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Georgia

AcquisitionsGeorgiaIndustrialSoutheast

JLL Arranges $116.5M Sale of 1.2 MSF Industrial Portfolio in Dalton, Georgia

by John Nelson

DALTON, GA. — JLL has arranged the $116.5 million sale of a nearly 1.2 million-square-foot industrial portfolio situated within Greenpoint Industrial Park in Dalton, a city in north Georgia near the Tennessee border. The portfolio includes 128 Innovation Drive, a 603,166-square-foot facility delivered in 2023, and 342 Innovation Drive, a 573,578-square-foot property delivered in January 2024. A joint venture between LX Pantos and KOBC (Korea Ocean Business Corp.) advised by IGIS Asset Management acquired the two facilities from the developer, Dossche Holdings. Dennis Mitchell, Britton Burdette, Jim Freeman and Maggie Dominguez of JLL represented the seller in the transaction, and Miyeon Lee of JLL’s International Capital Coverage team sourced the buyer. Austin Kriz, Tom Cromartie and Rachel Roberts of JLL were the leasing agents for both properties, which are situated near I-75 and the Appalachian Regional Port.

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DevelopmentGeorgiaLoansMixed-UseMultifamilyRestaurantRetailSoutheast

CCI Real Estate Obtains $18M Construction Financing for Mixed-Use Project on Georgia Tech Campus in Atlanta

by John Nelson

ATLANTA — CCI Real Estate has obtained an $18 million construction loan for a mixed-use development at 740 Techwood Drive, which is on the Georgia Tech campus in Atlanta near Bobby Dodd Stadium. CCI is co-developing the 64,000-square-foot project, which will replace the existing Baptist Collegiate Ministries (BCM) location, with the Georgia Baptist Mission Board. Summerhill CRE arranged the financing through locally based Southern States Bank on behalf of the borrower. Set to break ground this summer and open in summer 2027, the five-story project will offer 12,000 square feet of retail and student gathering space on the ground level, as well as 55 one- and two-bedroom residences, upgraded ministry facilities, an onsite coffeeshop and additional lounge space. CCI is also redeveloping existing BCM locations at the University of Georgia in Athens and Georgia Southern University in Statesboro.

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DevelopmentGeorgiaRetailSoutheast

Lincoln Property Co. to Develop 43,700 SF Shopping Center in Alpharetta, Georgia

by John Nelson

ALPHARETTA, GA. — Lincoln Property Co. plans to develop The Shoppes at The Gathering, a new 43,700-square-foot retail center in Alpharetta, a northern suburb of Atlanta. The property will be located within The Gathering-Alpharetta, a new mixed-use development situated within a mile of downtown Alpharetta and Avalon. Site construction has begun and vertical construction is set to begin in the fall. Set for delivery in fall 2026, The Shoppes at The Gathering will include seven buildings ranging in size from 4,225 to 8,400 square feet that can accommodate single or multiple retailers. Franklin Street and Centennial are handling the retail center’s leasing assignment on behalf of Lincoln Property Co.

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GeorgiaLoansSoutheastStudent Housing

Mesa West Capital Originates $134M Loan for Student Housing Community Near University of Georgia

by John Nelson

ATHENS, GA. — Mesa Capital West has provided a $134 million loan to refinance Rambler Athens, a newly constructed, 750-bed student housing complex located adjacent to the University of Georgia in Athens. The four-year loan will refinance the existing construction loan for the property. Harrison Reid of TSB Capital Advisors arranged the financing on behalf of the borrower, Austin-based developer LV Collective. Brian Hirsh and Jonah Sacks of Mesa Capital West’s Chicago office, alongside Russell Frahm from the firm’s New York office, originated the loan. Situated along Broad Street, Rambler Athens was completed in August 2024. The residence offers 342 units across eight floors, ranging from studio to five-bedroom apartments. Amenities at the property include a resort-style pool and hot tub, sun deck with a Jumbotron, fitness center, saunas, workspaces and private study rooms, grilling area and a secured-access parking garage. Additionally, the ground floor includes an integrated coffeeshop, as well as a variety of study spaces. Preleasing at the property is currently available for the 2025/2026 academic year.

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FloridaGeorgiaIndustrialLoansNorth CarolinaSoutheast

McCraney Property Obtains $55M Refinancing for Southeast Industrial Portfolio

by John Nelson

ORLANDO, FLA. — McCraney Property Co. has obtained three loans totaling $55 million for the refinancing of a Class A industrial portfolio in the Southeast. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL arranged the three non-recourse loans on behalf of the Orlando-based industrial developer. The direct lenders were not disclosed. Built between 2023 and 2024, the portfolio includes 41 Logistics in Adairsville, Ga. (390,498 square feet); Royal Palm Logistics in Royal Palm Beach, Fla. (128,684 square feet); and Davidson 85 in Concord, N.C. (146,628 square feet). The portfolio was 94.7 percent leased at the time of financing to a diverse tenant roster. The refinancing comprised a $25.8 million loan for 41 Logistics, a $16 million loan for Royal Palm Logistics and a $13.2 million loan for Davidson 85.

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AcquisitionsGeorgiaOfficeSoutheast

Landmark, Westlake Capital Acquire 536,547 SF Office Campus in Atlanta’s Buckhead District

by John Nelson

ATLANTA — A joint venture between a nationally prominent developer of student housing, Landmark Properties, and its family office, Westlake Capital, has acquired Northcreek Office Park, a 536,547-square-foot office campus in the Buckhead neighborhood of Atlanta. Richard Reid of JLL represented the seller in the transaction. The sales price was also not disclosed. Landmark Properties plans to utilize some of the office space to accommodate its growing Atlanta workforce while maintaining its headquarters in Athens, Ga., as well as its existing executive offices at nearby Buckhead Plaza. Situated on about 40 acres, the four-building campus was renovated from 2003 to 2009 and comprises a roster of more than 70 tenants. The property features a range of onsite amenities including a café, conference and meeting facility, fitness center and 24/7 security with key-card access. Landmark plans to revitalize the common area within Northcreek Office Park to enhance tenant amenities. Additionally, Regent Partners will relocate its corporate office to Northcreek Office Park to continue serving as its property manager and leasing agent.

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GeorgiaLeasing ActivityOfficeSoutheast

Law Firm Moves Atlanta Office to Promenade Tower in Midtown With 61,470 SF Lease

by John Nelson

ATLANTA — Business law firm Bradley Arant Boult Cummings LLP has signed a 61,470-square-foot lease to officially move its Atlanta office to a newly renovated office suite in Promenade Tower, which is located at 1230 Peachtree St. NE in Midtown. The firm will occupy floors 19-21. Owned by Cousins Properties, the 777,050-square-foot office tower offers conference facilities, enhanced technology, flexible workspaces and a range of amenities including a fitness center, onsite dining options and direct access to public transit. Bradley has grown from 20 attorneys to 58 attorneys since launching its Atlanta office in May 2023.

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AcquisitionsGeorgiaIndustrialLoansSoutheast

CBRE Secures $26.4M Acquisition Loan for Industrial Property in Tucker, Georgia

by John Nelson

TUCKER, GA. — CBRE has secured a $26.4 million acquisition loan for Lavista Business Park, a 217,496-square-foot industrial property located on 11.8 acres at 2000-2068 Weems Road in Tucker, about 18 miles northeast of Atlanta. Irvine, Calif.-based CIP Real Estate purchased the park from Dallas-based ATCAP Partners for $37 million. Mike Ryan, Brian Linnihan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta secured the five-year, floating-rate loan through LoanCore Capital on behalf of CIP. Built in 1972, Lavista Business Park consists of four single-story, shallow-bay buildings that average 54,000 square feet in size and feature new roofing, 16- to 20-foot clear heights, 55 dock-high doors, one drive-in door and 209 parking spaces. The property was 92 percent leased at the time of sale to 15 tenants.

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AcquisitionsGeorgiaMultifamilySoutheast

Matthews Brokers $21.6M Sale of Woodland Commons Apartments in Newnan, Georgia

by John Nelson

NEWNAN, GA. — Matthews Real Estate Investment Services has brokered the $21.6 million sale of Woodland Commons, a 114-unit apartment community located at 22 Forest Circle in Newnan, about 36 miles southwest of Atlanta. Marietta, Ga.-based Arcan Capital purchased the property from TriWest Multifamily in a 1031 exchange and assumed an undisclosed amount of existing debt. The El Segundo, Calif.-based seller had owned the community, which was originally built in 2002, since 2022. Austin Graham of Matthews brokered the transaction. Woodland Commons features one-, two- and three-bedroom apartments ranging in size from 878 to 1,329 square feet, according to Apartments.com. Community amenities include a swimming pool, laundry facilities, a business center, fitness center, playground and a car wash area.

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AcquisitionsGeorgiaMultifamilySoutheast

Marcus & Millichap Brokers $18.3M Sale of Apartment Community in Valdosta, Georgia

by John Nelson

VALDOSTA, GA. — Marcus & Millichap has brokered the $18.3 million sale of 805 Harmon Heights Apartments & Condos, a 100-unit multifamily community located at 805 Harmon Drive in Valdosta. The buyer, an unnamed Tennessee-based firm, acquired the property from Bobby Diaz of Diaz Construction LLC, the local developer and operator of the property. John Brigel of Marcus & Millichap’s Tampa office represented the seller in the transaction with assistance from John Leonard, Marcus & Millichap’s broker of record for Georgia. 805 Harmon Heights was delivered between 2009 and 2021 and was recently renovated. The property features one-, two- and three-bedroom apartments across nine buildings. Brigel says that the sales price of $182,500 per unit is “a record-setting figure for South Georgia.”

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