Monday, June 16, 2025
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Georgia

AcquisitionsGeorgiaRetailSoutheast

Marcus & Millichap Arranges $7.5M Sale of Shopping Center in Monroe, Georgia

by John Nelson

MONROE, GA. — Marcus & Millichap has arranged the $7.5 million sale of Paradise Shoppes, a 23,500-square-foot retail center located at 1986 W. Spring St. in Monroe, about 44 miles east of Atlanta. An unnamed private equity firm based in Tulsa purchased the shopping center in an all-cash transaction from the seller, a private equity partnership. Both parties requested anonymity. The seller’s representative, Marc Irvin of Marcus & Millichap’s Atlanta office, says the company yielded more than 20 offers during marketing. Paradise Shoppes comprises two separate parcels, with one including a 5,300-square-foot building anchored by Truist Bank and Moe’s Southwest Grill. The other parcel comprises an 18,200-square-foot inline retail building leased to a mix of national, regional and local tenants. Additionally, there is a vacant pad between Starbucks and Chick-fil-A included in the sale.

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DevelopmentGeorgiaRetailSoutheast

Wawa Breaks Ground on Two Stores in Georgia, Plans 26 Locations in the State

by John Nelson

BRUNSWICK AND JESUP, GA. — Convenience store retailer Wawa has broken ground on two new stores in Georgia. Scheduled to open later this year, the stores will be located at the intersection of U.S. 341 and Community Road in Brunswick and 356 W. Orange St. in Jesup. The new shops mark the beginning of the brand’s expansion plans for southern and coastal Georgia, where Wawa plans to build and open 26 stores over the next five to eight years. Future locations in the state include Hinesville, Pooler, Waycross, Bainbridge, Tifton, Valdosta and Albany. Pennsylvania-based Wawa plans to invest roughly $7 million in the development of each store. Originally established as an iron foundry in 1803 and later evolving into a dairy business and then food market and convenience retailer, Wawa currently operates more than 1,000 stores.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Gorman & Co. Delivers 60-Unit Mixed-Income Apartment Community in Atlanta

by John Nelson

ATLANTA — Gorman & Co. has delivered Residences at Westview, a 60-unit mixed-income apartment community located at 1991 Martin Luther King Jr. Drive SW in Atlanta. Atlanta Mayor Andre Dickens attended the ribbon-cutting ceremony in late February. Situated near the West Lake MARTA Station, Residences at Westview features one-, two- and three-bedroom apartments, with 90 percent of the units affordable for households earning 50 to 60 percent of the area median income (AMI). Amenities include a playground, community garden and outdoor gathering spaces, as well as after-school services provided by Catholic Charities. Capital sources for Residences at Westview include Georgia Department of Community Affairs, Invest Atlanta, RBC, US Bank and Catholic Charities. Gorman & Co. has 350 units in its development pipeline in the metro Atlanta area over the next two years.

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DevelopmentGeorgiaRetailSoutheast

Gwinnett County Partners With CBRE for Gwinnett Place Mall Redevelopment in Metro Atlanta

by John Nelson

DULUTH, GA. — Gwinnett County has partnered with CBRE to redevelop Gwinnett Place Mall, a beleaguered regional mall in metro Atlanta. The county purchased 39 acres at the mall, including a shuttered Belk-Parisian department store, food court and inline retail space, in 2020 for $23 million. Other stakeholders in the nearly 1.3 million-square-foot mall include Northwood Ravin, which purchased the former Sears in 2018, and department store owner-operators Macy’s, Mega Mart and Beauty Master. Originally opened in 1984, Gwinnett Place Mall has served as filming locations for movies and TV series such as “Stranger Things” and “I, Tonya,” among others. Gwinnett County’s vision for the site is to create a dense, mixed-use activity center that is “well-connected, green and walkable, while preserving the cultural diversity and character of the area.” Next steps for the project will include collaboration with CBRE to refine plans before seeking development partners to transform the site. “Building on Gwinnett County’s work to date and commitment to this transformational project, CBRE is proud to join the county to deliver a revitalized, vibrant and inclusive development for Gwinnett residents,” says Jae Kim, vice president and head of CBRE’s U.S. East Coast Korea Desk.

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DevelopmentGeorgiaLeasing ActivityOfficeSoutheast

Swinerton Debuts New Office at Armour Yards in Atlanta

by John Nelson

ATLANTA — Swinerton, a general contractor firm based in San Francisco, has opened its new office space at 251 Armour Drive in Atlanta. The 10,000-square-foot office is part of the Armour Yards adaptive reuse development and will house 70 Swinerton employees. JLL arranged the lease on behalf of the Armour Yards landlord, Northwoods Office. Designed by MurphyMeyers, the new space includes 22 private offices, 30 workstations, two flex rooms, two meeting rooms and a “preconstruction room.” Amenities include a fitness studio, wellness room and a working lounge with overhead doors, as well as direct access to the Atlanta BeltLine. The space also includes a mural, custom art pieces and the integration of mass timber into the overall aesthetic. Founded in 1888, Swinerton is 100 percent employee-owned and has 21 offices nationwide. Swinerton first opened its Atlanta office in 2017.

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Chick-fil-A, Five Guys, Chase Bank to Open at $500M Halcyon Development in Metro Atlanta

by John Nelson

ALPHARETTA, GA. — Chick-fil-A will open a 5,300-square-foot restaurant this spring at Halcyon, a $500 million mixed-use development located in Alpharetta, a northern suburb of Atlanta. Currently under construction, the building will be situated within Halcyon’s Phase III. RocaPoint Partners is the developer and landlord of the project, and JLL manages retail leasing at the property. Five Guys and Chase Bank have also signed leases at the development and will occupy 2,400 and 3,500 square feet, respectively, within a 13,000-square-foot building adjacent to Chick-fil-A. Phase III of Halcyon will also feature a grocery anchor, to be announced later this year.

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AcquisitionsGeorgiaRetailSoutheast

FrostPoint Capital Acquires 46,767 SF Shopping Center in Metro Atlanta

by John Nelson

KENNESAW, GA. — FrostPoint Capital has acquired The Shops at Shiloh Crossing, a 40,767-square-foot shopping center located in Kennesaw, roughly 30 miles northwest of Atlanta. Conor Sweeney of Foundry Commercial represented both the buyer and undisclosed seller in the $6.9 million transaction. FrostPoint plans to implement a complete renovation of the property.

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GeorgiaIndustrialLeasing ActivitySoutheast

AA Heritage Solutions Signs 111,000 SF Industrial Lease Near Savannah

by John Nelson

POOLER, GA. — AA Heritage Solutions has signed a 111,000-square-foot industrial lease in Pooler, roughly 10 miles outside Savannah. The 219,480-square-foot building is now fully occupied. Situated at 101 Coleman Blvd., the building is part of the Coleman Industrial Portfolio, which Denholtz Properties acquired in 2022. The portfolio totals 358,884 square feet across three buildings. David Sink and Sebastian Findlay of Colliers represented Denholtz in the lease negotiations. Rex Benton and Jeff Goldman of NAI Mopper|Benton represented the tenant, which provides logistics and shipping services to retailers including Costco.

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DevelopmentGeorgiaMixed-UseSoutheast

Georgetown, RocaPoint Provide Updates for Campus 244 Mixed-Use Development in Atlanta’s Central Perimeter District

by John Nelson

DUNWOODY, GA. — The Georgetown Co. and RocaPoint Partners have provided updates for Campus 244, a 1.3 million-square-foot mixed-use development underway in Atlanta’s Central Perimeter submarket. Situated adjacent to the Dunwoody MARTA station, Campus 244 will feature the redeveloped Palladium office building, the Element by Westin Atlanta Perimeter hotel and several dining options. The developers recently welcomed Insight Global and Beon to the Palladium building and topped off the hotel, which will open this fall along with its dining concepts The Spruce Social House and Stäge Kitchen & Bar. The duo also plans to open CT Cantina & Taqueria at Campus 244 this summer. Additionally, Georgetown and RocaPoint have announced Phase II of the development — a six-story office building dubbed The Stacks. The 300,000-square-foot property is designed by Skidmore, Owings & Merrill to feature oversized windows and private outdoor space on all six levels. The construction timeline for Phase II was not disclosed. Aileen Almassy, Will Porter and Rob Kuppersmith of Cushman & Wakefield handle office leasing efforts at Campus 244, and Steve Yenser with Yenser Co. manages retail leasing.

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DevelopmentGeorgiaMultifamilySoutheast

Madison Communities Secures $35.5M Construction Financing for Multifamily Development in Savannah

by John Nelson

SAVANNAH, GA. — Madison Communities, the multifamily development affiliate of Madison Capital Group, has secured a $35.5 million loan for the construction of Madison Oglethorpe, a 240-unit, garden-style apartment community in Savannah. United Bank provided the financing. Forum Investment Group has also provided preferred equity for the development. Amenities at the community will include a clubhouse and lounge with coworking space, a fitness center, outdoor lounge, swimming pool, grilling stations and a fire pit. The project team includes architect SGA|NW and general contractor BenCo Construction, an affiliate of Madison Capital. Completion is scheduled for late 2025.

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