This Week's Atlanta Deal Sheet: Downtown Decatur Landlord Finds Replacement For Emory
A year after completing a major overhaul of a Downtown Decatur office building, the owner of 101 West Ponce has landed the building's first new tenants since losing Emory Healthcare.
Landlord RMR Group signed the National Association of Chronic Disease Directors to an 18.4K SF lease and gaming company Aristocrat Technologies to 6,400 SF at the 113K SF building. The deals are the first in the newly renovated six-story office building since Emory left for the redevelopment of Northlake Mall.
Colliers Executive Vice Presidents Heather Lamb and Jessica Doyle represented the landlord, while ICON Commercial CEO Mitch Kahlert and Senior Vice President Jimmy Sanders represented NACDD and CBRE Senior Vice President David Todd and senior associate Detra Reid brokered the deal for Aristocrat.
RMR purchased 101 West Ponce in 2012 for $22M when Emory fully occupied the office space, which is across from the historic Downtown Decatur Square. Last year, it added new common areas, refurbished the lobby, a tenant lounge and a new facade.
DEVELOPMENT
Creative Home Ideas plans to invest $15M in a new light manufacturing and distribution center at 1962 Sunbury Road in Midway, just outside of Savannah. Gov. Brian Kemp announced the deal, saying the facility will begin operations in 2024 and will hire 70 new employees. The size of the facility wasn't disclosed. Georgia Department of Economic Development Senior Project Manager Adela Kelley led the incentive negotiations for the deal.
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Rocklyn Homes has submitted a development of regional impact application with the state to develop a mammoth mixed-use community on more than 285 acres along the east side of Georgia Highway 53 in Hoschton, 50 miles north of Atlanta.
Called Seller’s Mill Tributarty, the project is slated to include 200K SF of commercial space, a church, 404 townhouse units, 651 single-family home lots and 3.6 acres of civil space. It has a planned delivery date of 2032.
SALES
Amsdell Cos. purchased an 800-unit self-storage facility from Coro Realty and DG Partners in Fairburn and rebranded as Compass Self Storage. Coro and DG sold the building for roughly $20M, according to records. The joint venture broke ground on the 114K SF climate-controlled facility at 7935 Senoia Road in early 2021. Cushman & Wakefield Vice Chairman Luke Elliott brokered the sale.
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Chicago real estate investor New Market - RW sold Roswell-Wieuca Shopping Center, a 74K SF Fresh Market-anchored center in Buckhead, to Nuveen Real Estate for an undisclosed sum. New Market, listed to the same address as Revantage North America, according to state records, paid $32.5M for the property in 2017, according to Fulton County records.
JLL Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and associate Andrew Michols brokered the sale.
PERSONNEL
Atlanta engineering and consulting firm Thomas & Hutton has added a pair of recent college graduates to its roster. Arjun Thopay has been named a civil designer, fresh from interning with two other engineering consulting firms and graduating from Auburn University. Annabel Hsu, who recently graduated from Georgia Tech and completed an internship at Thomas & Hutton, has been named an environmental designer. Thomas & Hutton also tapped Southern University and A&M College graduate Alfred Palomino as a civil engineer.
