Georgia

CBRE Arranges 200,000 SF Industrial Lease Expansion in Atlanta

by John Nelson February 20, 2015

ATLANTA — CBRE has arranged American Building Supply’s 200,000-square-foot lease expansion at its manufacturing and distribution facility at 4475 S. Fulton Parkway in Atlanta. The hardware and door manufacturer and distributor’s lease now totals 635,000 square feet. David Nixon and Chad Burd of CBRE’s Atlanta office represented the tenant, and Will Lombard of Majestic Realty represented the landlord. The overall industrial vacancy in Atlanta dropped to below 10 percent in 2014 for the first time in nearly 14 years, according to CBRE Atlanta Research.

February 20, 2015

Georgia Office Southeast

Admiral Capital, SDM Partners Sell Atlanta Office Building

by John Nelson February 19, 2015

ATLANTA — Admiral Capital Group and its joint venture partner SDM Partners have sold 200 Ashford Center, a 158,384-square-foot office building in Atlanta’s Central Perimeter submarket. Built in 1989, the office building is located near the intersection of Ashford Dunwoody Road and Mt. Vernon Highway. The buyer was Parmenter Realty Partners, a fully integrated real estate investment, management and development firm headquartered in Miami with more than $1 billion in assets under management. Cushman & Wakefield represented both the buyer and sellers in the transaction.

February 19, 2015

Georgia Restaurant Retail Southeast

Westside Ironwroks in Atlanta Adds Retailer, Restaurants to Tenant Roster

by John Nelson February 18, 2015

ATLANTA — Westside Ironworks, a 19,000-square-foot, $8.5 million retail redevelopment in Atlanta’s West Midtown neighborhood, has added three new tenants, bringing its pre-leasing to 75 percent occupancy. The new tenants include O-Ku (3,200 square feet), a Southern-style sushi restaurant; Dixon Rye (5,000 square feet), an upscale, rustic-style home furnishings retailer; and Tom+Chee (2,600 square feet), a café-style, comfort food restaurant known for its Grilled Cheese Donut. All three retailers are expected to open this fall. The Westside Ironworks redevelopment transforms the former site of Iron-Works International Inc. into a retail destination. The project is spearheaded by Westside Ironworks LLC, a partnership between Frank Buonanotte and Jeff Stein. Buonanotte is the founder and chairman emeritus of The Shopping Center Group and the founder and principal of Metro Real Estate Investment Advisors, a real estate investment fund. In 2010, Stein founded Stein Investment Group, which has invested in and is actively acquiring real estate throughout metro Atlanta and the Southeast.

February 18, 2015

Florida Georgia Multifamily Seniors Housing Southeast

Dominion Partners to Develop Seniors Housing Facilities in Florida, Georgia

by John Nelson February 13, 2015

BIRMINGHAM, ALA. — Dominion Partners, a Birmingham-based developer of senior living properties across the Southeast, has two projects underway in Georgia and Florida. Somerby of Peachtree City senior living community in Peachtree City was split into two phases of construction. Phase I, currently in lease-up, has 72 assisted living and 24 memory care apartments. Dominion Partners recently broke ground on the $25 million Phase II of Somerby, which is expected to reach completion in the fall of this year. The 13-acre project will add a four-story building with 101 one- to three-bedroom independent living units, as well as nine villas that will provide flow for the existing assisted living units. The company is also developing a property in Florida called Somerby of Santa Rosa Beach. The $13.8 million project includes 52 assisted living and 24 memory care apartments.

February 13, 2015

Georgia Multifamily Southeast

Trillist Cos. Breaks Ground on YOO on the Park in Midtown Atlanta

by John Nelson February 12, 2015

ATLANTA — The Trillist Cos. Inc. has begun construction on YOO on the Park, a 25-story apartment tower located adjacent to Piedmont Park in Midtown Atlanta. The Trillist Cos. partnered with London-based YOO Studio on the 245-unit multifamily project, which will be located at 207 13th St. between Juniper Street and Piedmont Avenue. The property’s amenity package will include multiple resident lounges, game rooms, a virtual golf simulator, indoor and outdoor fitness facilities, resort-style pool and lounge, 24-hour concierge services, bike fix-it station and pet facilities with dog grooming stations. Trillist Cos. and YOO Studio are expecting a summer 2016 completion.

February 12, 2015

Georgia Industrial Loans Southeast

HFF Arranges $8.3M Acquisition Loan for Two-Building Portfolio in Midtown Atlanta

by John Nelson February 11, 2015

ATLANTA — HFF has arranged $8.3 million in acquisition financing for Midtown West, a portfolio of two industrial warehouses and an adjacent 3.2-acre parcel in Midtown Atlanta. The borrower, a joint venture between Stream Realty Partners and a private joint venture partner, plan to convert the two buildings, which total 75,000 square feet, and the adjacent parcel into loft office space. The properties are located at 1460, 1494 and 1510 Ellsworth Industrial Blvd. N.W. Stream plans to reintroduce the project as Ellsworth in June 2015. The conversion will create speculative office studios ranging from 1,500 to 6,000 square feet at 1494 Ellsworth, while 1510 Ellsworth will be marketed for single-tenant use. Travis Anderson, Gregg Shapiro and Cory Fowler of HFF negotiated the financing on behalf of the borrower.

February 11, 2015

Georgia Retail Southeast

CBRE Brokers $7.5M Sale of Shopping Center in Metro Atlanta

by John Nelson February 11, 2015

SUWANEE, GA. — CBRE has brokered the $7.5 million sale of Suwanee Depot, a 68,409-square-foot shopping center in Suwanee, a northern suburb of Atlanta in Gwinnett County. The shopping center is 91 percent leased to a 20,000-square-foot Office Depot, 22,000-square-foot Georgia Fitness, Jackson Hewitt, Lenny’s Subs, Sylvan Learning and a mix of local service and restaurant tenants. Craig Taylor of CBRE’s Atlanta office represented the sellers, Atlanta-based Columbia Properties and New York-based Red Starr. Taylor brokered the sale in conjunction with Auction.com. The buyer was Mahesh Marjani.

February 11, 2015

Georgia Office Southeast

Lincoln Property Co. Southeast Arranges Volkswagen’s Office Lease Renewal in Alpharetta

by John Nelson February 11, 2015

ALPHARETTA, GA. — Lincoln Property Co. Southeast has brokered Volkswagen Group of America’s long-term renewal of its 16,557-square-foot office lease in Alpharetta. The automaker renewed its lease at Two Northwinds, a six-story, 146,972-square-foot Class A office building located at 2520 Northwinds Parkway in Atlanta’s North Fulton submarket. Hunter Henritze and Michael Howell of Lincoln Property Co. Southeast represented the landlord, Equity Office, in the lease transaction. Shannon Newell of JLL represented Volkswagen.

February 11, 2015

Georgia Hospitality Southeast

HREC Brokers Sale of Ramada Limited in Metro Atlanta

by John Nelson February 10, 2015

FOREST PARK, GA. — HREC Investment Advisors has brokered the sale of the 79-guestroom Ramada Limited in Forest Park, roughly 11 miles south of Atlanta down I-75 and approximately five miles south of the Hartsfield-Jackson Atlanta International Airport. The buyer, HR Hotel Management Inc., purchased the hotel for an undisclosed amount. Monty Levy, Jeff Brown and Scott Stephens of HREC Investment Advisors represented the seller, VFC Properties LLC.

February 10, 2015

Savannah Georgia Boutique Hotel River Street

Georgia Hospitality Southeast

Rockbridge to Build Boutique Hotel in Savannah

by John Nelson February 9, 2015

SAVANNAH, GA. — Rockbridge plans to develop a 173-room boutique hotel in Savannah’s Historic District on River Street. With a projected opening in late 2016, the hotel will include a ground-floor restaurant and retail space, 4,000 square feet of meeting space, an upscale swimming pool experience, rooftop bar and on-site parking. Rockbridge will implement its all-king concept for this property, with 82 double king rooms, 66 kings and 25 suites. The hotel is located on the site of the oldest bottleworks factory in America and will incorporate historic bricks and bottles from the site in the development. Rockbridge has been working with city leaders to design and construct the first public, ADA-accessible pedestrian stairway and elevator to the river adjacent to the property. Plans include very wide, safe stairs and an elevator with new streetscaping and lighting enhancements.

February 9, 2015

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