Georgia

Lakeshore-Mall-Redevelopment_Gainesville-Ga

Branch Properties Plans Mixed-Use Redevelopment of 492,798 SF Lakeshore Mall in Gainesville, Georgia

by Hayden Spiess November 26, 2024

GAINESVILLE, GA. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta. Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes. Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new space within the development. The Atlanta-based developer, which acquired the property in 2022, will soon initiate the development of regional impact (DRI) process with the Georgia Department of Community Affairs (DCA), with the groundbreaking scheduled for late 2026. Len Erickson of Franklin Street will handle retail leasing at the development in partnership with Branch Properties. Originally opened in 1970, Lakeshore Mall is located off Dawsonville Highway near Lake Lanier. According to the U.S. Census Bureau, Gainesville has seen a population increase of roughly 15 percent since 2020. “This reimagined mixed-use destination redefines Lakeshore as a dynamic, pedestrian-friendly community hub tailored to meet the needs of Gainesville, one of Georgia’s …

November 26, 2024

Acquisitions Georgia Industrial Southeast

JLL Arranges $100.6M Sale of New Bulk Industrial Building in Savannah

by John Nelson November 25, 2024

SAVANNAH, GA. — JLL has arranged the $100.6 million sale of Rockingham Farms Building 9, a 942,210-square-foot industrial facility located at 125 Feldspar Drive in Savannah. The seller, Scannell Properties, developed the bulk industrial building in 2023 within Rockingham Farms Logistics Park, a 5.8 million-square-foot industrial development approximately nine miles from Port of Savannah’s Garden City terminal. Goldman Sachs Alternatives purchased the facility, which was fully leased at the time of sale to four tenants. Britton Burdette, Matt Wirth, Dennis Mitchell and Jim Freeman of JLL represented the seller in the transaction. The cross-dock building features 40-foot clear heights, 185-foot truck court, 183 dock-high doors, 7,500 square feet of offices and ample automobile and trailer parking.

November 25, 2024

Acquisitions Georgia Retail Southeast

Coro Realty Trades Shopping Center in Alpharetta, Georgia to Mimms for $19M

by John Nelson November 22, 2024

ALPHARETTA, GA. — Coro Realty Advisors has sold North Point Village, a 57,219-square-foot shopping center in the northern Atlanta suburb of Alpharetta. Mimms Enterprises purchased the property from Coro Realty for $19 million. Fred Victor of Atlantic Retail brokered the transaction. Situated on 5.2 acres near Ga. Highway 400, North Point Village’s tenant roster includes Talbots, Kohler and Learning Express. The 1.3 million-square-foot North Point Mall is immediately adjacent to the center.

November 22, 2024

Acquisitions Georgia Multifamily Southeast

FCP Sells Atlanta Apartment Community to Monday Properties, RSN Property Group for $36.8M

by John Nelson November 21, 2024

ATLANTA — FCP has sold Villas at Princeton Lakes, a 210-unit apartment community located at 751 Fairburn Road SW in west Atlanta. A partnership between Monday Properties and RSN Property Group purchased the garden-style complex for $36.8 million. Travis Presnell and James Wilber of Cushman & Wakefield represented FCP in the transaction. Built in 2004, Villas at Princeton Lakes offers a mix of one-, two- and three-bedroom floor plans. FCP had originally purchased the community in late 2020 for $30 million, including the assumption of an existing mortgage, and implemented upgrades to the property’s common areas and exteriors.

November 21, 2024

Acquisitions Georgia Hospitality Southeast

Hunter Brokers Sale of 96-Room Fairfield Inn & Suites Hotel Near Mall of Georgia

by John Nelson November 20, 2024

BUFORD, GA. — Locally based Hunter Hotel Advisors has brokered the sale of Fairfield Inn & Suites Atlanta Buford Mall of Georgia, a 96-room hotel located off I-85 in the Atlanta suburb of Buford. Woodvale acquired the property from Hotel Equities for an undisclosed price. Lee Hunter and David Perrin of Hunter Hotel Advisors facilitated the transaction. The hotel is situated in close proximity to its namesake mall, as well as other attractions including The Exchange & Gwinnett, which features a Topgolf, and Lake Lanier. Woodvale plans to fully renovate all guest rooms and public areas, including the hotel’s fitness center, meeting spaces and an indoor pool. Hotel Equities had owned the Fairfield Inn & Suites hotel for nine years.

November 20, 2024

Acquisitions Georgia Retail Southeast

Hanley Arranges $25M Sale of New Publix-Anchored Shopping Center in Dacula, Georgia

by John Nelson November 15, 2024

DACULA, GA. — Hanley Investment Group Real Estate Advisors has arranged the $25 million sale of Publix at Harbins 316, a grocery-anchored shopping center located at 952 Harbins Road in Dacula, an Atlanta suburb in Gwinnett County. Built in 2023, the 69,807-square-foot shopping center is situated near the new Ga. Highway 316 and U.S. Highway 29 intersection. The property was fully leased at the time of sale to tenants including Publix, Great Clips, Starbucks Coffee, Jersey Mike’s Subs, Wingstop, The UPS Store and Heartland Dental. Ed Hanley and Kevin Fryman of Hanley, along with ParaSell Inc., represented the buyer, a 1031 exchange investor based in San Diego, in the transaction. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Atlanta-based Watkins Real Estate Group.

November 15, 2024

Alabama Data Centers Development Georgia South Carolina Southeast Top Stories

DC BLOX to Develop 68-Acre Data Center Campus in Metro Atlanta, Three New Data Centers Across Southeast

by John Nelson November 15, 2024

ATLANTA — DC BLOX will develop four new data centers in the Southeastern United States. The company is currently underway on its 68-acre Atlanta East campus in Conyers, Ga., roughly 24 miles east of downtown Atlanta. The facility will consist of two buildings with more than 1 million square feet of data center space at full build-out. The campus will initially deliver 10 megawatts (MW) of power for an undisclosed hyperscale client, with an expansion capacity of up to 120 MW for additional clients. Data center power refers to the amount of energy required to operate all the components of the facility, including servers and related IT hardware, as well as the cooling systems. DC BLOX broke ground on the project in September 2024. Delivery is slated for the fourth quarter of 2025. “DC BLOX’s presence in Conyers is a transformative step for our region,” says Kevin Hanna, president of the development authority of Rockdale County through the Conyers Rockdale Economic Development Council. “Their collaboration with local stakeholders and commitment to innovation will be foundational for future tech investments in our community.” In conjunction with the Atlanta East data center, DC BLOX will build a network of fiber cables around …

November 15, 2024

Acquisitions Georgia Industrial Southeast

Marcus & Millichap Brokers $8.2M Sale of Flex Industrial Property in Kennesaw, Georgia

by John Nelson November 13, 2024

KENNESAW, GA. — Marcus & Millichap has brokered the $8.2 million sale of Noonday Business Center, a 66,000-square-foot flex industrial facility located at 771 Shallowford Road in Kennesaw, a northwest suburb of Atlanta. Ani Paulson and Mason Bierster of Marcus & Millichap marketed the property for sale and also procured the buyer in the transaction. Both parties requested anonymity. Paulson says the buyer’s winning bid was for $230,000 over the asking price and came in at a 5.12 percent cap rate. Built in 2001 near State Route 92 and I-575, Noonday Business Park was fully leased to a diverse tenant mix at the time of sale.

November 13, 2024

Florida Georgia Kentucky Loans Retail Southeast Tennessee

CBRE Arranges $171.4M Refinancing for Southeast Shopping Center Portfolio

by John Nelson November 12, 2024

ATLANTA — CBRE has arranged a $171.4 million loan for the refinancing of an eight-property portfolio of grocery-anchored shopping centers in the Southeast. The portfolio totals nearly 1.2 million square feet and was 96.6 percent leased at the time of financing to 194 tenants, including Kroger, Publix and Whole Foods Market. PGIM provided the loan to the borrowers, Branch Properties and Corebridge Real Estate Investors (formerly AIG Global Real Estate). Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan, which refinanced the mortgages for shopping centers in Bradenton, Sarasota, Melbourne and Palm Coast, Fla.; Atlanta and Gainesville, Ga.; Lexington, Ky.; and Memphis and Knoxville, Tenn.

November 12, 2024

Georgia Leasing Activity Life Sciences Office Southeast

Georgia Department of Agriculture Signs 11,129 SF Lease at New Life Sciences Tower in Atlanta

by John Nelson November 12, 2024

ATLANTA — The Georgia Department of Agriculture (GDA), via the Georgia State Properties Commission, has signed an 11,129-square-foot lease at Science Square Labs in Atlanta. The 13-story, 368,258-square-foot life sciences building is an anchor of Georgia Tech’s Science Square innovation district, a mixed-use development that spans 18 acres near campus and will include retail space and The Grace Residences apartment tower. Trammell Crow Co. delivered Science Square Labs, the first speculative life sciences building in the city’s history, in April 2024. The GDA will occupy pre-built lab and office space on the building’s 11th floor. Eric Ross, Jessica Doyle and Graham Little of CBRE represented the landlord in the lease negotiations, while Erik Weiss and Kari Downing with Savills represented the tenant. The organization joins national life sciences incubator Portal Innovations, which leased 33,000 square feet at Science Square Labs this past summer.

November 12, 2024

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