ATLANTA—In a move to strengthen the team, Franklin Street appointed Cary Beale as senior vice president of the company's Retail Landlord Services' division. He will focus on strengthening the division's ability to drive more value to investor clients, while also recruiting top talent in the industry on a national basis. Most recently, Beale worked for DDR Corp. as vice president of leasing. He supervised the leasing of more than 25 million square feet of retail shopping centers in Georgia, North Carolina, South Carolina, Tennessee and Alabama, encompassing over 100 properties. Before working with DDR, Beale owned and operated Wireless Giant for two years in Midtown Atlanta. He also owned and operated an award-winning restaurant for six years in Northville, MI. Beale began his early career as a retail tenant services manager for The Beale Group, overseeing leasing for several shopping centers in Michigan.

JOHNSON CITY, TN—The Real Estate Company of East Tennessee joined the CENTURY 21 Franchise System and will now operate as CENTURY 21 Heritage. The company will continue to provide full-service real estate services to buyers and sellers throughout the Tri-Cities area. Broker and owner Mike Garber brings 11 years of real estate experience to the table, along with a team of 23 highly-skilled professionals to service the greater Tri-Cities area.

DEAL TRACKER

ATLANTA—The Integral Group selected The Shopping Center Group to guide the retail, restaurant and entertainment leasing efforts for its 145-acre mixed-use development, Assembly Yards. Senior leasing advisor and partner Alan Shaw will lead a landlord advisory team assembled to execute the vision for Assembly. He, along with his partner, Drew Lewis, is working closely with Integral to advance the overall vision of Assembly, customize the leasing strategy and ultimately redefine “experiential” and reshape consumer behavior within metro Atlanta.

KNOXVILLE—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the sale of Walden Legacy, a 236-unit apartment community in Knoxville. Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Sagebrush Legacy Management, in the transaction. Mount Auburn Multifamily acquired the property. Equidistant between Downtown Knoxville to the east and Oak Ridge to the northwest, Walden Legacy offers access to thousands of jobs as well as retail, including Chick-fil-A, Starbucks, and Publix. The property, built in 2005, is 95% leased.

CHATTANOOGA—Time Equities acquired two enclosed regional mall assets in Tennessee for $53.5 million. Both assets were purchased from CBL & Associates Properties, a Chattanooga-based real estate firm. College Square Mall is located at 2550 East Morris Boulevard in Morristown. Foothills Mall is located at 197 Foothills Mall Drive in Maryville, TN. Spanning 396,084 and 316,313 square feet respectively, College Square Mall and Foothills Mall are now TEI's largest and second-largest retail assets in the state, with additional holdings in Memphis, Nashville, Bristol and Bartlett. Ami Ziff, Jonathan Kim and Adam Levitt oversaw the transaction on behalf of Time Equities. CBL was the seller of both assets, represented by NGKF's Thomas Dobrowski.

BUILDING BLOCKS

ATLANTA—Downtown Atlanta's iconic Peachtree Center, a mixed-use center created in the 1960's by John Portman, Jr. as the city's first transit-oriented development, is preparing to undergo a massive renovation of its retail hub, which caters to six office towers and three convention hotels. Peachtree Center, which is home to over 50 restaurants, retailers and services, recently tapped Amy Fingerhut and Sara Pepper of CBRE to handle remerchandising its tenant mix to modernize the retail center. Peachtree Center is pairing the retail revitalization with placemaking efforts like the Peachtree Center Green Market, which occupies the courtyard every Thursday during warm weather months.

ATLANTA—John Hancock Real Estate and CRG are developing a 1 million square foot industrial building in the Atlanta suburb of Locust Grove. The building will be available for occupancy in early 2018. “Atlanta's thriving business culture makes it a key component of our real estate acquisition and development strategy,” says Kevin Adolphe, president and CEO of Manulife Real Estate. Real estate developer CRG, on behalf of John Hancock Real Estate, owner of the property, will create a multiple phase business park with the flexibility to meet large industrial needs. This is the first of a 311-acre development designed for over 4.5 million square feet of industrial buildings.

Early this week in the Southeast saw good news coming out of the hotel industry.
And Franklin Street made an especially strategic hire. Atlanta and Tennessee were the hot spots in the region.

BY THE NUMBERS

The US lodging industry started 2017 on a strong note. During the first quarter of 2017, hotel demand increased by 2.8%. The result was an occupancy of 61.1%, the highest first quarter occupancy rate reported by STR in the past 30 years. (Source: CBRE)

NEWS & NOTABLES

ATLANTA—In a move to strengthen the team, Franklin Street appointed Cary Beale as senior vice president of the company's Retail Landlord Services' division. He will focus on strengthening the division's ability to drive more value to investor clients, while also recruiting top talent in the industry on a national basis. Most recently, Beale worked for DDR Corp. as vice president of leasing. He supervised the leasing of more than 25 million square feet of retail shopping centers in Georgia, North Carolina, South Carolina, Tennessee and Alabama, encompassing over 100 properties. Before working with DDR, Beale owned and operated Wireless Giant for two years in Midtown Atlanta. He also owned and operated an award-winning restaurant for six years in Northville, MI. Beale began his early career as a retail tenant services manager for The Beale Group, overseeing leasing for several shopping centers in Michigan.

JOHNSON CITY, TN—The Real Estate Company of East Tennessee joined the CENTURY 21 Franchise System and will now operate as CENTURY 21 Heritage. The company will continue to provide full-service real estate services to buyers and sellers throughout the Tri-Cities area. Broker and owner Mike Garber brings 11 years of real estate experience to the table, along with a team of 23 highly-skilled professionals to service the greater Tri-Cities area.

DEAL TRACKER

ATLANTA—The Integral Group selected The Shopping Center Group to guide the retail, restaurant and entertainment leasing efforts for its 145-acre mixed-use development, Assembly Yards. Senior leasing advisor and partner Alan Shaw will lead a landlord advisory team assembled to execute the vision for Assembly. He, along with his partner, Drew Lewis, is working closely with Integral to advance the overall vision of Assembly, customize the leasing strategy and ultimately redefine “experiential” and reshape consumer behavior within metro Atlanta.

KNOXVILLE—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the sale of Walden Legacy, a 236-unit apartment community in Knoxville. Robert Stickel and Nelson Abels of Cushman & Wakefield represented the seller, Sagebrush Legacy Management, in the transaction. Mount Auburn Multifamily acquired the property. Equidistant between Downtown Knoxville to the east and Oak Ridge to the northwest, Walden Legacy offers access to thousands of jobs as well as retail, including Chick-fil-A, Starbucks, and Publix. The property, built in 2005, is 95% leased.

CHATTANOOGA—Time Equities acquired two enclosed regional mall assets in Tennessee for $53.5 million. Both assets were purchased from CBL & Associates Properties, a Chattanooga-based real estate firm. College Square Mall is located at 2550 East Morris Boulevard in Morristown. Foothills Mall is located at 197 Foothills Mall Drive in Maryville, TN. Spanning 396,084 and 316,313 square feet respectively, College Square Mall and Foothills Mall are now TEI's largest and second-largest retail assets in the state, with additional holdings in Memphis, Nashville, Bristol and Bartlett. Ami Ziff, Jonathan Kim and Adam Levitt oversaw the transaction on behalf of Time Equities. CBL was the seller of both assets, represented by NGKF's Thomas Dobrowski.

BUILDING BLOCKS

ATLANTA—Downtown Atlanta's iconic Peachtree Center, a mixed-use center created in the 1960's by John Portman, Jr. as the city's first transit-oriented development, is preparing to undergo a massive renovation of its retail hub, which caters to six office towers and three convention hotels. Peachtree Center, which is home to over 50 restaurants, retailers and services, recently tapped Amy Fingerhut and Sara Pepper of CBRE to handle remerchandising its tenant mix to modernize the retail center. Peachtree Center is pairing the retail revitalization with placemaking efforts like the Peachtree Center Green Market, which occupies the courtyard every Thursday during warm weather months.

ATLANTA—John Hancock Real Estate and CRG are developing a 1 million square foot industrial building in the Atlanta suburb of Locust Grove. The building will be available for occupancy in early 2018. “Atlanta's thriving business culture makes it a key component of our real estate acquisition and development strategy,” says Kevin Adolphe, president and CEO of Manulife Real Estate. Real estate developer CRG, on behalf of John Hancock Real Estate, owner of the property, will create a multiple phase business park with the flexibility to meet large industrial needs. This is the first of a 311-acre development designed for over 4.5 million square feet of industrial buildings.