Georgia

Ardent Cos. Completes Five New Office Leases, 11 Renewals at Piedmont Center in Atlanta

by John Nelson October 21, 2022

ATLANTA — The Ardent Cos. has executed five new leases, 11 renewals and one expansion at Piedmont Center, a 2 million-square-foot office campus located in the Buckhead neighborhood of Atlanta. New tenants at Piedmont Center, which will absorb 35,650 square feet of space, include Emory Investment Management, Harry Norman, Maxis, Findling Law and Relatient. Chad Koenig and Katelyn Fabien of Cushman & Wakefield represented Emory Investment Management, John Winter of Cushman & Wakefield represented Harry Norman, Jill Goldberg of Goldberg O’Malley and Steve Barton of CBRE represented Maxis, and Relatient was represented by Joey Kline of JLL in the lease negotiations. Hudson Lambert Parrott Walker LLC added 4,426 square feet of space to its occupancy of Tower 15 at the campus. The lease renewals and expansion account for 42,359 square feet. JLL and Cushman & Wakefield handle leasing for Piedmont Center on behalf of Ardent Cos.

October 21, 2022

Acquisitions Georgia Office Southeast Top Stories

KDC Acquires Two Office Towers Totaling 1.6M SF in Metro Atlanta

by Jeff Shaw October 21, 2022

DUNWOODY, GA. — Dallas-based corporate development and investment firm KDC has acquired two office buildings totaling more than 1.6 million square feet in Park Center, a 17-acre master-planned, transit-oriented project in the northern Atlanta suburb of Dunwoody. Park Center Buildings 2 and 3 were acquired in a sale-leaseback deal with insurance giant State Farm, along with approximately 40,000 square feet of retail space, a parking structure with more than 4,000 parking spaces and a 2.6-acre parcel for future development. The price was not disclosed. Park Center Building 2 was completed in 2020 and comprises 621,000 square feet, including 39,000 square feet of retail space. Park Center Building 3 is a 440,000-square-foot office tower completed in 2021. KDC described the properties as “a state-of-the-arm, Class A office project.” KDC was the original developer of Park Center. The company purchased the property with its internal capitalization established with an investment by Cadillac Fairview in 2021, along with ongoing ownership and funding from KDC and Compatriot Capital. Northmarq’s Dallas debt and equity team, including Phillip Askew, Ronald Reese and Charlie Robinson, arranged financing for KDC’s acquisition through its life insurance company relationships. KDC has begun planning for future phases of Park Center. According …

October 21, 2022

Acquisitions Georgia Industrial Southeast

GCP, AEW Capital Management Purchase 2.9 MSF Industrial Portfolio in Metro Atlanta

by John Nelson October 20, 2022

MCDONOUGH AND JONESBORO, GA. — A partnership between Birmingham, Ala.-based Growth Capital Partners (GCP) and AEW Capital Management LP has purchased a 2.9 million-square-foot industrial portfolio in Atlanta’s I-75 South industrial submarket. The seller and sales price were not disclosed. The portfolio comprises three Class A facilities in McDonough and Jonesboro that house four tenants, including Whirlpool Corp. and Caterpillar. The assets include 195 King Mill Road in McDonough, 150 Greenwood in McDonough and 9250 S. Main St. in Jonesboro. GCP’s existing portfolio spans 6.7 million square feet in Sun Belt markets such as Atlanta, Nashville, Houston, San Antonio, Charlotte and Jacksonville.

October 20, 2022

Acquisitions Georgia Retail Southeast

Big V, Equity Street Capital Acquire 193,039 SF Retail Center in Brunswick, Georgia

by John Nelson October 17, 2022

BRUNSWICK, GA. — Big V Property Group, in partnership with Equity Street Capital, has acquired Glynn Isles, a 193,039-square-foot retail center located in the coastal Georgia city of Brunswick. Shadow-anchored by Target and Lowe’s Home Improvement, the center has averaged 98 percent occupancy. Tenants include Dick’s Sporting Goods, PetSmart, Ross Dress for Less, Michaels, Ulta Beauty and Old Navy. The seller and sales price were not disclosed.

October 17, 2022

Development Georgia Leasing Activity Mixed-Use Retail Southeast

Third & Urban, FCP to Add Four New Concepts to Westside Paper Project in Atlanta

by John Nelson October 17, 2022

ATLANTA — Third & Urban and FCP have announced the addition of four tenants to the 15-acre Westside Paper development located along the Atlanta BeltLine in Westside Atlanta. Currently under development and scheduled to open in early 2023, Westside Paper, which is centered around a historic 1950s paper warehouse, features 245,000 square feet of mixed-use space. King of Pops, Elsewhere Brewing, Ancestral Bottle Shop + Market and taqueria concept El Santo Gallo will join the retail lineup. Westside Paper’s retail space is now 90 percent leased, with previously announced tenants including Pancake Social, Glide Pizza, Girl Driver and Boxcar Betty’s.

October 17, 2022

Acquisitions Company News Georgia Mixed-Use Retail Southeast

Simon Agrees to Acquire 50 Percent Stake in Jamestown

by John Nelson October 11, 2022

INDIANAPOLIS AND ATLANTA — Indianapolis-based mall giant Simon has entered into an agreement whereby the REIT will purchase a 50 percent interest in Atlanta-based Jamestown, an owner of some of the most successful mixed-use developments in the country such as Ponce City Market in Atlanta and Ghirardelli Square in San Francisco. Jamestown had more than $13 billion in assets under management as of June 30, 2022, with properties spanning the United States, Latin America and Europe. Terms of the purchase agreement were not disclosed. With this partnership with Simon, Jamestown will gain a partner with a broad platform of resources and operational tools that will enhance its ability to scale and grow. “The partnership with Simon will help position us for our next chapter as we scale our differentiated products in an increasingly global world,” says Michael Phillips, president of Jamestown. With Jamestown, Simon now has an opportunity to capitalize on the growing asset and investment management businesses with an experienced fund manager and mixed-use operator and developer. Simon will also be able to access the Jamestown platform to accelerate its future densification projects. “We have been impressed with Jamestown’s combination of sector expertise, dedication to driving creative placemaking, and …

October 11, 2022

Development Georgia Office Southeast

Lincoln Property Co. Tops Out 300,000 SF Office Building at Echo Street West in Atlanta

by John Nelson October 11, 2022

ATLANTA — Lincoln Property Co. has topped out 765 Echo, a four-story, 300,000-square-foot office building set within the 19-acre Echo Street West project in Atlanta’s West Midtown district. Upon completion, the mid-rise structure will feature 29,000 square feet of tenant balconies that can host outdoor conferences, fitness space and social gatherings. The mass timber building will also feature floor plates with 15- to 20-foot windows that offer unobstructed, 360-degree views. The office building will be located adjacent to a 3,500-square-foot amenity center that will provide office tenants with flexible meeting space, an outdoor patio and a full bar. Echo Street West’s first phase that includes 765 Echo, 25,000 square feet of retail space, the 292-unit Vibe apartments, Guardian Works, Guardian Studios and the Westside Motor Lounge is on target to be complete by spring 2023. Future phases will bring additional office, retail, residential and hotel components to the site. The project team includes capital partner Bridge Investment Group; general contractors DPR Construction, Juneau Construction Co. and Merit Construction; architects RIOS, Nelson Architects and Dwell Design Studio; and retail leasing brokerages SRS Real Estate Partners and Revel. Lincoln Property Co. manages the entire project and handles office leasing.

October 11, 2022

Development Georgia Office Southeast

Barings to Convert 45,000 SF of Vacant Office Space at 3445 Peachtree in Atlanta to Speculative Suites

by John Nelson October 10, 2022

ATLANTA — Barings plans to convert approximately 45,000 square feet of vacant office space at 3445 Peachtree in Atlanta’s Buckhead district to speculative suites. Spread across five spaces within the 14-story, 287,000-square-foot office building, these suites will range in size from 3,000 square feet to a full 23,000-square-foot floor. Furniture will be provided within some of these spaces and each spec suite will include exposed ceiling duct work and floor plans that invite collaboration. New tenants will also have access to several Class A amenities available to all 3445 Peachtree tenants. No construction timeline was disclosed. According to research from CBRE, metro Atlanta currently has 500,000 square feet of spec suites under construction, which represents about 28 percent of the market’s existing inventory of spec suite space (1.8 million square feet).

October 10, 2022

Acquisitions Georgia Multifamily Southeast

Northmarq Secures Sale of Avana Druid Hills Apartments in Decatur, Georgia

by John Nelson October 10, 2022

DECATUR, GA. — Northmarq has secured the sale of Avana Druid Hills, a 228-unit apartment community located at 3471 N. Druid Hills Road in Decatur, a suburb of Atlanta. Jason Nettles, Megan Thompson and Peter Chacon of Northmarq represented both the buyer, Atlanta-based RangeWater Real Estate, and the seller, Charleston-based Greystar, in the transaction. The sales price was not disclosed. Greystar had previously invested $1.2 million for exterior upkeep at Avana Druid Hills, including new roofing, balcony repair, retaining wall replacement and an LED lighting package. Built in 1985, the pet-friendly, garden-style property features a saltwater pool, outdoor lounge with a fire pit, fitness studio, clubhouse, grill, picnic area, tennis court, business center, onsite storage, coffee bar and a car care facility.

October 10, 2022

Development Georgia Industrial Southeast

Seefried Properties to Develop 738,720 SF Industrial Facility in Calhoun, Georgia

by John Nelson October 6, 2022

CALHOUN, GA. — Seefried Properties has purchased a 56-acre site in Calhoun with plans to develop Grove 75 Logistics Center, a 738,720-square-foot industrial facility. The spec facility is expected to be completed in the third quarter of 2023. The Class A building will feature 40-foot clear heights, 167 dock-high cross-docking doors (including four drive-in doors), trailer and auto parking spaces, LED interior lighting, ESFR sprinklers and office space. Located on Union Grove Road, the site is located a half-mile from I-75 and near the newly developed Appalachian Regional Port. Project partners include general contractor The Conlan Co., civil engineer Southland Engineering and architectural firm Atlas Collaborative. Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will handle the marketing and leasing for Grove 75 Logistics Center.

October 6, 2022

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