SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.
SANDY SPRINGS, GA. — Global Real Estate Advisors (GREA) has brokered the $36.7 million sale of Aqua Sandy Springs, an apartment community located at 100 Greyfield Lane in Sandy Springs, roughly 15 miles outside Atlanta. An entity doing business as Sandy Springs Residences II LLC acquired the property from an entity doing business as 29SC RN Property Owner LLC. Chandler Brown, Cory Sams and Taylor Brown of GREA represented the seller in the transaction. Built in 1985 and 2000, Aqua Sandy Springs features 219 units in one-, two- and three-bedroom floorplans. The new owner plans to implement a value-add program at the property, which is situated near Atlanta’s Central Perimeter district, downtown Roswell and Alpharetta.
CONYERS, GA. — The Storage Acquisition Group (TSAG) has purchased a 911-unit self-storage facility located at 4489 McDonough Highway in Conyers, about 30 miles southeast of Atlanta. The 76,125-square-foot asset was the final facility of TSAG’s 18-property portfolio purchase from True Self Storage that spans 13,714 units across 10 states. The sales price was not disclosed. Bill Sitar Jr., John Cranley, Andrew Burachinsky and Monty Spencer led TSAG’s acquisition team on an internal basis.
MCDONOUGH, GA. — Atlanta-based tire manufacturer Kumho Tire USA has fully leased 210 Interstate South Drive, a 428,160-square-foot cross-dock industrial facility located in the south Atlanta suburb of McDonough. Price Weaver and Hooper Wilkinson of Colliers represented the tenant in the lease negotiations. Bob Currie, Brad Pope, Reed Davis and Hannah Dillard of JLL represented the landlord, Dermody Properties. The distribution center is located less than one mile from I-75 and 24 miles from Hartsfield-Jackson Atlanta International Airport. The facility features 28-foot clear heights, 101 dock-high doors, 147 trailer storage spaces and ESFR sprinklers. The property was built in 2000, according to LoopNet Inc.
SNELLVILLE, GA. — JLL has arranged the sale of Presidential Commons, a 264,271-square-foot shopping center located in Snellville, a northeast suburb of Atlanta. Kroger anchors the property, which was 89 percent leased at the time of sale. Other tenants at the center include Petco, Ulta Beauty, Burlington, Five Below and Aaron’s. SITE Centers sold the property to Sterling Organization for an undisclosed price. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller in the transaction.
SUGAR HILL, GA. — Ackerman & Co. has formed a partnership with Novare Group to develop an unanchored retail center in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. The project will comprise two buildings spanning 6,035 square feet and 7,240 square feet adjacent to Novare’s 306-unit Conclave Sugar Hill multifamily community, which was delivered recently. Kelly Wilson of Ackerman Retail, a division of Ackerman & Co., will spearhead the leasing efforts for the project, which will be developed on a four-acre site on Hillcrest Drive. Ackerman Retail will target homegrown and regional restaurants, fast-casual eateries, boutiques and shops for the project, with flexible space options starting at 1,260 square feet.
SUGAR HILL, GA. — Novare Group and BCDC have delivered Conclave Sugar Hill, a 306-unit apartment community in metro Atlanta. The property is located off Ga. Highway 20 at 1375 Hillcrest Drive, directly across from Sugar Hill’s town center. The property includes studio, one-, two- and three-bedroom apartments, as well as townhomes with private garages and patios. Monthly rental rates range from $1,455 to $2,915, according to Apartments.com. The gated community interfaces with the 11.5-mile Sugar Hill Greenway and also features a two-story club room with a library and lounge and a two-story fitness center. Other amenities include a resort-style pool with a sun shelf and tanning ledge, fire pits, lounge spaces, greenspaces, coworking spaces and a dog park.
AUSTIN, TEXAS — American Campus Communities (ACC) has delivered new student housing projects totaling $855 million this year. Together, the six communities — which include Meadows Apartments at Princeton University, Casa del Valle at Arizona State University, The Ridge Graduate & Professional Housing at Emory University, xučyun ruwway Graduate Student Apartments at University of California Berkeley, East Campus Graduate Apartments at The University of Texas at Austin and Graduate Junction at MIT — feature 3,867 beds. Austin, Texas-based ACC is the third-party developer and manager for Graduate Junction (676 beds), East Campus Graduate Apartments (784 beds), The Ridge Graduate & Professional Housing (535 beds) and Meadows Apartments (604 beds). Amenities at Meadows Apartments at Princeton University include a communal kitchen, children’s playroom and a market and café. In addition to a communal kitchen, The Ridge Graduate & Professional Housing at Emory University features a fitness center, study areas and a parking garage. At Graduate Junction at MIT, amenities include study areas, a recreation center and gym and indoor bike storage. ACC is the owner, developer and manager of Casa del Valle at Arizona State University, which offers 507 suite-style beds with social lounges, Zen areas and landscaped outdoor amenities. ACC …
WARNER ROBINS, GA. — Parkland Residential has secured a $57 million loan for the financing of Grover Landing, a build-to-rent (BTR) residential community underway in Warner Robins, roughly 20 miles south of Macon, Ga. The loan will be used to refinance completed homes at the development, which will total 317 units. Residences at the community range from two to four bedrooms in size. Amenities at the development include a swimming pool with a cabana, playground, pocket parks and a playfield, as well as yard maintenance, pest control, home repairs and appliances. Avi Kozlowski, Thomas Wayda and Dante Distefano of Greystone arranged the financing through Encore Finance. Additionally, Synovus Bank will provide construction financing for newly built homes.
FloridaGeorgiaMarket ReportsNorth CarolinaSouth CarolinaSoutheastSoutheast Market ReportsStudent Housing
Universities, Student Housing Properties in Southeast Contend with Hurricane Helene
Hurricane Helene made landfall in Northwestern Florida on Thursday, Sept. 26, after being upgraded to a major Category 3 storm that afternoon. Widespread damage across a number of Southeastern states followed in its wake, with many areas experiencing flooding, downed trees, power outages and road closures. At least 175 people have died across six states, according to reports by CNN and The New York Times, and officials fear that the death toll is likely to rise with many remaining missing. Hundreds of roads remain closed across the Southeast — especially in Western North Carolina and East Tennessee, which were hit particularly hard by the hurricane — hampering the delivery of supplies, and more than 2 million customers remain without power. Student Housing Business reached out to universities, owners, operators and students across the Southeast to check in on how they fared during the storm and their experience in the aftermath. Owners, Operators Weigh In Denver-based Cardinal Group tracked its communities in Alabama, Arkansas, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, Virginia and West Virginia through Hurricane Helene. “Of those communities, four experienced power outages and several had minor roof leaks and flooding, with the largest impact felt in Asheville and Boone, North Carolina,” says Jenn Cassidy, president of property operations …