This Week's Atlanta Deal Sheet: Denver Developer Razing Former Kellogg's Plant For New Warehouse
A Denver-based real estate firm is getting into the rail-served warehouse game in Metro Atlanta.
Broe Group purchased 5601 Bucknell Drive, a 102K SF former Kellogg’s facility off Interstate 20 West in the Fulton Industrial submarket, for an undisclosed sum.
But the facility won’t stand for long. Broe affiliate Broe Real Estate Group plans to raze the structure to make way for a 225K SF distribution facility along the Fulton County Railroad line, according to the company.
The rail line is served by Broe rail affiliate OmniTrax, according to a press release.
CBRE’s Mark Hawks brokered the sale. The $35M facility will be developed as a build-to-suit.
SALES
Foxfield purchased 3059 Premiere Parkway, a 169K SF flex industrial facility in Duluth, from Belgian technology company Barco NV for an undisclosed sum. In turn, Barco leased the facility back for six years, paying $10 per SF, according to a JLL marketing flyer that has since been removed from its website.
JLL’s Dennis Mitchell, Matt Wirth, Britton Burdette and Jim Freeman, along with Hailey Realty’s Howard Boyd and John Crawford, brokered the sale. According to Gwinnett County, the facility's value was assessed at $8M this year.
LEASING
Grocer Trader Joe’s leased just under 14K SF for a new store at the Halcyon mixed-use project in Forsyth County. Terms of the lease weren't disclosed.
The grocery store is part of the third phase of the project by RocaPoint Partners. It will join Chewy Vet Care, Chase Bank, Five Guys and Chick-Fil-A.
PERSONNEL
Sean Fitzsimmons joined Logistics Property Co. as senior vice president for the Southeast region. Fitzsimmons, based in Atlanta, is tasked with developing and leasing projects for LogiPropCo’s warehouse portfolio of 1.7M SF in the Southeast.
The 25-year industrial veteran previously acted as senior vice president for the Southeast for Broe Real Estate Group, according to Linkedin.
***
Atlanta industrial veteran Lisa Ward announced that she is retiring on July 15 from her day-to-day role at Core5 Industrial Partners, a subsidiary of Kajima USA Inc. Ward, who came to the firm from IDI, was one of the co-founders of Core5 in 2015, helping to entitle and buy 2,400 acres of industrial land and develop more than 19M SF of warehouses.
Core5 named Rodney Davidson to replace Ward as senior vice president and managing director of the Southeast, with Mitchell Townsend rising to Davidson’s previous role as vice president of investments.
***
Newmark’s Atlanta office snagged CBRE’s investment sales team of Jay O’Meara, Justin Parsonnet and Ryan Reethof. Newmark named Parsonnet and O’Meara vice chairmen and Reethof senior managing director.
Together, the trio has sold more than 110M SF in office properties, totaling $23B in sales, including the $380M sale of Bank of America Plaza to CP Group in 2022.
***
Anna Rohde Yuan joined Bull Realty as president of the firm’s international investment group, jumping from the firm she founded, Charlotte-based International Commercial Partners. The 15-year CRE veteran is tasked with connecting international investors to real estate deals.
***
Ryan Cos. tapped Kathleen Bonesz as senior vice president for speculative development in the Southeast, a new position created in the firm. The 18-year industrial veteran previously served as vice president for Brookfield Properties’ Southeast region, and she has worked with clients such as Ikea, Amazon and Ace Hardware.
