BATON ROUGE—National Association of State Contractors Licensing Agencies, or NASCLA, presented the Louisiana Contractors Accreditation Institute with a national Innovation in Regulation Award, highlighting the institute's success in supporting the growth and success of small construction companies in Louisiana. The Louisiana Contractors Accreditation Institute was developed through a collaboration of Louisiana Economic Development, the Louisiana State Licensing Board for Contractors, and the Louisiana Community and Technical College System.

DEAL TRACKER

BATON ROUGE—Audubon Communities completed a $33.3 million acquisition of the 624-unit St. Jean apartment complex in Baton Rouge. Audubon made the purchase with its New York-based partner RCG Longview. The multifamily property was badly damaged in a record flood last year, and will undergo a complete renovation and be renamed The Reserve at White Oak. The low-density apartment community, which includes lots of green spaces, consists of 66 buildings on 49 acres which were built in 1997. The complex is primarily made up of large two- and three-bedroom apartments that average 1,100 square feet.

ATLANTA—Sealy & Company acquired the Johns Creek Value & Income Portfolio, a 277,201-square-foot single-story office portfolio. The office portfolio is at the heart of the affluent and award-winning master-planned community of Johns Creek in metro Atlanta's North Fulton submarket. This acquisition was made on behalf of Sealy Strategic Equity Partners.

ATLANTA—Lincoln Property Company Southeast announced extensive, multi-million dollar renovations by owner Colony NorthStar are underway at its five-story class A office building at 3333 Riverwood Parkway office building in the Cumberland Galleria submarket of Atlanta. Michael Howell and Matt Davis of Lincoln lead leasing at the property. Ownership is commencing upgrades to the main lobby, common corridors, elevator cabs and restrooms. The work will also include enhancing signage in the parking deck. Currently, the fourth and fifth floors of the building are available for lease creating a contiguous 47,512 square-foot block of space that features an internal staircase and numerous upgraded finishes throughout.

ATLANTA—Savills Studley completed an 8,500-square-foot deal in Atlanta for Southern First Bank. The bank will open its first office in the city at 309 East Paces Ferry Road located in the Buckhead district. Formerly known as the Aaron's Rents building, 309 East Paces is a newly transformed property ready for occupancy, developed by a joint venture between KnoxRedan and The Loudermilk Cos. Originally built in 1963, the 54-year-old building was Buckhead's first high-rise. The redesigned 12-story structure now offers 80,000 square feet of office space in addition to ground-level retail space, onsite parking, industrial style windows with views and all the local conveniences of the district.

BUILDING BLOCKS

ATLANTA—Ware Malcomb announced construction is complete on the Medline Industries distribution center comprised of over 1 million square feet in Atlanta. The new build-to-suit, 1,069,200 square foot distribution center includes 1,042,622 square feet of warehouse space and 26,578 square feet of office space. A concrete tilt-up construction method was used, resulting in shorter lead times for the construction phase. Ware Malcomb employed a patterned reveal design that is unique to the tilt-up method.