This Week's Atlanta Deal Sheet: Manhattan Associates Inks Major HQ Renewal
A logistics software maker is keeping its headquarters near The Battery at Truist Park for another dozen years, although its space is getting a little trim.
Manhattan Associates renewed 209K SF at Wildwood Center, the 11-story, 693K SF office complex in the Wildwood office park in Cobb County, through Sept. 30, 2036, according to the firm’s annual report.
The renewal downsizes its original office footprint at the building at 2300 Windy Ridge Parkway by 12K SF, according to the filing. The lease was set to expire in September 2025. The new lease was executed on Jan. 31.
CBRE Vice Chairmen John Shlesinger and Sam Holmes represented Manhattan Associates. JLL Executive Vice Presidents Glenn Aspinwall and David Horne and Vice President Alexis Vondersaar represent the landlord, 2300 Windy Ridge LLC.
The LLC is tied to the Troesh Family Foundation in Henderson, Nevada, according to state documents. A CBRE spokesperson declined to comment, and the JLL brokers didn't respond to messages seeking comment.
The deal ranks among the largest office leases, both new and renewals, executed in Atlanta in the past year.
LEASES
RS&H leased 10K SF at Two Midtown Plaza, taking a full floor in the 20-story, 273K SF office tower at 1349 West Peachtree St. The architectural and engineering consulting firm is expanding from its 8K SF office at 730 Peachtree to take the penthouse with a private elevator at Two Midtown.
Cresa Vice President Hugh Rader represented the tenant, while landlord Lincoln Property Co. was represented in-house by Vice Presidents Gil Russell and Alex Port and Executive Vice President Michael Howell.
SALES
Houston-based Hilltop Residential purchased the 592-unit apartment complex at 180 Jackson St. in the Sweet Auburn area for $115M from Camden Property Trust, the Atlanta Business Chronicle reported.
The sale comes after Camden President Keith Oden said the firm was looking to offload the building, previously named Camden Vantage, because its management "would rather someone else take care of" it, Bisnow previously reported.
Rebranded as The Lookout at O4W, the building has been listed among The Atlanta Journal-Constitution’s most dangerous dwellings in Metro Atlanta. The paper tracked 189 crimes from 2017 to June 2023, including six robberies, two rapes and five aggravated assaults.
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BBV ATL LLC purchased two flex industrial properties totaling 27K SF at 121 and 131 Bells Ferry Lane in Marietta from Avatar Rosedale LLC for $3.9M. Avatar Rosedale was the lender on the properties that took them back earlier this year.
Bull Realty CEO Michael Bull and Vice President John Westmoreland brokered the transaction.
DEVELOPMENT
Ackerman & Co. is seeking to convert a 200K SF warehouse along the Atlanta BeltLine Westside Trail into a potential mixed-use destination. The firm filed to rezone 1200 White St. and the 12.5 acres it sits on to allow it to explore a mix of uses, including a grocery store, a gym or a film and production studio, the Atlanta Business Chronicle reports. The empty warehouse was most recently used by Sony Entertainment as a production studio, according to the ABC.
Ackerman & Co., along with MDH Partners, redeveloped the Lee + White project nearby from a string of brick warehouses into a popular mixed-use destination.
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Choice Hotels International has delivered its first East Coast Everhome Suites extended-stay hotel in Newnan. The 58K SF, 115-room facility at 67 Diplomat Parkway shares a property with Choice’s economy extended-stay brand, WoodSpring Suites. The middle-tier Everhome brand launched in January 2022. The property was developed and is owned by the Turnstone Group.
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A joint venture of The Macallan Group, McNeal Development and BCDC is breaking ground on a nearly 20-acre townhome project off Peeples Valley Road near Piedmont Cartersville Hospital and downtown Cartersville, 43 miles north of Atlanta. The 16-building project will include 97 two-story townhomes with private garages.
First Carolina Bank is financing the project with preferred equity from Middleburg Communities. RangeWater Real Estate is handling the leasing and management of the project.
PERSONNEL
Darrell Thomas has joined Bull Realty as senior vice president of multifamily sales after a stint as the director of acquisitions and development with the Atlanta Housing Authority. A graduate of Penn State University with a master's degree in community and economic development, Thomas also served eight years with the Marine Corps.
