This Week's Atlanta Deal Sheet: Perimeter Summit Sells For $278M
A San Francisco-based real estate investor with holdings in Dublin, New York, Chicago and Montreal has picked up a three-tower office complex in Central Perimeter for $247.5M.
Spear Street Capital bought 1001, 2002 and 4004 Summit Blvd., encompassing 1.25M SF in a complex called Perimeter Summit, in one of the larger office transactions in recent years.
The property, off Ashford-Dunwoody Road overlooking Interstate 285, is home to a dozen tenants, including Beazer Homes, Rooms To Go, Aprio and Zurich North America. JLL Senior Managing Directors Richard Reid, Ed Coco and Ryan Clutter along with Managing Directors Ralph Smalley and Huston Green brokered the transaction for the seller.
A source familiar with the deal said the buildings were sold by State Street Advisors, acting as the agent for their owner, General Electric Pension Trust.
SALES
Brennan Investment Group and Global Gate Capital purchased GreenPoint Industrial Park, a three-building, 522K SF warehouse complex in Dalton, for an undisclosed sum. The properties were sold by Dossche Holdings, according to JLL. Recreational surfaces manufacturer The Recreational Group leases all three buildings.
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ENA Group purchased Centennial Village II, a 118K SF retail strip center in Roswell, from Centennial Village II LLC, an affiliate of New York-based real estate investor Rothenberg-Rosenfield Inc., for a little more than $13M. Bull Realty Vice Presidents Joe Mitchell and Seth Katt and President Will Young brokered the sale. RRI also owns the Marietta Trade Center and Norcross Corporate Park, according to its website.
DEVELOPMENT
Chicago-based Logistics Property Co. has acquired 56 acres in Gainesville from the Gainesville and Hall County Development Authority to launch development of a two-building, 586K SF distribution hub. The developer expects to deliver the project, called the Gainesville 85 Business Center, by the fourth quarter. CBRE Senior Vice Presidents Todd Barton and Mark Hawks, First Vice President Joanna Blaesing and associate Matt Higgins represented Logistics Property Co.
PERSONNEL
A group of former Duke Realty executives has found a new corporate home in the aftermath of the firm's acquisition by Prologis. Reno, Nevada, industrial developer Dermody Properties has named Wes Hardy as its Southeast region partner. Hardy was in charge of Duke's 26M SF portfolio in the Atlanta, Savannah and Nashville markets as senior vice president, according to a press release. Fellow Duke alumni Eric Henrickson, Joe Grant and David Sprinkle are joining Hardy at Dermody as vice presidents of development, as well as administrative assistant Bonnie Catanach, who was at Duke for 16 years. Roughly 300 Duke employees lost their jobs as a result of the merger.
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Cory Chambers has been promoted to the new role of chief commercial officer and senior vice president with Hospitality Ventures Management Group in Atlanta. Chambers has been with HVMG for nearly a decade and previously was vice president for White Lodging.
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Gardner Thompson has been tapped as executive vice president of BCDC, a commercial real estate investment and development firm out of Atlanta. Thompson was previously the chief operating officer and general counsel for Novare Group.
ASSIGNMENTS
JLL Executive Vice President David Horne and associate Alexis Easterling have been tapped by Zeller and Partners Group to market Resurgens Plaza, the 27-story, 403K SF Class-A office tower that sits atop MARTA’s Lenox Station in Buckhead, to office tenants. More than 47K SF at the building are available, including 24K SF on the 24th floor, according to its website.
