Georgia

Selig, GID to Open 306-Unit Westbound at The Works Apartment Community in Atlanta

by John Nelson July 14, 2023

ATLANTA — Selig Enterprises and joint venture partner GID will open Westbound at The Works, a 306-unit apartment community located within The Works mixed-use development, this October. Located in Atlanta’s Upper Westside neighborhood, the five-story property features residences ranging in size from 731 to 1,353 square feet in one- and two-bedroom layouts, with a 547-space parking garage. Amenities include an open-air TV lounge, fitness center, club room, sports bar, coworking center, communal kitchens and a pool courtyard. RJTR is the project architect, and Brasfield & Gorrie is the general contractor. Wells Fargo provided financing for the development. RangeWater will manage and lease the property, with monthly rates beginning at $1,840, according to the community’s website. Developed in phases by Selig, The Works also features retail and entertainment space, including a food hall, as well as 125,000 square feet of adaptive reuse office space.

July 14, 2023

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

Ivey, BCDC to Develop 262-Unit Build-to-Rent Community in Augusta, Georgia

by John Nelson July 14, 2023

AUGUSTA, GA. —Ivey Group and Batson-Cook Development Co. (BCDC) have formed a joint venture partnership for the development of West Park Townhomes, a 262-unit build-to-rent residential community in Augusta. Situated on 29 acres at Wheeler Road, the project is scheduled for delivery beginning in the first quarter of 2024. Amenities at the community will include a clubhouse, swimming pool, fitness room and a pet park. SRP Federal Credit Union will provide construction financing, with Parse Capital as a preferred equity investor. Ivey South Construction will serve as general contractor, and Patterson Real Estate Advisory Group represented the joint venture as the capital placement broker.

July 14, 2023

Development Georgia Industrial Leasing Activity Southeast

CIP Real Estate Signs Hyundai, Walgreens to Industrial Leases in Norcross, Georgia

by John Nelson July 13, 2023

NORCROSS, GA. — CIP Real Estate has signed Hyundai and Walgreens to leases at Gwinnett Commons, a 1.3 million-square-foot industrial park in the Atlanta suburb of Norcross. A division of Hyundai preleased a newly delivered, 88,500-square-foot distribution facility at 1760 Corporate Drive. The property features 28-foot clear heights and dock- and grade-level loading with oversize doors. Walgreens preleased an 89,500-square-foot facility at 1700 Corporate Drive that CIP plans to deliver in October. The automated warehouse will feature above-standard office finishes and 32-foot clear heights. CIP built both facilities on a speculative basis before preleasing to Hyundai and Walgreens. The properties represent $25 million in total construction costs. The design-build team includes general contractor Ordner Construction and architect Randall Paulson Architects. Pinnacle Bank provided construction financing.

July 13, 2023

Acquisitions Georgia Self-Storage Southeast

Spartan Investment Group Acquires 515-Unit Self-Storage Facility in Macon, Georgia

by John Nelson July 10, 2023

MACON, GA. — Colorado-based Spartan Investment Group has purchased Max Storage, a 515-unit self-storage facility located at 1955 Dove St. in Macon. The seller and sales price were not disclosed. The buyer plans to rebrand the property to FreeUp Storage Macon Dove Street. The 10-building asset totals 66,705 rentable square feet, about a third of which is climate-controlled. The facility also features a 13,800-square-foot warehouse that Spartan plans to lease. The Macon facility is the 15th FreeUp property in Georgia and fourth in Macon.

July 10, 2023

Affordable Housing Development Georgia Multifamily Southeast

Novare Group Opens 286-Unit Multifamily Community in Atlanta

by John Nelson July 7, 2023

ATLANTA — Novare Group, in collaboration with BCDC and ELV Associates, has opened Populus Westside, a multifamily community located in the Upper Westside neighborhood of Atlanta. Situated at 1315 Northwest Drive, the property features 286 units and amenities including outdoor grills, a pet park, clubhouse, fitness center and a swimming pool. An initiative by Invest Atlanta, the City of Atlanta’s economic development arm, as part of a property tax incentive program will make 15 percent of the residences available at reduced rents to individuals and families earning between 60 and 80 percent of the area median income (AMI). The community is located along the proposed extension of the Proctor Creek Greenway, which will offer access to Westside Park and the Atlanta BeltLine. RAM Partners will manage the property, which was designed by Dynamik Design.

July 7, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Connolly, Coro Realty Unveil Mixed-Use Redevelopment in Sandy Springs, Georgia

by John Nelson June 28, 2023

SANDY SPRINGS, GA. — Connolly and Coro Realty have announced the repositioning of the commercial portion of a mixed-use development in metro Atlanta formerly known as Sandy Springs Gateway. The duo purchased the 120,000-square-foot component in February 2022 for $40.5 million. The property, which comprises 92,000 square feet of shops, restaurants and service retailers and 28,000 square feet of second-story office space, is now known as Chastain Market due to its proximity to Chastain Park in the nearby Buckhead district of Atlanta. Connolly and Coro Realty have also inked new leases for the project, including an Italian eatery from chef Kevin Maxey, Alloy Personal Training and United Community Bank. In addition to re-tenanting the development’s former Sprouts Farmers Market grocery store, Connolly and Coro Realty are undertaking a multimillion-dollar renovation to the property. Additionally, a new mural was painted for the project at the corner of Roswell Road and Windsor Parkway. Chastain Market is adjacent to two apartment communities totaling 630 units: The Gateway Chastain and The Collection.

June 28, 2023

Georgia Loans Office Southeast

CBRE Arranges Refinancing of 312,591 SF Platinum Tower Office Building in Atlanta

by John Nelson June 27, 2023

ATLANTA — CBRE has arranged a loan for the refinancing of Platinum Tower, a 312,591-square-foot office building located at 400 Interstate N. Parkway in Atlanta’s Cumberland/Galleria submarket. The 17-story office tower is situated near the intersection of I-75 and I-285 and within walking distance of the Chattahoochee River and The Battery, a mixed-use development surrounding Truist Park, the home ballpark of the Atlanta Braves. Brian Linnihan, Mike Ryan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta represented the borrower, Accesso, in the deal. An undisclosed financial services firm provided the five-year CMBS loan, the amount of which was not disclosed.

June 27, 2023

Georgia Industrial Leasing Activity Southeast

Cushman & Wakefield Arranges 234,200 SF Industrial Lease in Locust Grove, Georgia

by John Nelson June 26, 2023

LOCUST GROVE, GA. — Cushman & Wakefield has arranged a 234,200-square-foot lease at Gardner Logistics Park, an industrial development located at 381 Davis Lake Road in Locust Grove, roughly 40 miles southeast of Atlanta. Tenant NVH Korea, an acoustic and thermal management company, will occupy Building 2 at the property, which was built as part of Phase II of the three-phase development. James Phillpott, Ray Stache, Lisa Pittman and Helen Cauthen of Cushman & Wakefield represented the landlord, Indianapolis-based Scannell Properties, in the leasing negotiations. NVH Korea marks the sixth major tenant to lease space at Gardner Logistics Park.

June 26, 2023

Development Georgia Restaurant Retail Southeast

200 Peachtree Group Underway on Two Restaurant Developments in Downtown Atlanta

by John Nelson June 26, 2023

ATLANTA — 200 Peachtree Group , an Atlanta-based owner and operator of food-and-beverage/entertainment brands, is underway on the development of two restaurants located at 200 Peachtree St. in downtown Atlanta. SKOL Brewing Co., a craft brewery, will comprise 5,000 square feet and is expected to open later this year. Food, beverage and entertainment hall Valhalla Social is scheduled to open in spring or summer 2024 and will total 15,000 square feet, with seating for roughly 300 people. CNNA Architects is the architect for both projects, which hope to capitalize on major tourism events coming to downtown Atlanta, including the 2025 College Football Playoff National Championship and the 2026 FIFA World Cup.

June 26, 2023

Acquisitions Georgia Retail Southeast

JLL Brokers Sale of 53,559 SF Retail Center in Metro Atlanta

by John Nelson June 26, 2023

MARIETTA, GA. — JLL Capital Markets has brokered the sale of Merchant’s Festival, a 53,559-square-foot retail center located at 1401 Johnson Ferry Road in Marietta, roughly 20 miles northwest of Atlanta. Target shadow-anchors the center. Jim Hamilton, Brad Buchanan and Anton Serafini of JLL represented the seller, a real estate fund advised by Crow Holdings Capital. Last Mile Investments acquired the property for an undisclosed price. Tenants at Merchant’s Festival, which was 85 percent leased at the time of sale, include Which Wich, Leslie’s Swimming Pool Supplies, Verizon Wiresless, Orangetheory Fitness, Pearle Vision Express and Learning Express Gifts.

June 26, 2023

Newer Posts

Older Posts