Georgia

Selig Brings 125,000 SF Office Space at The Works in Atlanta to Full Occupancy

by John Nelson March 13, 2025

ATLANTA — Selig Enterprises has announced that Phase I of the office space at The Works, the developer’s 80-acre mixed-use development on Atlanta’s Upper Westside neighborhood, is now fully leased. New tenants joining the 125,000-square-foot office component include Babbit Bodner (communications and marketing); City of Atlanta (public safety); Google Fiber; Interior Environments (office furniture dealer and interior designer); and Narrative Content Group (advertising, branding and website design). Existing tenants include Uppercut (creative editorial shop); MacDermid Graphic Solutions (a photopolymer plate manufacturer); iHeart Media (radio conglomerate); and Atlanta Eats (local food-driven media company). Atlanta-based Selig Enterprises owns The Works and handles the project’s office leasing internally.

March 13, 2025

Acquisitions Georgia Mixed-Use Multifamily Restaurant Retail Southeast

Jamestown Acquires Minority Stake in Inman Quarter Mixed-Use Development in Atlanta

by John Nelson March 11, 2025

ATLANTA — Jamestown has acquired a minority stake in Inman Quarter, a mixed-use development in Atlanta’s Inman Park district. The Atlanta-based company, best known for its placemaking and operation of developments like Ponce City Market, will own and operate Inman Quarter with TriBridge Residential, a multifamily owner/operator also based in Atlanta. The property includes approximately 40,000 square feet of retail space, 200 residential units and a 515-space parking deck. The retail component comprises popular restaurants and cafes, including MF Sushi, Little Spirit, bartaco and Beetlecat. The sales price and Jamestown’s stake amount at Inman Quarter were not disclosed.

March 11, 2025

Development Georgia Industrial Office Southeast

Coca-Cola United Opens $19M Flex Facility in Jasper, Georgia

by John Nelson March 11, 2025

JASPER, GA. — Coca-Cola Bottling Co. United Inc. has opened a new $19 million sales center and warehouse in Jasper, about 60 miles north of Atlanta. Situated on three acres off Hugh Mullins Court, the 26,000-square-foot facility includes a sales and distribution center, warehouse, fleet shop and office space. Jasper Coca-Cola will operate the facility, which will serve as a hub to distribute Coca-Cola products throughout Cherokee, Fannin, Gilmer, Pickens, Towns and Union counties. Established in 1932, Jasper Coca-Cola joined the Coca-Cola United family of bottlers in 2017. The company employs 58 associates, serves more than 1,000 customers and sells and distributes nearly 2 million cases of Coca-Cola products annually.

March 11, 2025

Acquisitions Georgia Loans Retail Southeast

Marcus & Millichap Brokers $3.7M Sale of Net-Leased Walgreens Retail Property in Lawrenceville, Georgia

by John Nelson March 7, 2025

LAWRENCEVILLE, GA. — Marcus & Millichap has arranged the $3.7 million sale of a net-leased Walgreens retail property in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Built in 2004, the freestanding property is situated on 1.2 acres. Walgreens has just under 10 years remaining on its corporate-guaranteed, absolute-net lease with options to renew. Ashish Vakhariya, Darin Gross and Seth Haron of Marcus & Millichap’s Detroit office marketed the property on behalf of the undisclosed seller and procured the buyer, a local private investor, in the transaction. John Leonard is the firm’s broker of record in Georgia. Additionally, Luke Lamoreaux of Marcus & Millichap Capital Corp. (MMCC), a subsidiary of Marcus & Millichap, secured acquisition financing for the asset.

March 7, 2025

Development Georgia Multifamily Southeast

RangeWater, Partners to Develop 269-Unit Apartment Community in Lilburn, Georgia

by John Nelson March 4, 2025

LILBURN, GA. — Locally based multifamily development and management firm RangeWater Real Estate has partnered with the City of Lilburn and Dallas-based The Meridian Group to develop a 269-unit apartment community in Lilburn, a northeast suburb of Atlanta in Gwinnett County. RangeWater acquired the four-acre site at 45 Railroad Ave. in Old Town Lilburn near Lilburn City Park. RangeWater and its partners worked closely with the Downtown Development Authority on the project, which will include a public-private parking garage. The unnamed property will offer studio, one-, two- and three-bedroom apartments, spanning in size from 537 to 1,578 square feet. Amenities will include a boutique gym and wellness facility, coworking space, dog spa, resident bar, lounge with vaulted ceilings, swimming pool, outdoor grills, gardens for resident al-fresco dining, a public/private amphitheater-style courtyard and a trailhead for Camp Creek Greenway Trail. The development team plans to break ground this spring and wrap up construction in late 2026.

March 4, 2025

Civic Development Georgia Office Southeast

Swinerton Awarded $23M Contract for Construction Projects at Hartsfield-Jackson Atlanta International Airport

by John Nelson March 3, 2025

ATLANTA — Swinerton has obtained a $23 million contract for construction at Hartsfield-Jackson Atlanta International Airport on behalf of a partnership between the City of Atlanta and WEBMyers Construction. Swinerton will complete three projects at the airport. The first project — which is expected to be completed by the end of the year — will include the $21 million renovation of six pairs of restroom facilities located in the North Terminal and Concourses T, C and F, as well as several family restrooms. The second project, designed by Atlanta-based Brink Design, will include a $1 million renovation of the airport’s Security Badging Office, which is slated for completion in early spring. The space will nearly double in size and feature 15 desk-style, seated stations with data ports, card printers and fingerprinting machines. The final project, a $1.2 million expansion of all TSA breakrooms, will total 42,000 square feet of space and comprise 13 breakrooms upon completion in July. These projects follow the recently completed $600,000 renovation of the Department of Aviation Finance Office at Hartsfield-Jackson by Swinerton and WEBMyers.

March 3, 2025

Acquisitions Georgia Industrial Office Southeast

Third & Urban Buys 470,000 SF Industrial Flex Campus in Sandy Springs, Georgia

by John Nelson February 27, 2025

SANDY SPRINGS, GA. — Atlanta-based Third & Urban has purchased Northridge Commons, a seven-building industrial flex campus in Sandy Springs, a northern suburb of Atlanta. The 470,000-square-foot property is located at 8601 Dunwoody Place near Ga. Highway 400. Dilweg sold the campus for an undisclosed price. Will Yowell of CBRE’s National Office Partners team in Atlanta represented the seller in the transaction. Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team arranged $48.5 million in acquisition financing for Third & Urban. Northridge Commons was 83 percent leased at the time of sale to a variety of office, flex and warehouse occupiers, including Inspire Brands and Invitation Homes, a subsidiary of Blackstone. Third & Urban says it will reposition some of the office spaces to attract more flex industrial users.

February 27, 2025

Acquisitions Georgia New York Northeast Retail Southeast Top Stories

Global Net Lease Agrees to Sell 100-Property Multi-Tenant Retail Portfolio for $1.8B

by Kristin Harlow February 26, 2025

NEW YORK CITY AND ATLANTA — Global Net Lease Inc. (NYSE: GNL) has entered into a binding agreement to sell its multi-tenant retail portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings LLC for approximately $1.8 billion. The transaction represents an 8.4 percent cash cap rate. GNL says the transaction would accelerate its deleveraging initiative and position the company as a pure-play, single-tenant net lease (STNL) company. GNL launched its disposition initiative in 2024, with the objectives of significantly reducing debt, enhancing financial flexibility and lowering its cost of capital. Following the completion of the multi-tenant portfolio sale, which would represent the most significant step in this initiative to date, GNL expects to have completed nearly $3 billion in dispositions between the start of 2024 and the end of 2025, inclusive of properties in its disposition pipeline. The company expects to use the net proceeds from the multi-tenant portfolio sale to significantly reduce the outstanding balance on its revolving credit facility. The board of directors has concurrently approved a share repurchase program authorizing the company to opportunistically repurchase up to $300 million of its outstanding common stock in accordance with typical practice for such programs. “We believe …

February 26, 2025

Development Georgia Loans Multifamily Southeast

CBRE Arranges $42.7M Construction Loan for Jax Apartment Development in Monroe, Georgia

by John Nelson February 24, 2025

MONROE, GA. — CBRE has arranged a $42.7 million construction loan for The Jax, a 282-unit, garden-style apartment development located at 200 Aycock Ave. in Monroe, about 40 miles east of downtown Atlanta. Blake Cohen and Charlie Clark of CBRE’s Debt & Structured Finance team in Atlanta arranged the financing on behalf of the borrower, a joint venture between Green River Builders and ARC Multifamily Group. Atlanta-based Peachtree Group provided the 2.5-year, interest-only loan at approximately 74 percent loan-to-cost. The Jax will comprise seven three-story residential buildings housing one-, two- and three-bedroom apartments averaging 1,117 square feet in size. Amenities will include a business center, clubhouse, pool, fitness center, volleyball court, picnic area, EV charging stations and a breakfast/coffee concierge. The construction timeline was not released.

February 24, 2025

Acquisitions Georgia Southeast Student Housing

Cushman & Wakefield Negotiates Sale of Cottage-Style Student Housing Community in Milledgeville, Georgia

by John Nelson February 24, 2025

MILLEDGEVILLE, GA. — Cushman & Wakefield has negotiated the sale of Arcadia on the River, a cottage-style student housing community located near the Georgia College campus in Milledgeville. Built in 2017 at 120 Pumping Station Road, the property offers 510 beds across 123 units. Shared amenities include a pool, tanning ledge, fitness center, yoga studio, sauna, volleyball court, shuttle service to campus, outdoor games and billiards, foosball and table tennis. Travis Prince, Victoria Marks, Shawn Lubic, Taylor Bird and Nelson Abels of Cushman & Wakefield represented the seller, Sanctuary Cos., in the disposition of the property to Time Equities Inc. Terms of the transaction were not released.

February 24, 2025

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