Friday, December 26, 2025
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AcquisitionsGeorgiaIndustrialSoutheast

LRC Properties Acquires Vacant Industrial Building in Morrow, Georgia for $31.5M

by John Nelson

MORROW, GA. — LRC Properties has purchased a vacant, 522,071-square-foot industrial building located at 1791 Mt. Zion Road in Morrow, about 15 miles south of Atlanta and about seven miles from Hartsfield-Jackson Atlanta International Airport. LRC purchased the asset in a joint venture with an unnamed, institutional investor for $31.5 million. The seller was also not disclosed. The new ownership plans to make capital improvements at the site, including removing 54,000 square feet from the property that will improve access, generate better traffic flow and add trailer parking and dock space. The new ownership also plans to install a new ESFR sprinkler system, LED lighting and exterior building and pavement improvements. Mike Sutter of Lee & Associates is handling the leasing assignment at the facility.

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DevelopmentGeorgiaMultifamilySoutheast

RangeWater to Develop Residential Campus in Metro Atlanta Totaling 488 Units

by John Nelson

BUFORD, GA. — RangeWater Real Estate has purchased 50 acres in the Atlanta suburb of Buford with plans to build two adjacent residential communities totaling 488 units. The properties include The Mabry, a build-to-rent community with 156 single-family homes, and The Margot, a 332-unit apartment community. The Mabry will feature three- to four-bedroom homes, each with its own backyard and patio. Amenities will include a pool, events lawn, dog park and a walking trail around a pond. The Margot will feature a garden, pool, outdoor kitchen, two dog parks and a clubhouse that will feature work and study pods and a coffeehouse open to the public. The communities will be located near Coolray Field, home ballpark of the Atlanta Braves’ Minor League Baseball affiliate Gwinnett Stripers, as well as The Exchange @ Gwinnett and Mall of Georgia. Additionally, RangeWater launched an in-house construction division called RangeWater Construction that will build both The Mabry and The Margot. Alp Kirmizioglu is overseeing the new division. RangeWater expects to begin construction in July for both communities, with first units slated to deliver in October 2023.

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DevelopmentGeorgiaMixed-UseSoutheast

Green Brick to Build $400M Mixed-Use Campus in Cumming, Georgia

by John Nelson

CUMMING, GA. — Green Brick Partners Inc., a homebuilding and land development firm, has purchased 152 acres in the Atlanta suburb of Cumming. The Plano, Texas-based company plans to develop a mixed-use campus valued at $400 million at the site named Sawnee Village. The development will include 474 detached and attached homes built by Atlanta-based Providence Group, as well as more than 250 apartments, 220,000 square feet of seniors housing and office and retail space spanning 106,000 square feet. The master-planned campus will be situated near Ga. Highway 400 and Lake Lanier, as well as close to the New Cumming City Center, Avalon, Halcyon and Northside Forsyth Hospital. Nelson Architecture is designing Sawnee Village, and Providence Group is managing the overall development. Green Brick, which owns a controlling interest in Providence Group, plans to break ground on Sawnee Village this summer.

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AcquisitionsGeorgiaRetailSoutheast

Stan Johnson Co. Brokers $97M Sale of Shoppes at Webb Gin in Metro Atlanta

by John Nelson

SNELLVILLE, GA. — Stan Johnson Co. has brokered the $97 million sale of The Shoppes at Webb Gin, an open-air shopping center in the Atlanta suburb of Snellville. Baltimore-based Continental Realty Corp. (CRC) purchased the 330,000-square-foot center, which was originally branded The Avenue Webb Gin when it was delivered in 2006 by Atlanta-based Cousins Properties. Margaret Caldwell and Patrick Kelley of Stan Johnson Co. represented the seller, New York City-based Olshan Properties, in the transaction. Sprouts Farmers Market, Barnes & Noble and DSW anchor the center, which offers 70 units across eight buildings. The property was 89 percent leased at the time of sale to tenants including H&M, LensCrafters, Kirkland’s, Victoria’s Secret, American Eagle, LOFT, Chili’s Grill & Bar and Sephora. The center is situated on 48 acres, which includes available land for additional development along with a build-to-suit outparcel.

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Inland-Portfolio
AcquisitionsCaliforniaGeorgiaIllinoisMarylandMichiganMidwestMinnesotaNortheastPennsylvaniaRetailSoutheastTexasTop StoriesWestern

JLL Brokers $278M Sale of Eight-Property Grocery-Anchored Retail Portfolio

by Katie Sloan

OAK BROOK, ILL. — JLL’s Capital Markets group has arranged the $278 million sale of an eight-property, grocery-anchored retail portfolio. The buyer was Inland Real Estate Income Trust Inc. The properties were 88.5 percent leased at the time of sale to tenants including Ralphs, Target, Whole Foods Market, Giant, Trader Joe’s, Sprouts Farmers Market, Nordstrom Rack, Starbucks Coffee, Rite Aid and Sierra Trading Post. The properties span 687,000 square feet and include:  Olde Ivy Village, located outside of Atlanta at 4330 East-West Connector in Smyrna, Ga.; Denton Village, located at 4930 Teasley Lane in the Dallas suburb of Denton, Texas; Northpark Square Village, located at 27706-27776 McBean Parkway in the metro Los Angeles community of Valencia, Calif.; Northville Park Place, located at 18771-39869 Traditions Drive in Northville, Mich., outside of Detroit; City Place, located eight miles east of Saint Paul at 205 Radio Drive in Woodbury, Minn.; Rusty Leaf Plaza, located at 2512-2560 E. Chapman Ave. in Orange, Calif.; Lower Makefield Shopping Center, located at 700 Stony Hill Road in Yardley, Pa., outside Philadelphia; and New Town Village, located at 9700 Groffs Mill Drive in the metro Washington, D.C., community of Owings Mills, Md. Bill Moylan, Chris Angelone, Barry Brown, …

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DevelopmentGeorgiaIndustrialOfficeSoutheast

Shadowbox Studios Underway on 1.2 MSF Expansion of Movie Studio Campus in Atlanta

by John Nelson

ATLANTA — Shadowbox Studios, a TV and movie studio operator formerly known as Blackhall Studios, is underway on expanding its studio campus in Atlanta from nine soundstages to 31. The 1.2 million-square-foot expansion project will grow the locally based company’s footprint to total 2 million square feet. The move follows a $500 million financing commitment from Silver Lake, a private equity investor with more than $88 billion in assets under management. Silver Lake will partner with existing investor Commonwealth Asset Management, which remains the majority shareholder of Shadowbox Studios. The capital injection will also be used to fund Shadowbox’s studio developments underway in London and Los Angeles. Deutsche Bank, EY and Sidley Austin represented Shadowbox in the financing transaction with Silver Lake. Farrer & Co. and King & Spalding also provided legal counsel. Latham & Watkins represented Silver Lake. The existing Atlanta studios for Shadowbox Studios served as filming locations for movies such as Jumanji: The Next Level, Jungle Cruise and Godzilla: King of the Monsters. The construction timeline for the expansion project was not disclosed.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Arranges $28.1M Sale of Three-Property Industrial Portfolio in Metro Atlanta

by John Nelson

KENNESAW AND NORCROSS, GA. — JLL Capital Markets has brokered the $28.1 million sale of a three-property light industrial and flex portfolio in metro Atlanta totaling 172,881 square feet. Matt Wirth, Ralph Smalley, Jim Freeman and Max Coffin of JLL represented the seller, Deerfield Beach, Fla-based Geneva Group, in the transaction. Miami-based Adler Real Estate Partners was the buyer. The properties included a 46,808-square-foot facility at 1965 Vaughn Road in Norcross, a 61,073-square-foot light industrial building at 4955 Avalon Ridge Parkway in Norcross and a 65,000-square-foot flex property at 1155 Roberts Blvd. in Kennesaw. Completed between 1992 and 1996, the Norcross buildings feature 22-foot clear heights, 27 dock-high doors, four drive-in doors and approximately 3.5 years of weighted average remaining lease term. The Kennesaw asset was built in 1991 and houses two unnamed, globally recognized tenants with over six years of weighted average remaining lease term.

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DevelopmentGeorgiaMultifamilySoutheast

Wood Partners, CP Capital Break Ground on 310-Unit Alta North Apartments in Cumming, Georgia

by John Nelson

CUMMING, GA. — A joint venture between Wood Partners and CP Capital US (formerly HQ Capital Real Estate) has broken ground on Alta North, a 310-unit apartment community in the Atlanta suburb of Cumming. The site will be located at the intersection of Ga. Highway 400 and Settingdown Circle, about 45 miles north of Atlanta. Alta North will feature one- and two-bedroom apartments with wood-style plank flooring, stainless steel appliances, microwave hoods, undermounted single bowl sinks, tile backsplashes, in-home washer and dryers and granite countertops in the kitchen and bathrooms. Community amenities will include a resort-style swimming pool with a tanning ledge, multiple grilling stations and fire pits, pet park and spa, 24/7 fitness center, social gathering areas and rentable coworking office spaces, as well as 15,000 square feet of commercial space.

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DevelopmentGeorgiaMixed-UseMultifamilySoutheast

ECI, Phoenix Capital Begin Construction on $101M Apartment Community in Roswell, Georgia

by John Nelson

ROSWELL, GA. — A joint venture between ECI Group and Phoenix Capital has broken ground on Averly East Village, a $101 million luxury apartment and townhome community in the Atlanta suburb of Roswell. The developers expect to deliver the property in late 2024. Truist Financial provided construction financing for the project, which Rule Joy Trammell Rubio Architects designed. The multifamily project is part of a mixed-use redevelopment of East Village Shopping Center, and Ardent Cos. will continue to own the retail component. Amenities will include a pool with a sun shelf, pool deck with cabanas, two outdoor kitchens, clubroom, synthetic turf dog park and dog spa, two-story fitness center, outdoor gym, coffee lounge with individual work spaces and secure bicycle storage. At full buildout Averly East Village will include one-, two- and three-bedroom apartments and townhomes, as well as 75,000 square feet of retail space and a large central green space.

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DevelopmentGeorgiaIndustrialSoutheast

Seefried, Clarion to Build 969,620 SF Distribution Center Campus in Buford, Georgia

by John Nelson

BUFORD, GA. — Seefried Industrial Properties and Clarion Partners plan to develop Buford North Distribution Center, a 969,620-square-foot logistics park in the Atlanta suburb of Buford. The speculative project will include three buildings located along I-985 in Hall County. All three buildings will include 185-foot concrete truck courts, 36-foot clear heights and ESFR sprinklers. Seefried and Clarion recently purchased an 80-acre site about 40 miles northeast of Atlanta near I-85. The first facility is slated to break ground in August and full completion is anticipated for the fourth quarter of 2023. The project team includes civil engineer Eberly & Associates and architect Atlas Architecture. Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will oversee leasing efforts.

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