BY THE NUMBERS
ATLANTA—Metrowide, the average first-year return for Atlanta's apartment properties held steady during the last 12 months in the mid-6% span. (Source: Marcus & Millichap)
NEWS & NOTABLES
ATLANTA—CREW Atlanta announced its board members for 2018, including Tina Renee McCall of Gemini Rosemont Commercial Real Estate as president. McCall has been a member of CREW since 2006 and has served on the board for three years as treasurer and president-elect. She was part of the 2010 Leadership Class and has been involved in several committees including the ACE and CREW Network committees. She was also a chair for the Awards and Sponsorship committees, and has participated in the mentoring program and UCREW. Additional members of the 2018 board of directors include: Ann Cone of CBRE, president-elect; Monetha Cobb of Franklin Street Real Estate Services, past president; Sara Silvio of Constructive Ingenuity, treasurer; Jodi Borges-Bradley of NELSON, director; and Diana Robinson of Colliers International.
NASHVILLE—Nina Marie Hutchinson and Kristan Roberts Ward recently joined the Sentry Management's Nashville Division as community association managers. Hutchinson is now senior community association manager and is located in Knoxville. She concentrates on supporting communities in the Knoxville, Lenoir City, Sevierville, Pigeon Forge and Gatlinburg areas. She has been in the community management industry since 2001. Ward, community association manager, is a native of Middle Tennessee. She and business partners founded a community association company in Murfreesboro, TN in 2008 and successfully operated with a 100% client retention rate for ten years.
DEAL TRACKER
ATLANTA—Savills Studley completed a lease for the Council of State and Territorial Epidemiologists (CSTE) in Atlanta. The organization will relocate its national headquarters to a 23,000-square-foot space at 2635 Century Parkway in August 2018. Located within the Century Center office park, 2635 Century Parkway is a class A office tower in the Chamblee/North Druid Hills submarket. The 10-story property offers 210,000 square feet of office space, energy efficient features and ample onsite parking. CSTE will occupy the building's seventh floor once its current lease at 2872 Woodcock Boulevard expires. The Savills Studley transaction team included David Rubenstein, Bo Keatley and John Flack. The landlord was represented in negotiations by John Grimsley of Highwoods Properties.
BIRMINGHAM—SDM Partners, with the assistance of its capital advisor Patterson Real Estate Advisory Group, closed on the acquisition of Meadow Brook North, a three-building, 365,000-square foot office portfolio located on Corporate Parkway in Birmingham's Highway 280 submarket. The property is located on ±23.4 acres and is approximately 68% leased. Patterson arranged the acquisition financing which included a joint venture equity partnership with Blue Vista and bridge loans with Hamilton State Bank and State Bank and Trust Company.
ATLANTA—NAI Brannen Goddard facilitated the sale of Mountain East Business Center, a 247,507-square-foot master-planned park of 12 office/flex/warehouse buildings located at West Park Place Boulevard and West Park Court off of Highway 78 in Stone Mountain, Gwinnett County. NAI Brannen Goddard managing director David Beak and director Stephen Pond marketed the property on behalf of the seller, James M. Williams, Jr Real Estate. The property sold for $6.875 million, $27.78 per square foot, and was 43% leased at the time of sale.
BUILDING BLOCKS
BATON ROUGE—The $25 million Center for Coastal & Deltaic Solutions, the waterfront anchor on the 35-acre Water Campus located between Downtown Baton Rouge and the Louisiana State University main campus, has been completed. Built at the site of Baton Rouge's former municipal dock, the elevated three-story structure extends over the river, providing a plaza surrounding the structure for public viewing of the Mississippi River beyond the levee. The centerpiece of the structure is The Water Institute of the Gulf, which will occupy offices on the second floor of the 34,000-square-foot structure.
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