ATLANTA—Crescent Communities added Kyle Brock as managing director overseeing development for the Atlanta market. Previously, he led multifamily development in Atlanta and Tampa for Carter. Prior to his tenure with Carter, Brock spent nine years at Novare Group. As senior vice president of Finance, Brock led development and financing efforts on several condominium and high-rise rental developments across the Southeast and Texas. He launched his career at Prudential Capital Group after graduating from the University of Georgia and possesses a Chartered Financial Analyst (CFA) certification.

DEAL TRACKER

DULUTH, GA—Avison Young has been retained as the exclusive advisor in the sale of a class A office park in a highly coveted location outside of Atlanta. The office complex at 3100 Breckinridge Boulevard in Duluth is made up of six single-story buildings and a 75,000-square-foot three-story executive building. The property totals 253,307 rentable square feet on nearly 30 acres. Matt Tritschler and Steve Morgan, principals at Avison Young, along with Stephanie Marino, senior vice president of the firm, are overseeing the sale. The office park is 70% leased, with IBM occupying 50,000 square feet as the largest tenant.

ATLANTA—CiTYR acquired LaVista Crossing Apartments, a 240-unit garden style multifamily community. Located in the Tucker submarket just north of the perimeter in the Atlanta metro area, for an undisclosed purchase price. CiTYR is bullish on the Atlanta MSA. In mid-2016, the firm acquired Amber Place Apartments, a 392-unit class A property in Warner Robbins. The firm is in advanced negotiations on several other Atlanta-area properties.

LULING, LA—Monsanto will make a $975 million capital investment at a site in Luling, with new production technology that supports the launch of its Roundup Ready Xtend Crop System. After completion in 2019, the Louisiana expansion project will create 95 new direct jobs averaging $76,500 per year, plus benefits, and 20 new contractor jobs. The company will retain 645 existing company jobs in Luling, and LED estimates the project will result in another 450 new indirect jobs, for a total of more than 540 new permanent jobs in Louisiana. Monsanto estimates the project will generate 1,000 construction jobs at peak building activity.

BUILDING BLOCKS

ATLANTA—Pollack Shores is opening the three multifamily communities that make up “Home at The Battery Atlanta” Residences, Parkside and Flats, this April, May and July, respectively. The luxury apartments anchoring SunTrust Park have begun leasing and are already experiencing great success at price points ranging from $1,225 to $4,305. The Battery Atlanta features an Omni Hotel, The Coca-Cola Roxy Theatre, a variety of chef-driven restaurants and more than 700,000 square feet of retail and office space. In addition, The Battery Atlanta will be home to One Ballpark Center, Comcast's regional office headquarters housing its Innovation Lab.

SOMERVILLE, TN—Fourmidable opened Turnrow, its newest community in Somerville. Turnrow is being developed in cooperation with the Tennessee Housing Development Agency under the Low-Income Housing Tax Credit program. Fourmidable manages a total of 87 communities in 10 states. Turnrow offers residents 56 one, two and three bedroom homes. The newly constructed, energy efficient community features fully equipped kitchens with dishwasher, and in-unit washer and dryer.

Early this week in the Southeast, Georgia is leading the deal flow but Louisiana has a mammoth deal to report. At the same time, executive musical chairs is still underway.

BY THE NUMBERS

As tenants across the region continue to face challenging conditions, landlords remain bullish. Companies requiring quality space options in excess of 25,000 square feet have limited options, particularly in Buckhead and Midtown. Rental rate growth is slowing, but tenants who last negotiated a lease five or 10 years ago are running into a much different market than they are accustomed to—landlords are standing their ground on asking rents and a few are pulling back on concessions. These trends are expected to prevail in 2017 as well. (Source: Savills Studley)

NEWS & NOTBLES

ATLANTA—Crescent Communities added Kyle Brock as managing director overseeing development for the Atlanta market. Previously, he led multifamily development in Atlanta and Tampa for Carter. Prior to his tenure with Carter, Brock spent nine years at Novare Group. As senior vice president of Finance, Brock led development and financing efforts on several condominium and high-rise rental developments across the Southeast and Texas. He launched his career at Prudential Capital Group after graduating from the University of Georgia and possesses a Chartered Financial Analyst (CFA) certification.

DEAL TRACKER

DULUTH, GA—Avison Young has been retained as the exclusive advisor in the sale of a class A office park in a highly coveted location outside of Atlanta. The office complex at 3100 Breckinridge Boulevard in Duluth is made up of six single-story buildings and a 75,000-square-foot three-story executive building. The property totals 253,307 rentable square feet on nearly 30 acres. Matt Tritschler and Steve Morgan, principals at Avison Young, along with Stephanie Marino, senior vice president of the firm, are overseeing the sale. The office park is 70% leased, with IBM occupying 50,000 square feet as the largest tenant.

ATLANTA—CiTYR acquired LaVista Crossing Apartments, a 240-unit garden style multifamily community. Located in the Tucker submarket just north of the perimeter in the Atlanta metro area, for an undisclosed purchase price. CiTYR is bullish on the Atlanta MSA. In mid-2016, the firm acquired Amber Place Apartments, a 392-unit class A property in Warner Robbins. The firm is in advanced negotiations on several other Atlanta-area properties.

LULING, LA—Monsanto will make a $975 million capital investment at a site in Luling, with new production technology that supports the launch of its Roundup Ready Xtend Crop System. After completion in 2019, the Louisiana expansion project will create 95 new direct jobs averaging $76,500 per year, plus benefits, and 20 new contractor jobs. The company will retain 645 existing company jobs in Luling, and LED estimates the project will result in another 450 new indirect jobs, for a total of more than 540 new permanent jobs in Louisiana. Monsanto estimates the project will generate 1,000 construction jobs at peak building activity.

BUILDING BLOCKS

ATLANTA—Pollack Shores is opening the three multifamily communities that make up “Home at The Battery Atlanta” Residences, Parkside and Flats, this April, May and July, respectively. The luxury apartments anchoring SunTrust Park have begun leasing and are already experiencing great success at price points ranging from $1,225 to $4,305. The Battery Atlanta features an Omni Hotel, The Coca-Cola Roxy Theatre, a variety of chef-driven restaurants and more than 700,000 square feet of retail and office space. In addition, The Battery Atlanta will be home to One Ballpark Center, Comcast's regional office headquarters housing its Innovation Lab.

SOMERVILLE, TN—Fourmidable opened Turnrow, its newest community in Somerville. Turnrow is being developed in cooperation with the Tennessee Housing Development Agency under the Low-Income Housing Tax Credit program. Fourmidable manages a total of 87 communities in 10 states. Turnrow offers residents 56 one, two and three bedroom homes. The newly constructed, energy efficient community features fully equipped kitchens with dishwasher, and in-unit washer and dryer.