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MIG Shops for Hotels in Savannah

27 Aug 2015, 1:13 pm

By Ioana Neamt, Associate Editor

Hilton Garden Inn Savannah Midtown

Hilton Garden Inn Savannah Midtown

MIG Real Estate of Newport Beach, Calif. recently acquired two Hilton select-service hotels in Savannah, Ga.

The company purchased the Hilton Garden Inn Savannah Midtown and Hampton Inn & Suites Savannah Midtown, two select-service hotels situated just 3.5 miles from the city’s Historic District and waterfront. The hotels also provide guests with easy access to both the I-516 and I-95. Raleigh, N.C.-based Concord Hospitality Enterprises will operate the two assets.

“We are pleased to add these Hilton select-service hotels to our portfolio, furthering our relationship with the Hilton family of brands,” Greg Merage, CEO of MIG Real Estate, said. “The Hilton Garden Inn and Hampton Inn & Suites in Savannah feature an outstanding location near major hospitals, universities, and businesses in the midtown area with direct accessibility to the amenities and rich history of the city’s downtown.”

The two Hilton hotels are conveniently located in one of the city’s largest commercial areas on Abercorn St., in close proximity to the Hunter Army Airfield, five universities, and two regional hospitals.

Hilton Garden Inn Savannah Midtown opened in 2007 and features roughly 3,500 square feet of flexible meeting space, heated outdoor pool and whirlpool, fitness center, as well as various dining outlets.

The Hampton Inn & Suites Savannah Midtown opened in 2009 and includes 2,000 square feet of meeting space, a fitness center and an indoor pool and spa.

Image courtesy of MIG Real Estate

Buford Logistics Center Developer Stays True to CBRE

25 Aug 2015, 2:22 pm

By Balazs Szekely, Associate Editor

Buford Logistics Center, Phase '

Phase I of Buford Logistics Center

Panattoni Development Company selected CBRE Group as the exclusive leasing agent for a large bulk warehouse development in the Northeast Atlanta submarket.

The Newport Beach, Calif.-based developer purchased approximately 60 acres and plans to develop a 492,000-square-foot cross-dock bulk warehouse, which will be part of Phase II in Buford Logistics Center. The new facility will be built adjacent to the 38-acre, 414,960-square-foot Phase I that was completed this year. The speculative building will feature 36’ clear height, energy-efficient LED and T5 fluorescent lights, and abundant trailer storage. The project is located in Buford, Ga, with easy access to Interstates 985, 85 and 285. The location is 50 miles from Atlanta’s Hartsfield-Jackson International Airport and less than 300 miles from the Port of Savannah, the nation’s most important container terminals and a leading port in TEU (twenty-foot equivalent unit) growth.

The CBRE Atlanta industrial team of Trey Barry, Mark Hawks, Todd Barton and Greg Haynes will market and lease the building. CBRE also leased the Buford Logistics Center Phase I building to full occupancy, according to Dayne Pryor, Local Partner for Panattoni.

Photo credit: Panattoni Development Company

Downtown Business Center Adds Third Restaurant This Year

25 Aug 2015, 2:19 pm

 By Balazs Szekely, Associate Editor

Peachtree Center

Peachtree Center

An office and retail development in Downtown Atlanta, one of the premier dining destinations of the Atlanta food scene, just sealed a deal with a new restaurant. Panbury’s Double Crust Pies is the third restaurant this year to join Peachtree Center’s tenant roster.

Peachtree Center is an office, retail and dining destination comprised of six high-rise buildings, located over a MARTA station and adjacent to two hotels accessible by pedestrian bridges. Miami-based Banyan Street Capital recapped Peachtree Center in 2014 after a nine-year association with the property, and JLL’s Atlanta office leases the project’s more than two million square feet of office space.

Two companies, Tin Lizzy’s Cantina and Gus’s World Famous Fried Chicken already opened their restaurants this summer, and the debut of Panbury’s Double Crust Pies at the Downtown hub is to be expected this fall. The new eateries are joining a varied lineup of dining options, including Aviva by Kameel, which has been named the top restaurant in Atlanta by Yelp.

Photo credit: JLL

NC-Based Investor Grabs Atlanta Landmark Tower

17 Aug 2015, 6:44 pm

By Balazs Szekely, Associate Editor

Centennial Tower, Atlanta

Centennial Tower

A commercial real estate investment and management firm based in Durham is the new owner of an iconic, modernist office tower in Downtown Atlanta. The Dilweg Companies announced the acquisition of the 652,092 square-foot Centennial Tower office building. CBRE’s Institutional Properties team led by Senior Vice President Jay O’Meara represented the seller, Jackson Corporate Real Estate.

The acquisition of the 36-story, Class A skyscraper brings the Dilweg Companies’ Atlanta footprint to more than 1.5 million square feet. Formerly known as 101 Marietta, the office tower was completed in 1975 and renovated in 1998, which resulted in the name change, a new façade and the addition of rooftop elements raising its height from 446 to 460 feet. Major tenants of the building include Turner Broadcasting, Peer 1 Hosting, Oracle, and the Atlanta Hawks—it was 75 percent occupied at the time of sale.

Dilweg plans to invest more than $7 million to upgrade common areas, operating systems and tenant amenities to reposition the property. The firm awarded the leasing and management of Centennial Tower to CBRE. The firm also recently closed on Royal Centre, a 630,000-square-foot office portfolio in Alpharetta, in a joint venture with New York Life. Their Atlanta portfolio includes two further suburban office assets, Barrett Summit in Kennesaw and The Paddocks in Johns Creek.

Sports Gear Manufacturer Raises the Bar in Braselton

17 Aug 2015, 6:07 pm

By Balazs Szekely, Associate Editor

mizuno usa manufacturing

A new golf club is being stamped with the Mizuno logo.

The US subsidiary of a global sporting goods company opened a new high-tech facility in Barrow County to support its accelerated growth goals in the next five years. Mizuno USA fully transitioned all of its distribution and manufacturing operations to a new 520,000-square-foot asset in Braselton. A wholly owned subsidiary of Mizuno Corp., the Norcross-based company manufactures and distributes baseball, golf, softball, running, track & field, and volleyball equipment, apparel, and footwear for North America.

The objective of this transition is to increase the company’s current supply chain footprint, fulfilling and sustaining ongoing business growth, demand and customer base. The new distribution and manufacturing center should consolidate distribution logistics and a technology-enabled packing and shipping process while employing more than 160 full-time positions and offering seasonal work opportunities.

The facility features more than two miles of conveyance, a high-speed merge sorter, zone route technology supported by camera-based scanning technology, three-story high velocity pick module, and a flexible dense picking area on two stories. It also includes all Mizuno golf club manufacturing for the North American market and the new square footage is expected to increase Mizuno USA’s production capacity.

Photo credit: Mizuno Corp.

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