This Week's Atlanta Deal Sheet
A Michigan-based food distributor is setting up shop at Atlantic Station in Midtown.
Gordon Food Service is expected to lease 13K SF at T3 West Midtown, the 205K SF timber-framed office at Atlantic Station building off 17th Street, according to an alterations application filed with the city of Atlanta. This is a new-to-market lease for Gordon Food, which operates a distribution center in Lithia Springs, Colliers Senior Vice President Andrew Waguespack told Bisnow. Waguespack represented Gordon Food in the transaction.
Hines delivered the seven-story T3 in 2020 with Facebook as a tenant. Macy's had pre-leased 105K SF in February 2020 for its IT operations, but pulled the plug on those plans roughly three months later due to the pandemic.
Gordon Food plans to spend $750K to put up new partitions and demising walls as well as new finishes and alterations to the ceiling, according to the application.
LEASES
Regions Bank is staying at the Mini-Me tower in Midtown. The banking giant renewed 101K SF for 14 years, according to a press release, at 1180 West Peachtree St., nicknamed because of its similarity to nearby One Atlantic Center. Known officially as Regions Plaza, the 503K SF tower is owned by PGIM Real Estate. Stream Realty Senior Vice Presidents Kevin Driver and Steve DeVinney brokered the deal for PGIM, while ICON Commercial Interests CEO Mitch Kahlert, Senior Vice President Jimmy Sanders and President Harry deAntonio represented Regions.
DEVELOPMENT
Prologis is planning its next local logistics project inside Atlanta city limits. The industrial developer has filed an application with the Georgia Department of Community Affairs to develop two warehouses totaling 614K SF on a 31.5-acre site at 1400 Murphy Ave. in the Capitol View neighborhood. If approved, Prologis expects to be able to deliver it by next year, according to the application.
New York-based Property Markets Group and Greybrook Realty Partners have broken ground on Society Atlanta, a 31-story apartment tower at 811 Peachtree St. The project is set to include 460 apartment units, 81K SF of office and 16,500 SF of retail, with an anticipated opening in late 2024, according to a press release.
Society Atlanta will have co-living units as well as traditional apartments and will have a rooftop pool and restaurant, coworking space, gym and fitness studio. This is PMG's first project in Atlanta, but the firm is behind high-profile projects like the Echo Brickell and X Miami in Miami and the just-completed 111 West 57th St., a 1,428-foot condo tower on Billionaires Row in New York City that holds the distinction as the world's skinniest skyscraper.
SALES
Memphis-based Fogelman Properties purchased Renew at Carrollton, a 111-unit 1970s-era apartment complex in the suburban city 45 miles west of Downtown Atlanta. The last owner of record was VA7 South Park LLC, which shares an address with California-based Trinity Property Consultants, according to the Georgia Secretary of State database.
Fogelman has rebranded the property as Venue at Carrollton and plans to update the property and apartment interiors at the property, where rents start at $1,075/month, according to a press release. A purchase price was not disclosed. According to Carroll County property tax records, Trinity purchased the complex for $8.6M last April.
