HUEYTOWN, AL—Tremont Realty Capital structured financing for the acquisition of three contiguous properties in Hueytown by an affiliate of Nodel Parks. The properties include the 32-unit Notting Hill Apartments, the 174-site Saddleridge Manufactured Housing Community and All Seasons Storage, an approximately 12,000 square foot climate-controlled self-storage facility. The combined purchase price for all three assets was $4 million. Tremont recommended Nodel Parks subdivide the original mixed-use property into more financeable single purpose assets and then arranged for the simultaneous closing of two separate loans for the transaction totaling a combined $3.02 million.

ATLANTA—The Corners, a prestigious class A office building located within affluent Peachtree Corners' leading professional sector “Country Club Corridor,” won a 2017 BOMA Georgia International The Outstanding Building of the Year (TOBY) Award. BOMA Georgia International recognized 6525 The Corners for the value that it is bringing to the market. The five-story 97,889-square-feet office building has a new fitness center equipped with WIFI connectivity to a technologically advanced conference center.

LAWRENCEVILLE, GA—SRS' Southeast investment sales team marketed and brokered the sale of Springfield Plaza Shopping Center in Lawrenceville. The property is located at 430 Hurricane Shoals Road Northwest, which is situated on the northeast corner Hurricane Shoals Road Northwet and Maltbie Street Northwest. Springfield Plaza consists of 19,706 square feet on 2.74 acres of land. The seller, Hurricane Shoals Realty Partners, sold the property to a local investor for $2 million. John A. Topping, Jr., senior associate, and Robert Drake, senior analyst, in the SRS Atlanta Office, represented the seller, Hurricane Shoals Realty Partners, in the transaction. The buyer was represented by Victor Suhweil with Klein & Huechan, in the transaction.

BATON ROUGE—Marcus & Millichap brokered the sale of Sunbelt Rentals, a 62,569-square-foot, net leased property in Baton Rouge. Built in 1967 on a 7.52-acre lot, this Sunbelt Rentals location provides ample space for outside storage and accessibility. The property is located off of Florida Boulevard on Wooddale Boulevard. Sunbelt Rentals has occupied this space since 2000. Sunbelt Rentals is one of the largest equipment rental companies in North America with over 550 locations. Sunbelt's extensive fleet exceeds $5 billion and includes general construction equipment, industrial tools, pumps and power generation, and more.

BUILDING BLOCKS

POOLER, GA—Shepherd Health and Cobalt Seniors announce Shepherd Living at Savannah Quarters, an upscale 124-resident community offering spa-like living on roughly 10 acres in Pooler. The joint venture has purchased the property from Southwest Quadrant Development and is developing the community with United Community Bank, architectural firm Erdman, and contractor DeAngelis Diamond. The project will create approximately 200 jobs throughout the construction period and, once completed, approximately 65-plus additional jobs for permanent operations.

Early this week in the Southeast, we're seeing deals in smaller Alabama and Georgia markets. Some properties are winning awards. And a new senior living facility is getting underway.

BY THE NUMBERS

Construction begins this year along Atlanta's northeast perimeter and will include more than 600 multifamily units. Construction crews remain active around the metro, with several multifamily complexes coming online in Midtown and Buckhead. Despite another year of sizable supply growth, healthy tenant demand will tighten the vacancy rate for an eighth consecutive year and raise the average rent to an all-time high in 2017. (Source: Marcus & Millichap)

DEAL TRACKER

HUEYTOWN, AL—Tremont Realty Capital structured financing for the acquisition of three contiguous properties in Hueytown by an affiliate of Nodel Parks. The properties include the 32-unit Notting Hill Apartments, the 174-site Saddleridge Manufactured Housing Community and All Seasons Storage, an approximately 12,000 square foot climate-controlled self-storage facility. The combined purchase price for all three assets was $4 million. Tremont recommended Nodel Parks subdivide the original mixed-use property into more financeable single purpose assets and then arranged for the simultaneous closing of two separate loans for the transaction totaling a combined $3.02 million.

ATLANTA—The Corners, a prestigious class A office building located within affluent Peachtree Corners' leading professional sector “Country Club Corridor,” won a 2017 BOMA Georgia International The Outstanding Building of the Year (TOBY) Award. BOMA Georgia International recognized 6525 The Corners for the value that it is bringing to the market. The five-story 97,889-square-feet office building has a new fitness center equipped with WIFI connectivity to a technologically advanced conference center.

LAWRENCEVILLE, GA—SRS' Southeast investment sales team marketed and brokered the sale of Springfield Plaza Shopping Center in Lawrenceville. The property is located at 430 Hurricane Shoals Road Northwest, which is situated on the northeast corner Hurricane Shoals Road Northwet and Maltbie Street Northwest. Springfield Plaza consists of 19,706 square feet on 2.74 acres of land. The seller, Hurricane Shoals Realty Partners, sold the property to a local investor for $2 million. John A. Topping, Jr., senior associate, and Robert Drake, senior analyst, in the SRS Atlanta Office, represented the seller, Hurricane Shoals Realty Partners, in the transaction. The buyer was represented by Victor Suhweil with Klein & Huechan, in the transaction.

BATON ROUGE—Marcus & Millichap brokered the sale of Sunbelt Rentals, a 62,569-square-foot, net leased property in Baton Rouge. Built in 1967 on a 7.52-acre lot, this Sunbelt Rentals location provides ample space for outside storage and accessibility. The property is located off of Florida Boulevard on Wooddale Boulevard. Sunbelt Rentals has occupied this space since 2000. Sunbelt Rentals is one of the largest equipment rental companies in North America with over 550 locations. Sunbelt's extensive fleet exceeds $5 billion and includes general construction equipment, industrial tools, pumps and power generation, and more.

BUILDING BLOCKS

POOLER, GA—Shepherd Health and Cobalt Seniors announce Shepherd Living at Savannah Quarters, an upscale 124-resident community offering spa-like living on roughly 10 acres in Pooler. The joint venture has purchased the property from Southwest Quadrant Development and is developing the community with United Community Bank, architectural firm Erdman, and contractor DeAngelis Diamond. The project will create approximately 200 jobs throughout the construction period and, once completed, approximately 65-plus additional jobs for permanent operations.