NEWS & NOTABLES

ATLANTA—SRS Real Estate Partners hired Maggie Cox as an associate in the Atlanta office. She will focus on tenant representation alongside the Atlanta team. Cox joins SRS from Marcus & Millichap as part of the Molloy Kaye Retail Group, which has executed more than $1 billion in real estate transactions throughout the US. As an investment associate, she consulted with retail clients on the disposition of their shopping centers and single-tenant retail assets. She started her career in New York City preforming site selection for Diamond International.

ATLANTA—Georgia Power, subsidiary of Southern Company, hired commercial real estate firm JLL to market its property located at 760 Ralph McGill Boulevard in Atlanta, with the intent of gauging interest for redevelopment. Branded by JLL as Eastline at Fourth, the property represents a keystone development opportunity in the Old Fourth Ward neighborhood. JLL's Scott Cullen, Mark Lindenbaum, and Leigh Martin will oversee the marketing, developer selection and sales process for the property. “The city has made significant infrastructure investments in this submarket, allowing the area to evolve into one of the most dynamic in the City. This, along with recent demographic, employment and population trends, creates a tremendous development opportunity,” says Cullen. Located adjacent to The Atlanta BeltLine's Eastside Trail and Historic Fourth Ward Park, the 10.2-acre parcel can potentially be redeveloped with a mix of residences, offices, hotel rooms, and retail space.

DUNWOODY, GA—CBRE brokered the sale of Aspire Dunwoody, a multifamily development in Central Perimeter. CBRE's Kevin Geiger led the transaction, along with his partners Malcolm McComb, Paul Berry and Shea Campbell of the firm's Southeast Multifamily Group. CBRE represented the seller, Lincoln Property Company. Affiliates of Harbor Group International acquired the asset at 7150 Peachtree Dunwoody Road adding to their current portfolio in Georgia that includes Preserve at Mill Creek, Avia East Cobb and Avia Riverside.

ATLANTA—NorthPoint Executive Suites is demonstrating the strength of the alternative workspace office market in Midtown. The company just inked a 23,222-square-foot lease to occupy a full floor at One Atlantic Center located in the heart of Atlanta's Midtown submarket. Cushman & Wakefield's Boris Garbuz represented NorthPoint in the office lease. The alternative workspace provider will offer upscale executive office suites and conference rooms, targeting attorneys and other professional services.

ATLANTA—Skyview Distribution Center, a 225,000-square-foot light industrial building in Atlanta's Interstate 20 West submarket has traded hands. Financial terms of the deal were not disclosed. Ascentris, a Denver-based real estate investment manager, brokered the sale of the industrial asset for one of its public retirement system client. Developed in partnership with Huntington Industrial Partners and facility came online in August 2016 and features a front-loading configuration and 32-foot clear height.

BUILDING BLOCKS

HENDERSONVILLE, TN—Ryan Companies US acquired an 11-acre land parcel at the Southwest corner of Indian Lake Boulevard and Maple Drive in Hendersonville's Indian Lake Center area that paves the way for the development and construction of a new senior living community. Clarendale at Indian Lake is a $48.5 million senior living community with 189 residences offering independent living, assisted living and memory care apartments and services. Ryan Companies and its project partners LCS and Harrison Street Real Estate Capital will develop, own and manage Clarendale at Indian Lake, with Ryan also serving as design-builder. It will be the fourth community in the expanding Clarendale senior living brand. Construction of Clarendale at Indian Lake will begin this spring with the community slated to open in fall 2018.

This week in the Southeast was light on the commercial real estate front. That said, there is some interesting news coming out on property taxes, at least one strategic hires, and some new building in the works.

BY THE NUMBERS

The Southeast continues to post some of the lowest effective property rates in the US. In particular, Alabama was among the states with the lowest effective property taxes. Alabama's property tax rate came in at .48%. Tennessee's property tax rate was close at .54%. (Source: ATTOM Data Solutions)

Among the 217 metro areas analyzed for the report, those with the lowest effective property rates are: Montgomery, Alabama (0.35%); Tuscaloosa, Alabama (0.36 percent); Florence and South Carolina (0.44%).

NEWS & NOTABLES

ATLANTA—SRS Real Estate Partners hired Maggie Cox as an associate in the Atlanta office. She will focus on tenant representation alongside the Atlanta team. Cox joins SRS from Marcus & Millichap as part of the Molloy Kaye Retail Group, which has executed more than $1 billion in real estate transactions throughout the US. As an investment associate, she consulted with retail clients on the disposition of their shopping centers and single-tenant retail assets. She started her career in New York City preforming site selection for Diamond International.

ATLANTA—Georgia Power, subsidiary of Southern Company, hired commercial real estate firm JLL to market its property located at 760 Ralph McGill Boulevard in Atlanta, with the intent of gauging interest for redevelopment. Branded by JLL as Eastline at Fourth, the property represents a keystone development opportunity in the Old Fourth Ward neighborhood. JLL's Scott Cullen, Mark Lindenbaum, and Leigh Martin will oversee the marketing, developer selection and sales process for the property. “The city has made significant infrastructure investments in this submarket, allowing the area to evolve into one of the most dynamic in the City. This, along with recent demographic, employment and population trends, creates a tremendous development opportunity,” says Cullen. Located adjacent to The Atlanta BeltLine's Eastside Trail and Historic Fourth Ward Park, the 10.2-acre parcel can potentially be redeveloped with a mix of residences, offices, hotel rooms, and retail space.

DUNWOODY, GA—CBRE brokered the sale of Aspire Dunwoody, a multifamily development in Central Perimeter. CBRE's Kevin Geiger led the transaction, along with his partners Malcolm McComb, Paul Berry and Shea Campbell of the firm's Southeast Multifamily Group. CBRE represented the seller, Lincoln Property Company. Affiliates of Harbor Group International acquired the asset at 7150 Peachtree Dunwoody Road adding to their current portfolio in Georgia that includes Preserve at Mill Creek, Avia East Cobb and Avia Riverside.

ATLANTA—NorthPoint Executive Suites is demonstrating the strength of the alternative workspace office market in Midtown. The company just inked a 23,222-square-foot lease to occupy a full floor at One Atlantic Center located in the heart of Atlanta's Midtown submarket. Cushman & Wakefield's Boris Garbuz represented NorthPoint in the office lease. The alternative workspace provider will offer upscale executive office suites and conference rooms, targeting attorneys and other professional services.

ATLANTA—Skyview Distribution Center, a 225,000-square-foot light industrial building in Atlanta's Interstate 20 West submarket has traded hands. Financial terms of the deal were not disclosed. Ascentris, a Denver-based real estate investment manager, brokered the sale of the industrial asset for one of its public retirement system client. Developed in partnership with Huntington Industrial Partners and facility came online in August 2016 and features a front-loading configuration and 32-foot clear height.

BUILDING BLOCKS

HENDERSONVILLE, TN—Ryan Companies US acquired an 11-acre land parcel at the Southwest corner of Indian Lake Boulevard and Maple Drive in Hendersonville's Indian Lake Center area that paves the way for the development and construction of a new senior living community. Clarendale at Indian Lake is a $48.5 million senior living community with 189 residences offering independent living, assisted living and memory care apartments and services. Ryan Companies and its project partners LCS and Harrison Street Real Estate Capital will develop, own and manage Clarendale at Indian Lake, with Ryan also serving as design-builder. It will be the fourth community in the expanding Clarendale senior living brand. Construction of Clarendale at Indian Lake will begin this spring with the community slated to open in fall 2018.