Georgia

NAP, Nuveen Break Ground on Mixed-Use Redevelopment of Forum Peachtree Corners in Metro Atlanta

by John Nelson May 4, 2023

PEACHTREE CORNERS, GA. — North American Properties (NAP), a mixed-use developer and owner based in Cincinnati, has partnered with Nuveen Real Estate to begin the redevelopment of The Forum Peachtree Corners. The duo acquired the north-suburban Atlanta shopping center in March 2022 and are breaking ground on the project that will add a 125-room boutique hotel, 381 apartments, experiential retailers, eateries, structured parking and new public spaces to the site. In addition to these uses, the developers will implement concierge services and valet offerings to patrons. Prior to the groundbreaking, NAP and Nuveen rebranded the property (formerly known as The Forum on Peachtree Parkway) and invested in upgrades to maintenance, security and software, as well as rolled out an event calendar. The construction timeline was not disclosed, but the developers plan to deliver the redevelopment in phases, beginning with the retail- and pedestrian-focused upgrades.

May 4, 2023

Acquisitions Georgia Loans Multifamily Southeast

Greystone Provides $10.4M Acquisition Loan for Park Estates Apartments in Decatur, Georgia

by John Nelson May 4, 2023

DECATUR, GA. — Greystone has provided a $10.4 million Fannie Mae loan for the acquisition of Park Estates, a 100-unit apartment community located in the Atlanta suburb of Decatur. Dan Sacks and Avi Kozlowski of Greystone’s New York office arranged the non-recourse, fixed-rate loan on behalf of the borrower, an entity doing business as Park Estates FO LLC. Meridian Capital – New York acted as correspondent on the deal. The five-year loan featured full-term interest-only payments. Built in 1985, Park Estates comprises 13 garden-style buildings housing two-bedroom apartments.

May 4, 2023

Development Georgia Industrial Office Southeast

Electric Owl Studios to Open 312,000 SF Film, TV Studio in Atlanta

by John Nelson May 3, 2023

ATLANTA — Electric Owl Studios plans to open a 312,000-square-foot film and TV studio in Atlanta’s DeKalb County next month. Located at 3963 Redan Road near the Indian Creek MARTA station, the production facility is the only ground-up LEED Gold-certified studio campus in the world, according to Electric Owl. With six purpose-built sound stages and ancillary and parking space, the studio is large enough to support a tentpole feature film or two large-scale TV series. Electric Owl Studios was founded by former Third Rail Studios executives Dan Rosenfelt and Michael Hah. The Atlanta property is the debut studio for Electric Owl, which is currently developing a second studio on an 18-acre site in New York that is set to open in summer 2025.

May 3, 2023

Development Georgia Mixed-Use Southeast

Spalding Site Partners to Develop 2.2-Acre Mixed-Use Property in Metro Atlanta

by John Nelson May 1, 2023

PEACHTREE CORNERS, GA. — Spalding Site Partners LLC has acquired a 2.2-acre land parcel in Peachtree Corners with plans to develop a mixed-use property. Upon completion, the development will include 170 residential units, ground-floor retail space, a fitness center and an extension of the Peachtree Corners public trail system. Redline Property Partners, which has a 98,040-square-foot office building at the site, sold the land for an undisclosed price.

May 1, 2023

Acquisitions Georgia Multifamily Southeast

Olympus Property Purchases 203-Unit Apartment Community in Savannah

by John Nelson April 28, 2023

SAVANNAH, GA. — Olympus Property has acquired Capital Crest at Godley Station, a 203-unit apartment community located in Savannah. Built in 2017 along Benton Boulevard, the property offers 14 floor plans in one-, two- and three-bedroom layouts. Amenities at the community include a 2,500-square-foot sports club, saltwater swimming pool, poolside cabanas and fireplace, a theater, car care center, dog park, pet spa and attached and detached garage parking. The seller and purchase price were not disclosed.

April 28, 2023

Development Georgia Industrial Southeast

Lineage Logistics Opens $78M Industrial Facility Near Port of Savannah

by John Nelson April 27, 2023

PORT WENTWORTH, GA. — Lineage Logistics has opened Savannah Fresh-Port Wentworth, a 220,000-square-foot industrial facility near the Port of Savannah. The $78 million development supports 65 new jobs. The temperature-controlled facility has 23 inbound and outbound lanes that can process more than 40 trucks daily, moving up to 1.4 million pounds of produce per day, according to Lineage. The new facility brings the Michigan-based REIT’s total investment in Chatham County to more than $100 million and its Georgia portfolio to over 3 million square feet.

April 27, 2023

Development Georgia Multifamily Southeast

Atlas, FIDES to Break Ground on $70M Multifamily Project in Chamblee, Georgia

by John Nelson April 27, 2023

CHAMBLEE, GA. — Atlas Real Estate Partners and FIDES Development plan to break ground in early May on The Hawkins, a $70 million multifamily community in the Atlanta suburb of Chamblee. The 192-unit mid-rise community will feature a mix of one-, two- and three-bedroom floor plans, as well as 15,000 square feet of amenity and commercial space. Amenities will include a fitness center, coworking space, pet spa, dog park, community room, pool courtyard, bike room and a rooftop lounge overlooking the nearby DeKalb-Peachtree Airport.

April 27, 2023

Georgia Leasing Activity Office Southeast

Colliers Inks Two New Leases at 101 W Ponce Office Building in Decatur, Georgia

by John Nelson April 25, 2023

DECATUR, GA. — Colliers has signed two new tenants to join 101 W Ponce, a 109,000-square-foot office building in downtown Decatur. The RMR Group manages the six-story office building and recently finished renovations. The two new tenants are the National Association of Chronic Disease Directors (NACDD), which will lease 18,411 square feet, and gaming company Aristocrat Technologies, which will lease 6,404 square feet. Heather Lamb and Jessica Doyle of Colliers represented the landlord in both lease deals. Mitch Kahlert and Jimmy Sanders of ICON Commercial represented NACDD, and David Todd and Detra Reid of CBRE represented Aristocrat Technologies.

April 25, 2023

Development Georgia Multifamily Southeast

Novare, BCDC Begin Construction on 302-Unit Apartment Community in Metro Savannah

by John Nelson April 24, 2023

RICHMOND HILL, GA. — Novare Group and Batson-Cook Development Co. (BCDC) have broken ground on a 302-unit apartment community in Richmond Hill, roughly 20 miles outside of Savannah. Upon completion, the property will form the multifamily component of the 7,000-acre master-planned, mixed-use development Heartwood at Richmond Hill. Designed by Humphreys & Partners Architects, the community will feature amenities including a swimming pool with cabanas, an outdoor deck with kitchen space, a fire pit, fitness center, flexible workspace, dog park, detached parking garages and carports. Classic Plains is the general contractor, and Trustmark National Bank and Atlantic Union Bank are providing financing for the project. Delivery of the first units is scheduled for the third quarter of 2024.

April 24, 2023

Development Georgia Mixed-Use Multifamily Southeast

Portman, National Real Estate Advisors Top Out 370-Unit Residential Tower in Midtown Atlanta

by John Nelson April 24, 2023

ATLANTA — Portman and National Real Estate Advisors have topped out Sora at Spring Quarter, a 370-unit residential tower located at the corner of Spring and 10th streets in Atlanta’s Midtown neighborhood. Upon completion, the property will feature 11,000 square feet of ground-floor retail space, an infrared sauna, fitness centers, golf simulators, outdoor lawn areas, party rooms, coworking spaces, a pet run and spa, sky lounge, swimming pool and a media room. Sora is the first phase of Portman’s larger Spring Quarter mixed-use development, which will be anchored by The Patterson, an existing funeral home that will be preserved, as well as a 525,000-square-foot office tower called 1020 Spring and 40,000 square feet of retail space. The first units of Sora are scheduled for delivery this summer.

April 24, 2023

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