News
The Deal Sheet
April 5, 2011
| Sales | |
| AMLI Residential has purchased a 4.2-acre parcel near the corner of Ponce de Leon and North Avenue from Wells Fargo for $5M. Called Ponce Park, AMLI is planning to develop a 300 to 350-unitapartment complex, according to Databank. | |
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| Atlanta-based ARA is doing the Texas two-step, brokering the sale the Arbors of Killeen, a 160-unit Class-A property in Killeen, Texas, to Atlanta-based Place Properties. ARA's Kelly Witherspoon andJeff Patterson brokered the sale for an undisclosed price. | |
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| Marketing Directors' Vic Miller and June Obondo spearheaded thesell-out of Huff Heights at 1199 Huff Road, an 18-unit townhouse property. The duo have now been named as the marketing team to The Brownstones at Edgewood, an 18-unit townhouse in East Atlanta. | |
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| Newburger-Andes has purchased a former Arby's restaurant at 1120 Powder Springs St in Marietta for an undisclosed sum.The building is a 2,400 SF free-standing facility. | |
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| Wells Real Estate Investment Trust II was expected to sell $250M in senior notes, due 2018, with ratings of BBB- from Standard & Poor's and Baa3 from Moody's. The funds will be used to repay existing indebtedness and related fees and expenses, the Norcross company reported. | |
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| Mimms Enterprises has both its Concord Village Shopping Centeron South Cobb Dr and Perimeter Square in Athens on the marketfor an undisclosed price, Robert Mimms told our audience at last week's Atlanta Retail Summit. | |
| Property Management | |
| Commercial Property Professionals Founder Furman Wood is spearheading the marketing and leasing of The Pavilion at Lake Hearn, a two-building 241k SF medical office park off of Peachtree-Dunwoody Road near I-285. | |
| Leases | |
| Fresh from its merger with Tarpley & Underwood, Atlanta CPA firmWindham Brannon has leased 35k SF and will move its offices to3630 Peachtree, the Duke Realty/Pope & Land Buckhead tower, sources tell us. The firm is consolidating offices from Ravinia and 1315 Peachtree. Dale Lewis with Carter and Jackie Gauthreaux with Pope & Land brokered the deal, sources say. | |
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| The State of Georgia has renewed and expanded to 14,700 SF at316 Business Center at 1000 Hurricane Shoals Rd in Lawrenceville. The state will operate field offices of the Department of Human Resources and Office of Child Support Services from the facility. Bull Realty's Mark Stockwell brokered the deal. |
