Wednesday, May 7, 2025
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AcquisitionsIndustrialKentuckySoutheast

NAI Isaac Arranges Sale of 100,000 SF Industrial Facility in Cynthiana, Kentucky

by John Nelson

CYNTHIANA, KY. — NAI Isaac has arranged the sale of a 100,000-square-foot industrial facility located at 736 US Highway 27 in Cynthiana, roughly 30 miles northeast of Lexington. Grand Rapids, Mich.-based Herdegen Commercial Equipment LLC, a liquidator of corporate equipment and other fixed assets, purchased the facility for an undisclosed price. Bruce Isaac of NAI Isaac represented the undisclosed seller in the transaction. According to LoopNet Inc., the facility is a single-tenant building that was delivered on a 7.5-acre site in 1964. The property features 19-foot clear heights, two dock doors and four drive-in doors. The acquisition also includes a separate 7,000-square-foot facility at the site.

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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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Affordable HousingDevelopmentLoansMarylandMultifamilySeniors HousingSoutheast

Enterprise Community Development Secures $116.4M Financing for Three Affordable Housing Properties in Maryland

by John Nelson

BALTIMORE — Enterprise Community Development Inc. has secured $116.4 million in financing for three affordable housing communities in Maryland. The properties include College Parkway Place in Annapolis and The Greens at Irvington Mews II and Park Heights Place, both located in Baltimore. Built in 1978, College Parkway Place features 170 apartments and will undergo extensive renovations to unit interiors. The property will serve households earning 50 percent or less of the area median income (AMI) and all apartments will receive federally funded rental assistance. The rehabilitation financing for College Parkway Place totals $74 million, with financing from the Maryland Department of Housing and Community Development and equity generated through the sale of federal Low Income Housing Tax Credits (LIHTC) and gap financing from the State of Maryland. The Greens at Irvington Mews II is a new construction project that will add 59 apartments for independent seniors, including 47 apartments for residents earning up to 50 percent of AMI and 12 apartments for those earning up to 30 percent AMI. The property, set to come on line in October 2025, represents Phase II of the existing Irvington Mews development. The total development cost for the Greens at Irvington Mews II is approximately …

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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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DevelopmentIndustrialMarylandSoutheast

Baldor Specialty Foods Opens 100,000 SF Warehouse in Lanham, Maryland

by John Nelson

LANHAM, MD. — Baldor Specialty Foods has opened a new 100,000-square-foot warehouse in Lanham, a Maryland suburb of Washington, D.C. The new facility is situated within Hargrove Industrial Campus and features 35 dock doors and refrigeration and frozen storage capabilities. Baldor currently has a staff of 140 employees at the facility, with plans to hire more drivers and warehouse staff. The Lanham facility serves as the fourth hub for the food distributor, joining Baldor’s headquarters in The Bronx and regional hubs in Boston and Philadelphia. The Lanham facility houses more than 7,000 premium and specialty produce, meat, fish, dairy and grocery items.

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AcquisitionsFloridaIndustrialSoutheast

SRS Brokers $15.8M Sale of Industrial Building in Sanford, Florida

by John Nelson

SANFORD, FLA. — SRS Real Estate Partners has brokered the $15.8 million sale of a 109,610-square-foot industrial building located at 2963 Stonewall Place in Sanford, roughly 28 miles north of Orlando. The buyer, Harvest Valley, a leading foodservice distributor specializing in Asian cuisine, plans to convert the property to a cold storage facility to serve its Central Florida clients. Wayne Schuchts, Michael Palmer and Andrew Lehrer of SRS’ industrial team represented Harvest Valley in the sale. The seller was not disclosed. The property was built in 2018 and sits on nine acres.

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AlabamaIndustrialLeasing ActivitySoutheast

Cushman & Wakefield/EGS Arranges 51,750 SF Industrial Lease in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Cushman & Wakefield / EGS Commercial Real Estate has arranged a 51,750-square-foot industrial lease at CenterState Logistics Park One, a newly constructed, 225,000-square-foot warehouse and distribution building located at 225 Daniel Payne Drive in north Birmingham. The tenant is Atlanta-based Conklin Metal Industries, a distributor of sheet metal, HVAC and duct fabrication supplies. The company is expanding its Birmingham footprint to accommodate growth within its manufacturing and distribution operations and is the first tenant to sign on at CenterState Logistics Park One. Mark Byers and Brad Moffatt of Cushman & Wakefield / EGS represented the landlord, an entity doing business as CenterState Logistics Park One LLC, in the lease negotiations. Jack Brown of Graham & Co. represented the tenant.

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AcquisitionsFloridaHospitalitySoutheast

Certares, TMGOC Ventures Acquire The Ray Hotel in South Florida

by John Nelson

DELRAY BEACH, FLA. — A joint venture between Certares and TMGOC Ventures has purchased The Ray Hotel, an upscale, 141-room hotel in Delray Beach, a coastal city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Alexandra Lalos Church, Zak Brodstein and Lauren Habig of Hodges Ward Elliott represented the seller in the transaction. Delivered in September 2021, The Ray is part of Hilton’s Curio Collection of high-end hotels. The property offers amenities including a rooftop restaurant and bar, rooftop pool deck, 1,800-square-foot fitness center and a modern event space. The Ray’s three full-service eateries include restaurants from Michelin-star chef Akira Back and Campi Italian, a concept from New York-based Host Restaurants.

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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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