Georgia

Colliers Brokers $16.3M Sale-Leaseback for Distribution Center in Adairsville, Georgia

by John Nelson January 25, 2024

ADAIRSVILLE, GA. — Colliers has brokered the $16.3 million sale-leaseback of 400 Princeton Boulevard, a 294,020-square-foot distribution center located on a 17.5-acre site in Adairsville, about 60 miles northwest of Atlanta via I-75. The seller, The Dixie Group, sold the facility and leased it back for 10 years from the buyer, a private owner-operator based in California. Todd Harrell and Steve Bartlett of Colliers represented the seller in the transaction. Hagan Dick and Doug Alexander of Colliers’ Debt & Equity team assisted with the loan assumption on behalf of the buyer. 400 Princeton is close to I-75, Ga. Highway 104 and a CSX rail line, as well as within an hour’s drive to Appalachian Regional Port, an inland port that provides direct rail connection to the Port of Savannah.

January 25, 2024

Georgia Loans Multifamily North Carolina South Carolina Southeast

JLL Secures $149M Financing for Southeast Multifamily Portfolio

by John Nelson January 24, 2024

SAN DIEGO — JLL has secured a $149 million loan for the refinancing of a three-property multifamily portfolio in the Southeastern United States. Aldon Cole, Tim Wright and Bharat Madan of JLL’s San Diego office arranged the three-year, fixed-rate loan through a life insurance company on behalf of the borrower, Sunroad Enterprises. The properties in the portfolio include the 313-unit Verde Vista in Asheville, N.C.; the 288-unit Avenues at Verdier Point in Charleston, S.C.; and the 256-unit Adara at Godley Station in Savannah, Ga. San Diego-based Sunroad Enterprises acquired the three properties in 2021 and has since completed 100 percent of its planned exterior and common area renovations and 50 percent of interior renovations.

January 24, 2024

Development Georgia Hospitality Mixed-Use Southeast

Jamestown Announces Details for 405-Unit Hospitality Tower at Ponce City Market in Atlanta

by John Nelson January 24, 2024

ATLANTA — Jamestown has announced details about its 405-unit hospitality tower underway at Ponce City Market, a large-scale mixed-use development in Atlanta’s Old Fourth Ward district. The project, branded Scout Living, is part of Ponce City Market’s second phase, which also includes 619 Ponce and Signal House. The property will feature fully furnished one- and two-bedroom units for short-term and extended stays, including full kitchens, appliances and separate living and sleeping spaces. Rooftop amenities will include a pool, wellness studio, terrace, rentable livings rooms and a chef’s kitchen. Scout Living’s second floor will feature lounge, meeting and event spaces for guests. The property will also feature 12,000 square feet of retail space with 21-foot ceilings on the ground floor that will be occupied by a food-and-beverage concept and convenience shopping, as well as a courtyard that connects the property to other elements of Ponce City Market and the Atlanta BeltLine. When Phase II construction is complete, Ponce City Market will include five buildings offering more than 700,000 square feet of office space, 350,000 square feet of retail space and more than 800 residential and hospitality living units. Jamestown is aiming for all three components of Phase II to achieve LEED …

January 24, 2024

Development Georgia Loans Multifamily Southeast

BWE Arranges $29.5M Construction Loan for Apartment Development in Oakwood, Georgia

by John Nelson January 24, 2024

OAKWOOD, GA. — BWE (formerly Bellwether Enterprise) has arranged a $29.5 million construction loan for the development of Imperium Oakwood, a 229-unit apartment development in Oakwood, about 48 miles northeast of Atlanta. Thomas Wiedeman, Alan Tapie, Hanley Long and Brad Walker of BWE arranged the fixed-rate loan through an unnamed community bank on behalf of the developer, Alpharetta, Ga.-based Imperium Development. The property will be situated adjacent to University of North Georgia’s Gainesville campus and will feature a clubhouse with fitness and office rooms, resort-style pool, fireplace, grill stations, covered lounge, game area, onsite parking and a dog park with a wash station. The construction timeline was not disclosed.

January 24, 2024

Acquisitions Georgia Industrial Kentucky Loans North Carolina South Carolina Southeast Tennessee

PCCP Provides $102M Acquisition Loan for Southeast Industrial Portfolio

by John Nelson January 22, 2024

LOS ANGELES — Los Angeles-based PCCP LLC has provided a $102 million acquisition loan to Stoltz Real Estate Partners, a real estate fund manager based in Bala Cynwyd, Pa., for a five-property industrial portfolio in the Southeastern United States. John Alascio, Alex Hernandez, Chris Meloni, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield arranged the financing on behalf of Stoltz. The 1.6 million-square-foot portfolio is located within the Atlanta, Charleston, Charlotte, Louisville and Nashville MSAs. The properties were fully leased at the time of financing to seven tenants that had a weighted average lease term (WALT) remaining of 4.6 years. All five properties were developed between 2018 and 2023 and range in size from 157,000 to 636,000 square feet. The seller and sales price were not disclosed.

January 22, 2024

Georgia Industrial Market Reports Southeast Southeast Market Reports

Emerging Demand and User Trends Propel Atlanta as an Industrial Hotspot

by John Nelson January 22, 2024

Atlanta’s industrial sector and its historically strong performance have fortified the city as a strategic Southeast location and gateway market nationwide. Activity, which has decreased since peak demand during the COVID-19 pandemic, is now returning to normalized levels. The net new requirement pipeline remains robust primarily due to the influx of manufacturing, advanced manufacturing, life sciences, automotive, alternative energy and data center projects. How owners and tenants invest in industrial properties has also shifted. Owners are seeking properties with short weighted average lease terms and investments below replacement cost. Meanwhile, occupiers are making moves to crisis-proof their networks with onshoring and nearshoring of production that was previously conducted overseas, and they’re adjusting their overall supply chain and logistics strategies to diversify and avoid dependence on one region or vendor. Players in the market remain cautiously optimistic, which has subdued demand, but that is expected to be short-lived once macro-economic conditions stabilize. High inflation and rising interest rates over the past 12 to 18 months have significantly contributed to decreased demand in Atlanta. However, with continued population growth and Atlanta’s central location in the Southeast, the metro area’s compressed demand will be short-lived. With that said, Atlanta’s industrial market remains strong …

January 22, 2024

Acquisitions Georgia Retail Southeast

Nuveen Acquires 80,7480 SF Shopping Center in Metro Atlanta

by John Nelson January 18, 2024

PEACHTREE CITY, GA. — Nuveen Real Estate has acquired Peachtree Crossing, an 80,748-square-foot shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Harbour Real Estate Partners sold the property for an undisclosed price. Brad Buchanan, Jim Hamilton and Andrew Michols of JLL represented the seller in the transaction. Built in 1978 and renovated in 2011, the center was fully leased at the time of sale to tenants including The Fresh Market, Peachtree City Eye Center, Bintelli Golf Carts, Heirloom Market, Mina’s Hallmark, Hollywood Feed, Campanile’s Home Inside & Out, Georgia Shrimp Co. and W. Daly Salon. Situated at 100 N. Peachtree Parkway, the center is located approximately 15 miles south of Hartsfield-Jackson Atlanta International Airport.

January 18, 2024

Acquisitions Georgia Office Southeast

Marcus & Millichap Negotiates $14.5M Sale of Vacant Office Building in Alpharetta, Georgia

by John Nelson January 17, 2024

ALPHARETTA, GA. — Marcus & Millichap has negotiated the $14.5 million sale of Woodside Terrace, a four-story office building located at 3755 Mansell Road in Alpharetta, a northern suburb of Atlanta. The vacant property spans 123,982 square feet and is situated on a 9.9-acre site. Bob Johnson and Paul Johnson of Marcus & Millichap’s Atlanta office represented the seller, Ravi Zacharias International Ministries (RZIM), in the transaction. The buyer is Free Chapel Worship Center. The office building features an onsite café, fitness center, lakeside patio area and a fully operational TV and recording studio. Marcus & Millichap also represented RZIM when the company purchased the asset in 2016.

January 17, 2024

Acquisitions Georgia Southeast Student Housing

Matthews Brokers $5.9M Sale of Student Housing Community Near University of West Georgia

by John Nelson January 17, 2024

CARROLLTON, GA. — Matthews Real Estate Investment Services has brokered the $5.9 million sale of The Cottages UWG, a 26-unit student housing community located at 324 Brumbelow Road near the University of West Georgia (UWG) campus in Carrollton. Developed in 2013, the property spans 37,760 square feet and was 98 percent occupied at the time of sale. Austin Graham of Matthews represented the undisclosed seller in the transaction. The buyer, a Florida-based investor, has development rights to add 42 beds to the property.

January 17, 2024

Development Georgia Retail Southeast

Buc-ee’s to Develop 74,000 SF Travel Center in Brunswick, Georgia

by John Nelson January 16, 2024

BRUNSWICK, GA. — Buc-ee’s will develop a 74,000-square-foot travel center in Brunswick, a coastal Georgia city midway between Savannah and Jacksonville along I-95. Construction is scheduled to begin Jan. 29. Upon completion, the property will feature 120 fueling stations, as well as a store offering snack, meal and drink options. Buc-ee’s currently operates 47 stores throughout its home state of Texas, as well as Alabama, Florida, Georgia, Kentucky, South Carolina, Missouri and Tennessee. The company is also underway on two travel centers in Virginia — one near Richmond along I-64 and another near Harrisonburg along I-81.

January 16, 2024

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