Georgia

Lineage Logistics Opens $78M Industrial Facility Near Port of Savannah

by John Nelson April 27, 2023

PORT WENTWORTH, GA. — Lineage Logistics has opened Savannah Fresh-Port Wentworth, a 220,000-square-foot industrial facility near the Port of Savannah. The $78 million development supports 65 new jobs. The temperature-controlled facility has 23 inbound and outbound lanes that can process more than 40 trucks daily, moving up to 1.4 million pounds of produce per day, according to Lineage. The new facility brings the Michigan-based REIT’s total investment in Chatham County to more than $100 million and its Georgia portfolio to over 3 million square feet.

April 27, 2023

Development Georgia Multifamily Southeast

Atlas, FIDES to Break Ground on $70M Multifamily Project in Chamblee, Georgia

by John Nelson April 27, 2023

CHAMBLEE, GA. — Atlas Real Estate Partners and FIDES Development plan to break ground in early May on The Hawkins, a $70 million multifamily community in the Atlanta suburb of Chamblee. The 192-unit mid-rise community will feature a mix of one-, two- and three-bedroom floor plans, as well as 15,000 square feet of amenity and commercial space. Amenities will include a fitness center, coworking space, pet spa, dog park, community room, pool courtyard, bike room and a rooftop lounge overlooking the nearby DeKalb-Peachtree Airport.

April 27, 2023

Georgia Leasing Activity Office Southeast

Colliers Inks Two New Leases at 101 W Ponce Office Building in Decatur, Georgia

by John Nelson April 25, 2023

DECATUR, GA. — Colliers has signed two new tenants to join 101 W Ponce, a 109,000-square-foot office building in downtown Decatur. The RMR Group manages the six-story office building and recently finished renovations. The two new tenants are the National Association of Chronic Disease Directors (NACDD), which will lease 18,411 square feet, and gaming company Aristocrat Technologies, which will lease 6,404 square feet. Heather Lamb and Jessica Doyle of Colliers represented the landlord in both lease deals. Mitch Kahlert and Jimmy Sanders of ICON Commercial represented NACDD, and David Todd and Detra Reid of CBRE represented Aristocrat Technologies.

April 25, 2023

Development Georgia Multifamily Southeast

Novare, BCDC Begin Construction on 302-Unit Apartment Community in Metro Savannah

by John Nelson April 24, 2023

RICHMOND HILL, GA. — Novare Group and Batson-Cook Development Co. (BCDC) have broken ground on a 302-unit apartment community in Richmond Hill, roughly 20 miles outside of Savannah. Upon completion, the property will form the multifamily component of the 7,000-acre master-planned, mixed-use development Heartwood at Richmond Hill. Designed by Humphreys & Partners Architects, the community will feature amenities including a swimming pool with cabanas, an outdoor deck with kitchen space, a fire pit, fitness center, flexible workspace, dog park, detached parking garages and carports. Classic Plains is the general contractor, and Trustmark National Bank and Atlantic Union Bank are providing financing for the project. Delivery of the first units is scheduled for the third quarter of 2024.

April 24, 2023

Development Georgia Mixed-Use Multifamily Southeast

Portman, National Real Estate Advisors Top Out 370-Unit Residential Tower in Midtown Atlanta

by John Nelson April 24, 2023

ATLANTA — Portman and National Real Estate Advisors have topped out Sora at Spring Quarter, a 370-unit residential tower located at the corner of Spring and 10th streets in Atlanta’s Midtown neighborhood. Upon completion, the property will feature 11,000 square feet of ground-floor retail space, an infrared sauna, fitness centers, golf simulators, outdoor lawn areas, party rooms, coworking spaces, a pet run and spa, sky lounge, swimming pool and a media room. Sora is the first phase of Portman’s larger Spring Quarter mixed-use development, which will be anchored by The Patterson, an existing funeral home that will be preserved, as well as a 525,000-square-foot office tower called 1020 Spring and 40,000 square feet of retail space. The first units of Sora are scheduled for delivery this summer.

April 24, 2023

Acquisitions Georgia Retail Southeast

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

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