Georgia

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

Acquisitions Georgia Retail Southeast

CTO Realty Growth Acquires Madison Yards Retail Development in Atlanta for $80.2M

by John Nelson July 12, 2022

ATLANTA — CTO Realty Growth, a retail REIT based in Daytona Beach, Fla., has purchased Madison Yards, a new retail development in Atlanta’s Inman Park district. The developer, locally based Fuqua Development, sold the 162,500-square-foot project to CTO Realty Growth for $80.2 million. Located at 905 Memorial Drive along the Atlanta Beltline’s Eastside Trail, Madison Yards was 98 percent leased at the time of sale to tenants including anchors Publix and AMC Theatres. Other tenants include AT&T, First Watch and Orangetheory Fitness. Fuqua delivered the property in 2019, as well as an attached apartment community that was not part of the transaction.

July 12, 2022

Development Georgia Office Southeast

Crescent Communities, KB Venture to Redevelop Historic Alpharetta School as 160,000 SF Office Campus

by John Nelson July 12, 2022

ALPHARETTA, GA. — Crescent Communities and KB Venture Partners have formed a partnership for the adaptive reuse of the former Baily-Johnson School in Alpharetta. The duo will transform the formerly segregated school, which served black students in north Fulton County from its opening in 1950 to its closing in 1967, into a three-building office campus totaling 160,000 square feet. The office campus will include a new 120,000-square-foot mass timber office building, as well as the redevelopment of the main school building and gymnasium. The new campus, dubbed Garren, is named after the school’s namesakes, George Bailey and Warren Johnson. The 4.4-acre site was most recently used as a maintenance facility for Fulton County Schools. Once complete, tenants at Garren will be in close proximity to Avalon and downtown Alpharetta and have access to several amenities on the campus, including outdoor gathering areas, private tenant patios, a tenant lounge, fitness centers, locker room with showers and bike storage. John Zintak and Porter Henritze of Cushman & Wakefield are handling the leasing assignment. A construction timeline was not disclosed.

July 12, 2022

Acquisitions Georgia Mixed-Use Southeast

Portman Holdings, Harrison Street Recapitalize Coda Mixed-Use Tower in Atlanta’s Tech Square

by John Nelson July 11, 2022

ATLANTA — Locally based development firm Portman Holdings has formed a joint venture with Chicago-based alternative real estate asset management firm Harrison Street to recapitalize Coda, a 664,000-square-foot mixed-use tower located at 756 W. Peachtree St. in Atlanta’s Technology Square. As part of the partnership, Harrison Street is purchasing a stake in the tower, which Portman delivered in 2019 adjacent to the Georgia Tech campus, from the Atlanta-based company for an undisclosed amount. Comprising educational, research, office and retail space, Coda serves more than 700 Georgia Tech faculty, staff and researchers, as well as tech firms including Cisco, AutoDesk and Keysight Technologies. The asset was 98 percent leased at the time of the recapitalization and features an onsite data center that is owned and operated by DataBank, as well as the Collective Food Hall.

July 11, 2022

Development Georgia Restaurant Retail Southeast

NAP Gains County Approval for Redevelopment of Avenue East Cobb Shopping Center in Metro Atlanta

by John Nelson July 8, 2022

MARIETTA, GA. — North American Properties (NAP) has gained unanimous approval from the Cobb County Board of Commissioners for its redevelopment plan of the Avenue East Cobb, an open-air shopping center located in the northeast Atlanta suburb of Marietta. Plans call for a portion of the central building near Kale Me Crazy to be demolished to make way for an 8,000-square-foot area called The Plaza that will be surrounded by restaurants with patios. The Plaza will feature a covered, raised stage for performances; an LED screen for broadcasting live events; and a deck with soft, flexible seating. Connected to The Plaza will be a 500-square-foot concierge building with optional valet that will be offered seasonally and during large-scale events. Two 2,500-square-foot, standalone retail and restaurant buildings will also be constructed adjacent to the concierge station. Additionally, NAP has secured new leases with Warby Parker, New York Butcher Shoppe and Tempur-Pedic, as well as a Kendra Scott pop-up and Vanilla Café. The Cincinnati-based developer will begin the permitting process immediately with plans to host a public groundbreaking celebration later this fall. NAP is partnering with PGIM Real Estate for the redevelopment of Avenue East Cobb, which Atlanta-based Cousins Properties opened in …

July 8, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Lalani Ventures Inks Deal to Move Atlanta Brewing Co. to Underground Atlanta

by John Nelson July 7, 2022

ATLANTA — Lalani Ventures has signed Atlanta Brewing Co., a pioneer of the craft beer movement in the Southeast, to relocate from Atlanta’s West Midtown district to Underground Atlanta, a historic mixed-use redevelopment underway in south downtown Atlanta. The brewer was founded in 1993 with its first location off Williams Street in Midtown, before moving to its current location in 2007. The brewer will relocate again to Underground Atlanta and operate a new indoor/outdoor taproom, brewery and restaurant along Upper Alabama Street. The 8,600-square-foot location, which was once the Atlanta Visitors Center, is set to open before the end of the year and will feature a rotation of guest chefs, ping pong tables, a canning operation and roll-up garage doors. Additionally, the taproom will offer 20 beer selections and self-pouring taps throughout the space. Lalani Ventures has previously secured leases at Underground Atlanta with Fulton County’s Public Arts Future Lab, an artist residency funded by Microsoft; MARTA Artbound, MARTA’s public art program; Arts & Entertainment Atlanta; YELLE Beauty, a black woman-owned and operated beauty concept by Yandy Smith-Harris; Dancing Crepes, a new dining concept also by Smith-Harris; dolo’s pizza company, a pizza concept by Alyson Williams and Yusef Walker; and …

July 7, 2022

Development Georgia Multifamily Southeast

Landmark, ACRE Deliver 350-Unit Multifamily Community in Covington, Georgia

by John Nelson July 6, 2022

COVINGTON, GA. — Landmark Properties and ACRE have delivered The Cove at Covington Town Center, a 350-unit apartment community within the 131-acre Covington Town Center master-planned development. The property manager, Charleston-based Greystar, has begun leasing the metro Atlanta community for rents ranging between $1,285 and $3,035 per month, according to the property website. Situated at 12301 Town Center Blvd. in Covington, The Cove features a mix of one-, two- and three-bedroom floor plans ranging between 620 and 1,945 square feet. Amenities include a clubhouse, resort-style pool, coworking spaces, fitness center, linear park, dog park and a pet spa. Each unit includes washers and dryers, modern lighting fixtures and quartz countertops.

July 6, 2022

Acquisitions Florida Georgia Industrial Southeast

JLL Brokers $157.8M Sale of Industrial Portfolio in Sun Belt

by John Nelson July 5, 2022

ATLANTA — JLL has brokered the sale of an industrial portfolio in the Sun Belt totaling nearly 1.3 million square feet across 12 individual buildings. Taurus Investment Holdings LLC purchased the assets from Summit Real Estate Group for $157.8 million. Dennis Mitchell, Trent Agnew and Louis Castillo of JLL represented the seller in the transaction. The portfolio includes Creekside Distribution Center in East Point, Ga.; Peachtree Nortech in Peachtree Corners, Ga.; Maggie Boulevard in Orlando; West Bay Corporate Center and Metropointe Commerce Center in North St. Petersburg, Fla.; and Corporate Center Fannin I in Houston. The portfolio was 98 percent leased at the time of sale to public and private companies, including Raytheon, Iron Mountain and DAP Americas.

July 5, 2022

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