Georgia

Chick-fil-A, Villa Savannah to Open Locations in Atlanta’s West Midtown District

by John Nelson August 7, 2015

ATLANTA — Chick-fil-A and Villa Savannah, a boutique fashion and home decor retailer based in Savannah, have signed on to open new locations in Atlanta’s West Midtown district. Frank Buonanotte, founder of The Shopping Center Group, and Jeff Stein, founder of Stein Investment Group, are the landowners of the two sites in West Midtown. Chick-fil-A will open a 4,500-square-foot store with double drive-thru access at the intersection of Northside Drive and Ethel Street, just south of 14th Street. Buonanotte and Stein acquired the site in October 2014. Villa Savannah has signed a lease for a new 2,700-square-foot store at Westside Ironworks, bringing the mixed-use development to 92 percent occupancy before completion. Chick-fil-A plans to open its new restaurant in December, and Villa Savannah plans to open in October. Other Westside Ironworks retailers opening in the near future include Dixon Rye, Tom+Chee, O-Ku and Barcelona.

August 7, 2015

Georgia Hospitality Southeast

MIG Real Estate Acquires Two Hilton-Branded Hotels in Savannah

by John Nelson August 6, 2015

SAVANNAH, GA. — MIG Real Estate has purchased two Hilton-branded hotels in Savannah’s midtown neighborhood for an undisclosed price. The two hotels, Hilton Garden Inn Savannah Midtown and Hampton Inn & Suites Savannah Midtown, are located on Abercorn Street roughly 3.5 miles from Savannah’s Historic District. Opened in 2007, the Hilton Garden Inn has nearly 3,500 square feet of meeting space and a heated outdoor pool and whirlpool, fitness center, restaurant and bar. The Hampton Inn & Suites opened in 2009 and offers 2,000 square feet of meeting space, as well as a fitness center and an indoor pool and spa. MIG has tapped Raleigh, N.C.-based Concord Hospitality Enterprises to operate the two hotels. Hodges Ward Elliott represented the seller, Atlanta-based North Point Hospitality, in the transaction.

August 6, 2015

Georgia Office Southeast

Grubb Properties Acquires Three Office Buildings in Atlanta’s Central Perimeter Submarket for $32.7M

by John Nelson August 5, 2015

ATLANTA — Grubb Properties has purchased three mid-rise office buildings in Atlanta’s Central Perimeter submarket from Atlanta Property Group for $32.7 million. The buildings, known as The Park at Perimeter Center East, total 284,500 square feet and are located north of I-285 and east of Ashford Dunwoody Road. Grubb Properties plans to invest $5.2 million in capital improvements for the office assets. This is the first office acquisition in the Atlanta area for Grubb Properties.

August 5, 2015

Georgia Office Southeast

Regent Partners Arranges 80,000 SF of New Leases at Concourse Corporate Center in Atlanta

by John Nelson August 3, 2015

ATLANTA — Atlanta-based Regent Partners has arranged 80,000 square feet of new leases at Concourse Corporate Center, a 64-acre, 2.2 million-square-foot office campus in Atlanta’s Central Perimeter submarket. The owner, Building and Land Technology (BLT), tapped Regent Partners to manage and lease the campus, which includes the famous “King and Queen” buildings. The center’s new tenants include 35,000 square feet for Amtrak for its North American IT headquarters. Since purchasing Concourse in April, BLT has made capital improvements to the property, including enhancements to restrooms, common areas, lobbies and public spaces, as well as additional capital for spec suites and tenant improvements.

August 3, 2015

Georgia Mixed-Use Southeast

The Elrod Group Brokers $2.9M Sale of Mixed-Use Project in Athens

by John Nelson August 3, 2015

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.

August 3, 2015

Georgia Industrial Southeast

Duke Realty to Develop 614,880 SF Spec Warehouse Near Atlanta Airport

by John Nelson July 31, 2015

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.

July 31, 2015

Georgia Mixed-Use Southeast

Franklin Street Brokers $5.9M Sale of Mixed-Use Asset in Metro Atlanta

by John Nelson July 31, 2015

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.

July 31, 2015

Georgia Multifamily Southeast

Franklin Street Brokers $3.3M Sale of Metro Atlanta Apartment Community

by John Nelson July 30, 2015

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.

July 30, 2015

Reliable Heating & Air Kennesaw 1305 Chastain Road

Georgia Industrial Southeast

Liberty Property Trust Signs 62,319 SF Industrial Lease in Metro Atlanta

by John Nelson July 30, 2015

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.

July 30, 2015

Georgia Retail Southeast

Franklin Street Brokers Sale of Shopping Center in Athens

by John Nelson July 29, 2015

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.

July 29, 2015

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