Tuesday, July 8, 2025
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GeorgiaLeasing ActivityMixed-UseOfficeRetailSoutheast

Stream Realty Negotiates Five Leases Totaling 93,000 SF at The Interlock in West Midtown Atlanta

by John Nelson

ATLANTA — Stream Realty Partners has added five leases at The Interlock, a 672,688-square foot mixed-use development located at 1115 Howell Mill Road NW in Atlanta’s West Midtown district. Kevin Driver and Malik Leaphart of Stream Realty arranged the leases, while colleague Michaela Roberts managed the firm’s initiatives to reposition and deliver customized office suites. The Gathering Spot, a private, members-only modern city club, leased 21,000 square feet of office space, as well as an additional 40,000 square feet of rooftop space. Directional Capital, a Los Angeles-based private equity firm and one of the largest national Rent-A-Center franchise owners, leased 10,500 square feet to establish its new headquarters. Creative firm agency Look Listen secured an 8,500-square-foot lease with drive-up access and direct connectivity to the Bellyard Hotel. Workers’ compensation defense law firm Levy, Sibley, Foreman & Speir LLC (LSFS) signed a 5,000-square-foot lease while Alloy Marketing signed a 10,000-square-foot lease, with both firms occupying newly built office suites on the sixth floor. Mike Davis and Nathan Williams of Scotland Wright Associates represented The Gathering Spot, Directional Capital, Look Listen and LSFS, while Dan Granot of Savills represented Alloy Marketing in the lease negotiations.

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AcquisitionsGeorgiaRetailSoutheast

TSCG Brokers Sale of 25,300 SF Douglasville Day Centre in Metro Atlanta

by John Nelson

DOUGLASVILLE, GA. — TSCG has brokered the sale of Douglasville Day Centre, a 25,300-square-foot shopping center located in the Atlanta suburb of Douglasville. The sales price was undisclosed. Situated at the intersection of Chapel Hill and Timber Ridge roads, the center was originally built in 2005. The property was fully leased at the time of sale to tenants including Starbucks Coffee, Verizon Wireless, Orangetheory Fitness, Tropical Smoothie Café and Shane’s Rib Shack. Douglasville Day Centre also features four separate outparcels — McDonald’s, Panda Express, Texas Roadhouse and Carrabba’s Italian Grill — that were not included in the sale. Anthony Blanco, Mallory Silva and Serge Du Lau D’Allemans of TSCG represented the seller, a private partnership, in the transaction. A joint venture managed by Crow Holdings Capital was the buyer.

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DevelopmentGeorgiaLeasing ActivityMixed-UseOfficeSoutheast

Boehringer Ingelheim Relocates Animal Health Headquarters to Medley in Johns Creek, Georgia

by John Nelson

JOHNS CREEK, GA. — Boehringer Ingelheim, a biopharmaceutical firm that manufactures medicine for humans and animals, has relocated to a 73,000-square-foot lifestyle office space at Medley, a 43-acre mixed-use development underway in the north Atlanta suburb of Johns Creek. Toro Development Co. (TDC) is the developer and owner of Medley, which will become the new U.S. Animal Health headquarters for Boehringer Ingelheim and its 500 employees in summer 2026, ahead of Medley’s opening in October 2026. Boehringer Ingelheim will occupy two full floors of a reimagined office building that totals 150,000 square feet. This deal marks the largest Class A office lease north of the Atlanta Perimeter in roughly five years, according to TDC. Bryan Heller and Parker Welton of Stream Realty Partners represented TDC in the lease negotiations.

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AcquisitionsCompany NewsGeorgiaRestaurantRetailSoutheast

Hooters Files for Bankruptcy, Plans to Sell All Company-Owned Restaurants to Franchisees

by John Nelson

ATLANTA — HOA Restaurant Group, parent company of restaurant chain Hooters, has filed for Chapter 11 bankruptcy protection, entering into a Restructuring Support Agreement (RSA) that will facilitate the continued operation of the company’s restaurants under new ownership. Hooters restaurants will continue to operate as usual throughout the bankruptcy process. A partnership between two existing Hooters franchisees, Hooters Inc. and Hoot Owl Restaurants, reached an agreement with Hooters of America (HOA) to acquire more than 100 HOA-owned Hooters restaurants, which, when added with the franchisees’ existing holdings, will account for approximately 70 percent of Hooters’ domestic locations. Upon completion of the Chapter 11 process, all Hooters locations will be franchisee-owned. Hooters Brand Management (HBM) will provide most of the franchise support for the company, including oversight of the national ad fund, the central purchasing organization and franchise development and support. North Point Mergers & Acquisitions represented the buying group, Hooters Inc. and Hoot Owl Restaurants, while Morrison & Foerster LLP is serving as their legal counsel.

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DevelopmentGeorgiaOfficeSoutheast

Shorenstein Begins Renovations at 14th & Spring Office Building in Midtown Atlanta

by John Nelson

ATLANTA — Shorenstein Investment Advisors has begun capital improvements at 14th & Spring, a 12-story, 324,000-square-foot office building located at 1150 Spring St. NW in Midtown Atlanta. The renovations include a complete repositioning of the lobby and expanded first-floor amenities, including an onsite café and bar, fitness center, conference center and the connected outdoor terrace. The overhaul will also include the build-out of a full floor of speculative office suites on the third floor totaling 28,500 square feet. Locally based law firm Cushing, Morris, Armbruster, & Montgomery LLP has preleased one of the new spec suites, with plans to relocate from its current downtown office this summer. Additionally, Shorenstein has partnered with George Banks for a new eatery at 14th & Spring. Shorenstein has owned the office building since July 2024 and has since executed 100,000 square feet of leases, including HTNB Corp.’s three-floor lease last fall. The office building was delivered in 2022. ASD | SKY is serving as the design architect for the lobby repositioning and first-floor amenity package, while Murphy Meyers is the design architect for the spec suites. Jeff Keppen, Kyle Kenyon and Nicole Goldsmith of CBRE are the exclusive leasing agents for the property.

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AcquisitionsDevelopmentGeorgiaHospitalitySoutheast

Ackerman/Pioneer Land Arranges Land Sale in LaGrange, Georgia for Future Hotel

by John Nelson

LAGRANGE, GA. — Ackerman/Pioneer Land Advisory Group has arranged the $1.5 million sale of a two-acre site within Selig Enterprises’ Sola mixed-use development in LaGrange. The buyer, Noble Investment Group, plans to develop a 124-room, four-story StudioRes by Marriott hotel at the site. Located at 101 Timberwolf Drive, which is 69 miles southwest of Atlanta via I-85, the property will be situated near Great Wolf Lodge Water Park. John Speros, J.T. Speros and Kyle Gable of Ackerman/Pioneer Land represented Noble Investment in the land acquisition.

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DevelopmentGeorgiaLeasing ActivityRestaurantRetailSoutheast

Halpern Enterprises Delivers Retail Strip Center in McDonough, Georgia

by John Nelson

MCDONOUGH, GA. — Halpern Enterprises has completed a 6,486-square-foot, multi-tenant retail strip center located at 5905 E. Lake Parkway in McDonough, a southern suburb of Atlanta. The three-tenant property is part of the 20-acre North McDonough Village mixed-use development. The property features a 2,486-square-foot Starbucks Coffee with a drive-thru, a 2,000-square-foot available space and a 2,000-square-foot dentist’s office. Starbucks recently opened for business at the center on a 10-year lease. Brad Oppenheimer led the project on behalf of Halpern and secured the lease with Starbucks. Palmer Bayless of Emerge Real Estate Services represented Starbucks in the lease negotiations.

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AcquisitionsGeorgiaOfficeSoutheast

Atlanta Braves Holdings Acquires 763,465 SF Pennant Park Office Complex Adjacent to Truist Park

by John Nelson

ATLANTA — Atlanta Braves Holdings Inc., owner and operator of the Atlanta Braves MLB team, The Battery Atlanta mixed-use development and Truist Park in Cobb County, has purchased an adjacent 763,465-square-foot office complex. The property, called Pennant Park, is situated on approximately 34 acres and comprises six office buildings and more than 2,700 parking spaces. The seller, Rubenstein Partners, has owned Pennant Park since 2017, the year that the Braves began playing at nearby Truist Park (formerly SunTrust Park). The sales price was not disclosed. The campus was more than 80 percent leased at the time of sale to 24 tenants, including The Home Depot, Juneau Construction Co. and TK Elevator. The acquisition expands the Atlanta Braves Holdings’ real estate portfolio by 30 percent. Pennant Park comprises two components: Pennant Commons (four buildings and a communal plaza known as The Quad) and Pennant View (two buildings). Amenities at the office park include 24-hour security, onsite engineering, a 48-person conference center, two fitness centers, onsite car detailing services, two cafés, Social Kitchen tenant lounge and cafe, a bocce ball court, putting green, multi-sport game court, helipad, lake with jogging trail and a Cobb Community Transit System bus stop.

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GeorgiaIndustrialLeasing ActivitySoutheast

Lee & Associates Arranges 88,300 SF Industrial Lease in Douglasville, Georgia

by John Nelson

DOUGLASVILLE, GA. — Lee & Associates has arranged an 88,300-square-foot industrial lease at 9850 Commerce Way in Douglasville, roughly 22 miles west of Atlanta. Joseph Mullican and Lee Steed of Lee & Associates’ Atlanta office represented the tenant, Peco Fasteners, a distributor of industrial fasteners and electrical products, in the lease negotiations. The landlord was Ridgeland, Miss.-based EastGroup Properties and the deal totaled $10.7 million, according to Lee & Associates.

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Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Joint Venture to Develop 250-Unit Build-to-Rent Community in Port Wentworth, Georgia

by John Nelson

PORT WENTWORTH, GA. — A joint venture between PCCP LLC and Advenir Azora has secured a 28-acre site in Port Wentworth for the ground-up development of a 250-unit build-to-rent (BTR) residential community. Located at 1100 Meinhard Road, the site is less than 10 miles from the Port of Savannah. The community will feature one- and two-bedroom duplexes, two-bedroom cottages and two- and three-bedroom townhomes with an average size of 1,081 square feet. Amenities at the complex will include a 3,000-square-foot clubhouse and leasing center with a conference room, coffee bar and an Olympic-style pool with gazebos and lounge chairs, as well as a 1,460-square-foot fitness center with a turfed exterior. Additionally, there will be shared green spaces that will comprise pocket parks and playgrounds, a pickleball court and walking trails. The first homes are expected to be delivered in June 2026. This project marks PCCP and Advenir Azora’s second joint venture, following the ground-up development of Leo at Wendell in Raleigh, which is slated for completion in December.

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