This Week's Atlanta Deal Sheet
A veteran Atlanta commercial real estate broker is now in charge of the nationwide marketing efforts of a major brokerage firm.
Tampa-based Franklin Street named Monetha Cobb, a commercial real estate veteran who was tapped by the firm in 2010 to establish an Atlanta office, as the company’s first-ever chief marketing officer.
Cobb is being tasked with establishing a marketing strategy that will help grow all the company’s initiatives across the country and will continue to be based in Atlanta, according to a press release. Previously, Cobb was the regional managing director, hiring brokers for its capital advisory, mixed-use and multifamily investment sales divisions.
Formerly with The Shopping Center Group, Cobb helped to expand Franklin Street’s retail brokerage division to more than 30 brokers and more than 100 retail clients, according to a release.
PERSONNEL
H.J. Russell & Co. has promoted Clinton Kurtz to vice president, tasked with leading the general contractor’s overall growth strategy. Prior to the promotion, Kurtz served as division manager and spearheaded Russell’s expansion into the data center construction market with $100M in revenue in 2023.
The Georgia Tech graduate previously worked at Kajima Building & Design Group and JE Dunn Construction.
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Hyatt Hotels Corp. has tapped Devraj Gorsia as the new general manager for the Hyatt Centric Buckhead Atlanta hotel, where he will head up operations for the 218-room luxury hotel off Lenox Parkway. Gorsia has been with Hyatt for 17 years, working in hotels in Dubai, Chicago, London, Thailand and Scottsdale, Arizona, where he served as the director of food and beverage for the Andaz Scottsdale Resort & Bungalows.
A graduate of the Les Roches School of Hotel Management in Switzerland, Gorsia will focus on improving guest satisfaction, community engagement and other strategic initiatives, according to a press release.
SALES
Institutional investors advised by J.P. Morgan Global Alternatives purchased BlueLinx Atlanta IOS, a 585K SF distribution facility in Lawrenceville, from Stockbridge for $40M. The total site spans more than 60 acres at 200 Hosea Road and sits directly on a CSX rail spur.
JLL Senior Managing Directors Matt Wirth, Dennis Mitchell and Britton Burdette, along with Directors Mitchell Townsend and Jim Freeman, brokered the sale.
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Hight Knox Real Estate Investments sold 1500 Centre Parkway, a 98K SF office building near Atlanta Hartsfield-Jackson International Airport, for an undisclosed sum. The buyer's identity couldn't be learned as of press time.
Hight Knox purchased the property — home to the Transportation Security Administration and the U.S. Customs and Border Protection — in 2018 under the LLC HKSG Camp Creek for $6.75M from Duke Realty. Bull Realty Partners Colt Neal and Davi Finney brokered the sale.
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MDH Partners purchased Beltway Logistics Center, a 655K SF, newly constructed distribution facility near the Port of Savannah, from TPA Group. The price was undisclosed. MDH Senior Managing Director Joe DeHaven brokered the sale.
DEVELOPMENT
Core5 Industrial Partners has broken ground on Effingham Business Center, a two-building, 765K SF industrial complex off Old Augusta Road in Effingham County, less than 10 miles from the Garden City Terminal in the Port of Savannah. The project, which will see warehouses spanning 402K SF and 363K SF is expected to deliver in 2025 with CBRE handling the leasing.
