This Week's Atlanta Deal Sheet: Hyundai, SK Confirm Battery Plant Plans
A Korean lithium-ion battery-maker is officially headed to North Georgia for a new plant in partnership with Hyundai Motor Group.
Georgia Gov. Brian Kemp — fresh from a re-election victory — announced Tuesday that SK On will build a battery plant at Bartow Centre, an industrial site located in Bartow County, some 50 miles north of Downtown Atlanta.
The up to $5B investment will supply electric vehicle batteries for Hyundai plants in the U.S. and employ 3,500 people when it opens in 2025. The Korean Economic Daily was the first to report SK and Hyundai’s plans.
SK Innovation already operates a battery plant in Commerce, Georgia, that employs more than 2,000 people and is part of the EV industry that has grown to 22,800 jobs in the state.
SALES
Homebuilder D.R. Horton has purchased the 8-acre western portion of a site co-owned by Coro Realty and Miller Lowry Developments in Hapeville to make way for a 110-townhouse community. Coro and Miller Lowry, which initially purchased a total of 16 acres in Downtown Hapeville, is keeping control of the other half of the site, which is just outside of Atlanta and near the Porsche North American headquarters campus.
The terms of the deal were not disclosed.
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Birge & Held Asset Management purchased Merritt at Sugarloaf, a 424-unit apartment complex in Duluth, from Passco Cos. for an undisclosed sum. Located at 2951 Satellite Blvd., the property was last purchased by Passco in 2018 for $70.7M, according to Gwinnett County records.
CBRE Vice Chairmen Paul Berry, Malcolm McComb, Shea Campbell and Kevin Geiger and Senior Vice Presidents Colleen Hendrix and Don Hoffman brokered the sale.
LEASES
Black Book, a vehicle pricing and analytics provider, renewed 15.5K SF at Huntcrest II, a 107K SF office building in Lawrenceville. Lincoln Senior Vice President Hunter Henritze, Vice President Matt Fergus and Senior Leasing Associate Seabie Hickson represented the landlord, TerraCap Management, while Cushman & Wakefield Executive Director Sam Hollis represented Black Book.
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Saras Micro Devices inked a seven-year, 17.5K SF lease at Inland Tract, a 77K SF flex office building that is part of the 11-building adaptive reuse Westside Collective project in West Midtown. Cushman & Wakefield Executive Director Addison Meriwether represented the tenant while Lincoln Senior Vice Presidents Hunter Henritze and Michael Howell and Vice President Caroline Fisher represented the landlord, a joint venture between J.P. Morgan Global Alternatives and Crestlight Capital.
PERSONNEL
Gordon Benedict and Courtney Oldenburg have joined CBRE’s advisory and transaction services division, jumping over from Cushman & Wakefield. Benedict has been named senior vice president while Oldenburg was named first vice president.
