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Atlanta-Opera
CivicDevelopmentGeorgiaSoutheast

Atlanta Opera to Open $45M Performing Arts Venue on the BeltLine

by Hayden Spiess

ATLANTA — The Atlanta Opera will open a $45 million performing arts venue on Woodward Way along the Atlanta BeltLine. The project is a redevelopment of the historic Bobby Jones Clubhouse. Upon completion, which is scheduled for summer 2027, the development will feature a 56,000-square-foot complex with a 200-seat recital hall, administrative offices, a costume shop, film studio, rehearsal hall and garden spaces. Theater Projects and A’kustics LLC will develop the recital hall. Allen Post of architecture firm Post Loyal is leading the design of the new facility. The project is part of the Atlanta Opera’s recently launched $110 million campaign, for which core funding has already been secured. 

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AcquisitionsGeorgiaMultifamilySoutheast

CBRE Facilitates $57.2M Multifamily Portfolio Sale in College Park, Georgia

by John Nelson

COLLEGE PARK, GA. — CBRE has facilitated the $57.2 million sale of a two-property multifamily portfolio in College Park, a southern suburb of Atlanta near Hartsfield-Jackson Atlanta International Airport. The communities in the portfolio include Meadow Springs and Meadow View and comprise 456 apartments combined. Greybrook acquired the portfolio from an affiliate of Harbor Group International LLC. Shea Campbell, Ashish Cholia, Kevin Geiger, Keith Geiger, Colleen Hendrix, Don Hoffman, Malcolm McComb and Kurt McGarry of CBRE Southeast Multifamily represented the seller in the transaction. The team also represented Harbor Group in its $102 million sale of a metro Atlanta multifamily portfolio to LRE Management LLC.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Lalani Ventures, Exact Capital to Develop $160M Mixed-Income Multifamily Tower at Underground Atlanta

by John Nelson

ATLANTA — Lalani Ventures, owner of the historic Underground Atlanta development in downtown Atlanta, has formed a joint venture with New York-based Exact Capital to develop a $160 million multifamily high-rise project. The 30-story tower will feature a mix of 163 affordable housing units, with incomes restricted to households earning at or below 60 percent of the area median income, as well as 242 market-rate apartments and community amenities. Lalani Ventures and Exact Capital are currently in the planning and design phases for the tower and have tapped architectural firm Niles Bolton to handle the unnamed tower’s design, engineering and permitting. The site for the tower is at Underground Atlanta’s fountain plaza, which is bordered by Peachtree Street to the west, Wall Street to the north, Pryor Street to the east and Upper Alabama Street to the south. The board at Invest Atlanta, the City of Atlanta’s economic development arm, voted yesterday to approve an inducement for a $40 million tax-exempt bond issuance to help finance the tower’s affordable housing units. The Invest Atlanta board will have an opportunity to review the project again before providing its final resolution in advance of the Lalani-Exact joint venture closing on its construction …

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AcquisitionsDevelopmentGeorgiaRetailSoutheast

Gwinnett County Acquires 23-Acre Macy’s Site at Gwinnett Place Mall in Metro Atlanta

by John Nelson

DULUTH, GA. — Gwinnett County’s Urban Redevelopment Agency has acquired a Macy’s department store and furniture store at Gwinnett Place Mall, a beleaguered regional shopping mall in the northeast Atlanta suburb of Duluth. In 2021, the county initially purchased a 39-acre portion of the Gwinnett Place Mall site, and with this 23-acre acquisition, will own a total 76 acres. The mall originally opened in 1984. Gwinnett County’s Urban Redevelopment Agency purchased the two Macy’s stores, which span 293,059 square feet, in a sale-leaseback with the New York-based retail giant. Macy’s will continue to operate the two stores through early 2025. The county purchased the stores for $16.5 million and will issue bonds to finance the transaction, which is expected to close in November. “The acquisition of the Macy’s site marks a pivotal step forward in the redevelopment of Gwinnett Place Mall, setting the stage for Gwinnett County to establish a national — and possibly international — model for equitable and impactful transformation,” says Nicole Love Hendrickson, Gwinnett County chairwoman. “This redevelopment will be a catalyst for change, creating transformative opportunities that enhance property values, align with neighboring investments and drive growth for a new generation of entrepreneurs, residents and local …

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Amira Choice
Conference CoverageFeaturesGeorgiaSeniors HousingSoutheastSoutheast Feature Archive

Technology Can Complement — But Never Replace — The Human Touch in Seniors Housing Communities, Say InterFace Panelists

by John Nelson

ATLANTA — Though the older population is often seen as removed from modern technology, tech products offer great promise to the seniors housing sector. Participants in the “Technology Revolution: Enhancing Resident Care and Operational Cost Effectiveness” panel at the InterFace Seniors Housing Southeast conference (held recently in Atlanta) all agreed on this point. Importantly though, the panel — which was moderated by Mark Petty, vice president of corporate accounts with ICON — also highlighted the fact that seniors housing is an industry rooted in human interaction. Given this fact, the panelists concluded that technology can complement and enhance, but never replace, the human touch. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Three Questions A strategic approach in the purchase and application of technology within seniors housing communities is paramount, pointed out Joe Jasmon, CEO and managing partner of American Healthcare Management Group. In addition to being highly helpful, the products offered by tech companies can be costly. “To have tech just to have tech is really a waste of time, effort and money,” asserted Jasmon. …

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Georgia-Pacific-Rendering
DevelopmentGeorgiaMixed-UseSoutheastTop Stories

Georgia-Pacific Announces Plans for Mixed-Use Redevelopment at 51-Story Downtown Atlanta Campus

by Hayden Spiess

ATLANTA — Paper products manufacturing and marketing giant Georgia-Pacific has announced plans to redevelop the company’s 51-story world headquarters building and the surrounding city block in downtown Atlanta.  Upon completion, the development will feature more than 400 apartment units on the tower’s top floors; 125,000 square feet of retail, restaurant and entertainment space; 600,000 square feet of Class A office space anchored by Georgia-Pacific and its parent company, Koch Inc.; 35,000 square feet for a large, central plaza; more than 2,100 parking spaces; and MARTA and Atlanta Streetcar transportation access.  “The office landscape has changed, and we recognize that the adaptive reuse of our site and office tower can create greater long-term value,” says Christian Fischer, president and CEO of Georgia-Pacific. “We are also acutely aware of the need for more residential, shopping, dining and entertainment options in our downtown neighborhood, which is why Georgia-Pacific is excited to provide a space that will offer unmatched opportunity in downtown Atlanta.” Additionally, the redevelopment plans will allow for future multi-phase hospitality, retail and residential development opportunities at the site. Delivery of the transformed campus is scheduled for fall 2027. Located at 133 Peachtree St., the office tower has been occupied by Georgia-Pacific …

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GeorgiaLeasing ActivityOfficeSoutheast

T-Mobile Renews 100,000 SF Office Lease at One Ravinia in Atlanta

by John Nelson

ATLANTA — T-Mobile has renewed its approximately 100,000-square-foot lease at One Ravinia, a 17-story office tower in Atlanta’s Central Perimeter submarket. Boca Raton-based CP Group is the landlord of One Ravinia, as well as sister property Two Ravinia. T-Mobile has been a tenant at the tower since 2007. Eric Ross of CBRE represented CP Group in the lease negotiations, and Kirk Diamond, April Parrish, Erin Smith and Steven Taylor of Cushman & Wakefield represented T-Mobile. CP Group recently completed a series of capital improvements across One and Two Ravinia, including enhancing the lobbies, renovating and expanding the cafe and coffee bar, adding a modern tenant lounge with outdoor seating, upgraded the onsite conference center and introducing 85,000 square feet of worCPlaces, or speculative suites.

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DevelopmentGeorgiaLeasing ActivityOfficeRetailSoutheast

The Athlete’s Foot Opens Corporate Headquarters, Flagship Store in Midtown Atlanta

by John Nelson

ATLANTA — The Athlete’s Foot, a shoe and sports apparel retailer with 400 stores in 24 countries, has opened its corporate headquarters and flagship store in Midtown Atlanta. The retailer’s new home at 931 Monroe Drive also includes a community center component that will serve as “cultural hub” for community engagement. The Athlete’s Foot’s new headquarters and flagship store is situated along the Atlanta BeltLine adjacent to Piedmont Park. Project partners included prominently Black-owned companies, including T. Dallas Smith & Co. (real estate advisor), J.M. Lee Construction Co. (general contractor) and Aysha Pennerman (mural artist).

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DevelopmentGeorgiaMultifamilySoutheast

McShane Construction Delivers 288-Unit OSLO Apartment Community in Metro Atlanta

by John Nelson

FAIRBURN, GA. — McShane Construction Co. has delivered OSLO, a new, 288-unit apartment community in Fairburn, roughly 20 miles southwest of Atlanta. McShane constructed the project on behalf of the developer, South City Partners. In addition to one-, two- and three-bedroom residential units, OSLO features 4,000 square feet of retail space and 7,000 square feet of amenities, including a heated saltwater pool, fitness center, clubroom, pickleball courts, dog park, pet spa and a walking trail. Monthly rental rates begin at $1,569, according to the property website. Dynamik Design served as OSLO’s architect of record.

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AcquisitionsGeorgiaMultifamilySoutheast

LRE Management Acquires Multifamily Portfolio in Metro Atlanta for $102M

by John Nelson

ATLANTA — LRE Management has acquired a multifamily portfolio located in the Atlanta metro area for $102 million. The seller was not disclosed. Totaling 778 units across three properties, the portfolio comprises Eastwood Village in Stockbridge, Monterey Village in Jonesboro and Peachtree Landing in Fairburn. Amenities at each community include a pool and fitness center. LRE, which assumed mortgage debt in the purchase, plans to renovate select unit interiors, as well as modernize the amenities and implement new property management. “We believe that acquiring 2000s-vintage assets in a tier-one market at pre-pandemic pricing and at a significant discount to current replacement cost represents a once-in-multiple-decades investment opportunity,” says Eric Londa, founder and managing partner of LRE.

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