Atlanta
Host Hotels & Resorts Sells Atlanta’s Largest Hotel for Reported $293M
Host Hotels & Resorts has sold the 1,663-room Atlanta Marriott Marquis to an undisclosed buyer for a reported $293 million.
Undisclosed Buyer Pays $293M for Metro Atlanta’s Largest Hotel
The 1,663-room Atlanta Marriot Marquis has recently traded owners, but no investor has yet claimed responsibility for the $293 million acquisition. Seller Host Hotels & Resorts announced that the sale went through on January 11, but has been reluctant to provide extra information.
Wells Core REIT Acquires 584 KSF Office Center in Atlanta
Wells Core Office Income REIT has acquired a two-building office and data center in the Central Perimeter submarket of Atlanta from Rubenstein Partners for $119 million. It was Atlanta’s biggest lease of 2012.
Retrofitted Kennesaw Facility to Serve as Novelis’ New Global R&D Center
Rolled aluminum and aluminum can recycling giant Novelis prides itself with a new 160,000-square-foot Global Research & Technology Center in Kennesaw. The facility, located merely 25 miles from the company’s corporate headquarters in Atlanta, previously served as office and warehouse space for a chemical manufacturer.
Crescent Ready to Kick-Start $67M Luxury Development in Buckhead
Following the purchase of a three-acre site within Cousins Properties’ Terminus development, Crescent Resources, LLC is now set to begin construction on the $67 million Circle Terminus community.
“This site has all the ingredients for a very successful luxury apartment community,” said Ben Collins, regional director for Crescent Resources.
RADCO Cos. Purchases Seven Georgia-Based M-F Properties in Two Weeks
The RADCO Cos. spent a total of $56 million on seven multi-family communities in Georgia in the closing days of 2012, adding 3,000 units to its portfolio.
CNL Affiliates Seek to Invest in Metro Atlanta Senior Housing
Two different branches of CNL Financial Group have shown interest in senior housing development in the Atlanta metro area. CNL Healthcare Trust plans on investing $21 million in the development of Dogwood Forest of Acworth, a senior housing community planned for Acworth, Ga., about 30 miles northwest of Atlanta.
Dual-Branded Hilton Opens in Midtown; Imperial Hotel Renovation Eyes LEED Gold Certification
Midtown Atlanta is now home to Georgia’s first dual-branded hotel, as Hilton Worldwide has recently celebrated the opening of its newest hotel, Hilton Garden Inn® and Homewood Suites by Hilton.
Parkway Announces Shopping Spree, Eyes Atlanta’s Tower Place 200
Parkway Properties, Inc. will soon own three towers clustered together at Peachtree and Tower Place, as the company has announced entering into a purchase and sale agreement to buy the Tower Place 200 office building for $56 million. Continue reading →
ADT Moves to Camp Creek Business Center; Brennan Investment Group Buys Ball Ground Industrial Facility
ADT Security Services—a provider of electronic security and monitoring systems—will soon move into Duke Realty’s 17-building Camp Creek Business Center located in the Atlanta Airport submarket. ADT recently signed a lease for 58,080 square feet that it plans on occupying in the first quarter of 2013.