OXFORD, AL—JLL sold Oxford Exchange, a market dominant 333,975-square-foot power center in Oxford, Alabama. The center is 99% occupied and anchored by TJ Maxx, Hobby Lobby, Dick's Sporting Goods, Ross Dress For Less, Bed Bath & Beyond, PetSmart, Old Navy, Office Max, and Best Buy. It is shadow anchored by Target, Home Depot, Kohl's and Sam's Club which drive additional foot traffic to the property. JLL managing director Margaret Caldwell and vice president Margaret Jones led the transaction. “The property is strategically located along I-20, providing excellent visibility in a highly trafficked corridor and it is uniquely positioned as the only major retail hub between Atlanta and Birmingham, serving a 30-mile trade area in all directions,” says Caldwell.

ATLANTA—Mason Mill Distribution Center, a newly-constructed 340,000 square-foot class A industrial property in Atlanta's northeast submarket of Buford, GA, has traded hands. JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT, acquired the asset for $31 million. The industrial property is fully leased to a publicly-traded global pharmaceutical distribution company through 2027. The tenant invested heavily in the property which is a mission critical facility servicing the southeast region.

ATLANTA—Live Oak Square, a successfully repositioned class A office building in the core of Buckhead's office market, has traded hands. The sale price was undisclosed. CBRE's Justin Parsonnet, Jay O'Meara, Will Yowell, and Ryan Reeth of the firm's Institutional Properties team in Atlanta represented the seller in this transaction. Purchased by a joint venture between Anchor Capital of Atlanta and Sage Equities of Israel, the property is a strategic expansion of the partnership's growing Buckhead portfolio.

ATLANTA—Grandbridge Real Estate Capital closed a $42.421 first mortgage loan secured by Live Oak Square, a 200,410-square foot, multitenant office building in Atlanta. Grandbridge Atlanta-based senior vice president Alan Tapie originated the acquisition. The loan was funded through one of Grandbridge's Insurance company correspondent relationships. “The loan was provided for a repeat Grandbridge client who was entering into their second office acquisition in Buckhead,” he says. “The acquisition represented an opportunity for the borrower to capitalize on the dynamic Buckhead location by utilizing new leasing and capital strategies for the asset. The financing featured a five-year all in term with prepayment flexibility, and future funding capabilities for tenant buildout and capital expenses.

BUILDING BLOCKS

ATLANTA—Trammell Crow Company and a joint venture partner advised by CBRE Global Investors unveiled plans for a 3.94-acre site in Atlanta's Central Perimeter that is directly connected to the Dunwoody Marta Station. The site, which TCC acquired on December 15, 2017, will be home to Twelve24, a new, transit-oriented 16-story office tower. Twelve24 will feature 334,000 square feet of class A office space along with 11,000 square feet of ground floor retail and restaurants. Insight Global, a national staffing and services company, has already signed a long-term lease for approximately 60% of the building. Twelve24 is expected to break ground in summer 2018 and complete in early 2020.