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Preview: Atlanta Commercial Real Estate News From CoStar Group

Atlanta Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


101 Marietta Lands International Digital Security Firm

Tue, 13 Feb 2018 03:13:32 GMT

On the day city leaders and developers feted Midtown Atlanta, Downtown quietly scored a major coup and lured away a digital security company. The Dilweg Cos., owner of 101 Marietta, confirmed that NAGRA, a Kudelski Group company and the world's leading independent digital security and content protection firm, will move to the Downtown office tower in April. NAGRA, which signed a six-year lease, will relocate from 938 Peachtree St. in Midtown -...

Hometown Investor Will Pay $107 Million for Alpharetta Office Portfolio

Tue, 06 Feb 2018 08:30:44 GMT

It's not quite a royal flush, but the pending sale of three of the four Royal Centre buildings in Alpharetta looks like a winning hand for all players. Bridge Office of Atlanta has contracted to acquire Royal Centre Two, Three and Four for approximately $107 million, or nearly $171 per square foot. The three buildings, owned by New York Life Insurance Real Estate Investors and Durham, NC-based Dilweg Cos., comprise a total of 626,506 square feet...

With Bond Resolution Approved, Pullman Yard Project Expected to Begin This Summer

Thu, 15 Feb 2018 05:27:39 GMT

Atlanta Mayor Keisha Lance Bottoms listens as Invest Atlanta board members discuss a bond resolution to help finance the Pullman Yard redevelopment. Credit: Tony Wilbert The Hollywood producer planning to convert a vacant Atlanta railyard to a $125 million "creative city" is ready to roll after securing bond financing. Atomic Entertainment Development will start construction on its mixed-use development at Pullman Yard this summer, principal...

Invest Atlanta Poised to Approve $97 Million in Bonds for Film District

Wed, 14 Feb 2018 06:45:21 GMT

The long-abandoned Pullman Yard train maintenance facility is one of the largest potential redevelopment sites in the Atlanta metro. Credit: CoStar The city of Atlanta hopes to capitalize on Hollywood's growing appetite for the Peach State as a filming location and production base. The board of Invest Atlanta, the official economic development authority for the city, is scheduled to vote Thursday on a proposal to issue $97 million in city-backed...

San Francisco's Square Expands at Atlantic Station

Mon, 12 Feb 2018 03:05:18 GMT

Atlantic Station is too hip for Square to leave. The San Francisco-based mobile payment processing company is expanding at the landmark Midtown mixed-use development. Square will move from its current space at 201 17th St. to the adjacent BB&T Tower at 271 17th St. this spring. Square leased 15,795 square feet at the 25-story, 541,870-square-foot BB&T Tower, according to CoStar research. The company will occupy Suite 1820, according to permits...

Caddis' First Fund Adds MOBs in Atlanta, Houston, Dallas

Fri, 09 Feb 2018 03:24:11 GMT

Pictured: Brookhaven Medical Center in Atlanta.Fresh off closing its first investment fund, a national healthcare real estate company has acquired medical office buildings (MOBs) in Atlanta, Dallas and Houston. Dallas-based Caddis confirmed today it has acquired Brookhaven Medical Center just north of Atlanta, Prairie View Medical Plaza in the Dallas suburb of Flower Mound, TX, and Atascocita Medical Center in Humble, TX, in metro Houston. The...

Buckhead Medical Office Bldg Sells for $86.5 Million

Thu, 15 Feb 2018 06:08:43 GMT

Piedmont Physicians Plaza Credit: DPR Construction A venture with a minority interest in Piedmont West just added Piedmont Physicians Plaza in south Buckhead to its health-care real estate portfolio. Kayne Anderson Real Estate Advisors (KAREA) and MB Real Estate Healthcare (MBRE Healthcare) of Chicago paid $86.5 million for the medical office building on Piedmont Healthcare’s Buckhead campus. DPR Construction built the five-story, 125,000-square...

Brennan/Arch Street Acquire BlueLinx Distribution Centers in $110 Million Sale/Leaseback Deal

Tue, 13 Feb 2018 09:18:40 GMT

Brennan Investment Group and Arch Street Capital are betting big on BlueLinx. The Chicago-based investment joint venture said this week it acquired four warehouse-distribution buildings totaling 2.3 million square feet from Atlanta-based BlueLinx Corp. for an aggregate price of $110 million, or nearly $48 a foot, for the properties. BlueLinx then leased back the four buildings under 15-year terms with multiple renewal options, according to a filing...

Private Real Estate Investment Shop Snags Alpharetta Apts.

Mon, 12 Feb 2018 09:20:30 GMT

Pollack Shores has scored again. The Atlanta multifamily investor and developer just sold Echo at North Point Center, a 111-unit apartment community at 10105 Westside Pky. near North Point Mall in Alpharetta. The buyer, private real estate investment firm The Shoptaw Group, paid $26.1 million, or $235,135 per unit, for the community. Pollack Shores completed Echo in 2017. The firm, which recently promoted Steven Shores to CEO as part of a planned...

Bridge Acquires 350-Unit Legacy Key in Sandy Springs

Thu, 08 Feb 2018 07:56:24 GMT

Bridge Investment Group Partners LLC, a Sandy, UT-based real estate investment and property management firm that manages $8.85 billion in assets, acquired the 350-unit Legacy Key multifamily community at 8800 Dunwoody Pl. in Sandy Springs, GA from Investors Management Group for an undisclosed price. The 334,600-square-foot apartment complex was originally built in 1979 and recently underwent a $2.14 million renovation. Legacy Key, which spans 25...

New York Investor Pays $72.3 Million for Decatur Apts.

Thu, 08 Feb 2018 04:12:20 GMT

Gamma Real Estate added another Atlanta-area apartment community to its growing collection in the Southeast. The Manhattan-based investor late last month acquired the 386-unit Highland Lake Apts. in Atlanta's Decatur/North Druid Hills multifamily submarket. Gamma paid $72.25 million, or $187,176 per unit, for the community. The seller was Fairfield Residential of San Diego, which acquired the asset in December 2012 for $51.9 million. Gamma...

Savills Studley Makes Key Hires

Thu, 08 Feb 2018 03:16:58 GMT

Savills Studley has strengthened its Atlanta office with the addition of two industry veterans with a combined 45 years of experience. The first, Nanci Love (pictured left), joins Savills Studley as a managing director in the firm's project management group. Love has 25 years of experience in corporate architecture, design and construction management. She previously worked as a senior project manager at Colliers International Atlanta. The second...

Arby’s Signs Meaty HQ Deal with Columbia Property Trust

Wed, 07 Feb 2018 10:33:17 GMT

Columbia Property Trust must feel like running to the roof of its Three Glenlake office tower and yelling, “We have the meats!” And the Buffalo Wild Wings, too. The Atlanta-based REIT said late Wednesday it signed Arby’s Restaurant Group to a 12-year, 161,000-square-foot lease at its Three Glenlake office tower in the Central Perimeter submarket. The building is currently 100 percent leased to Newell Brands, but Columbia said the consumer and...

Morgan Stanley, Lincoln Land Large Tenant at Atlanta Distribution Center

Wed, 07 Feb 2018 06:59:37 GMT

A shipping company with major operations in Atlanta and Los Angeles has leased an entire new spec industrial building in Fulton County. Future Forwarding Co. leased the 362,880-square-foot Flat Shoals 85 Distribution Center at 6180 Buffington Rd. at the Flat Shoals/I-85 interchange. The company plans this month to take occupancy of the building, completed in December 2017. Lincoln Property Co. Southeast developed the industrial building in concert...

Apple Hospitality REIT Lands Pair of Hampton Inn & Suites' in $63 Million Deal

Wed, 07 Feb 2018 02:30:01 GMT

Apple Hospitality REIT (NYSE: APLE) expanded its Southern holdings with the purchase of a pair of Hampton Inn & Suites by Hilton hotels in Atlanta and Memphis, TN from Watermark Capital Partners (NYSE: WPC) for $63 million, or about $240,000 per key. Completed in 1937, the 119-room, eight-story Hampton Inn & Suites by Hilton Atlanta-Downtown is located at 161 Spring St. NW across from the Westin-Peachtree Plaza and near the Georgia Dome, Georgia...

Tenant Rep Broker Dutson Moves to JLL

Tue, 06 Feb 2018 08:28:19 GMT

Brent Dutson just joined JLL in Atlanta, where he will serve as a senior vice president in its tenant representation group. Dutson, who comes to JLL from CBRE, will provide consulting, planning and real estate solutions to the real estate firm's clients. He reports to JLL International Director Rob Metcalf. "Dutson's 16 years of experience and unique position of having worked for and understanding of the tenant and ownership side of the business...

Atlanta Gains Favor With Florida Pension Fund

Tue, 06 Feb 2018 02:47:47 GMT

Atlanta finally beat New England at something. The capital of the South just leapfrogged Boston on the Top 10 list of largest investment markets of one of the largest public retirement funds in the country. It's not exactly like the Atlanta Falcons beating the New England Patriots in last year's Super Bowl, but it is a key show of investor confidence in Atlanta's commercial real estate market. Atlanta now ranks No. 5 on the State Board of Administration...