This Week's Atlanta Deal Sheet
One of Stream Realty Partners' newest hires has secured a major leasing assignment.
Stream Realty Managing Director Glenn Kolker and his team — Senior Vice President Steve DeVinney and associate Madison McClellan — have been tapped by Bridge Commercial Real Estate to lease The Dupree, a six-story, 138K SF office building at 6120 Powers Ferry Road in the Cumberland/Galleria submarket.
The Dupree has 70K SF available for lease, according to a press release. Bridge purchased the building for $12.6M in 2019. The firm recently spent $3.4M on renovations that included a new tenant lounge, conference facilities with a catering kitchen, a new fitness center and Bridge’s coworking operation, Abridge.
Kolker was among a handful of Atlanta commercial real estate veterans who were hired by Stream last year.
ASSIGNMENTS
CTO Realty Growth has tapped JLL Executive Vice President Coleman Morris, Vice President Sherri Mann and associate Alec Volle to lease its recently acquired The Collection at Forsyth lifestyle center off Georgia 400 and Peachtree Parkway.
In December, CTO purchased the 560K SF complex, which is 80% leased to tenants like Children’s Healthcare of Atlanta, Academy Sports and Barnes & Noble, for $96M from Starwood Property Trust.
SALES
A private investor based in Washington, D.C., purchased Westpark Walk, a 74K SF shopping center at 400 Commerce Drive in Peachtree City, for $15.2M. Neither party was identified, but state records list the address of the seller as Stavins & Axelrod Properties in Washington, D.C.
Tuesday Morning, Firehouse Subs and Verizon are among the tenants at the fully leased center 20 miles south of Atlanta. Northmarq Senior Vice President Emery Shane and Associate Vice President Jeff Enck brokered the sale.
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The Pickron Family Trust purchased 1203 Town Lake, a 9K SF medical office building in Evans, for $3.6M from PAWS Holdings. The building is fully leased to Anne Arundel Dermatology. Bull Realty partner Paul Zeman brokered the transaction.
LEASES
Mexican restaurant Agave Bandido, sushi eatery Cuddlefish and ice cream purveyor Ben & Jerry’s have all inked leases at Boston-based GID Development’s $2B High Street project in Central Perimeter. The first phase, slated to open next year, is expected to include 150K SF of retail, 90K SF of offices, 600 apartments and a park.
DEVELOPMENT
Swinerton has broken ground on Diamond College Park, a 60-unit affordable housing project on the land owned by College Park First United Methodist Church, part of the larger Ion College Park development partnership between the church and the city of College Park. The 79K SF building is being developed adjacent to the College Park MARTA Station.
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Global auto parts supplier Seoyon E-HWA is planning a $76M manufacturing facility in Chatham County, just outside Savannah, that is expected to add 740 new jobs to the region. Seoyon already operates a facility in LaGrange. The new plant is set to make parts for door trims, headlining and tailgate trims. Georgia Department of Economic Development Director of Project Implementation and Supplier Strategy Alyce Thornhill led the economic development team that secured the deal.
