BROOKHAVEN, GA. — On Sunday, Children’s Healthcare of Atlanta (CHOA) is set to open Arthur M. Blank Hospital, a 2 million-square-foot children’s hospital located in the northeastern Atlanta suburb of Brookhaven. The Atlanta Journal-Constitution reports that development costs for the facility, which is situated at the heart of CHOA’s new North Druid Hills campus, totaled approximately $1.5 billion. Arthur M. Blank Hospital rises 19 stories on a 70-acre site at the corner of I-85 and North Druid Hills Road. The new facility offers 446 patient beds, a 70,000 square-foot emergency department with 69 emergency exam rooms and a level one pediatric trauma center — the only dedicated one in Georgia, according to CHOA. The new hospital is named after Arthur Blank, one of the founders of The Home Depot and the current owner of the Atlanta Falcons and Atlanta United professional sports teams. The Arthur M. Blank Family Foundation made a $200 million donation to help fund the cost of the new hospital. The property also offers amenities for patients and their families, such as lounges, libraries, child life activity rooms, a business center and laundry facilities and kitchenettes on every floor. The building cafeteria, dubbed The Eatery, will provide patient …
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BAYTOWN, TEXAS, BRASELTON, GA., AND MIAMI — Northwood Investors has acquired a $160 million industrial portfolio located in Georgia, Florida and Texas. Totaling 1.8 million square feet, the “Sunbelt Logistics Distribution Portfolio” was fully leased at the time of sale. The portfolio comprises three industrial buildings: Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 N.W. 15th Terrace in Miami. Britton Burdette, Trent Agnew and Luis Castillo of JLL represented the undisclosed seller in the sale. Bobby Norwood of JLL secured acquisition financing through affiliates of Apollo on behalf of Northwood Investors.
PORTLAND, TENN. — JLL Capital Markets has brokered the sale of Portland Shoals Manufacturing Facility, a 638,330-square-foot industrial development located at 1500 Shoals Way in Portland, roughly 40 miles northeast of Nashville. Al. Neyer, which developed the property, was the seller. EQT Exeter Real Estate Income Trust (EQRT) acquired the development for an undisclosed price. Shoals Technologies Group fully occupies the property, which features 40-foot clear heights, 107 dock positions, four drive-in doors, 185-foot truck court depths and auto and trailer parking. JLL represented Al. Neyer in the transaction.
SAVANNAH, GA. — Three tenants have signed leases at Phase I of Logistics 16 at Ottawa Farms, an industrial campus currently underway in Savannah. The new leases bring the campus, which currently totals 1 million square feet, to well above 50 percent preleased. Linemart Inc., Homylink Furniture Inc. and BFG Supply will occupy 232,000; 309,000; and 153,000 square feet at the development, respectively. Construction on the project began in the third quarter of 2022. Ryan Hoyt, Bennett Rudder, Chris Tomasulo and Lindsey Wilmot of JLL manage leasing on behalf of the landlord, McCraney Property Co.
CHARLOTTE, N.C. — Legacy Realty Group Advisors has arranged the sale of Catawba Village, a 56,840-square-foot shopping center located in Charlotte. Food Lion anchors the property. Jacob Baruch of Legacy represented both the buyer and seller. Both parties requested anonymity.
DAVENPORT, FLA. — Taylor McMinn Retail Group of Marcus & Millichap has negotiated the sale of a new construction, single-tenant retail property located in Davenport, roughly 30 miles southwest of Orlando. Tires Plus occupies the building, which totals 6,262 square feet, on a 15-year lease corporately guaranteed by Bridgestone. Don McMinn of the Taylor McMinn Retail Group arranged the transaction between the seller, a developer, and the buyer, a local 1031-exchange investor. “This our 16th Firestone closing, and we are marketing four more in Florida, North Carolina, South Carolina and Virginia,” says McMinn. “Due to the strong credit, quality of the locations and limited inventory, we continue to see high demand and low cap rates for Bridgestones.”
SARASOTA, FLA. — Aztec Group has arranged a $54.5 million bridge loan for Alloro at University Groves, a seniors housing community located in Sarasota. An affiliate of United Group of Cos. is the borrower, and Mortgage REIT provided the debt. Developed in 2023, Alloro at University Groves features 183 units for residents aged 55 and older. Amenities at the community include a 12,587-square-foot clubhouse, fitness center, yoga room, salon, movie theater, pickleball and bocce courts, a spa, community garden, dog park and onsite dining facilities.
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.
FORT MYERS, FLA. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot shopping center located in Fort Myers. Grocer Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach.
GASTONIA, N.C. — Gindi Equities has sold Greenview Meadows, a 109-unit multifamily community located in Gastonia, roughly 20 miles west of Charlotte. Gindi, which acquired the property for $10 million in February 2021, sold the community to an undisclosed buyer for $14.5 million. Located at 1613 Greenview Drive, the development features apartments in two- and three-bedroom layouts. Amenities at the community include a pet park, playground, picnic areas and a pool with a newly renovated deck.