This Week's Atlanta Deal Sheet
One of the nation's most prolific industrial developers is breaking ground on a new distribution hub in North Georgia.
Seefried Properties purchased a 56-acre site on Union Grove Road — a half-mile from Interstate 75 — in Calhoun, a city sandwiched between Cartersville and Dalton. The developer plans to build a 739K SF speculative warehouse called Grove 75 Logistics Center, with 40-foot ceiling heights and ample trailer and car parking, according to a release.
Seefried Director of Leasing Joseph Kriss, Leasing Associate Tripp Ausband and Senior Vice President Doug Smith will market and lease the facility, which is expected to deliver in the third quarter of 2023.
PERSONNEL
Natalie Robinson has been appointed as Peachtree Group's vice president of people and culture, tasked with recruiting talent, developing and retaining employees, and ensuring inclusion and diversity. Robinson, who comes from human resources management at OS National, will report directly to Senior Vice President Vivian Clarke. Peachtree Group recently changed its name from Peachtree Hotel Group to reflect its broader ambitions.
LEASES
Law firm James Bates Brannan Groover is moving into 16,700 SF at Highwoods' new, 135K SF boutique office building at 2827 Peachtree Road in Buckhead being developed in a joint venture with Brand Properties. The law firm filed an application with the city of Atlanta to build out its space in the $79M office building rising on a lot next to Fellini's Pizza, just south of the Buckhead Village.
The cost of the build-out is $1.78M, according to the permit. James Bates' current office is listed at 3399 Peachtree Road in Buckhead.
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The Painted Pickle Compeatery is headed to Armour Yards. The pickleball/restaurant concept has leased 35K SF at 279 Ottley Drive, a 57,500 SF adaptive reuse creative office space in Buckhead. The facility will have space for food and beverage as well as pickleball courts, according to the permit.
SALES
Nuveen Real Estate sold the Walmart-anchored portion of Fayette Pavilion to an unidentified investor for $24.5M. The 216K SF retail building, which Walmart has occupied since 1996 and recently renewed for 10 more years, is located at 125 Pavilion Parkway. JLL Director Michael Brewster, Senior Director Whitaker Leonhardt and Senior Managing Director Jim Hamilton brokered the sale.
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RangeWater Real Estate purchased Avana Druid Hills apartments at 3471 North Druid Hills Road in Decatur for an undisclosed amount from Greystar. The 228-unit property, recently given a $1.2M exterior update, was valued at $23M by DeKalb County earlier this year. Greystar secured a $42M deed on the property in 2019, according to county records. Northmarq Managing Director Jason Nettles, Senior Vice President Megan Thompson and Vice President Peter Chacon brokered the sale.
