Atlanta
Buckhead Exchange Redevelopment to Start Soon
A large-scale redevelopment project will transform the Buckhead Exchange shopping center– FCA Partners has recently announced its plans. The Charlotte, NC-based employee-owned real estate investment management company acquired the 48,500 square foot retail center in 2013 for $15.2 million from Principal Financial.
Crescent Howell Mill Completed and Sold as Part of $700M Portfolio
Crescent Communities has completed construction and closed on the sale of Crescent Howell Mill. The 256-unit luxury apartment community in Atlanta was sold to affiliates of Boston-based Berkshire Group. The project is the only residential component of Howell Mill, an 8-acre mixed-use development featuring shops and boutique restaurants with garden courtyards.
Hartsfield–Jackson Area Warehouse Reaches Full Occupancy
Two new tenants have signed leases at the 278,000 square foot industrial building under 2000 Southpoint Drive in Atlanta, Liberty Property Trust announced in a press release issued in early May. UPS Supply Chain Solutions, Inc. and Southwest Surplus, Inc. occupied a total of 80,000 square feet. Liberty Property Trust owns the asset and the company was represented by Jones Lang LaSalle’s team of Vice President Rodney Davidson and Associate Reed Davis in both transactions. The two deals brought the building to 100% occupancy.
New Dual-Branded Hotel Acquired by Carey Watermark Investors
The newly built Hilton Garden Inn and Homewood Suites in Midtown Atlanta was picked up recently by Carey Watermark Investors Inc., as announced by the buyer. The publicly registered REIT’s portfolio of lodging and lodging-related assets is managed by affiliates of W. P. Carey Inc. and Watermark Capital Partners. The select-service and extended-stay property includes a total of 228 guestrooms; the acquisition price was not disclosed.
Hotel to Rise Near Braves’ New Ballpark
Omni Hotels & Resorts will develop a hotel in the mixed-use development adjacent to the new ballpark where the Atlanta Braves will move in 2017.
Concourse Corporate Center Picked Up by Stamford-Based Investor
The landmark Concourse Corporate Center was recently acquired by Building and Land Technology, the Stamford, Connecticut-based company announced. The property is located at Interstate 285 and Georgia State Route 400 in Atlanta’s Perimeter submarket, in close proximity to several MARTA stations.
Two Suburban Atlanta Apartment Communities Change Hands for $22M
Dallas-based The Milestone Group recently sold two Atlanta-area communities called Villas at Indian Trail and Shannon Chase to separate investors for the total amount of $22 million, ARA Newmark announced.
Second Value Place Extended-Stay in Atlanta Opened
Value Place announced the grand opening of its second location in the greater-Atlanta metro area. The newly constructed 124-room extended-stay hotel is located at 2877 Dresden Drive in the Chamblee submarket; the event was held on Wednesday, April 1. This is the brand’s ninth facility in Georgia.
New Hospital Opens in South Hall County
Northeast Georgia Health System announced the opening of a brand new South Hall County hospital. The 100-bed facility is located at 1400 River Place in Braselton, about 40 miles northeast of Atlanta.
Lawrenceville MF Asset Changes Hands for $58.3M
Madison at River Sound was recently sold to Los Angeles-based Investors Management Group for $58.3 million. The new owner of the community is a private real estate investment firm focusing exclusively on the multifamily sector. Investors Management Group specializes in value-add and opportunistic real estate investments in major metropolitan markets in need of recapitalization, repositioning, or significant renovation.