Georgia

MARTA Signs 130,000 SF Office Lease at Uptown Atlanta’s East Tower

by John Nelson January 4, 2023

ATLANTA — The Metropolitan Atlanta Rapid Transit Authority (MARTA) has signed a 130,000-square-foot office lease at Uptown Atlanta, a 47-acre mixed-use development in Atlanta’s Lindbergh neighborhood. Rubenstein Partners is redeveloping Uptown Atlanta, which is anchored by the Lindbergh Center MARTA Station and home to MARTA’s headquarters. MARTA is moving its Capital Programs, Expansion and Innovation (CPEI) Group to the project’s East Tower. About 540 MARTA employees are relocating to occupy four floors at Uptown Atlanta from 2400 Piedmont Road. Uptown Atlanta features 100,000 square feet of street-level retail space, greenspace and art, as well as 1 million square feet of Class A office space. Rubenstein recently completed the reimagination of the 35,000-square-foot office atrium to include modern amenities and collaborative spaces. Skillshot Media, an esports provider, recently relocated its headquarters to the project and regularly activates the high-tech atrium with global esports events. Rubenstein plans to complete the redevelopment this fall.

January 4, 2023

Acquisitions Georgia Multifamily Southeast

Fogelman Acquires 204-Unit Columns at Timothy Woods Apartments in Athens, Georgia

by John Nelson December 23, 2022

ATHENS, GA. — Fogelman Properties has acquired The Columns at Timothy Woods, a 204-unit apartment community located in Athens, roughly 70 miles northeast of Atlanta. Fogelman acquired the property for an undisclosed price from ECI Group, which acquired the community in 2019 and completed improvements to the property’s interiors and amenities. Originally built in 1996, the community features units in one-, two- and three-bedroom layouts. Kevin Geiger of CBRE represented ECI in the transaction.

December 23, 2022

Development Georgia Loans Mixed-Use Multifamily Southeast

Middle Street, AECOM-Canyon Obtain $245M Construction Financing for Midtown Atlanta Multifamily Project

by John Nelson December 20, 2022

ATLANTA — A joint venture between developers Middle Street Partners and AECOM-Canyon Partners has obtained $245 million in construction financing for its two-tower multifamily project situated a block from Piedmont Park in Midtown Atlanta. Eastdil Secured arranged the financing through Bank OZK and Related Fund Management on behalf of the developers. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia advised Middle Street in the transaction. The unnamed development will occupy a full city block on Juniper Street between 11th and 12th streets. The project will include a north tower and south tower totaling 487 apartments, and each tower will feature an undisclosed amount of ground-floor retail space. The developers plan to break ground immediately. The project team includes general contractor Brasfield & Gorrie, architect Brock Hudgins and interior designer CID Design Group.

December 20, 2022

Acquisitions Georgia Retail Southeast

SRS Brokers Sale of 143,081 SF Blackwell Plaza Shopping Center in Marietta, Georgia

by Jeff Shaw December 19, 2022

MARIETTA, GA. — SRS’ Investment Properties Group has arranged the sale of Blackwell Plaza, a 143,081-square-foot shopping center in Marietta, approximately 20 miles northwest of Atlanta. An entity doing business as RCG-Marietta VII LLC acquired the property from Stebri Enterprises for $10 million. Kyle Stonis and Pierce Mayson of SRS represented Stebri in the transaction. Sitting on 17 acres at the intersection of Canton Road and Piedmont Road, the property features tenants including Old Time Pottery and America’s Thrift Store.

December 19, 2022

Acquisitions Georgia Multifamily Southeast

JLL Arranges Sale of 252-Unit Multifamily Community in Metro Atlanta

by John Nelson December 16, 2022

LAWRENCEVILLE, GA. — JLL Capital Markets has brokered the sale of The Fieldhouse, a multifamily community featuring 252 residential units and 10,112 square feet of commercial space in Lawrenceville, roughly 30 miles northeast of Atlanta. Built in 2021, the property overlooks Coolray Field, home ballpark of the Minor League Baseball team Gwinnett Stripers. The Fieldhouse comprises three buildings with units in studio, one- and two-bedroom layouts. Amenities include a rooftop lounge, pool deck, grilling stations, two dog parks, a club and game room, workspace, a kitchen and bar for entertaining, a yoga studio and a fitness center. John Weber, Vic Ciancetta and Cade Songy of JLL represented the seller, Brand Properties, in the transaction. Bonaventure Realty Group was the buyer. The sales price was not disclosed.

December 16, 2022

Acquisitions Georgia Retail Southeast

Franklin Street Brokers $13M Sale of Shopping Center in Kennesaw, Georgia

by John Nelson December 14, 2022

KENNESAW, GA. — Franklin Street has brokered the $13 million sale of Town Center Commons, a 72,168-square-foot shopping center located at 725 Ernest W. Barrett Parkway in Kennesaw, a northwest suburb of Atlanta. Nashville-based 615 Ventures purchased the retail center from Ardent Cos. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. Town Center Commons is anchored by Public Lands, the first Southeast location of a new outdoors and sporting goods retail concept from Dick’s Sporting Goods. Other tenants include Five Below, which recently renewed its lease, as well as The Original Mattress Factory, Affordable Dentures & Implants, Town Center Nails, K-Town Vapor Lounge, Automation Personnel Services and Pinch of Spice. The center, which is shadow-anchored by Dick’s Sporting Goods and Costco, was 96 percent leased at the time of sale.

December 14, 2022

Development Georgia Multifamily Southeast

Jamestown to Begin Leasing Active Adult Community Signal House in Atlanta in Early 2023

by John Nelson December 13, 2022

ATLANTA — Jamestown plans to begin leasing units at Signal House, a 21-story active adult community underway at Ponce City Market in Atlanta’s Old Fourth Ward, in first-quarter 2023. The Atlanta-based mixed-use owner and developer expects the apartments to be “move-in ready” by fall 2023. Located directly adjacent to the Atlanta BeltLine at North Avenue, the 162-unit Signal House will feature one-, two- and three-bedroom layouts. Residents will have access to a property app that will allow them to book a suite of services, including housekeeping, plant watering, dry cleaning, food delivery and dining reservations and massage and personal trainer appointments. Amenities will include a pool terrace with a shaded grotto lounge and outdoor shower, a multipurpose fitness room with connected outdoor fitness space, 3,300 square feet of retail space fronting the BeltLine, coworking space, wellness rooms for personal treatments, a clubhouse lounge, onsite lifestyle director and a dining room with a full commercial chef’s kitchen and connected outdoor seating. Other common spaces at Signal House will include a rooftop terrace with outdoor grilling, dining and lounging spaces, as well as community garden plots.

December 13, 2022

Development Georgia Leasing Activity Retail Southeast

Savi Provisions Opens New Grocery Store in Metro Atlanta

by John Nelson December 12, 2022

MILTON, GA. — Savi Provisions, an Atlanta-based boutique grocer, has opened a new location at Crapapple Market in Milton, roughly 30 miles north of Atlanta. Located at 12630 Crabapple Road, the store opened on Saturday, Dec. 10 and features the main grocery store (3,644 square feet) and a liquor market (983 square feet). Founded in 2009, Savi offers prepared foods such as sandwiches and salads in addition to organic groceries, wine, spirits and coffee.

December 12, 2022

Development Georgia Hospitality Southeast

Ascent Breaks Ground on Two New Hotels in Metro Atlanta Totaling 196 Rooms

by John Nelson December 9, 2022

SOUTH FULTON, GA. — Ascent Hospitality Management LLC has broken ground on two new hotels in South Fulton, approximately 20 miles southwest of Atlanta. Home2 Suites by Hilton will comprise 100 suites in studio and one-bedroom layouts and feature health and wellness amenities as well as work and meeting spaces. The second property, TownPlace Suites by Marriott, will feature 96 rooms furnished with full kitchens. Amenities will include a convenience store open 24 hours, a fitness center, swimming pool and an outdoor patio. The City of South Fulton estimates the new properties will drive $2 million of annual economic impact.

December 9, 2022

Georgia Leasing Activity Office Southeast

FanDuel Opens 68,000 SF Office at Ponce City Market in Atlanta

by John Nelson December 8, 2022

ATLANTA — FanDuel, a sports-tech entertainment firm known for its fantasy sports leagues, has opened its new offices at Ponce City Market, a mixed-use development in Atlanta’s Old Fourth Ward district. The company’s 68,000-square-foot space occupies the third floor and houses its software engineering, product development, user experience and user interface teams. The new office space features a mock sportsbook that tests FanDuel’s latest retail products; desk pods that support focused sprints and quick collaborations; and virtual scrum areas that allow digital whiteboarding concurrently across office locations. The heart of the office, the café and gaming zone, features a 12-foot video wall and a rotating selection of beer taps with beers made in Georgia that are selected by employees. FanDuel plans to grow its Atlanta-based workforce to approximately 900 colleagues over the next five years across 22 types of work settings. The company signed the lease last summer with Jamestown, the Atlanta-based owner of Ponce City Market.

December 8, 2022

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