain, about 21 miles east of Atlanta. Dennis Mitchell, Britton Burdette, Matt Wirth and Jim Freeman of JLL represented the seller, Brennan Investment Group, and procured the buyer, Faropoint. The sales price was not disclosed. The property is located on 9.8 acres about a half-mile south of U.S. Highway 78 and 3.5 miles from I-285. New WinCup Holdings Inc., a manufacturer of foodservice products with more than 60 years in business, is the sole tenant.

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DevelopmentGeorgiaIndustrialSoutheast

GF Casting Solutions Selects Augusta for $184M Manufacturing Plant

by John Nelson

AUGUSTA, GA. — GF Casting Solutions AG, a manufacturer of lightweight metal components for the transportation and energy industries, has selected Augusta as the site for a new plant. The company, a division of Swiss company Georg Fischer AG, will invest more than $184 million into the new facility. GF Casting’s LEED-certified facility will be situated within Augusta Corporate Park, a Georgia Ready for Accelerated Development site, and will produce cast-aluminum parts for the automotive industry. Operations are expected to begin in 2027 and create 350 new jobs for Richmond County. Civic and utility partners on the project include Georgia Power, the Georgia Department of Economic Development Global Commerce, Augusta Economic Development Authority, State of Georgia Europe Office and Georgia Quick Start.

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DevelopmentGeorgiaMultifamilySoutheast

SHR Resi Delivers 212-Unit Howell Apartments in Atlanta’s Upper Westside District

by John Nelson

ATLANTA — SHR Resi, a wholly owned subsidiary of local development firm Songy Highroads, has delivered The Howell, a 212-unit luxury apartment community in Atlanta’s Upper Westside neighborhood. Situated off the I-75 exit along Howell Mill Road, The Howell features a mix of one-, two- and three-bedroom apartments with 9- to 12-foot ceilings and open floor plans. Monthly rental rates start at $1,890, according to Apartments.com. Amenities include an open-air lounge on the seventh floor, 3,500 square feet of ground-level retail space, coworking space, a resort-style pool and pool deck, clubhouse, pet run and pet spa, fitness center and a gated and covered parking garage. Gables Residential is managing The Howell on behalf of SHR Resi.

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DevelopmentGeorgiaIndustrialSoutheast

Dermody Properties to Develop 325,620 SF Industrial Property in Villa Rica, Georgia

by John Nelson

VILLA RICA, GA. — Dermody Properties plans to develop LogistiCenter at Boggs Road, a two-building industrial development located in the western Atlanta suburb of Villa Rica. Hitachi Astemo Americas Inc., a global supplier of advanced mobility solutions for the automotive industry, has signed on as the sole tenant of Building 1, a 200,880-square-foot building near an existing manufacturing facility for Hitachi Astemo. Building I at LogistiCenter at Boggs Road will feature 32-foot clear heights, 72 trailer parking spaces and 99 car parking spaces. Building 2, which will total 124,740 square feet, will feature 28 dock-high doors, 23 trailer parking spaces, 94 auto spaces and 36-foot clear heights. Dermody Properties plans to open LogistiCenter at Boggs Road in the fourth quarter. Building 2 is available for prelease.

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AcquisitionsGeorgiaRetailSoutheast

FrostPoint Capital Purchases Unanchored Retail Center in Cumming, Georgia for $4.4M

by John Nelson

CUMMING, GA. — FrostPoint Capital has purchased Coal Mountain Shops, an unanchored retail center located at 3560 Browns Bridge Road in Cumming, a northeast suburb of Atlanta. The 15,600-square-foot property will serve as the gateway to Coal Mountain Town Center, a 140-acre mixed-use development under construction by Toll Brothers and Forsyth County. Conor Sweeney of Foundry Commercial represented both the buyer and seller in the $4.4 million transaction. FrostPoint Capital plans to reposition and expand the property in the near future.

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DevelopmentGeorgiaSelf-StorageSoutheast

Coro Realty to Develop Four Self-Storage Facilities in Georgia

by John Nelson

ATLANTA — Atlanta-based Coro Realty Advisors plans to develop four new self-storage facilities in Georgia. The recent developments include Auburn Avenue Storage in Columbus, Lake Lanier Storage in Flowery Branch, Ridgewalk Storage in Woodstock and Georgetown Storage in Dunwoody. Auburn Avenue Storage is a three-story building that adds 57,000 leasable square feet of climate-controlled storage space to Coro’s existing property, which the company has owned since 2018. Lake Lanier Storage is currently under construction. The two-story facility will provide 75,000 leasable square feet of climate-controlled storage and 49,000 square feet for boat and vehicle storage. Coro Realty recently acquired the land for Ridgewalk Storage, with plans to break ground on the 83,000-square-foot, two-story project this fall. Georgetown Storage, a four-story facility that will offer approximately 120,000 leasable square feet of storage space, is in the planning stage.

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