NEWS & NOTABLES

ATLANTA—Robbins Electra appointed Lisa Grosse as executive vice president for South Atlantic states. She is responsible for the performance, enhancements, oversight and operations matters in several states. Grosse will direct all regional managers in her area of geographic responsibility and will be based in Atlanta. She reports to Robbins Electra COO Kristi King. Prior to joining Robbins Electra, Grosse served as senior vice president for RADCO Residential in Atlanta. She managed the company's multifamily platform, where she coordinated and assisted in asset transactions in 10 states and 13 cities, totaling 17,593 units. Grosse also directly supervised more than seven regional managers, created tier structure for regional vice presidents and regional managers and oversaw nine successful dispositions.

ORANGE BEACH, AL—The Lynmark Group opened Hotel Indigo Orange Beach, the first upscale beachside boutique hotel on the Alabama Gulf Coast. Located at 22843 Perdido Beach Boulevard, the hotel is on the beach of the Gulf of Mexico. The hotel is next to the Ron Jon's Surf Shop and Big Wave Dave's restaurant.

DEAL TRACKER

ATLANTA—715 Peachtree, a 10-story, 318,450-square-foot class A office building in the heart of Midtown Atlanta, has secured $61.9 million in financing. CBRE Group's Debt & Structured Finance team arranged the loan for Carter and PCCP. Jonathan Rice and Jeff Ackemann of CBRE's Atlanta office led the capital markets efforts for the three-year bridge loan provided by KKR & Co. The loan will enable Carter to pay an existing loan used for renovations and refurbishment to the property, and provides for tenant improvements and leasing capital. “We are seeing competition among the lending community for stand-out assets such as 715 Peachtree,” Ackemann, executive vice president of CBRE, tells GlobeSt.com. “This building brings a desirable block of creative office space and exclusive retail to a submarket rich with talented professionals. It's attracting big-name tenants and thus attracting investors and partners such as KKR, a redcent entrant to the Atlanta market.”

ATLANTA—Dilweg Companies snapped up The Pointe. The reported sale price: $46 million. The Pointe sits in Central Perimeter's Northridge Road corridor—one of Atlanta's most affluent executive neighborhoods. The 418,000 square-foot, two-building, mid-rise office development is currently 66% occupied. “Suburban office product proves to be a solid investment choice,” McCall King, CBRE senior research analyst, tells GlobeSt.com. “A recent report from CBRE Econometric Advisors projects continued rent growth for the North American suburban office market through 2018. Submarkets with high-quality amenities, such as Avalon or The Battery, and efficient buildings capable of handling denser employee layouts will likely perform best. The investor attraction is intensified in Atlanta as job and population growth increase.”

SENATOBIA, MS—Two large luxury homes with saltwater pools, waterfalls and expansive views are set for auction July 6, along with grazing and pasture land. The assets are within a half hour's drive of Memphis. The farm has a total of 822 acres, as well as a lighted round pen and horse stall. It is being offered in 11 tracts, including the two tracts with the homes. A second farm, located three miles away in Panola County, has 1,254 acres of quality pasture, which will be offered in 10 tracts. The Panola County farm features the Grandview Plantation Auction Sale Barn, as well as a lake of approximately 60 acres with large bass.

ATLANTA—Lionstone Investments selected the firm to lease and manage 271 17th Street, a class A office tower located at Atlantic Station in Atlanta's Midtown submarket. Lionstone acquired the 25-story, 541,870-square-foot trophy office tower in early May. Known as BB&T Tower, the building is currently 93.3% leased and is home to major companies including BB&T, Sage Software and Womble Carlyle. Built in 2009, it is the newest office tower constructed at Atlantic Station. Amenities include branch banking, concierge and conference facilities.

BIRMINGHAM—Berkadia brokered the sales of Madison at Shoal Run and Mountain Lodge, two multifamily properties located in Birmingham. Senior managing director David Oakley completed the sales for a combined $40.75 million on behalf of the seller, The Embassy Group. The buyer was Dasmen Residential, based out of New York. Built in 1986, Madison at Shoal Run features one-, two-, and three-bedroom floor plans. According to Berkadia, the sales of both these multifamily properties represents continued interest in the Birmingham multifamily market from outside investors. Both properties are well-located and boasts strong demand fundamentals that the buyer recognized quickly.

BUILDING BLOCKS

BOSSIER CITY, LA—Sabre Industries CEO and president Peter J. Sandore is making a $1.6 million capital investment and create 50 new direct jobs at its Sabre Building Systems by CellXion manufacturing location in Bossier City. Sabre industries will retain 167 existing jobs in Bossier City while creating the 50 new direct jobs, which will provide an average salary of $47,000 per year, plus benefits. Louisiana Economic Development estimates the project will result in an additional 13 indirect jobs, for a total of more than 60 new jobs in Northwest Louisiana. Based in Alvarado, Texas, south of Fort Worth, Sabre Industries manufactures engineered structures for the utility and telecommunications industries. In Bossier City, the company's Sabre Building Systems by CellXion division will produce large steel poles and support systems for transmission networks and towers that are currently manufactured in Texas and Ohio facilities.

This week in the Southeast saw some interesting commercial real estate deals in Alabama and Mississippi. Meanwhile, Louisiana continues to gain ground on the industrial front.

BY THE NUMBERS

Atlanta's diverse economy and business-friendly environment will support further growth in the coming year. After a 2.7% gain in 2016, employers will expand payrolls 2.5 percent in 2017 through the addition of 68,000 jobs. (Source: Marcus & Millichap)

The expanding workforce will push the median household income up 2.6% to $64,000 in 2017, 9 percent above the national level. (Source: Marcus & Millichap)

NEWS & NOTABLES

ATLANTA—Robbins Electra appointed Lisa Grosse as executive vice president for South Atlantic states. She is responsible for the performance, enhancements, oversight and operations matters in several states. Grosse will direct all regional managers in her area of geographic responsibility and will be based in Atlanta. She reports to Robbins Electra COO Kristi King. Prior to joining Robbins Electra, Grosse served as senior vice president for RADCO Residential in Atlanta. She managed the company's multifamily platform, where she coordinated and assisted in asset transactions in 10 states and 13 cities, totaling 17,593 units. Grosse also directly supervised more than seven regional managers, created tier structure for regional vice presidents and regional managers and oversaw nine successful dispositions.

ORANGE BEACH, AL—The Lynmark Group opened Hotel Indigo Orange Beach, the first upscale beachside boutique hotel on the Alabama Gulf Coast. Located at 22843 Perdido Beach Boulevard, the hotel is on the beach of the Gulf of Mexico. The hotel is next to the Ron Jon's Surf Shop and Big Wave Dave's restaurant.

DEAL TRACKER

ATLANTA—715 Peachtree, a 10-story, 318,450-square-foot class A office building in the heart of Midtown Atlanta, has secured $61.9 million in financing. CBRE Group's Debt & Structured Finance team arranged the loan for Carter and PCCP. Jonathan Rice and Jeff Ackemann of CBRE's Atlanta office led the capital markets efforts for the three-year bridge loan provided by KKR & Co. The loan will enable Carter to pay an existing loan used for renovations and refurbishment to the property, and provides for tenant improvements and leasing capital. “We are seeing competition among the lending community for stand-out assets such as 715 Peachtree,” Ackemann, executive vice president of CBRE, tells GlobeSt.com. “This building brings a desirable block of creative office space and exclusive retail to a submarket rich with talented professionals. It's attracting big-name tenants and thus attracting investors and partners such as KKR, a redcent entrant to the Atlanta market.”

ATLANTA—Dilweg Companies snapped up The Pointe. The reported sale price: $46 million. The Pointe sits in Central Perimeter's Northridge Road corridor—one of Atlanta's most affluent executive neighborhoods. The 418,000 square-foot, two-building, mid-rise office development is currently 66% occupied. “Suburban office product proves to be a solid investment choice,” McCall King, CBRE senior research analyst, tells GlobeSt.com. “A recent report from CBRE Econometric Advisors projects continued rent growth for the North American suburban office market through 2018. Submarkets with high-quality amenities, such as Avalon or The Battery, and efficient buildings capable of handling denser employee layouts will likely perform best. The investor attraction is intensified in Atlanta as job and population growth increase.”

SENATOBIA, MS—Two large luxury homes with saltwater pools, waterfalls and expansive views are set for auction July 6, along with grazing and pasture land. The assets are within a half hour's drive of Memphis. The farm has a total of 822 acres, as well as a lighted round pen and horse stall. It is being offered in 11 tracts, including the two tracts with the homes. A second farm, located three miles away in Panola County, has 1,254 acres of quality pasture, which will be offered in 10 tracts. The Panola County farm features the Grandview Plantation Auction Sale Barn, as well as a lake of approximately 60 acres with large bass.

ATLANTA—Lionstone Investments selected the firm to lease and manage 271 17th Street, a class A office tower located at Atlantic Station in Atlanta's Midtown submarket. Lionstone acquired the 25-story, 541,870-square-foot trophy office tower in early May. Known as BB&T Tower, the building is currently 93.3% leased and is home to major companies including BB&T, Sage Software and Womble Carlyle. Built in 2009, it is the newest office tower constructed at Atlantic Station. Amenities include branch banking, concierge and conference facilities.

BIRMINGHAM—Berkadia brokered the sales of Madison at Shoal Run and Mountain Lodge, two multifamily properties located in Birmingham. Senior managing director David Oakley completed the sales for a combined $40.75 million on behalf of the seller, The Embassy Group. The buyer was Dasmen Residential, based out of New York. Built in 1986, Madison at Shoal Run features one-, two-, and three-bedroom floor plans. According to Berkadia, the sales of both these multifamily properties represents continued interest in the Birmingham multifamily market from outside investors. Both properties are well-located and boasts strong demand fundamentals that the buyer recognized quickly.

BUILDING BLOCKS

BOSSIER CITY, LA—Sabre Industries CEO and president Peter J. Sandore is making a $1.6 million capital investment and create 50 new direct jobs at its Sabre Building Systems by CellXion manufacturing location in Bossier City. Sabre industries will retain 167 existing jobs in Bossier City while creating the 50 new direct jobs, which will provide an average salary of $47,000 per year, plus benefits. Louisiana Economic Development estimates the project will result in an additional 13 indirect jobs, for a total of more than 60 new jobs in Northwest Louisiana. Based in Alvarado, Texas, south of Fort Worth, Sabre Industries manufactures engineered structures for the utility and telecommunications industries. In Bossier City, the company's Sabre Building Systems by CellXion division will produce large steel poles and support systems for transmission networks and towers that are currently manufactured in Texas and Ohio facilities.