This Week's Atlanta Deal Sheet
John Dewberry appears to be moving forward again on his planned renovation of Midtown's Campanile Building.
Dewberry Group, led by the former Georgia Tech quarterback and one of Atlanta's most well-known commercial real estate figures, filed a land disturbance application with the city of Atlanta Aug. 16 to begin work on its Campanile project. The proposed permit seeks to demolish existing landscapes and hardscapes and grade the site to make way for an expansion of the first six levels of the 21-story tower into a mix of uses, including adding two grease traps for future food service providers.
In May, Dewberry proposed a major overhaul of the 455K SF office tower at 1155 Peachtree St., a redevelopment that seeks to add six new stories atop the tower and build eight floors of office and retail at the base. The developer is seeking to add a total of 265K SF of office and 39K SF of retail in a 27-story final product, Bisnow previously reported.
LEASES
Cleveland Electric Co. has leased 51K SF at Building 100 in Northcreek Office Park in Buckhead, moving from its owned offices off Fulton Industrial Boulevard. Northcreek is a four-building office park totaling 537K SF owned by Regent Partners.
Cushman & Wakefield Executive Managing Director Aileen Almassy and associate Melanie Garlock represented the landlord. McWhirter Realty Partners' Dan Buyers and Peyton McWhirter represented the tenant.
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Kupcakerie and Supremo Taco are two of the newest eateries moving to 709 Memorial Drive in the Reynoldstown neighborhood of Atlanta. The deals were brokered by the landlord, Habif Properties, which recently redeveloped the spaces, converting them from a former automotive shop.
SALES
South Coast Commercial purchased Ivy Walk, a 42,500 SF neighborhood retail center in Vinings, from MRE Properties for $18.5M. Developed in 2004, Ivy Walk, at the intersection of Atlanta Road and Cumberland Parkway, is more than 90% occupied by such tenants as South City Kitchen, First Watch, Children's Healthcare of Atlanta and Natural Body Spa.
JLL Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton and associate Andrew Kahn brokered the sale.
DEVELOPMENT
Korea-based SungEel HiTech Co. plans to develop a $37M battery recycling plant at the Haystone Brady Business Park in Toccoa, Georgia, nearly 100 miles north of Atlanta. This will be SungEel's first U.S. plant, according to a press release from Gov. Brian Kemp, and will employ more than 100 people once completed, which is expected in 2024.
SungEel recycles batteries to recover 95% of their metals, including nickel, cobalt and lithium, according to a press release. Negotiations were led by Georgia Department of Economic Development Director of Korean Investment Yoonie Kim, along with the Stephens County Development Authority and the Georgia Electrical Membership Corp.
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Atlanta shopping center developer Retail Planning Corp. has filed an application with the Georgia Department of Community Affairs for a proposed development called North Park.
The 139-acre site off Keith Bridge Road in Forsyth County would include 172 attached residential units, 656 apartments and 702K SF of commercial space, according to a development of regional impact application. If greenlighted, the project is scheduled to deliver in 2035.
