Georgia

BREMEN, GA. — Southwire plans to open a new 1.2 million-square-foot distribution center in Bremen, located 45 miles west of Atlanta via I-20. The new center will combine operations with three existing distribution sites in Villa Rica, Ga., serving as a centralized distribution center for customers across the organization. Upon completion, the center will rank as one of Southwire’s largest facilities for its distribution and shipping operations in the West Georgia region. The facility is scheduled to be completed by the third quarter of 2026. Southwire opened its most recent distribution center in the Dallas-Fort Worth area in August 2024.

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BRASELTON, GA. AND MEMPHIS, TENN. — CBRE has arranged the sale of a two-property industrial portfolio in Braselton and Memphis totaling more than 1.6 million square feet. The facilities include a 613,440-square-foot cross-dock warehouse in Braselton, a city on the northeast outskirts of the metro Atlanta area, and a 1 million-square-foot cross-dock warehouse in Memphis. The Braselton facility was built in 2016 and is fully leased to a large e-commerce company, and the Memphis property was built in 2021 and is fully occupied by Medtronic. Frank Fallon, Trey Barry, José Lobon, Royce Rose, George Fallon, Ryan Bain, Zach Graham and Bentley Smith of CBRE represented the seller, JW Mitchell Co., in the transaction. The buyer and sales price were not disclosed. Additionally, Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE’s debt and structured finance team in Atlanta arranged a $69.9 million acquisition loan through Wells Fargo on behalf of the buyer.

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ATLANTA — Several key performance indicators are trending positively for the extended-stay hotel sector, according to research from Atlanta-based The Highland Group. Extended-stay hotels are lodging properties that have flexible rental options for guests, many of whom choose to rent for weeks or months at a time. In the fourth quarter of 2024, revenue per available room (RevPAR) and room revenue for the extended-stay sector increased by 3 percent and 6.1 percent year-over-year, respectively. Additionally, total occupancy in the fourth quarter hovered at 72.7 percent, which is the highest fourth-quarter occupancy rate in the past three years and a full 12 percentage points above the overall U.S. hotel sector. “Extended-stay demand growth in fourth-quarter 2024 was the largest quarterly increase in three years and well ahead of the accelerating gain in supply,” says Mark Skinner, partner at The Highland Group.

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SAVANNAH, GA. — Barings and Charlotte-based Trinity Capital have broken ground on Phase II of Horizon 16 Industrial Park, a logistics park located at Jimmy Deloach Parkway and I-16 in Savannah. The second phase will span six buildings totaling 1.5 million square feet. Phase I of the park spans 1.1 million square feet across three buildings and is currently 74 percent leased to tenants including Ferguson and Harbor Freight. The design-build team for Phase II includes general contractor Evans and architectural firm Atlas. The co-developers have tapped William Lattimore of CBRE to lease the second phase of Horizon 16. Barings and Trinity Capital previously partnered to develop 85 Exchange, a 1.3 million-square-foot industrial park near Charlotte that is leased to tenants including Amazon.

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ATLANTA — Workspace Property Trust has signed Hyundai Capital America to a 45,000-square-foot office lease at 4100 Wildwood Parkway, a 100,000-square-foot office building located within the Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. Hyundai Capital America, the finance and loan partner of Hyundai, Kia and Genesis car brands, previously operated a call center out of this location. 4100 Wildwood Parkway features offices, onsite conference facilities, kitchens and recreational areas. Kirk Anders of Anders Commercial Properties and Bob Gibbons of REATA Commercial Realty represented the tenant in the lease negotiations. Wes Rudes represented Workspace on an internal basis.

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SAVANNAH, GA. — The Home Depot has acquired its own 1.4 million-square-foot The Home Depot Distribution Center (DC) from the Savannah Economic Development Authority (SEDA). The facility is situated near the Port of Savannah. The sales price was not disclosed. SEDA has leased the center to The Home Depot since 1995. The acquisition includes 100 acres of adjacent land. The Home Depot DC supports hundreds of The Home Depot stores and typically employs around 250 associates. “This sale signals a significant, long-term commitment by The Home Depot to our region and the Georgia Ports Authority,” says Trip Tollison, president and CEO of SEDA. “We are honored that they continue to have great confidence in the Savannah region.”

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ATLANTA — PGIM Real Estate has provided an $82.3 million, floating-rate loan for the refinancing of Mira at Midtown Union, a 355-unit multifamily property located in Midtown Atlanta. The borrower, a joint venture between MetLife Investment Management and StreetLights Residential, will use the loan proceeds to refinance existing debt and secure tenants for the available retail space. Tom Goodsite of PGIM Real Estate led financing efforts for the transaction. Delivered in 2022, the 26-story tower offers a unit mix of studios, one-, two- and three-bedroom floorplans that range from 496 square feet to 1,743 square feet in size. Amenities include a resort-style pool, resident lounge, sunset deck with fire pits and grills, pet spa and dog wash station, coworking spaces and a multi-room fitness center.

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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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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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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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