Georgia

Batson-Cook Breaks Ground on $36M Service Center for Blue Cross Blue Shield of Georgia

by John Nelson November 4, 2014

COLUMBUS, GA. — Batson-Cook Construction has broken ground on a high-tech, flagship service center for Blue Cross Blue Shield of Georgia (BCBSGA) in Columbus. The $36 million, 245,000-square-foot property will house up to 2,000 associates upon its completion in the third quarter of 2015. The three-story building will be located in Muscogee Technology Park. The Molasky Group is the developer and owner of the asset. The design team includes architect Hecht Burdeshaw Architects and interior designer The Dollries Group. Batson-Cook will also do the build-out for the asset, which includes a three-story atrium, dining room and fitness center. Savills Studley represented BCBSGA in the lease transaction with The Molasky Group.

November 4, 2014

Georgia Multifamily Southeast

Bell Partners Acquires Apartment Community in Metro Atlanta

by John Nelson November 3, 2014

WOODSTOCK, GA. — Bell Partners Inc. has acquired Alta Woods, a 498-unit apartment community in Woodstock, a northern suburb of Atlanta. Bell Partners will manage the community and will rename it Bell Woodstock. The property’s amenity package includes two clubhouses, WiFi access, two outdoor pools, a sand volleyball court, nine-hole putting green, outdoor playground, lighted tennis courts, two fitness centers, dog park and multiple grill and picnic areas. Bell Woodstock was more than 96 percent occupied at the time of sale.

November 3, 2014

Georgia Mixed-Use Southeast

$600M Avalon Opens for Business in Alpharetta

by John Nelson October 31, 2014

ALPHARETTA, GA. — Developer North American Properties (NAP), Alpharetta Mayor David Belle Isle and other dignitaries and business professionals officially opened Avalon for business yesterday morning. The $600 million development features single-family homes, chef-driven restaurants and national eateries, a Whole Foods Market, apparel retailers, a gym, 12-screen Regal theater, dog park and upscale apartment residences. Retail tenants include Arhaus, Banana Republic, Columbia, Everything But Water, J. Crew, lululemon athletica, Orvis, Pottery Barn Kids, Ted’s Montana Grill and West Elm. Phase II of Avalon, which has been approved for construction, includes 85,000 square feet of retail and restaurant space and is scheduled to open in fall 2016.

October 31, 2014

Georgia Industrial Southeast

Red Rock to Develop 200,000 SF Industrial Build-to-Suit for Hollander Sleep Products

by John Nelson October 31, 2014

THOMSON, GA. — Hollander Sleep Products has selected Red Rock Developments to construct its 200,000-square-foot manufacturing and warehouse facility in Thomson. The property will be Hollander’s 10th manufacturing facility in the United States. The company’s bedding products include Laura Ashley, Ralph Lauren, Beautyrest and Waverly.

October 31, 2014

Georgia Multifamily Southeast

PointOne Holdings Buys Apartment Community in Metro Atlanta for $18.7M

by John Nelson October 31, 2014

LITHIA SPRINGS, GA. — PointOne Holdings has acquired Madison at Waterford Apartments, a 344-unit, Class B apartment community in Lithia Springs, for $18.7 million. PointOne Holdings will rebrand the community as Waterford Point. The apartment complex was 93 percent leased at the time of sale. The property’s amenity offerings include two swimming pools, two tennis courts, a fitness center, indoor racquetball court, car care center, detached garages, picnic areas and a walking trail. The apartment residences average 905 square feet. Walker & Dunlop arranged a $14.7 million acquisition loan through Freddie Mac on behalf of PointOne Holdings, which also plans to invest $2.4 million in capital improvements.

October 31, 2014

Georgia Multifamily Southeast

Middle Street Partners Acquires Apartment Community in Metro Atlanta

by John Nelson October 30, 2014

LAWRENCEVILLE, GA. — Middle Street Partners LLC, along with an undisclosed joint venture partner, has purchased The Overlook at Gwinnett Stadium, a 410-unit apartment community in Lawrenceville, a suburb east of Atlanta. Middle Street’s joint venture partner was a private family office. The property was built in 2012.

October 30, 2014

Georgia Loans Southeast

Grandbridge Arranges $7.1M Loan for Seniors Housing Property in South Georgia

by John Nelson October 29, 2014

QUITMAN, GA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has arranged a $7.1 million loan for the 204-bed Presbyterian Home and Retirement Community of Quitman in Quitman, a town near the Georgia-Florida border. BB&T referred Grandbridge to the transaction. Richard Thomas of Grandbridge originated the fully amortizing, 35-year refinance loan through FHA’s 232/223(a)(7) program.

October 29, 2014

Georgia Southeast

Rooker to Develop Movie Studio, 1.1M SF Distribution Center South of Atlanta

by John Nelson October 28, 2014

UNION CITY, GA. — Atlanta-based Rooker has partnered with 404 Studio Partners to develop a movie and television studio known as Atlanta Metro Studios. The 345,000-square-foot project will be located in Union City, 17 miles southwest of downtown Atlanta. Phase I of the studio will feature 130,500 square feet of soundstages, 60,000 square feet of office space and 50,000 square feet of construction/flex space. Rooker, which purchased the 90-acre property in February, will be the developer and general contractor of the studio complex. 404 Studio Partners, led by a team of film and television production professionals, will be the exclusive sales, marketing and operations management company for the studio facilities. The site of the studio complex is currently home to the former Shannon Mall, which is currently being demolished. Additionally, Rooker is developing a 1.1 million-square-foot distribution center at the site. The property will feature 36-foot clear heights, 60-foot-wide bay spacing, ESFR fire suppression and 900 parking spaces. Colliers International is the leasing agent for the distribution center. Vertical construction on both the studio facility and the distribution center will begin in March 2015 with completion expected in fourth-quarter 2015.

October 28, 2014

Georgia Retail Southeast

Crossman & Co. Brokers $21M Sale of Publix-Anchored Shopping Center in North Georgia

by John Nelson October 28, 2014

ROME, GA. — Crossman & Co. has brokered the $21 million sale of Charles Hight Square, a Publix-anchored shopping center located in Rome. The property’s tenant roster includes Wells Fargo, AT&T, Jimmy John’s and Mattress Firm. John Zielinski, Mark Thompson and Leah Harrington of Crossman & Co. represented the seller in the transaction.

October 28, 2014

Georgia Multifamily Southeast

Steadfast Apartment REIT Acquires 696 Multifamily Units in Metro Atlanta for $98.5M

by John Nelson October 24, 2014

SUWANNEE, GA. — Steadfast Apartment REIT has acquired 696 apartment units in Suwannee, a suburb in Atlanta’s North Gwinnett submarket, for $98.5 million. Steadfast will jointly operate the apartment residences, which were originally constructed as two standalone properties comprising 354 units and 342 units. The multifamily property will be known as The Residences on McGinnis Ferry, which is currently 97 percent occupied. The average in-place rental rate is $1,068, and the average square footage in each unit is 1,217 square feet. The property’s amenity offerings include two swimming pools, a dog park, playgrounds, children’s activity room, tennis courts, 24-hour fitness center, resident activity center and a walking and bicycle trail.

October 24, 2014

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