Friday, April 4, 2025
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DevelopmentGeorgiaIndustrialSoutheast

Trammell Crow Co., CBRE IM Deliver 1.5 MSF First Phase of Business Park in Pendergrass, Georgia

by John Nelson

PENDERGRASS, GA. — A joint venture between Trammell Crow Co. and CBRE IM has delivered Phase I of Jackson 85 North Business Park in Pendergrass, about 60 miles northeast of Atlanta. Situated on 215 acres, Phase I comprises two Class A warehouse buildings totaling 1.5 million square feet. Building 1 totals 538,450 square feet and Building 2 totals roughly 1 million square feet. The warehouses feature 40-foot clear heights, 185-foot concrete truck courts, parking space for vehicles and trailers, more than 290 dock door positions and four drive-in ramps. Additionally, the facilities include electrical service, an ESFR fire protection system, watertight roofing systems that can accommodate solar panels and 3,900 square feet of interior office space for each building. Phase II, which is currently underway, will include two warehouses spanning 210,080 square feet and 524,160 square feet. Phase II will also include a build-to-suit project up to 750,000 square feet. Wilson, Hull & Neal Real Estate is leading the marketing and leasing efforts for the project.

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Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Jim Chapman Group to Begin Construction on 365-Unit Build-to-Rent Community in Richmond Hill, Georgia

by John Nelson

RICHMOND HILL, GA. — Georgia-based general contractor Jim Chapman Construction Group (JCCG) plans to soon begin construction on a 365-unit build-to-rent community in the Savannah suburb of Richmond Hill. The property will be situated on 48 acres in the larger 7,000-acre master-planned community of Heartwood at Richmond Hill and will be developed in two phases. Phase I of vertical construction is slated to begin in August. The development — which will contain 213 lots — comprises attached and freestanding homes with ranch-style and two-story floorplans. Phase II will immediately follow.

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AcquisitionsGeorgiaLoansMultifamilySoutheast

Northmarq Provides $36.5M Acquisition Financing for Multifamily Property in Grayson, Georgia

by John Nelson

GRAYSON, GA. — Northmarq’s Atlanta Debt + Equity team led by Faron Thompson and Van Glosson has provided $36.5 million in financing for the acquisition of The Dylan at Grayson, a 234-unit multifamily property in Grayson, a northeast suburb of Atlanta in Gwinnett County. Built in 2020, the four-story building offers one-, two- and three-bedroom floorplans that range in size from 687 square feet to 1,454 square feet, according to Apartments.com. Community amenities include a resort-style pool and sundeck, sand volleyball court, yoga studio, pet spa, dog park, coworking spaces, resident café, 24/7 fitness center, game room, fire pits, grill stations, outdoor greenspaces and electric vehicle charging stations. Northmarq originated the Freddie Mac loan on behalf of the borrower, Atlanta-based Inwood Holdings LLC. The loan features a seven-year term with a fixed interest rate and a 35-year amortization schedule.

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Affordable HousingDevelopmentGeorgiaLoansMultifamilySoutheast

Berkadia Arranges $28.3M HUD-Insured Construction Loan for Mixed-Income Community in Atlanta

by John Nelson

ATLANTA — Berkadia has arranged a $28.3 million HUD 221(d)(4) loan for the construction of Englewood Multifamily, a 200-unit mixed-income community underway in Atlanta’s Chosewood Park neighborhood. The non-recourse, fully amortizing loan features a construction-to-perm structure that covers the construction period followed by a 40-year amortization schedule. Carolyn Whatley and Angela Folkers of Berkadia’s FHA/HUD team originated the financing on behalf of the co-developers, The Benoit Group and the City of Atlanta’s Housing Authority (AHA). Englewood Multifamily is part of a 37-acre master-planned development and represents the second building within Phase I of the redevelopment of Englewood Manor on Atlanta’s southeast side. Englewood Multifamily’s development costs are estimated to exceed $86 million. The property will feature 80 percent of the units reserved for households earning 60 percent or less of AMI with the remainder rented at market rates. The community will also include 21,844 square feet of commercial space. The network of companies and organizations that are bringing the Englewood Multifamily development to fruition include the following:

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CivicData CentersDevelopmentGeorgiaIndustrialMixed-UseMultifamilyRestaurantRetailSoutheast

Hines, Aubrey to Develop 10 MSF Mixed-Use Campus in Suburban Atlanta

by John Nelson

BARTOW COUNTY, GA. — Hines and Aubrey Corp. plan to co-develop a new 10 million-square-foot mixed-use community in Bartow County, a northwest suburban node of Atlanta. The master-planned project, called Aubrey Village, will sit on 2,390 acres at the I-75 interchange with U.S. Route 411, which is located near multibillion-dollar plants underway for Hyundai-SK Battery and QCells. Once complete, the development will include new manufacturing, data center and logistics facilities, as well as a supermarket, shops, restaurants, hotels and a variety of residential properties that will accommodate 2,800 families. The industrial-zoned land spans 1,200 acres and will accommodate two industrial parks. Aubrey Village will also feature a network of trails, parks and walkways and a Bartow County public school. The project is projected to be completed over the next 10 to 12 years in several phases, with Hines expecting to break ground on the initial infrastructure later this year or in 2026. Jim Ramseur and Samantha Wheeler with Lee & Associates represented Aubrey Corp. in venture formation, and Ramseur Real Estate Advisors will act as the managing consultant for the co-developers’ commercial and residential parcels moving forward.

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DevelopmentGeorgiaMultifamilySoutheast

McShane Construction Completes 318-Unit Apartment Complex in Kennesaw, Georgia

by John Nelson

KENNESAW, GA — McShane Construction Co. has completed The Lacy at South Main, a 318-unit apartment complex located in downtown Kennesaw. The developer is Highpoint Development. Designed by Niles Bolton Associates, the four-story complex offers one-, two- and three-bedroom floor plans that range from 708 to 1,505 square feet in size, according to Apartments.com. Apartments are available for lease, with monthly rental rates beginning at $1,625. Amenities include a 24/7 fitness center, lounge, coffee bar, swimming pool, two courtyards, grilling stations, coworking spaces and a pet park. Additionally, the site offers controlled-access parking and electric vehicle charging stations. Situated on 19 acres, the complex is part of a larger mixed-use community that features 44 townhomes, a retail outparcel and a linear park space.

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AcquisitionsGeorgiaRetailSoutheast

Prudent Growth Purchases Retail Strip Center in McDonough, Georgia for $2.6M

by John Nelson

MCDONOUGH, GA. — Prudent Growth Partners LLC, a Chapel Hill, N.C.-based private equity firm, has purchased Lake Dow Pavilion, an 18,000-square-foot retail strip center in McDonough, a southern suburb of Atlanta. The undisclosed seller sold the property for approximately $2.6 million. Lake Dow Pavilion was fully leased at the time of sale and features a combination of local tenants and future upside from potential mark-to-market leasing opportunities. According to LoopNet Inc., the center was built in 2001 on a 2.4-acre site along Ga. Highway 81.

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DevelopmentFeaturesGeorgiaSoutheastStudent Housing

Student Housing Interior Designers, Developers Weigh In on What’s Hot and What’s Not

by John Nelson

As the student housing sector readies for a new generation of students to enter campuses — Generation Alpha — a few of the ‘tried and true’ amenity spaces that were hot with millennials or Gen Z have fallen by the wayside. Golf simulators, movie theaters and bohemian styling with baskets and lots of greenery are just a few of the once popular design choices that are now on the outs, according to Lucy Harrison, brand marketing manager with SouthPark Interiors.   Gone, too, are the days of designing one ‘Instagramable’ moment for your building and calling it a day, says Chelsea Kloss, executive vice president of design and curation with LV Collective. “Students want to live in a building that is beautiful and inspiring from all angles — not just with one space built for ‘the gram,’” she says. “They want not only to capture more organic content to share, but to experience it real-time. As designers, that challenges us to push the envelope on experiential design and the importance of finishing all aspects of a built environment.” Students’ desires for their fitness and wellness spaces have also seen a shift over the past few years, according to Kloss. “Designing …

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GeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Five New Tenants Join Atlantic Station Roster in Midtown Atlanta

by John Nelson

ATLANTA — Five new retailers and restaurants have joined the tenant roster at Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. Houston-based Hines, which has owned the retail portion of the property since 2015, recently signed donut and desserts eatery Yonutz; cookie concept Munster Cravings; candle-making experiential retailer Candleporium Fragrance House; and car wash and detailing shop Dirty Horse Paint Protection and Auto Detailing to the lineup. Additionally, Lucky Strike Entertainment has backfilled and rebranded Atlantic Station’s Bowlero bowling alley. Opened in 2005, Atlantic Station features 523,511 square feet of retail, entertainment and restaurant space; 2 million square feet of Class A office space, including offices for Microsoft; two full-service hotels; multiple apartments, lofts and luxury condo residences; and freestanding IKEA, Target and Dillard’s stores. 

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AcquisitionsGeorgiaSoutheastStudent Housing

JLL Negotiates Sale of 656-Bed Student Housing Community Near Kennesaw State University

by John Nelson

KENNESAW, GA. — JLL has negotiated the sale of Bixby Kennesaw, a 656-bed student housing community located near the Kennesaw State University campus in metro Atlanta. Completed in 2020, the property offers 179 units in a mix of studio through five-bedroom configurations. Shared amenities include a rooftop sky deck overlooking the university’s football stadium, resort-style swimming pool, fitness center and multiple study spaces. Teddy Leatherman, Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller, Alden Street Capital, in the disposition. The buyer and terms of the transaction were not released. 

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