Georgia

CBRE Brokers Two Sales of Metro Atlanta Retail Strip Centers Totaling $4.4M

by John Nelson April 19, 2023

NEWNAN AND ELLENWOOD, GA. — CBRE has brokered the sales of two retail strip centers in south metro Atlanta totaling nearly $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located at 1065 Sullivan Road in Newnan, and Ellenwood Plaza, a 9,450-square-foot asset located at 222 Fairview Road in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman and Surge Staffing. Ellenwood Plaza was 95 percent leased to tenants including Metro PCS and Domino’s Pizza.

April 19, 2023

Acquisitions Georgia Industrial Southeast

Cosmetics Company Kiss Acquires New 708,990 SF Warehouse Near Savannah from CRG

by John Nelson April 18, 2023

ELLABELL, GA. — Kiss, a global cosmetics company, has acquired a 708,990-square-foot industrial facility underway in the western Savannah suburb of Ellabell. CRG sold the warehouse, which will be located within the developer’s 300-acre The Cubes at Interstate II campus. Chris Tomasulo, Ryan Hoyt and Bennett Rudder of JLL represented CRG in the transaction. The sales price was not disclosed. Kiss plans to utilize the property for distribution of its cosmetics products once completed. Located at 1864 Interstate Blvd., Building B at The Cubes at Interstate II is located less than two miles from I-16, 15 miles from I-95, 25 miles from Savannah/Hilton Head International Airport and approximately 30 miles west of the Port of Savannah. The development is part of the larger Interstate Centre industrial park in Bryan County. At full buildout, The Cubes at Interstate II will span 4.3 million square feet of industrial space leased to tenants such as Rooms To Go and McKesson Medical-Surgical, among others.

April 18, 2023

Acquisitions Georgia Multifamily Southeast

FCP Purchases Apartment Community in Marietta, Georgia for $51M

by John Nelson April 18, 2023

MARIETTA, GA. — FCP has purchased Amber Grove at Olley Creek Apartments, a 360-unit community located in the north Atlanta suburb of Marietta. Travis Presnell and James Wilber of Cushman & Wakefield represented the undisclosed seller in the $51 million transaction. Located at 2050 Austell Road, the gated property features a leasing center and club room, swimming pool, dog park, fitness center, community garden and a playground. FCP plans to add in-unit washers and dryers and provide an afterschool program for children living at the property. With the purchase of Amber Grove at Olley Creek, the Chevy Chase, Md.-based investment firm now owns 7,230 apartment units in the metro Atlanta area.

April 18, 2023

Development Georgia Industrial Southeast

Seohan Auto Georgia to Develop $72M Manufacturing Facility Near Savannah

by John Nelson April 17, 2023

MIDWAY, GA. — Seohan Auto Georgia, a subsidiary of South Korean automobile parts manufacturer Seohan Group, will construct a new facility in Midway, approximately 35 miles outside Savannah. Seohan plans to invest $72 million into the development, which will be situated within the Tradeport East Business Center, a Georgia Ready for Accelerated Development (GRAD) site. Production at the facility is scheduled to begin in late 2024. Alyce Thornhill of the Georgia Department of Economic Development (GDEcD), in partnership with the Liberty County Industrial Development Authority, Georgia Ports Authority, Georgia Quick Start and Georgia Power, negotiated the terms of the project. Seohan, which manufacturers front and rear axles and drive shafts, is one of many automotive suppliers expanding near Hyundai’s planned $5.5 billion campus in the Savannah region.

April 17, 2023

Acquisitions Georgia Retail Southeast

CBRE Arranges Sale of Publix-Anchored Shopping Center in Suwanee, Georgia

by John Nelson April 13, 2023

SUWANEE, GA. — CBRE has arranged the sale of The Village Shoppes at Windermere, a Publix-anchored shopping center located in the Atlanta suburb of Suwanee. Cincinnati-based Phillips Edison & Co. purchased the property from San Antonio-based Affinius Capital (formerly USAA Real Estate) for an undisclosed price. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners – Southeast team represented the seller in the transaction. Located at 3120-3130 Mathis Airport Parkway in Gwinnett County, the 73,404-square-foot shopping center houses a dry cleaner, martial arts studio, nail salon, orthodontics office and a Mexican restaurant, among other tenants. Village Shoppes was 93.3 percent leased at the time of sale, with two vacancies totaling nearly 5,000 square feet remaining.

April 13, 2023

Acquisitions Affordable Housing Georgia Multifamily Southeast

GREA Arranges $6.5M Sale of Affordable Housing Community in Douglasville, Georgia

by John Nelson April 12, 2023

DOUGLASVILLE, GA. — GREA (Global Real Estate Advisors) has arranged the $6.5 million sale of Douglasville Proper, a 100-unit affordable housing community located at 8424 Chicago Ave. in Douglasville, a suburb of Atlanta. Cory Caroline Sams and Taylor Brown of GREA represented the seller, Signature Management, in the transaction. The buyer, S & S Capital Partners, plans to preserve the affordability of the LIHTC property during its ownership. Built in 1995, Douglasville Proper features one-, two- and three-bedroom floor plans.

April 12, 2023

Acquisitions Georgia Loans Multifamily Southeast

Berkadia Arranges $45M Acquisition Financing for Prose Concord Apartments in Jefferson, Georgia

by Jeff Shaw April 10, 2023

JEFFERSON, GA. — Berkadia has arranged a $45 million loan for the acquisition of Prose Concord, a 300-unit apartment community in Jefferson, roughly 60 miles northeast of Atlanta. Located at 575 Concord Road, the community comprises one- and two-bedroom units ranging in size from 836 to 1,188 square feet. Amenities at the property include a swimming pool, clubroom with a catering kitchen, entertainment lounge, business center with coworking spaces, landscaped courtyards, concierge package locker system, fitness center and pet park. \ Scott Wadler, Matt Nihan and Mitch Sinberg arranged the Freddie Mac financing on behalf of the buyer, an affiliate of Coral Gables, Fla.-based Beacon Real Estate Group. The loan carries a 10-year term with a fixed-rate and five years of interest-only payments. The seller was not disclosed.

April 10, 2023

Acquisitions Georgia Industrial Southeast

EverWest Sells Industrial Portfolio in Metro Atlanta for $50M

by Jeff Shaw April 10, 2023

ATLANTA — EverWest Real Estate Investors has sold a five-building industrial portfolio in metro Atlanta for $50 million. Taurus Investment Holdings purchased the properties, which total 581,750 square feet. The portfolio is fully leased to tenants including Steelcase Inc., Bonded Services and Heritage Crystal Clean. Matt Wirth of JLL represented EverWest in the transaction.

April 10, 2023

Development Georgia Mixed-Use Southeast

GID Tops Out Phase I of $2B High Street Mixed-Use Development in Atlanta

by John Nelson April 6, 2023

ATLANTA — GID Development has topped out Phase I of High Street, a $2 billion mixed-use development underway in Atlanta’s Central Perimeter submarket. The developer, along with general contractor Brasfield & Gorrie, held a topping out ceremony as all nine buildings that comprise Phase I have reached their maximum height. The project’s first phase, which is expected to deliver next year, will feature 150,000 square feet of shops, restaurants and entertainment venues; 90,000 square feet of new loft offices; 598 apartments; and multiple community gathering spaces, including a signature park. High Street is designed around an internal street grid that will create connectivity with the Dunwoody MARTA station. Announced tenants at Phase I include Puttshack, The Hampton Social, Agave Bandido and Cuddlefish. GID and JLL’s 10twelve division expect to announce more brands joining High Street soon.

April 6, 2023

Acquisitions Georgia Retail Southeast

SRS Brokers $4.3M Sale of New Retail Strip Center in Johns Creek, Georgia

by John Nelson April 6, 2023

JOHNS CREEK, GA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of Shops at Medlock Corners, a 6,200-square-foot retail strip center located at 5855 State Bridge Road in Johns Creek. The seller, Atlanta-based Willow Capital Partners, delivered the property in March. Situated on less than an acre, the metro Atlanta property was fully leased at the time of sale to Jersey Mike’s, Ideal Dental and ATI Physical Therapy, all of which signed 10-year leases. Michael Berk, Sheree Strome and Scott Campbell of SRS represented the seller in the transaction. The buyer was an unnamed private investment firm based in Atlanta.

April 6, 2023

Newer Posts

Older Posts