SANDY SPRINGS, GA. — Herndon, Va.-based SugarOak Holdings has purchased Roswell North, a 58,529-square-foot office building located at 8010 Roswell Road in Sandy Springs, a northern suburb of Atlanta. SugarOak purchased the asset from an unnamed private investor for $5.4 million. Built in 1986, the three-story office building was 94 percent leased at the time of sale. Kevin Markwordt and Todd Syprett of Transwestern represented the seller in the transaction.
SANDY SPRINGS, GA. — MidCity Real Estate Partners and Crocker Partners have formed a joint venture to co-develop NorthPlace, a 3.7-acre office campus located in Atlanta’s Central Perimeter office submarket at Barfield Road and Mount Vernon Highway in Sandy Springs. The campus will be visible from GA 400 and will be situated one block from Mercedes-Benz USA’s new headquarters and two blocks from the Sandy Springs MARTA station. Plans for NorthPlace include two towers spanning 250,000 square feet and 100,000 square feet. The site can also house build-to-suit opportunities ranging from 20,000 to 100,000 square feet for companies wanting to own their own property. MidCity will sell and lease the campus, and Roger White of MidCity will oversee day-to-day construction operations. Crocker Partners owns the site, and Crocker and MidCity have retained Warner Summers as the base building architect. In addition to office use, the site is also zoned for ground-floor retail space.
BRASELTON, GA. — Skyline Seven Real Estate has brokered the $5.1 million sale of Mulberry Walk, a 31,186-square-foot shopping center in Braselton, a northeast suburb of Atlanta. The property comprises three buildings located across from the Chateau Elan Winery and Resort. Elliott Kyle of Skyline Seven represented the seller, the shopping center’s developer, in the transaction. Franklin Adams of Adams Development Co., represented the buyer, a large private investor. Mulberry Walk was 97 percent leased at the time of sale.
JEFFERSON, GA. — Trammell Crow Co. (TCC) and Clarion Partners have formed a joint venture to purchase 122.5 acres of land along I-85 in Jefferson, roughly 60 miles northeast of Atlanta. The site will house Jefferson Mill Business Park, a new two-phase, Class A industrial park that will span nearly 1.8 million square feet. Phase I will feature an 822,257-square-foot bulk cross-dock warehouse and a 250,569-square-foot rear load distribution center. Construction will commence by the end of 2015 and be completed in 2016. Phase II of the park will be a 720,836-square-foot speculative or build-to-suit bulk cross-dock warehouse. Ben Logue and Price Weaver of Colliers International brokered the land sale and will also handle the leasing and marketing of the site on behalf of TCC and Clarion Partners.
CHAMBLEE, GA. — CONNOLLY, its affiliate Spruce Street Partners and Terwilliger Pappas have begun construction on Parkview on Peachtree, a transit-oriented, mixed-use development in Chamblee. The first phase of construction includes the demolition of existing vacant buildings and site grading. Set to open in 2017, Parkview on Peachtree will be located at the intersection of Peachtree Boulevard and Clairmont Road adjacent to the 45-acre Keswick Park. The mixed-use project will feature 40,000 square feet of restaurant and retail space, 14,000 square feet of loft office space and 503 multifamily units. Terwilliger Pappas will develop 303 multifamily units in Phase I at Solis Parkview, with another 200 planned for Phase II. Ed O’Connor of Lavista Associates Inc. and Mindy Elms of Vantage Realty Partners will handle retail and restaurant leasing, and Rob Binion and Brian Burks of Lavista Associates will handle office leasing.
SUWANEE, GA. — Marcus & Millichap has brokered the $3.7 million sale of Moore Road Village, a 20,000-square-foot retail strip center located at 991 Peachtree Industrial Blvd. in Suwanee, a northeast suburb of Atlanta. Built in 2008, the property’s tenant roster includes FedEx Office, American Body Works, T-Mobile and Riverside Pizza. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller, a private investor, in the transaction. Johnson and Giambrone also secured the buyer, which was also a private investor.
ALPHARETTA, GA. — Pollack Shores Real Estate Group has purchased a development site at 10105 Westside Parkway in Alpharetta for the construction of ECHO at North Point Center. Located near Top Golf, the boutique-style multifamily property will feature 111 residential units and 5,600 square feet of retail space. Each unit will feature shaker-style cabinetry, quartz countertops and plank flooring. Community amenities will include a resort-style pool, bocce ball court and a dog park. ECHO at North Point Center is scheduled to have the first units available in summer 2016. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the property upon completion.
SMYRNA, GA. — Walker & Dunlop Inc. has provided an $18.4 million loan for the refinancing of Jasmine at the Galleria Apartments, a 270-unit apartment community in Smyrna, a northwest suburb of Atlanta. The property offers one-, two- and three-bedroom apartment units in 19 apartment buildings. Jasmine at the Galleria’s community amenities include tennis courts, a swimming pool, gated access and a business center. Walker & Dunlop provided the 10-year loan that features five years of interest-only payments to the borrower, Lyon Communities. The loan, which Walker & Dunlop provided using Freddie Mac’s index-lock program, will refinance the Freddie Mac adjustable rate mortgage that was placed on the property 16 months ago.
ATLANTA — The RADCO Cos. has purchased two apartment communities in metro Atlanta totaling 554 units for a combined $53.4 million. The properties include Andover at East Cobb in Marietta and Crossing at McDonough in McDonough. Both properties offer apartments with one, two and three bedrooms. Community amenities include resort-style pools, fitness facilities and business centers with Wi-Fi. Each apartment complex is within one mile of I-75 and provides immediate access to major local corporations such as Dobbins Air Reserve Base in Marietta and Midland Industrial Park in McDonough. Atlanta-based RADCO will invest a combined $6.5 million to upgrade both properties through unit upgrades, amenity enhancements and exterior improvements. Andover at East Cobb will be rebranded as Winterset at East Cobb, and Crossing at McDonough will become Crossings at McDonough. RADCO purchased both assets from Wilkinson Real Estate Advisors Inc., and the two communities are now the third and fourth assets that RADCO and Wilkinson have traded together. CBRE brokered both transactions. RADCO’s portfolio now includes 44 multifamily assets with an additional 1,301 units under contract, which should close in September and October.
CHAMBLEE, GA. — Pattillo Industrial Real Estate and Parkside Partners Inc. have formed a joint venture, known as Trackside Partners LLC, to develop a Class A office project in Chamblee, a northeast suburb of Atlanta. The MARTA (Metropolitan Atlanta Rapid Transit Authority) board of directors selected the joint venture to develop the project, known as Trackside, on a 2.2-acre site located at Peachtree and Chamblee Tucker roads. MARTA owns the site, which is located across from the Chamblee MARTA station. Upon completion, the two-phase, 80,000-square-foot Trackside will be Chamblee’s first Class A office development. Trackside will serve as the new headquarters for Pattillo Industrial Real Estate, which will occupy 20,000 square feet of the four-story, 50,000-square-foot Trackside One building. Pattillo will relocate 35 employees in second-quarter 2017 from its current offices in Stone Mountain, Ga., where the firm has been headquartered since 1975. Pattillo’s office space will feature a rooftop deck and a two-level sky lobby with a walkway beneath a glass roof. Trackside Two will be a two-story, 30,000-square-foot office building that also features a single-level parking deck. Both phases will feature first-floor retail and restaurant space. Construction is scheduled to begin in second-quarter 2016 on Trackside One. Chad …
