This Week's Atlanta Deal Sheet: Former Peloton CEO's New Company Signs First Manufacturing Deal
The co-founder of Peloton has grabbed a sizable warehouse in Metro Atlanta for his new custom rug company.
Ernesta, which John Foley founded last year with $25M in venture capital, signed a 110K SF lease at Busch Logistics Park in Cartersville for a manufacturing center. The 209K SF facility at 1187 Cassville White Road off Interstate 75 is the first manufacturing facility for Ernesta since its founding.
CBRE Senior Vice President Matt Von der Ahe and associate Scott Slappey represented Ernesta. The landlord, Hines, was represented by JLL.
Foley and two Peloton co-founders, Hisao Kushi and Yony Feng, teamed up to start this latest direct-to-consumer rug business, which plans to hire up to 50 people in Georgia. Foley left Peloton in 2022 after its stock tanked in the aftermath of a huge early pandemic boost, forcing it to cut staff and senior execs as it lost subscribers.
LEASING
Fadó Irish Pub & Restaurant, celebrity chef Ford Fry’s Little Rey and CRU’s Food & Wine Bar are part of the initial lineup of retailers and restaurants at the Medley, a 43-acre mixed-use project by Toro Development Co. in Johns Creek, according to a release. The project is under construction and will offer 200K SF of retail, 900 residential units and 110K SF of office.
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Healthcare technology company Artelon has inked a 21K SF lease for its headquarters and Buckhead Blueprint leased 10K SF at Northridge Commons, a seven-building office campus at 8601 Dunwoody Place in North Fulton County. Transwestern Executive Managing Director Greg Frankum, Senior Managing Director Matt Spickard and associate Ansley Chenault represented the landlord, Dilweg Cos., in the deals.
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Swedish electric vehicle maker Polestar has opened its first Metro Atlanta showroom at The Battery at Truist Park Atlanta. The 2,400 SF showroom is owned by Sonic Automotive, according to a press release.
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Coworking operator Regus has inked a full-building lease at 1372 Peachtree St. for its Spaces operation. The 38K SF building underwent a $7.5M capital improvement program. Lincoln Property Company Southeast Vice President Michael Howell, Executive Vice President Hunter Henritze and Vice President Caroline Fisher brokered the deal.
SALES
DeVanDylan Capital Partners purchased the Willow Park Apartments in Forest Park for $10.3M. The 108-unit complex at 1466 Rockcut Road encompasses 14 buildings on 10 acres just 3 miles from Hartsfield-Jackson Atlanta International Airport. The seller wasn't disclosed. DeVanDylan Capital Partners is an Atlanta-based investment firm started by former New York real estate executive Steve Morrows.
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Aubuchon Realty Co. purchased Town Center Esplanade, a 39K SF shopping center at 2700 Town Center Drive in Kennesaw, for $9.5M from MC Promenade, which purchased the property just over a year prior for $7.5M. The center’s tenant lineup includes Revolving Sushi Factory, J. Christopher’s Cafe, Three Dollar Cafe and The Juicy Crab.
