ATLANTA—A survey of corporate real estate executives at large corporations conducted by CoreNet Global and CBRE Group found that when a company focuses on employee health and wellness, workers report increases in engagement, retention rates increase, and absenteeism declines. The survey saw responses from 211 senior level executives in the corporate real estate profession: 66 percent were corporate real estate end-users (occupiers), 25 percent were in technology firms, and 23 percent were in financial services firms. Eighty-nine percent of the firms represented in the survey reported that they are focused on health and wellness initiatives. “Corporations that take an active role in managing health and wellness programs for employees are seeing positive returns on those investments,” says Tim Venable, senior vice president at CoreNet Global. ”As the line between work and personal life is increasingly blurred due to technology, remote work and 24/7 access to information, employers are taking measures to ensure employee health and wellness.”

DEAL TRACKER

MONTGOMERY, AL—Marcus & Millichap brokered the sale of Montgomery Alabama Portfolio, a 178,680-net-square-rentable self-storage portfolio located in Montgomery. Michael A. Mele, Eddie Greenhalgh and Preston Cooper, investment specialists in Marcus & Millichap's Tampa and Birmingham offices, represented the seller, a limited liability company. Greenhalgh, Cooper, Mele and Sean M. Delaney represented the buyer. “We were able to secure nine 'qualified' offers on this Montgomery portfolio from both institutional and private investors,” says Greenhalgh. “The buyers were drawn to the assets based on in-place returns, upside potential and immediate market positioning.”

TUSCALOOSA, AL—Colliers International has brokered the sale of The Radiology Clinic building, a 39,500-square-foot single-tenant medical office center located at 208 McFarland Circle North in Tuscaloosa. Inland Real Estate purchased the medical office from Radiology Group Realty, for $13.5 million. Josh Randolph of Colliers International | Alabama represented the seller in the transaction.

HUNTSVILLE, AL—Berkadia negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 376 multifamily units for $9.925 million, or $26,396 per unit. Managing director David Oakley, senior directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC. Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985. The buyer, McCreary Realty Management, Inc. based in Marietta, Ga., has plans for exterior and interior renovations.

CHATTANOOGA, TN—Berkadia recently negotiated the sale of Ledford Apartments, a 121-unit multifamily community at 1701 North Concord Road. in Chattanooga for $8.5 million, or $70,247 per unit. Director Marcus Lyons with the Chattanooga office of Berkadia Real Estate Advisors, represented the Detroit-based seller, Broder & Sachse Real Estate Services, and sold the community to Aerial and Above Holdings of San Diego, Calif. Ledford was built in 1985 and is located adjacent to Hamilton Place Mall in the sub-market of East Brainerd.

BUILDING BLOCKS

ATLANTA—Lincoln Property Company Southeast broke ground on a 362,880-square-foot spec industrial warehouse/distribution center located at 6180 Buffington Road, just off the intersection of Flat Shoals Road and I-85 in south Atlanta. Lincoln identified and contracted for the 56-acre site, took it through the entitlement process, and represented the institutional owner, an affiliate of Morgan Stanley Real Estate Investing. Lincoln will execute the development as well as manage and lease the project upon completion. “This is an excellent opportunity to capitalize on the groundswell of e-commerce activity as well as the general warehouse and distribution needs of companies seeking industrial space in what has become Atlanta's hottest submarket, no I-85 South,” says Tony Bartlett, Lincoln's senior vice president.

A wellness report is shining light on worker engagement this week even as the fourth quarter numbers on Atlanta's office market roll in. Again this week, we saw more deal flow in Alabama and plenty of action in Georgia.

BY THE NUMBERS

Healthy tenant demand and strong property operations motivate investors in Atlanta. Transaction volume has risen steadily year over year as both local and out-of-state buyers snatch up available assets. The area's higher returns of up to 150 basis points above gateway cities attract investors primarily from New York, California and Florida. Newer class A properties near employment centers, including Downtown and Midtown, along with those located near major transportation routes, are highly sought after. These assets typically trade with cap rates in the low- to mid-5% area. (Source: Marcus & Millichap)

NEWS & NOTABLES

ATLANTA—A survey of corporate real estate executives at large corporations conducted by CoreNet Global and CBRE Group found that when a company focuses on employee health and wellness, workers report increases in engagement, retention rates increase, and absenteeism declines. The survey saw responses from 211 senior level executives in the corporate real estate profession: 66 percent were corporate real estate end-users (occupiers), 25 percent were in technology firms, and 23 percent were in financial services firms. Eighty-nine percent of the firms represented in the survey reported that they are focused on health and wellness initiatives. “Corporations that take an active role in managing health and wellness programs for employees are seeing positive returns on those investments,” says Tim Venable, senior vice president at CoreNet Global. ”As the line between work and personal life is increasingly blurred due to technology, remote work and 24/7 access to information, employers are taking measures to ensure employee health and wellness.”

DEAL TRACKER

MONTGOMERY, AL—Marcus & Millichap brokered the sale of Montgomery Alabama Portfolio, a 178,680-net-square-rentable self-storage portfolio located in Montgomery. Michael A. Mele, Eddie Greenhalgh and Preston Cooper, investment specialists in Marcus & Millichap's Tampa and Birmingham offices, represented the seller, a limited liability company. Greenhalgh, Cooper, Mele and Sean M. Delaney represented the buyer. “We were able to secure nine 'qualified' offers on this Montgomery portfolio from both institutional and private investors,” says Greenhalgh. “The buyers were drawn to the assets based on in-place returns, upside potential and immediate market positioning.”

TUSCALOOSA, AL—Colliers International has brokered the sale of The Radiology Clinic building, a 39,500-square-foot single-tenant medical office center located at 208 McFarland Circle North in Tuscaloosa. Inland Real Estate purchased the medical office from Radiology Group Realty, for $13.5 million. Josh Randolph of Colliers International | Alabama represented the seller in the transaction.

HUNTSVILLE, AL—Berkadia negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 376 multifamily units for $9.925 million, or $26,396 per unit. Managing director David Oakley, senior directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC. Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985. The buyer, McCreary Realty Management, Inc. based in Marietta, Ga., has plans for exterior and interior renovations.

CHATTANOOGA, TN—Berkadia recently negotiated the sale of Ledford Apartments, a 121-unit multifamily community at 1701 North Concord Road. in Chattanooga for $8.5 million, or $70,247 per unit. Director Marcus Lyons with the Chattanooga office of Berkadia Real Estate Advisors, represented the Detroit-based seller, Broder & Sachse Real Estate Services, and sold the community to Aerial and Above Holdings of San Diego, Calif. Ledford was built in 1985 and is located adjacent to Hamilton Place Mall in the sub-market of East Brainerd.

BUILDING BLOCKS

ATLANTA—Lincoln Property Company Southeast broke ground on a 362,880-square-foot spec industrial warehouse/distribution center located at 6180 Buffington Road, just off the intersection of Flat Shoals Road and I-85 in south Atlanta. Lincoln identified and contracted for the 56-acre site, took it through the entitlement process, and represented the institutional owner, an affiliate of Morgan Stanley Real Estate Investing. Lincoln will execute the development as well as manage and lease the project upon completion. “This is an excellent opportunity to capitalize on the groundswell of e-commerce activity as well as the general warehouse and distribution needs of companies seeking industrial space in what has become Atlanta's hottest submarket, no I-85 South,” says Tony Bartlett, Lincoln's senior vice president.