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AcquisitionsGeorgiaRestaurantRetailSoutheast

Marcus & Millichap Brokers Sale of New Store in LaGrange, Georgia Leased to Starbucks

by John Nelson

LAGRANGE, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built store located at 2100 Vernon St. in LaGrange, about 68 miles southwest of Atlanta via I-85. The 2,500-square-foot store is net-leased to Starbucks, which has 10 years of term remaining on the lease. A local investment firm purchased the store from an unnamed developer for an undisclosed price. “Despite the surplus of Starbucks inventory on the market and limited buyer pool, we were able to source a local 1031 cash buyer and trade close to list price,” says Don McMinn of the Taylor McMinn Retail Group, who represented the seller in the transaction. Delivered earlier this year, the Starbucks store is an outparcel to a Publix-anchored shopping center that also features a Chick-fil-A outparcel. The Taylor McMinn Retail Group arranged the sales of both the Publix and Chick-fil-A locations previously.

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GeorgiaLoansMultifamilySoutheast

BWE Arranges $35M Refinancing of Sedgefield Apartments in Marietta, Georgia

by John Nelson

MARIETTA, GA. — BWE has arranged a $35 million bridge loan for the refinancing of Sedgefield Apartments, a 280-unit multifamily community located at 1136 W. Commons Lane in Marietta, a northwest suburb of Atlanta. Alan Tapie, Thomas Wiedeman, Brad Walker and Hanley Long of BWE arranged the interest-only loan on behalf of the borrower, RPM Living. Sedgefield Apartments features one-, two- and three-bedroom floor plans, as well as a fitness center, playground, green space, swimming pool, laundry facility and a grilling area.

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Gilbert-Distribution-Center-Gilbert-AZ
AcquisitionsArizonaGeorgiaIndustrialWestern

Dalfen Industrial, RGA Form Joint Venture for 253,055 SF Industrial Portfolio in Arizona, Georgia

by Amy Works

GILBERT, ARIZ., AND ALPHARETTA AND NORCROSS, GA. — Cushman & Wakefield has advised Dalfen Industrial in the disposition and recapitalization of a multi-tenant industrial portfolio, totaling 253,055 square feet across two projects in Atlanta and Phoenix metro markets. The dual-project portfolio was owned in Dalfen Industrial’s Value-Add Fund IV and was recapitalized in a joint venture between Dalfen Industrial and RGA ReCap Inc. on behalf of Reinsurance Group of America Inc. Terms of the transaction were not released. Located in Gilbert, Gilbert Distribution Center is a freestanding Class A industrial building at 1495 E. Baseline Road. Two tenants fully occupy the property, which features multiple points of ingress/egress, multiple storefronts, loading, functional column spacing and concrete truck aprons on a 140-foot truck court. The North Atlanta Infill Portfolio is a collection of four multi-tenant, rear-load, light industrial buildings located at 6205 and 6215 Shiloh Crossing in Alpharetta and 2915 Courtyards Drive and 3055 Northwoods Circle in Norcross. The properties are a combined 86 percent leased to eight tenants, three of which recently extended their lease terms. The buildings offer 18- to 22-foot clear heights, rear loading, a mix of drive-in and dock-high doors, and multiple glass store fronts. Will Strong, Michael …

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AcquisitionsGeorgiaSoutheastStudent Housing

TSB Realty Brokers Sale of 330-Bed Student Housing Community Near Georgia Tech in Midtown Atlanta

by John Nelson

ATLANTA — TSB Realty has brokered the sale of 100 Midtown, a 330-bed student housing community located near the Georgia Tech campus in Atlanta’s Midtown neighborhood. Pope & Land Real Estate purchased the property from an undisclosed seller. In addition to TSB Realty brokering the sale, TSB Capital Advisors acted as consultant for acquisition financing with First Carolina Bank. 100 Midtown offers fully furnished two- and four-bedroom units. Shared amenities include a fitness center, clubhouse, film lounge, business center and private study rooms. The property was originally developed in 1968 and repositioned as student housing in 2004. The community was 98 percent occupied at the time of sale.

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AcquisitionsGeorgiaIndustrialOfficeSoutheast

Newmark Brokers $36.3M Sale of Industrial, Office Portfolio in Metro Atlanta

by John Nelson

DULUTH, GA. — Newmark has brokered the $36.3 million sale of a four-building portfolio within Satellite Place in Duluth, a northeast suburb of Atlanta. Situated near I-85, the portfolio spans nearly 290,000 square feet and includes three industrial buildings at 2405, 2425 and 2450 Commerce Ave. and one single-story office building at 2400 Commerce Ave. Casey Keitchen and Collin BeVier of Newmark represented the sellers, two entities doing business as Satellite Place Property LLC and Satellite Commercial Property LLC, in the transaction. The buyer was an undisclosed industrial fund.

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AcquisitionsGeorgiaIndustrialSoutheast

Scannell Properties Sells New Distribution Center in Savannah for $50.8M

by John Nelson

SAVANNAH, GA. — Scannell Properties has sold Rockingham Farms Building 10, a newly built, 413,230-square-foot bulk distribution center located at 101 Feldspar Drive in Savannah. DWS purchased the facility for $50.8 million. Britton Burdette, Dennis Mitchell, Matt Wirth and Jim Freeman of JLL represented Scannell Properties in the transaction. Situated within Rockingham Farms Logistics Park, the building is located approximately eight miles from the Port of Savannah’s Garden City Terminal. The Class A property was fully leased at the time of sale to two tenants and features 36-foot clear heights, two drive-in doors, 73 dock doors, a 185-foot truck court, 100 trailer spaces, 272 car parking spaces and rear-loading capabilities.

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GeorgiaLoansMultifamilySoutheast

Walker & Dunlop Secures $78.6M Refinancing for Ann Street Lofts Apartments in Savannah

by John Nelson

SAVANNAH, GA. — Walker & Dunlop has arranged a $78.6 million bridge loan for the refinancing of Ann Street Lofts, a six-story multifamily community located at 111 Ann St. in Savannah’s Historic District. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Christopher de Raet of Walker & Dunlop’s New York office arranged the floating-rate loan through BentallGreenOak on behalf of the borrower and developer, Tidal Real Estate Partners LP. The five-year loan retires previous construction debt on the property provided by Cerberus Capital Management. Delivered last year by Tidal, Ann Street Lofts features 162 studio apartments, 51 one-bedroom units, 19 two-bedroom apartments and 10,000 square feet of retail space that is in lease-up. Amenities include coworking space, an art studio, fitness center and EV (electric vehicle) charging stations.

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AcquisitionsGeorgiaLoansMultifamilySoutheast

CBRE Arranges $45.9M Acquisition Financing for Preston Apartments in McDonough, Georgia

by John Nelson

MCDONOUGH, GA. — CBRE has arranged $45.9 million in acquisition financing for The Preston, a 334-unit apartment community located at 100 Preston Creek Drive in McDonough, a southeast suburb of Atlanta. Blake Cohen and Charlie Clark of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the financing on behalf of the borrower, ARC Multifamily, which purchased the property for approximately $52.4 million. CBRE originated a $34.2 million senior Fannie Mae loan and arranged an $11.7 million preferred equity investment from Related Fund Management on behalf of the borrower. Built in 2001, The Preston features a mix of one-, two- and three-bedroom apartments ranging in size from 767 to 1,794 square feet. Amenities include two swimming pools, a grilling area, business center and a resident lounge.

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DevelopmentGeorgiaIndustrialSoutheast

First Quality Baby Products to Invest $418M for Manufacturing Facility Expansion in Macon, Georgia

by John Nelson

MACON, GA. — First Quality Baby Products — which manufactures baby diapers, youth and training pants, adult incontinence products, feminine hygiene products, paper towels and bath tissue and packages products — has announced plans for a $418 million expansion of its facilities in Macon, roughly 85 miles southwest of Atlanta. Located adjacent to the company’s current facilities, at 2108 Avondale Mill Road, the expansion will create 600 jobs and will allow for a 50 percent increase in baby diaper and training pant manufacturing capacity, according to the brand. Candice Scott of the Georgia Department of Economic Development (GDEcD) represented the state in securing the project, working in partnership with the Macon-Bibb County Industrial Development Authority, Georgia Power and Georgia Quick Start. “We’re always thankful when job creators like First Quality choose to expand in Georgia, and we’ll keep working to strengthen these long-term partnerships that enrich communities in every corner of the state,” said Georgia Gov. Brian Kemp in a press release.

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DevelopmentGeorgiaMultifamilySoutheast

Resia Opens 433-Unit Apartment Community in Metro Atlanta

by John Nelson

DOUGLASVILLE, GA. — Multifamily development and management firm Resia has opened Resia Tributary, a 433-unit apartment community in Douglasville, approximately 20 miles west of Atlanta. Located at 1851 Market St., the property offers studio, one- and two-bedroom apartments across seven five-story buildings. Additionally, the community features a 22,000-square-foot, two-story building comprising 9,000 square feet of retail space and 13 one-bedroom lofts. Monthly rental rates begin at $1,322, according to the property website.

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