The Deal Sheet
We learned Monday that Cornerstone purchased The Park at Windward Concourse—two Class-A offices totaling 202k SF off Windward Parkway in Alpharetta. (Buying two offices is the best way to avoid making one jealous.)
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LEASES
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Wanna drink a tall glass of beet-carrot-apple-aloe-ginger juice? Perhaps you have a hankering for celery-kale-spinach-romaine-cucumber-lemon juice? Then check out Roots Juices fresh-squeezed juice bar that inked a deal to open at Shops Around Lenox this month.
SALES
Cousins Properties continues to sell off its industrial land holdings. Recently the REIT sold 124 acres off I-85 and Highway 129 in Jefferson called Jefferson Mill. The land is zoned for retail and industrial use. Bullock Mannelly Partners' Pat Laughlin brokered the deal for Cousins.
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Looks like UHS-Pruitt is on track to buy the former Joel & Associates building in Buckhead to create a rehab center run by the long-term care clinic. According to an email sent to the Huntington and Northwood neighborhood associations from Brookwood Hills Community Club president John Wheeler, UHS-Pruitt has applied for a special-use permit for a medical rehabilitation center for patients. Richard Bowers & Co's Dick Bowers has been tapped to sell the 9,500 SF building for more than $7M.
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Cancer Treatment Centers of America has picked up an additional 75 acres in Newnan for a possible expansion of its Southeastern regional medical campus. Georgia Healthcare Properties purchased the land for an undisclosed sum, the group that also owns the land housing CTCA's campus. Newnan Crossing Partnership sold the land. Batson-Cook Realty's Andy Ulsh and Jeremy Hammerton brokered the deal for the seller.
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DEVELOPMENT
Choate Construction has been tap ped as the construction manager for the Mercer University College of Pharmacy project. The school plans to develop a 60k SF facility, which includes classrooms, offices, and a simulated pharmacy. It's scheduled for delivery in May of 2015.
ODDS 'N ENDS
MANAGEMENT
Beacon Management Service has been tapped to manage City Side Lofts, an upscale condo development on Pryor Street near Georgia State U.
PEOPLE
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Former Choate Construction's Jay Du-Sauzay has joined SK Commercial Realty as a project consultant.
EVENTS
The next Retail Bus Tour is set. The organization plans on a West Metro Atlanta tour this Thursday starting at 7:45 am at Phipps Plaza. The bus departs at 9am.
CLARIFICATION
North American Properties' Mark Toro, during a recent Atlanta CCIM chapter panel, disclosed plans to develop a conference center and hotel as part of the second phase of Avalon. We should've added that the firm is pursuing an Invitation of Interest (IOI) with the City of Alpharetta to possibly enter into a public-private development partnership in order to do so.
