Georgia

Rooker Begins Construction on 797-Acre Industrial Park Near Port of Savannah

by John Nelson July 20, 2022

BLACK CREEK, GA. — Rooker, an Atlanta-based industrial developer and construction management firm, has broken ground on Seaport 16 Trade Center, a 797-acre industrial campus situated about 25 miles from the Port of Savannah in Black Creek. The multi-phased project has the capacity for 7.1 million square feet of logistics space across 10 facilities at full buildout. Rooker has begun construction on Building 1, an 868,160-square-foot speculative building that is expandable to 1.6 million square feet and is scheduled for completion in 2023. Solution Property Group is Rooker’s marketing partner for the project and represented the developer in its land acquisition in 2021. Thomas & Hutton is the civil engineer for Seaport 16, and POH Architects will provide architectural design. Morgan Corp. is the site work contractor. The development will be located at the intersection of Olive Branch Road and Ga. Highway 80, a little over three miles from I-16. The campus will also be situated about five miles from Hyundai’s new electric vehicle assembly and battery factory, which is expected to come on line in 2025.

July 20, 2022

Acquisitions Georgia Multifamily Southeast

Hudson Capital Properties Sells Hudson Ridge Apartments in Atlanta for $143.5M

by John Nelson July 20, 2022

ATLANTA — Hudson Capital Properties (HCP) has sold Hudson Ridge Apartments, a 434-unit multifamily community located at 3505 Windy Ridge Lane in Atlanta’s Cumberland-Galleria submarket. An affiliate of New York-based L+M Fund Management purchased the community for $143.5 million. Kevin Geiger of CBRE represented HCP, which purchased the property in 2016 and executed a community-wide renovation, in the transaction. Built in 1998, Hudson Ridge features one-, two- and three-bedroom apartments, some of which feature detached garages and offer views of the nearby Truist Park, the home ballpark of the Atlanta Braves. Amenities at Hudson Ridge include a clubhouse with a lounge, resort-style pool and sundeck, tennis court, business center and a fitness center.

July 20, 2022

Acquisitions Georgia Office Southeast Top Stories

KKR Acquires Atlantic Yards Office Property Leased to Microsoft in Atlanta

by Kristin Harlow July 20, 2022

ATLANTA — KKR has acquired Atlantic Yards, a two-building office property located in Midtown Atlanta that is fully leased to Microsoft Corp. A joint venture between Hines and Invesco Real Estate sold the asset for an undisclosed price. Atlantic Yards spans 523,511 square feet across two Class A office buildings. The property, built in 2021, is located within Atlantic Station, a 12.5 million-square-foot mixed-use development. The Atlantic Station site was once the home of the Atlantic Steel Mill and rail yards. Designed for LEED Gold certification, Atlantic Yards features a number of outdoor areas, fitness facilities, bike storage and 861 parking spaces. Microsoft committed to Atlantic Yards in spring 2020 and its lease goes through 2035. The company expects to house roughly 1,500 to 2,000 employees at the facility. The Atlantic Yards office focuses on artificial intelligence and cloud-based services, and includes space for engaging directly with customers. “Atlanta is one of the fastest-growing technology hubs in the Sunbelt, thanks to its great academic institutions, diverse talent and long history of serving as home to leading Fortune 500 companies,” says Roger Morales, partner and head of real estate acquisitions in the Americas for KKR. “As one of the highest-quality properties …

July 20, 2022

Georgia Loans Multifamily Southeast

CBRE Arranges $60M Refinancing for Two Multifamily Communities in Metro Atlanta

by John Nelson July 19, 2022

COLLEGE PARK AND LITHONIA, GA. — CBRE has arranged $60 million across two cash-out loans for the refinancing of two metro Atlanta apartment communities: the 404-unit Embarcadero Club in College Park and the 256-unit Walden Brook in Lithonia. Paul Ahmed and Mackenzie Lampman of CBRE arranged the 10-year, fixed-rate loans on behalf of the borrower, Ventron Realty, which has owned the two communities since 2006. The direct lender was not disclosed. Built in 1974, Embarcadero Club has units averaging 855 square feet in size and amenities including a pool, fitness center, business center, clubhouse with a conference room, dog park and a playground. Built in 2003, Walden Brook’s units average 1,114 square feet in size and amenities include picnic areas and grills, a pool, fitness center, business center, playground and walking trails.

July 19, 2022

Acquisitions Georgia Industrial Office Southeast

Avison Young Brokers $45M Sale of Office, Flex Campus in Metro Atlanta

by John Nelson July 19, 2022

DULUTH, GA. — Avison Young has brokered the $45 million sale of Chattahoochee Corners at River Green, an office/flex campus in the Atlanta suburb of Duluth. Built in 1997, the property spans 388,213 square feet across nine single-story buildings. Pennsylvania-based Somerset Properties purchased Chattahoochee Corners from Miami-based B Group Co. Capital Management. Casey Keitchen of Avison Young’s Atlanta office brokered the transaction. Situated off Peachtree Industrial Boulevard, the property features floor-to-glass windows across all nine buildings, as well as a fitness center. Somerset plans to invest in capital improvements at Chattahoochee Corners, including boosting the curb appeal and enhancing onsite amenities.

July 19, 2022

Acquisitions Georgia Multifamily Southeast

Berkadia Arranges $16.8M Sale of Terraces at Summerville Apartments in Augusta

by John Nelson July 15, 2022

AUGUSTA, GA. — Berkadia has arranged the $16.8 million sale of Terraces at Summerville, a 120-unit apartment community located at 817 Hickman Road in Augusta. Mark Boyce and Blake Coffey of Berkadia’s Charleston office represented the seller, Nebraska-based Burlington Capital Group, in the transaction. The buyer was Tennessee-based JBT Holdings. Built in 1972, Terraces at Summerville was 95 percent occupied at the time of sale. According to Apartments.com, the property features a pool, fitness center, laundry facilities, tennis court, clubhouse and picnic area.

July 15, 2022

Acquisitions Georgia Multifamily Southeast

Westside Capital Buys Lofts at Twenty25 Apartments in Atlanta for $136M

by John Nelson July 14, 2022

ATLANTA — Miami-based Westside Capital Group has purchased The Lofts at Twenty25, a 16-story high-rise apartment tower located at 2025 Peachtree Road in Atlanta. The unnamed developer sold the 623-unit property, which was originally built in 1951 and completely redeveloped in 2021, for $136 million. Situated between Atlanta’s Buckhead and Midtown districts, Lofts at Twenty25 features one-bedroom apartments ranging from 430 square feet to 600 square feet. Unit interiors feature eight- to 10-foot ceilings, wood-style plank flooring, quartz countertops and stainless steel appliances, walk-in closets and barn-style doors. Amenities include a 5,000-square-foot fitness center, swimming pool, movie theater, convenience store and coffee shop, dog park and dog wash, swimming pool, billiards and game room, office and conference rooms, bike storage, putting green, laundry facility and dry cleaning service, EV charging stations and 405 parking spaces.

July 14, 2022

Development Georgia Industrial Leasing Activity Mixed-Use Southeast

Jamestown Signs Defense Tech Firm to 180,000 SF Industrial Lease in Atlanta

by John Nelson July 14, 2022

ATLANTA — Jamestown has signed Anduril Industries, a defense tech firm, to an 180,000-square-foot industrial lease at Allied Studios, a three-building mixed-use campus located at 1435 Hills Place in Atlanta’s Upper Westside district. Anduril will invest $60 million and bring 180 jobs to the new manufacturing and research facility. The facility will house Area-1, a subsidiary of Anduril that manufacturers unmanned aircraft systems. When complete, Area-1 will operate offices, research and development space and production space across two buildings at Allied Studios. Capital Real Estate Group represented Jamestown in the lease transaction, and Hughes Marino represented Anduril.

July 14, 2022

Development Georgia Mixed-Use Office Southeast

Selig Opens 70,000 SF Adaptive Reuse Office Building at The Works in Atlanta

by John Nelson July 13, 2022

ATLANTA — Selig Enterprises has opened 500 Chattahoochee Row, an adaptive reuse office building situated within The Works in Atlanta’s Upper Westside neighborhood. Located along Chattahoochee Avenue near Topgolf and several breweries, the 70,000-square-foot property is the redevelopment of an existing warehouse that dates back to the 1950s. The office building is one of two with The Works, an 80-acre mixed-use development. Atlanta-based Selig recently secured leases with Bread N Butter Content Studio, a locally based multimedia company known for operating the “Atlanta Eats” video series and website, and MacDermid Graphic Solutions, a flexographic and printing company that is relocating from the Buckhead district nearby. Bread N Butter will occupy 6,160 square feet, and MacDermid Graphic Solutions will occupy 45,000 square feet. Other uses at The Works include a 31-stall food hall, Scofflaw Brewing taproom, creative offices, restaurants, shops, a fitness center and a one-acre park for children to play and for live music and shows.

July 13, 2022

Acquisitions Georgia Hospitality Southeast

Peachtree Hotel Group Acquires 176-Room Canopy Atlanta Midtown Hotel

by John Nelson July 13, 2022

ATLANTA — Peachtree Hotel Group has purchased the Canopy Atlanta Midtown, a 176-room hotel that opened in December 2018. A joint venture between Greystar, Concord Hospitality and Whitman Pearson sold the hotel to Peachtree Hotel Group for an undisclosed price. Lou Plasencia, Robert Wiemer, Nick Plasencia and Chris Plasencia of The Plasencia Group represented the seller in the transaction. The hotel opened at the same time as the adjacent Ascent Midtown Apartments, which was also developed by Greystar. Canopy Atlanta Midtown features an onsite restaurant, fitness center, business center and meeting rooms.

July 13, 2022

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