Southeast Real Estate Business

OCT 2016

Southeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Southeast United States.

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Page 14 of 56

14 • October 2016 • Southeast Real Estate Business G E O R G I A MILESTONE APARTMENTS REIT TO BUY COMMUNITY IN WOODSTOCK FOR $47 MILLION WOODSTOCK, GA. — Milestone Apartments REIT has agreed to pur- chase Park 9 Apartments, a 275-unit, Class A apartment community located on Ridgewalk Parkway in Woodstock, a northwest suburb of Atlanta. The property is situated near The Outlet Shoppes at Atlanta and I-575. The un- disclosed seller has agreed to sell Park 9 to Milestone for $47 million. Built in 2016, Park 9 is currently 95 percent oc- cupied with average monthly rents of approximately $1,200. The community features 9-foot ceilings, stainless steel appliances, granite countertops and direct-access garages. Amenities in- clude a clubhouse with a cyber café, a saltwater swimming pool with beach entry and resort-style cabanas, fitness center, outdoor grilling area, bocce ball court, dog park, storage units and elec- tric vehicle charging stations. NCR TO EXPAND UPCOMING HEADQUARTERS CAMPUS IN MIDTOWN ATLANTA WITH $145 MILLION TOWER ATLANTA — NCR Corp., a global finance technology firm, plans to ex- pand its new world headquarters campus currently under construction in Midtown Atlanta. The $145 million expansion will add a 14-story tower, which will be connected to a 20-story office tower that is set to open in the first quarter of 2018. The second tower is scheduled to be ready for occupan- cy in the first quarter of 2019. Current- ly headquartered in Duluth, Ga., NCR will bring more than 1,800 employees to the headquarters campus, which will feature amenities such as eater- ies with outdoor seating, a coffee bar, gym, informal gathering places and a large lecture space. NCR and Cous- ins Properties entered into a long- term, build-to-suit lease for the sec- ond tower, which will be owned and developed by Cousins, as is the first tower. NCR, the Georgia Department of Economic Development and Invest Atlanta have agreed on additional in- centives for the new tower. BRASFIELD & GORRIE COMPLETES HIGH-RISE APARTMENT TOWER IN MIDTOWN ATLANTA ATLANTA — Brasfield & Gorrie has completed the construction of Sixty 11th, a 20-story high-rise apartment tower located on the corner of 11th Street and Crescent Avenue in Mid- town Atlanta. The 320-unit property is the fourth phase of 12th and Midtown, a master-planned, mixed-use devel- opment owned by a joint venture be- tween Daniel Corp., Selig Enterprises and MetLife. Sixty 11th features a five- level parking deck, 28,000-square-foot elevated amenity and pool deck and 17,000 square feet of ground-level re- tail space. Architect Rule Joy Tram- mel + Rubio designed the property to achieve LEED certification. DOLLAR GENERAL BREAKS GROUND ON 1 MILLION SF DISTRIBUTION CENTER JACKSON, GA. — Construction is un- derway on Dollar General's 15th dis- tribution center in the United States in Jackson, which straddles both Butts and Spalding counties. The 1 million- square-foot industrial facility is ex- pected to create more than 500 new jobs at full capacity and to be opera- tional by fall 2017. Dollar General has more than 13,000 retail locations and 119,000 employees, with more than 700 stores and over 5,000 employ- ees in Georgia. The new distribution center is expected to serve more than 1,000 stores in the Southeast. Dollar General's 14 other distribution cen- ters are located in Alabama, Califor- nia, Florida, Indiana, Kentucky, Mis- sissippi, Missouri, Ohio, Oklahoma, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin. MILL CREEK RESIDENTIAL TO DEVELOP HIGH-RISE APARTMENTS IN BUCKHEAD ATLANTA — Mill Creek Residen- tial plans to develop Modera by Mill Creek – Buckhead, a 21-story mul- tifamily high-rise located at 3005 Peachtree Road N.E. in Atlanta's Buckhead district. Situated at the corner of Peachtree and Pharr roads adjacent to Buckhead Atlanta, the community will feature 400 luxury apartment homes and more than 21,000 square feet of high-end retail space. Mill Creek is developing the property in a joint venture with Elite International Investment Fund, a real estate investment platform backed by Asian capital. Community ameni- ties will include two outdoor terraces with swimming pools, a rooftop ter- race, rooftop dog park, destination sky bar, demonstration kitchen, in- door spa, steam room, yoga studio, juice bar, fitness center and an open- air social lounge. Mill Creek expects pre-leasing and initial move-ins at the high-rise for summer 2018. GEORGIA RETAIL PROPERTIES AVAILABLE FOR SALE OR LEASE Alpharetta, GA For Lease - Building - 15,352 SF Duke Sullivan: Canton, GA For Sale - Carve-Out – Land - 1± ac Keith Valentine: Cartersville, GA For Sale - Carve-Out – Land - 1± ac Keith Valentine: Commerce, GA For Sale - Land - 1.4 ac - 1.5 ac Will Cobb: Cordele, GA For Sale - Land - 1.61 ac - 2.64 ac George Eichler: Decatur, GA For Sale - Land - 2.4 ac - 1.8 ac Keith Valentine: Hartwell, GA For Sale - Land - .94 ac Will Cobb: Holly Springs, GA For Sale - Land - 8.4 ac (6.6 ac useable) - 1.08 ac Keith Valentine: Kennesaw, GA For Sale - Land - 4.1 ac Toby Vondesaar: Lovejoy, GA For Sale - Land - 4.9 ac (2.8 ac useable) Toby Vondesaar: Lovejoy, GA For Sale - Carve-Out – Land - 1± ac Keith Valentine: Macon, GA For Lease - Building - 104,673 SF Building George Eichler: Monroe, GA For Sale - Land - 9.68 ac Will Cobb: Moultrie, GA For Sale - Land - 0.8 ac George Eichler: Norcross, GA For Sale - Carve-Out – Land - 0.72± ac Keith Valentine: Pooler, GA For Sale - Carve-Out – Land - 39,153 SF Duke Sullivan: Riverdale, GA For Sale - Carve-Out – Land - 0.8± ac Keith Valentine: Roswell, GA For Sale - Carve Out – Land - 1± ac Duke Sullivan: Toccoa, GA For Sale - Land - 1 ac - 1.99 ac Will Cobb: For more information, please contact: Keith Valentine u 678-718-1882 u u 678-718-1884 u CPD offices: Atlanta . Tampa . Greater Los Angeles Sixty 11th in Midtown Atlanta features a five-level parking deck, 28,000-square-foot elevated amenity and pool deck and 17,000 square feet of ground-level retail space.

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