Georgia

McShane to Build Second Phase of Ashley at Scholars Landing Mixed-Income Apartments in Atlanta

by John Nelson September 25, 2023

ATLANTA — McShane Construction Co. plans to build the second phase of Ashley at Scholars Landing, a mixed-income apartment development located at 680 Atlanta Student Movement Blvd. in Atlanta. The developer is The Integral Group. Phase II will comprise three- and four-story buildings spanning 212 affordable housing and market-rate apartments, as well as a clubroom, fitness center, micro-offices and an activity space. Designed by JHP Architecture, Ashley at Scholars Landing II is set for completion in July 2025. Phase I comprised 135 apartments and opened in 2020.

September 25, 2023

Development Georgia Industrial Southeast

LPC Southeast to Break Ground on 482,755 SF Distribution Center Near Savannah

by John Nelson September 22, 2023

BLOOMINGDALE, GA. — Lincoln Property Co. Southeast (LPC Southeast) is set to break ground this month on Bloomingdale Trade Center, a 482,755-square-foot distribution center near the Port of Savannah. Denton Shamburger, Turner Fortin and Colin Beecham of LPC Southeast are overseeing construction, marketing and leasing of the facility, which is expected to deliver in the fourth quarter of 2024. Located along Bloomingdale Road and two miles from I-16, Bloomingdale Trade Center will feature 36-foot clear heights, 80 dock-high doors, 121 trailer parking spaces, 266 auto parking spaces and dedicated tenant amenity areas. The project represents the first development in the Savannah market for LPC Southeast.

September 22, 2023

Development Georgia Southeast Student Housing

PeakMade Real Estate, Blue Vista Open Theory Interlock Student Housing Property in Atlanta

by John Nelson September 21, 2023

ATLANTA — A partnership between PeakMade Real Estate and Blue Vista Capital Management has opened Theory Interlock, a 674-bed student housing community located near the Georgia Tech campus in Atlanta’s West Midtown neighborhood. The property offers fully furnished apartments and townhomes in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool and fitness center with an outdoor jumbotron theater; an academic lounge with group and individual study spaces; podcast rooms; a large club room; two outdoor courtyards; and structured parking. Theory Interlock is part of the second phase of development at Interlock Tower, a larger mixed-use project. The development is also home to 200,000 square feet of office space, 100,000 square feet of retail and restaurants, 349 traditional multifamily units, 70 townhomes and a 161-room hotel. Atlanta-based SJC Ventures is the master developer of The Interlock.

September 21, 2023

Acquisitions Georgia Retail Southeast

SRS Brokers $8M Sale of Hiram Walk Retail Center in Metro Atlanta

by John Nelson September 21, 2023

HIRAM, GA. — SRS Real Estate Partners has brokered the $8 million sale of Hiram Walk, a 13,801-square-foot retail center located in Hiram, roughly 27 miles outside Atlanta. Tenants at the center, which was built in 2004, include Starbucks Coffee, Buffalo Wild Wings, T-Mobile, Cold Stone Creamery and Moe’s Southwest Grill. The property is an outparcel to Hiram Pavilion. Jeff Enck of SRS represented the undisclosed seller. An entity doing business as H Walk LLC was the buyer.

September 21, 2023

Acquisitions Georgia Retail Southeast

Divaris Arranges $18.4M Sale of Merchant’s Walk Shopping Center in Metro Richmond

by John Nelson September 19, 2023

HENRICO, VA. — Divaris Real Estate has arranged the $18.4 million sale of Merchant’s Walk Shopping Center, a 219,972-square-foot retail center located at 7580 W. Broad St. in Henrico. Situated about 10 miles northwest of Richmond, Merchant’s Walk was 97 percent leased at the time of sale to 38 retailers, including anchors Food Lion, AutoZone and JoAnn Fabric and Craft. Local investment firm Qi Lin purchased the 20-acre property from the undisclosed seller. John Madures of Divaris represented the buyer in the transaction. Qi Lin has retained Divaris to lease Merchant’s Walk, which has two retail availabilities, as well as affiliate Divaris Property Management Corp. to operate the center.

September 19, 2023

Georgia Leasing Activity Office Southeast

CP Group Signs Two New Tenants at 3225 Cumberland Office Building in Atlanta

by John Nelson September 19, 2023

ATLANTA — CP Group has signed leases with two new tenants at its 220,000-square-foot office building located at 3225 Cumberland Blvd. in Atlanta. Steam Logistics and National Endovascular Associates will occupy 10,900 and 6,144 square feet at the nine-story property, respectively. Amenities at the building, which is located roughly one mile from Cobb Galleria Centre and two miles from Truist Park, include a fitness center, shared conference rooms, transportation lounge and 24-hour security. Paul Hanna of JLL represented Steam Logistics in the lease negotiations, and Bill Langley of DT Spade represented National Endovascular Associates. Kevin Driver and Parker Welton of Stream Realty Partners represented the Boca Raton, Fla.-based landlord in both transactions.

September 19, 2023

Acquisitions Georgia Healthcare Southeast

Bull Realty Brokers $5.9M Sale of Two-Property Medical Office Building Portfolio in Metro Atlanta

by John Nelson September 19, 2023

DULUTH AND SUWANEE, GA. — Atlanta-based Bull Realty Inc. has brokered the $5.9 million sale of a two-property medical office building portfolio in metro Atlanta. The single-tenant assets, located at 3850 Pleasant Hill Drive in Duluth and 3770 Paddocks Parkway in Suwanee, were fully leased to Anne Arundel Dermatology at the time of sale. The buyer was a partnership between two entities doing business as GB Derm Medical LLC and Safe Harbour Exchange LLC. Paul Zeman of Bull Realty’s Healthcare Services Group represented the seller, an unnamed high-net-worth individual.

September 19, 2023

Company News Georgia Office Southeast

US Soccer to Relocate from Chicago to Atlanta, Build National Training Center

by John Nelson September 18, 2023

ATLANTA — The U.S. Soccer Federation has announced plans to develop a National Training Center in Atlanta, relocating the organization’s headquarters from Chicago. The center will be utilized by all of the 27 U.S. Soccer National Teams. Philanthropist and owner of the Atlanta Falcons and Atlanta United Arthur Blank has contributed $50 million to support the development of the center. Part of the contribution will be dedicated to the construction of facilities for U.S. Soccer’s nine Extended National Teams (ENTs), particularly the Cerebral Palsy, Deaf and Power Soccer teams. Support from the Arthur M. Blank Family Foundation will also provide community programming. Advised by Deloitte, J.T. Batson, CEO and secretary general of U.S. Soccer, is leading the search for a site in metro Atlanta. A final decision on the location for the development will be made in January.

September 18, 2023

Development Georgia Multifamily Southeast

RangeWater to Break Ground on 304-Unit Apartment Community in Metro Atlanta

by John Nelson September 18, 2023

DORAVILLE, GA. — RangeWater Real Estate will break ground on Camino, a 304-unit apartment community to be located at 3712 Stewart Road in Doraville, roughly 15 miles northeast of Atlanta. Scheduled for completion in spring 2025, the development will feature micro, studio, one-, two- and three-bedroom apartments ranging from 474 to 1,411 square feet. Amenities at the property will include a dog park and spa, pool courtyard, coworking offices with a dedicated podcast recording space, an outdoor grilling station, fitness center, rooftop lounge and a private speakeasy. This marks the fourth project for RangeWater’s in-house construction firm.

September 18, 2023

Acquisitions Georgia Multifamily Southeast

Tishman Speyer Acquires 502-Unit Apartment Community in North Atlanta Suburb

by John Nelson September 15, 2023

SANDY SPRINGS, GA. — An affiliate of Tishman Speyer has acquired Avia at North Springs, an apartment community located in the northern Atlanta suburb of Sandy Springs. The property, which will be renamed Randolph Perimeter, totals 502 units across 22 buildings. The seller and sales price were not disclosed, but Atlanta Business Chronicle reports that Harbor Group International LLC sold the asset for $107.5 million. CBRE represented the seller in the transaction, and Jay Wagley of CBRE’s Dallas office arranged acquisition financing on behalf of the borrower. Constructed in two phases between 1989 and 1996, the community features apartments in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, two swimming pools, tennis courts, a playground and walking trails throughout the 18.6-acre property. Tishman Speyer purchased the community through its TS Communities platform and plans to implement renovations to the units and amenities, including the addition of a fitness center, pickleball court, poolside lounges and an outdoor TV lounge with entertainment and gaming space.

September 15, 2023

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