Georgia

LPC Southeast Breaks Ground on 404,000 SF Industrial Facility in Calhoun, Georgia

by John Nelson September 29, 2022

CALHOUN, GA. — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Calhoun 75 Commerce Center, a 404,000-square-foot distribution center located near I-75 on Belwood Road in Calhoun, about 68 miles northwest of Atlanta. Set to deliver in fall 2023, the front-load facility will feature 36-foot clear heights, 67 dock-high doors, 74 trailer parking spaces and 278 auto parking spaces. The property will also offer tenant amenities including an outdoor grill and lounge area, as well as an additional 1.2 acres of land available for excess parking. Denton Shamburger, Turner Fortin and Colin Beecham of LPC Southeast will oversee the construction, marketing and leasing of the building.

September 29, 2022

Development Georgia Hospitality Mixed-Use Multifamily Office Southeast

MetLife, Granite Complete Midtown Union Mixed-Use Development in Atlanta

by John Nelson September 28, 2022

ATLANTA — MetLife Investment Management and Granite Properties have delivered Midtown Union, a mixed-use development located at 1331 Spring St. in Midtown Atlanta. The project comprises three buildings: a 26-story office tower, the 26-story Mira at Midtown Union apartment high-rise and the 14-story Kimpton Shane Hotel. The office and multifamily towers opened in July, and the hotel just opened on Sept. 21. The office tower spans 612,000 square feet and will be anchored by Invesco, which plans to occupy 300,000 square feet beginning in early 2023. The Mira comprises 355 studio, one-, two- and three-bedroom apartments, as well as upscale amenities. Kimpton Hotels & Restaurants will operate the hotel, which features 230 rooms, meeting and event space, the Hartley Kitchen and Cocktails restaurant and the Aveline cocktail lounge. MetLife partnered with StreetLights Residential on the apartment tower and AMS Hospitality on the Kimpton Shane Hotel. The design-build team for the overall Midtown Union campus includes architect Cooper Carry and general contractor Brasfield & Gorrie, as well as Studio 11 Design for the hotel design. Brooke Dewey and Adam Viente (office) and Coleman Morris (retail) of JLL are leading leasing efforts at Midtown Union.

September 28, 2022

Development Georgia Industrial Southeast

Seefried Properties Breaks Ground on 447,753 SF Industrial Facility in Adairsville, Georgia

by John Nelson September 26, 2022

ADAIRSVILLE, GA. — Seefried Properties has broken ground on a 447,753-square-foot industrial facility in Adairsville, a city in North Georgia equidistant between Atlanta and Chattanooga. The project, dubbed Adairsville 75, is located near I-75 on a 36-acre site at 2334 Trimble Hollow Road, about 36 miles from the newly completed Appalachian Regional Port. Upon completion in June 2023, the new speculative distribution center will feature 36-foot clear heights, 50- by 53.4-foot column spacing, 94 dock doors (four drive-in), parking for 185 vehicles and an additional 71 spaces for trailers. Joseph Kriss and Tripp Ausband of Seefried, along with Austin Kriz and Tom Cromartie of JLL, will handle the marketing and leasing for the project. The design-build team includes general contractor The Conlan Co., civil engineer Eberly & Associates and architect of record Atlas Collaborative.

September 26, 2022

Affordable Housing Development Georgia Industrial Mixed-Use Multifamily Retail Southeast

Atlanta BeltLine Inc. Selects Culdesac to Develop 20-Acre Murphy Crossing Mixed-Use Project in Southwest Atlanta

by John Nelson September 23, 2022

ATLANTA — Atlanta BeltLine Inc. (ABI) has selected development firm Culdesac for the 20-acre Murphy Crossing project located at 1050 Murphy Ave. in southwest Atlanta’s Oakland City neighborhood. Culdesac, which recently delivered a “car-free” mixed-use development in Tempe, Ariz., will be working with Urban Oasis Development, Kronberg Urbanists + Architects, LDG Consulting and T. Dallas Smith and Co. on the Murphy Crossing project, which will be branded Murphy Crossing by Culdesac. Plans for the development are subject to change pending community feedback, but preliminarily the project will comprise new and existing buildings that will house market-rate and affordable housing apartments, a grocery store, retail and dining options, light industrial space, coworking spaces, arts and culture programming and a farmer’s market, honoring the site’s history as the location for the Georgia Farmers Market in the 1940s and 1950s. Murphy Crossing by Culdesac will give residents proximity to the Oakland City and West End MARTA stations. Additionally, 25 percent of the residential units will be designated permanently affordable with an additional 5 percent of units deemed affordable for at least the next 30 years. The target rent restriction for the affordable units is between 60 and 80 percent of the area median …

September 23, 2022

Acquisitions Georgia Retail Southeast

M Street, Highline Purchase Conyers Commons Shopping Center in Metro Atlanta for $17M

by John Nelson September 22, 2022

CONYERS, GA. — A joint venture between M Street Holdings and Highline Real Estate Capital has acquired Conyers Commons, a 118,916-square-foot shopping center in the Atlanta suburb of Conyers. The undisclosed seller sold the property for approximately $17 million, or $142.53 per square foot. Chris DeCoufle, Kevin Hurley and Matt Karempelis of CBRE brokered the transaction on behalf of the seller, and BankUnited provided acquisition financing for M Street and Highline. Conyers Commons represents the joint venture’s second transaction in the Atlanta market this year. Anchored by Ross Dress for Less and Bealls Outlet, Conyers Commons’ tenant roster includes pOpShelf, Smoothie King, Mattress Firm, CitiTrends, Panda Express and Kirkland’s. The property is shadow-anchored by Target and is situated adjacent to a 240-unit single-family neighborhood under construction.

September 22, 2022

Development Georgia Industrial Southeast

OA Development Breaks Ground on 1 MSF Industrial Park Near Atlanta Airport

by John Nelson September 20, 2022

ATLANTA — Locally based OA Development has broken ground on Victory Landing Logistics Center, a nearly 1 million-square-foot industrial park located adjacent to I-285 near Hartsfield-Jackson Atlanta International Airport. The developer expects to deliver the first phase, comprising five buildings totaling 700,000 square feet, next summer. Along with planned road improvements, the project represents $83 million in total investment. Roughly 30 percent of the site is designated green space and wetlands, according to OA Development. In addition to OA Development, the project team includes general contractor The Conlan Co. and Roswell, Ga.-based architectural firm Randall-Paulson Architects. Pat Murphy of Cushman & Wakefield is leasing the development.

September 20, 2022

Georgia Loans Office Southeast

Lightstone Capital Provides $27M Refinancing of Office Building in Atlanta’s Cumberland-Galleria District

by John Nelson September 20, 2022

ATLANTA — Lightstone Capital has provided a $27 million loan for the refinancing of 2000 Riveredge Parkway, a 12-story, 240,000-square-foot office building in Atlanta’s Cumberland-Galleria submarket. The Florida-based borrower, Mainstreet Capital Partners, will use the financing to refinance existing debt and fund future leasing costs. Ed Coco and Matt Casey of JLL arranged the financing on behalf of Mainstreet. Situated near the Chattahoochee Nature Center, the property was about 50 percent occupied at the time of the financing to 20 tenants, including Aetna, Atlas Roofing, VITAS Healthcare and Diamond Crystal Brands. The building has 24/7 security, a recently added fitness center with showers and lockers, conferencing facilities, a renovated deli, private balconies, attached structured deck parking and a tenant lounge. Mainstreet Capital plans to use the loan proceeds to upgrade the parking deck terrace, complete multiple spec suites, update the restrooms and make minor mechanical updates.

September 20, 2022

Development Georgia Industrial Southeast

Stream Realty, AEW to Build Two Metro Atlanta Industrial Facilities Totaling 768,000 SF

by John Nelson September 19, 2022

ADAIRSVILLE AND UNION CITY, GA. — Stream Realty Partners and AEW have partnered to develop two new speculative industrial projects in metro Atlanta totaling more than 768,000 square feet. The duo are set to develop Adairsville Logistics Center at 3048 U.S. Highway 41 in Adairsville and Union City Logistics Center at 4811 Flat Shoals Road in Union City. Justin Robinson, Virginia Crabtree, Isaac Weeks, Nick Peacher and Scott Jones of Stream Realty will provide construction management, leasing and property management services at both properties, which are set to come on line by the second quarter of 2023. Evans General Contractors will serve as the general contractor for both projects.

September 19, 2022

Development Georgia Southeast Student Housing

Mallory & Evans Breaks Ground on Phase II of Student Housing Community Near University of North Georgia

by John Nelson September 16, 2022

DAHLONEGA, GA. — Mallory & Evans Development has broken ground on Phase II of Bellamy Dahlonega, a student housing community located near the University of North Georgia. The second phase of the project will add two buildings offering 128 beds. Phase I of the project was delivered in fall 2015 and offers 426 beds. The 44 new units will feature two-, three- and four-bedroom configurations and will be fully furnished with bed-to-bath parity. Phase II will also include the development of a new fitness center and renovations to the existing clubhouse. A timeline for the project was not announced.

September 16, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

GID to Bring Hampton Social Restaurant to $2B High Street Project in Atlanta

by John Nelson September 15, 2022

ATLANTA — GID, the developer of the $2 billion High Street mixed-use project in Atlanta’s Central Perimeter district, has executed a lease with Parker Hospitality to bring a Hampton Social restaurant to the development. The coastal-inspired restaurant chain is part of the first phase of the 36-acre project and is set to open in 2024. Hampton Social will span 10,455 square feet across two levels and serve cocktails, its famed “rosé all day” menu and seasonal seafood food for lunch, dinner and weekend brunch. The Hampton Social has locations throughout the United States including Illinois, Florida and Tennessee, and High Street will be its first location in Georgia. Led by GID, High Street’s first phase is under construction and encompasses approximately 150,000 square feet of entertainment-driven retail and restaurant space, a central events plaza, 600 luxury apartments, 90,000 square feet of loft offices and 222,000 square feet of existing office space. Earlier this year, GID announced Puttshack as an entertainment anchor for High Street’s first phase. Molly Morgan is leading the retail leasing assignment for High Street, along with Allie Spangler and 10Twelve, JLL’s boutique agency leasing team.

September 15, 2022

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