ATLANTA—Early this week in Florida saw major kudos for an Atlanta architecture firm. Atlanta's construction scene was also active.
BY THE NUMBERS
Atlanta multifamily completions have risen considerably from the 9,200 units added to stock in the previous 12-month period. Deliveries were widespread with Midtown receiving roughly 2,400 units, the most among submarkets. (Source: Marcus & Millichap)
NEWS & NOTABLES
ATLANTA—BoggsVickers was named to the University of Florida's 2018 Gator100. Sponsored by the UF Alumni Association, in partnership with the UF Entrepreneurship & Innovation Center, the Gator100 recognizes the 100 fastest-growing businesses owned or led by UF alumni. Ernst & Young calculated each company's compound annual growth rate over the past three years to generate the ranking. A first-time Gator100 applicant, BoggsVickers is the highest-ranked architecture firm and the fifth-highest ranked company from the College of Design, Construction and Planning. Recognized for its 56.26% growth rate, the Atlanta-based architecture and interior design firm is co-owned by Travis Vickers, principal, who holds a master's degree in architecture and a bachelor's degree in architectural design from the University of Florida, and John Boggs, principal.
DEAL TRACKER
ATLANTA—Manchester Place, a 308-unit apartment community in Lithia Springs, GA, has traded hands. Financial terms of the deal were not disclosed. Josh Goldfarb, Travis Presnell, and Mike Kemether of Cushman & Wakefield represented the seller. Strand Communities sold the asset. “Manchester Place, although well-maintained and in very good physical condition, was offered with original finishes and amenities,” Goldfarb tells GlobeSt.com. “With the growing employers and population in Douglas County, the new owner will take advantage of strong residential demand by offering a repositioned, upgraded quality community.”
ATLANTA—Specialty healthcare system Veritas Collaborative signed a long-term lease in Grubb Properties' Park at Perimeter Center East in Atlanta's Central Perimeter Market. Veritas Collaborative CEO Stacie McEntyresays, “We are very pleased to find a home for our state-of-the-art treatment facility to serve greater Atlanta, Georgia, and surrounding Southeastern states. It is very important to us that the hospital was near the critical medical cluster at I-285 and GA 400, and the Park at Perimeter Center East best fits all our needs.”
BUILDING BLOCKS
ATLANTA—CBRE Global Investors rolled out its vision for The Collective at Concourse, a group of class A office buildings located in Atlanta's Central Perimeter market. The global real estate management firm recently acquired the three mid-rise office buildings known as Concourse Buildings I, II and IV, and plans a $6 million capital improvement project that will incorporate enhanced amenities and shared coworking office spaces.Totaling 751,093 square feet, The Collective at Concourse will join CBRE's “5-Star Worldwide” program, a national network of office buildings.
ALPHARETTA, GA—KDC announced plans to market and develop eight acres for build-to-suit office space at the $400 million Windward Park mixed-use development. The site is zoned for two 250,000-square-foot class Aoffice buildings. The 48-acre development is located at the corner of Windward Parkway and GA 400 in the North Fulton submarket of the Atlanta metropolitan area. The project creates a dynamic live-work-play environment at the gateway of Alpharetta with office, luxury residences, a hotel, along with dining and green spaces.
ATLANTA—WRS unveiled renderings of its four-block downtown redevelopment—specifically the area located at the Southwest corner of Central and Alabama known as Kenny's Alley/Underground Atlanta mall. Featuring more than 150,000 square feet of retail, office and communal areas, construction on Block 3 began in January, four months ahead of schedule, and will be complete in 12 to 14 months.
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