NEWS & NOTABLES

ATLANTA—Hotel Equities was named to manage the 127-suite Residence Inn by Marriott Atlanta Perimeter Center Dunwoody, developed and owned by Hotel Development Partners. The hotel marks the third property owned by HDP and managed by Hotel Equities in the Atlanta Perimeter Center market. Joe Fallis serves as the general manager and Susan Zuppardo is the director of sales. HDP also owns the Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody and the Fairfield Inn & Suites Perimeter Center. Both are also managed by Hotel Equities.

ATLANTA—Savills Studley hired commercial real estate veteran Brian Boyd. He joins the firm's global consulting services group as director and will be based in the firm's Atlanta office. As the group's lead in the Atlanta region, Boyd will focus his efforts on enhancing the firm's consultative capabilities in the region and developing solutions that align clients' real estate portfolios with business and financial goals. Boyd comes from Cushman & Wakefield in Atlanta, where he also focused on tenant representation. With more than a decade of commercial real estate experience, he has managed more than 5 million square feet of transactions. Notably, Boyd represented WorldPay in its 130,000-square-foot global headquarters relocation to Atlanta.

DEAL TRACKER

ATLANTA—Cushman & Wakefield arranged a 28,000-square-foot lease renewal with CBS Radio at Colony Square in the Midtown submarket. Andy Sumlin, Sonia Winfield and Laura Power of Cushman & Wakefield represented the landlords, North American Properties and Lionstone Investments, in the transaction. Sam Hollis and Ken Ashley of Cushman & Wakefield represented CBS Radio. Colony Square features two office towers totaling 720,000 square feet, residential condos, a 467-room W hotel and 163,000 square feet of retail space. The property is undergoing a considerable renovation with the help of a highly regarded team, including urban planner Jeff Speck and architecture firms Beyer Blinder Belle and Lord Aeck Sargent. The first phase, an overhaul of the street level retail space in 100 & 400 Colony Square, is slated for completion in December 2018.

AUGUSTA, GA—Lexerd Capital Management announced two of its funds have acquired three properties in Augusta. The properties include Parker Place Apartments, Alexander Place Apartments, and Arborside Apartments, all garden style multifamily communities with 139, 127 and 180 units respectively. Lexerd renamed the properties “The Lory of Augusta.” Terms of the transaction were not disclosed. Augusta enjoys some of the lowest unemployment rates in the nation driven by Augusta's Core “Demand Generators” known as the four Ms—Military, Manufacturing, Medical and, of course, The Masters Golf Tournament.

ATLANTA—Cushman & Wakefield has been retained to manage The Fountains, a 550,166-square-foot class A office complex located within PiedCmont Center, a 52-acre office park in Atlanta's Buckhead submarket. Laurie Harper, Cushman & Wakefield director of Asset Services, will lead the management team. The four-building complex is currently undergoing a renovation, including upgraded fitness and conference centers, additional seating and shading in the courtyard, updated signage and wayfinding and lobby enhancements. In addition to winning management of The Fountains, Cushman & Wakefield was retained to manage Piedmont Center Buildings 1 through 4 and 15 upon their recent sale to The Ardent Companies. The Atlanta team has successfully managed this five building portfolio, totaling 823,566 square feet, since 2012.

UNION CITY, GA—Newmark Knight Frank, in collaboration with UK counterpart Knight Frank, negotiated a 1 million square-foot industrial lease transaction for ASOS, a London-based fashion retailer, in Union City, just outside of Atlanta, in one of the most significant deals in the U.S. thus far this year. ASOS is one of the largest, fastest growing e-commerce fashion retailers in the world. With 85,000 products on site and 5,000 new items added each week, it is a destination for 20-somethings.

DULUTH, GA—Sugarloaf Business Center has traded hands. IG3 Real Estate snapped up the 113,016-square-foot office complex in Duluth, GA for $13.5 million. All told, the Miami-based real estate investment and asset management firm has invested over $100 million worth of Georgia commercial real estate assets in the past two years. Duluth has seen an uptick in its office market in recent weeks.

ATLANTA—Village at Westfork, a 75,947-square-foot, Kroger-anchored neighborhood retail center in Lithia Springs, GA, has traded hands. Financial terms of the deal were not disclosed. Katz Properties purchased the asset free and clear of existing debt. HFF brokered the sale and placed the 10-year, fixed-rate acquisition loan with Ladder Capital Finance. The HFF debt placement team representing the borrower was led by senior director Chip Sykes. “Village at Westfork represented a rare opportunity to acquire a dominant, high-performing Kroger-anchored shopping center in one of the fastest-growing submarkets of the Atlanta MSA,” says HFF managing director Jim Hamilton. Hamilton and HFF senior managing director Richard Reid, along with associates Brad Buchanan and Mike Allison also worked on the multifamily deal.

ATLANTA—Cushman & Wakefield is marketing a 4.1-acre land assemblage is for sale in Atlanta's Midtown submarket. Pierce Owings, Matt Hawkins and Ron Willingham of Cushman & Wakefield have listed the property for sale on behalf of three owners, The Roman Catholic Archdiocese of Atlanta, Voya and the Hiott/Watson families. “After many years of inefficiently operating in multiple locations, the Archdiocese of Atlanta consolidated its ministries in a single building in Cobb County approximately six years ago,” says John Schiavone, director of Real Estate Development, Catholic Construction Services for The Roman Catholic Archdiocese of Atlanta.

BUILDING BLOCKS

ATLANTA—Construction is underway on two luxury student housing communities offering resort-style living. Mallory & Evans Development is building these additions to its Bellamy brand with a combined value of $56 million: Bellamy Coastal, a $32 million 480-bed community adjacent to Coastal Carolina University in Conway, SC; Bellamy Florence, a $24 million 420-bed community near the University of North Alabama in Florence, AL. Caliber Living, a subsidiary of Mallory & Evans, will lease and manage both communities.

ATLANTA—This week in the Southeast saw interesting numbers come out of Gwinnet County. Atlanta's submarkets continue to drive action.

BY THE NUMBERS

Gwinnett County, Atlanta is one of the fastest growing suburbs of Atlanta and has seen some of the most robust job growth in all of metro Atlanta. Since 2000, the population in Gwinnet Country has increased by 36%. (Source: RADCO)

The Gwinnett County population grew by over 16,000 in the past year alone and the area is currently home to more than 120 international corporate headquarters. (Source: RADCO)

NEWS & NOTABLES

ATLANTA—Hotel Equities was named to manage the 127-suite Residence Inn by Marriott Atlanta Perimeter Center Dunwoody, developed and owned by Hotel Development Partners. The hotel marks the third property owned by HDP and managed by Hotel Equities in the Atlanta Perimeter Center market. Joe Fallis serves as the general manager and Susan Zuppardo is the director of sales. HDP also owns the Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody and the Fairfield Inn & Suites Perimeter Center. Both are also managed by Hotel Equities.

ATLANTA—Savills Studley hired commercial real estate veteran Brian Boyd. He joins the firm's global consulting services group as director and will be based in the firm's Atlanta office. As the group's lead in the Atlanta region, Boyd will focus his efforts on enhancing the firm's consultative capabilities in the region and developing solutions that align clients' real estate portfolios with business and financial goals. Boyd comes from Cushman & Wakefield in Atlanta, where he also focused on tenant representation. With more than a decade of commercial real estate experience, he has managed more than 5 million square feet of transactions. Notably, Boyd represented WorldPay in its 130,000-square-foot global headquarters relocation to Atlanta.

DEAL TRACKER

ATLANTA—Cushman & Wakefield arranged a 28,000-square-foot lease renewal with CBS Radio at Colony Square in the Midtown submarket. Andy Sumlin, Sonia Winfield and Laura Power of Cushman & Wakefield represented the landlords, North American Properties and Lionstone Investments, in the transaction. Sam Hollis and Ken Ashley of Cushman & Wakefield represented CBS Radio. Colony Square features two office towers totaling 720,000 square feet, residential condos, a 467-room W hotel and 163,000 square feet of retail space. The property is undergoing a considerable renovation with the help of a highly regarded team, including urban planner Jeff Speck and architecture firms Beyer Blinder Belle and Lord Aeck Sargent. The first phase, an overhaul of the street level retail space in 100 & 400 Colony Square, is slated for completion in December 2018.

AUGUSTA, GA—Lexerd Capital Management announced two of its funds have acquired three properties in Augusta. The properties include Parker Place Apartments, Alexander Place Apartments, and Arborside Apartments, all garden style multifamily communities with 139, 127 and 180 units respectively. Lexerd renamed the properties “The Lory of Augusta.” Terms of the transaction were not disclosed. Augusta enjoys some of the lowest unemployment rates in the nation driven by Augusta's Core “Demand Generators” known as the four Ms—Military, Manufacturing, Medical and, of course, The Masters Golf Tournament.

ATLANTA—Cushman & Wakefield has been retained to manage The Fountains, a 550,166-square-foot class A office complex located within PiedCmont Center, a 52-acre office park in Atlanta's Buckhead submarket. Laurie Harper, Cushman & Wakefield director of Asset Services, will lead the management team. The four-building complex is currently undergoing a renovation, including upgraded fitness and conference centers, additional seating and shading in the courtyard, updated signage and wayfinding and lobby enhancements. In addition to winning management of The Fountains, Cushman & Wakefield was retained to manage Piedmont Center Buildings 1 through 4 and 15 upon their recent sale to The Ardent Companies. The Atlanta team has successfully managed this five building portfolio, totaling 823,566 square feet, since 2012.

UNION CITY, GA—Newmark Knight Frank, in collaboration with UK counterpart Knight Frank, negotiated a 1 million square-foot industrial lease transaction for ASOS, a London-based fashion retailer, in Union City, just outside of Atlanta, in one of the most significant deals in the U.S. thus far this year. ASOS is one of the largest, fastest growing e-commerce fashion retailers in the world. With 85,000 products on site and 5,000 new items added each week, it is a destination for 20-somethings.

DULUTH, GA—Sugarloaf Business Center has traded hands. IG3 Real Estate snapped up the 113,016-square-foot office complex in Duluth, GA for $13.5 million. All told, the Miami-based real estate investment and asset management firm has invested over $100 million worth of Georgia commercial real estate assets in the past two years. Duluth has seen an uptick in its office market in recent weeks.

ATLANTA—Village at Westfork, a 75,947-square-foot, Kroger-anchored neighborhood retail center in Lithia Springs, GA, has traded hands. Financial terms of the deal were not disclosed. Katz Properties purchased the asset free and clear of existing debt. HFF brokered the sale and placed the 10-year, fixed-rate acquisition loan with Ladder Capital Finance. The HFF debt placement team representing the borrower was led by senior director Chip Sykes. “Village at Westfork represented a rare opportunity to acquire a dominant, high-performing Kroger-anchored shopping center in one of the fastest-growing submarkets of the Atlanta MSA,” says HFF managing director Jim Hamilton. Hamilton and HFF senior managing director Richard Reid, along with associates Brad Buchanan and Mike Allison also worked on the multifamily deal.

ATLANTA—Cushman & Wakefield is marketing a 4.1-acre land assemblage is for sale in Atlanta's Midtown submarket. Pierce Owings, Matt Hawkins and Ron Willingham of Cushman & Wakefield have listed the property for sale on behalf of three owners, The Roman Catholic Archdiocese of Atlanta, Voya and the Hiott/Watson families. “After many years of inefficiently operating in multiple locations, the Archdiocese of Atlanta consolidated its ministries in a single building in Cobb County approximately six years ago,” says John Schiavone, director of Real Estate Development, Catholic Construction Services for The Roman Catholic Archdiocese of Atlanta.

BUILDING BLOCKS

ATLANTA—Construction is underway on two luxury student housing communities offering resort-style living. Mallory & Evans Development is building these additions to its Bellamy brand with a combined value of $56 million: Bellamy Coastal, a $32 million 480-bed community adjacent to Coastal Carolina University in Conway, SC; Bellamy Florence, a $24 million 420-bed community near the University of North Alabama in Florence, AL. Caliber Living, a subsidiary of Mallory & Evans, will lease and manage both communities.