This Week's Atlanta Deal Sheet
Georgia’s bet on incentivizing a solar cell-maker’s plant is paying off with a related supplier announcing a manufacturing facility of its own in Cartersville.
Georgia Gov. Brian Kemp announced Wednesday that Hanwha Advanced Materials Georgia is planning to develop a $147M manufacturing plant in Cartersville to make encapsulant film used to protect solar cell panels manufactured by Qcells. The deal promises an additional 160 new jobs to the metro economy.
The facility is slated to be at the Highland 75 Corporate/Industrial Park in the Bartow County city and to deliver next summer. Georgia Department of Economic Development Project Manager Jacob Lee led state incentive negotiations with Hanwha.
Earlier this year, Qcells announced plans to build two new solar cell plants in Georgia, including one near its existing facility in Dalton. Hanwha, a subsidiary of Hanwha Group, will be the only manufacturer of solar encapsulants in the state, according to a press release.
SALES
Viking Capital purchased two suburban Atlanta apartment complexes from RADCO Cos. for nearly $100M combined. It bought Crossings at Eagle’s Landing, a 167-unit apartment complex at 700 Rock Quarry Road in Stockbridge, for $39.25M and the 252-unit Crossings at McDonough for $57.25M.
CBRE Vice Chairman Shea Campbell, Senior Vice President Colleen Hendrix and Executive Vice President Ashish Cholia brokered the sales. RADCO has sold off more than $3B in multifamily holdings in recent years as it pivoted to acquiring other asset types.
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Malls-Etc. purchased Covington Square, a 145K SF shopping center in Lithonia, from Richmar Properties for $13.4M. CBRE Senior Vice President Craig Taylor brokered the sale.
The center, located at 6152 Covington Highway, is anchored by Planet Fitness, Rainbow Shops, City Gear and Las Colinas Restaurant and was 85% occupied at the time of acquisition, according to a release.
LEASES
TRC Staffing Services has inked a 23K SF lease at Palisades, a 639K SF office complex in Central Perimeter, with landlord Atlanta Property Group. Adair Realty Advisors President Chip Adair represented the tenant.
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Airport retail operator Paradies Lagardére renewed its 47K SF office space at Overlook I, the 142K SF office building in Vinings owned by Atlanta Property Group. Cushman & Wakefield Director Christian Taylor and Executive Director Addison Meriwether brokered the deal for the retail operator.
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Burlington has inked a lease for 20K SF at North Griffin Square, a 227K SF shopping center at 1617 North Expressway at the intersection of Georgia Highway 92 and U.S. Highway 19/41. Halpern Regional Leasing Director Dan Gagne secured the deal for the landlord, Halpern Enterprises.
