This Week's Atlanta Deal Sheet
A California defense equipment maker is opening a research and development center at Jamestown's Upper West Side mixed-use development Allied Studios.
Anduril leased 180K SF at 1435 Hills Place for its Area-I subsidiary that is a maker of advanced unmanned aircraft systems, according to a press release. Georgia Gov. Brian Kemp announced Thursday that Anduril will invest $60M in the manufacturing and research facility, creating 180 new jobs over the next three years.
San Diego-based Hughes Marino represented the tech firm, which supplies equipment for the U.S. defense industry. Atlanta-based Capital Real Estate Group CEO John Thornton and President Bennett Gottlieb represented Jamestown.
The deal is a big win for Jamestown, the developer of Ponce City Market, which purchased the three older buildings off Collier Road that make up Allied Studios in 2019 for more than $22M. Jamestown is transforming the project into a mix of office, retail, restaurants and showroom space.
LEASING
Atlanta-based Bread N Butter Content Studio, operators of the gastro website Atlanta Eats, is moving its facility from Buckhead to 6,200 SF at 500 Chattahoochee Row, the second creative office adaptive reuse building that is part of Selig Enterprises' The Works in the Upper West Side.
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The regional division of Enterprise Holdings, which operates more than 100 Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car offices in Atlanta, inked a deal for 31K SF at Ashford Perimeter, a 300K SF building owned by CP Group and formerly occupied by State Farm. Stream Realty Senior Vice President Kevin Driver and Vice President Billy Graddy represented CP Group, while Savills Vice Chairman John Flack and Cresa Managing Principal Bubba Chrismer represented Enterprise.
INVESTMENTS
Miami-based Westside Capital Group purchased The Lofts at Twenty25, a 16-story, 632-unit renovated apartment tower in Buckhead for $136M from Varden Capital Properties, marking the firm's debut into the Atlanta multifamily market. Cushman & Wakefield Executive Vice Chairman Robert Stickel and Executive Director Alex Brown brokered the sale, which equated to $218K per unit.
Anchor Health Properties purchased 2550 Windy Hill Road, a 90K SF medical office building on the Wellstar Windy Hill Hospital campus in Marietta, for an undisclosed sum. The firm, which owns 16 MOBs in Georgia, purchased the property in a joint venture with funds from its Chestnut Healthcare Fund II and funds managed by the global investment firm Carlyle. The last listed owner in Cobb County Assessor records was Windy Hill Medical Office, an LLC out of Miami. The county appraised 2550 Windy Hill at $14.7M this year.
Anchor Vice President and partner Elliott Sellers as well as Transwestern Senior Managing Directors Steve Hall and Kevin Markwordt brokered the sale.
PERSONNEL
Apartment industry vets Peter DiCorpo and Eric Hade have founded Brook Farm Group, an Atlanta-based multifamily developer that will spearhead lifestyle apartment projects in the Sun Belt and the Mountain states. With more than 50 years of combined experience, DiCorpo and Hade have built $10M together in new apartments totaling more than 40,000 units. DiCorpo previously worked with The Allen Morris Co. while Hade was the chief development officer for Waypoint Real Estate Investments.
