Georgia

Cushman & Wakefield Arranges Sale of Publix-Anchored Shopping Center in Covington, Georgia

by John Nelson February 28, 2024

COVINGTON, GA. — Cushman & Wakefield has arranged the sale of Shops at Covington Town Center, a new Publix-anchored shopping center located at 12701 Town Center Drive in Covington, about 36 miles east of Atlanta. Margaret Jones, Lane Breedlove, Adam Feinstein, Mark Gilbert and Mitchell Halpern of Cushman & Wakefield represented the owner and developer, a joint venture between The Sembler Co. and Berkeley Development, in the transaction. The duo delivered the center in 2023. The buyer and sales price were not disclosed. Shops at Covington Town Center features a 48,387-square-foot Publix store and 14,400 square feet of inline shop space. The shopping center is part of Covington Town Center, a mixed-use master-planned development that features three hotels, 350 apartments and 267 townhomes.

February 28, 2024

Acquisitions Georgia Multifamily Southeast

Marcus & Millichap Brokers $9.8M Sale of Shopping Center in Hampton, Georgia

by John Nelson February 27, 2024

HAMPTON, GA. — Marcus & Millichap has brokered the $9.8 million sale of Centre at Lovejoy, a 46,700-square-foot shopping center located at 11337 Tara Blvd. in Hampton, about 28 miles south of Atlanta. Eric Abbott and Zach Taylor of Marcus & Millichap’s Atlanta office represented the seller, Mount Pleasant, S.C.-based WRS Inc., in the transaction. The buyer was AGW Partners, a private investment firm based in New York. Centre at Lovejoy is shadow-anchored by Walmart and was leased to 17 tenants at the time of sale, including Bank of America, GameStop and Dollar Tree. The property sold as part of a two-property portfolio sale that included a neighboring retail center.

February 27, 2024

Development Georgia Hospitality Southeast

Swinerton to Construct $30M Chambray Hotel in Roswell, Georgia

by John Nelson February 26, 2024

ROSWELL, GA. — General contractor Swinerton plans to construct Chambray Hotel in Roswell, roughly 25 miles outside of Atlanta. The new boutique property will comprise 125 rooms across five stories upon completion. A joint venture between DSM Real Estate Partners and Garage Cap is the developer of the project, which is expected to total $30 million in development costs. Amenities at the property will include a ground-floor restaurant, rooftop eatery, 1,300 square feet of work and meeting space, a 24-hour market and valet service. In addition to ground-up construction, Swinerton will manage the design-build of the mechanical, electrical, plumbing and fire (MEPF) safety systems. A construction timeline was not disclosed.

February 26, 2024

Acquisitions Georgia Industrial Southeast

Graphic Packaging to Sell Paperboard Manufacturing Plant in Augusta for $700M

by John Nelson February 22, 2024

AUGUSTA, GA. — Graphic Packaging Holding Co., a publicly traded consumer packaging manufacturer based in Atlanta, has signed a definitive agreement to sell its bleached paperboard manufacturing plant in Augusta. The buyer is Clearwater Paper Corp., a publicly traded supplier of private-brand tissue products and paperboard materials based in Spokane, Wash. The transaction is valued at $700 million and is expected to close in the second quarter, pending regulatory approval. Details about the facility were not disclosed, but Graphic Packaging’s website indicates that the mill is located at 4278 Mike Padgett Highway. According to The Augusta Chronicle, Graphic Packaging purchased the plant from International Paper in 2018 before investing $350 million in capital improvements at the facility. The newspaper also reports the facility was built in 1960 by Continental Can Co. Graphic Packaging’s consultants in the transaction include financial advisor BofA Securities and legal counsel Alston & Bird LLP. Clearwater Paper’s advisors include TD Securities (financial); Pillsbury, Winthrop, Shaw, Pittman LLP (legal); and Stoel, Rives LLP (environmental).

February 22, 2024

Georgia Leasing Activity Retail Southeast

Arhaus to Open New Store at Avenue Peachtree City in Metro Atlanta

by John Nelson February 21, 2024

PEACHTREE CITY, GA. — Arhaus plans to open a new 7,085-square-foot Arhaus Studio store at The Avenue Peachtree City, an open-air shopping center in Peachtree City, a southern suburb of Atlanta. The new store is expected to open later this year between Souls by LT and fab’rik. Other tenants set to debut at The Avenue Peachtree City this year include HOBNOB Neighborhood Tavern, Warby Parker and 9292 Korean BBQ. Managed by JLL and owned by Poag, Avenue Peachtree City opened in 1999. Atlanta-based Cousins Properties developed the open-air center, along with other Avenue-branded properties in the metro Atlanta area.

February 21, 2024

Development Georgia Multifamily Southeast

Partnership Opens 328-Unit Wentworth Park Residences Near Savannah

by John Nelson February 20, 2024

PORT WENTWORTH, GA. — A partnership between Novare Group, Batson-Cook Development Co. (BCDC) and Baltisse has opened Wentworth Park Residences, a 328-unit apartment community located in the Savannah suburb of Port Wentworth. The Class A, garden-style community is situated on 30 acres along Augusta Road (Highway 21) near the 1-95 interchange. Dwell Design Studio designed Wentworth Park, which features one-, two- and three-bedroom apartments, as well as 16 carriage houses with private garages. Amenities include a resort-style swimming pool with a sun shelf and a clubroom featuring an entertainment kitchen and a lounging area with shuffleboard and outdoor dining. Other amenities include private workstations and conference rooms, a fitness center and yoga studio and an outdoor entertainment space with a kitchen, dining area, fire pits, hammocks and a dock overlooking a lake. Monthly rental rates range from $1,610 to $2,400, according to the property website.

February 20, 2024

Georgia Loans Seniors Housing Southeast

Berkadia Arranges Sale of 112-Unit Seniors Housing Community in Atlanta’s Buckhead District

by John Nelson February 15, 2024

ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The three-year, fixed-rate loan features interest-only payments for the full term and is prepayable at any time. Built in 1996, Brighton Gardens features both assisted living and memory care units.

February 15, 2024

Acquisitions Georgia Retail Southeast

CBRE Arranges Sale of Fayette Pavilion, Georgia’s Largest Open-Air Retail Center

by John Nelson February 14, 2024

FAYETTEVILLE, GA. — CBRE’s National Retail Partners team has arranged the sale of Fayette Pavilion, an open-air retail center in Fayetteville, a city about 22 miles south of Atlanta. At nearly 1.1 million square feet, Fayette Pavilion is the largest open-air retail center in Georgia and also the most visited with approximately 8.3 million annual visitors, according to CBRE. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners’ Southeast team represented the seller, Chicago-based Nuveen Real Estate, and procured the buyer, Houston-based 5Rivers CRE, in the transaction. The sales price was not disclosed. Developed on 106 acres from 1995 to 2003, Fayette Pavilion’s tenant roster includes Publix, Hobby Lobby, Burlington, Ross Dress for Less, Marshalls, PetSmart, Old Navy, pOpshelf, Dollar Tree and Five Below.

February 14, 2024

Company News Georgia Retail Southeast

Matthews Real Estate Investment Services Adds Veteran Retail Specialists to the Firm

by John Nelson February 14, 2024

ATLANTA — Matthews Real Estate Investment Services has hired Pierce Mayson and Kyle Stonis as senior vice presidents, Jeff Enck as first vice president and Boris Shilkrot as associate vice president. The veteran retail specialists join the company’s shopping center division from SRS Real Estate Partners where they managed the sales of shopping centers in 17 different states across the Southeast, Midwest and Northeast. Collectively, Mayson, Stonis, Enck and Shilkrot have brokered the sales of $4 billion in career transactions over a combined 50 years. The group will operate from the Matthews’ Atlanta office off Peachtree Road and work with Matthew Wallace, the company’s national director of shopping centers.

February 14, 2024

Development Georgia Restaurant Retail Southeast

Red Door Revivals Breaks Ground on Roswell Junction Food Hall in Metro Atlanta

by John Nelson February 8, 2024

ROSWELL, GA. — Red Door Revivals, a locally based development firm led by Will Coley, has broken ground on Roswell Junction, a new food hall in Roswell’s historic district. The site of the 12,000-square-foot venue formerly housed Atlanta Street Baptist Church, which moved to a church in nearby Woodstock, Ga. Red Door is retrofitting the church building for the venue and is working on integrating parking and other infrastructural elements into Roswell Junction. Roswell Mayor Kurt Wilson and other city officials participated in the groundbreaking ceremony. Slated for completion this summer, the venue will house eight different food concepts and three bars, including an indoor/outdoor bar. The food hall will feature a bandstand, covered patio, arcade, big screen media, outdoor games, children’s play space and a fenced dog area. Pat Garza of National Food Hall Solutions will operate Roswell Junction upon completion.

February 8, 2024

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