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Ridgeline Property Group Builds 714.5-KSF Industrial Property in McDonough

15 Dec 2014, 4:27 am

By Balazs Szekely, Associate Editor

Ridgeline Property Group has recently announced to develop an industrial speculative building in McDonough, encompassing 714,560 square feet. Clarion Partners will be RPG’s capital partner for the project.

RPG, a privately held commercial development and investment firm, has developed in excess of 100 million square feet  of industrial and office space throughout the US since its inception. The company’s Henry County portfolio already embraces around 5 million square feet of investment grade industrial buildings, most of them in the I-75 South corridor. These include the 1.5 MSF distribution center for The Whirlpool Corporation, a similar 900,640 square-foot facility used by Georgia-Pacific and Kumho Tire’s 412,000 square-foot building.

The 53-acre site of McDonough Commerce Center, how the new facility will be called, is located on Avalon Parkway a quarter-mile from Exit 216 and less than 1.5 miles from Exit 218, with frontage along I-75. It is zoned M-1 Industrial and it is DRI entitled with all utilities connected. The cross-dock building will include 116 dock doors, four drive-in doors and 160 trailer parking spaces that can later be expanded to 240. The class A construction will also offer 36-foot clear heights, 56-foot-wide bay spacing, all concrete truck courts, ESFR fire suppression and 431 car parking spaces.

Ben Logue and Price Weaver of Colliers International’s Atlanta office have been selected to market the property once it is finished. The project is scheduled to be delivered in late-summer 2015.

Photo credits: Ridgeline Property Group

The Clairmont Changes Hands, Rebrands as Madison Brookhaven

8 Dec 2014, 6:14 am

By Balazs Szekely, Associate Editor

The 288-unit The Clairmont multifamily community in Atlanta was recently picked up by affiliates of Equus Capital Partners, Ltd., the company announced. The property has been renamed Madison Brookhaven,  the acquisition was made on behalf of a discretionary fund managed by Equus, BPG Investment Partnership IX, LP commonly referred to as ‘Fund IX’.

Headquartered in Philadelphia, Equus is one of the nation’s leading private equity real estate fund managers, with a portfolio comprising over 24 million square feet of office, retail and industrial space and close to 15,000 apartments in over 55 communities throughout the U.S. It has regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham.

Located in an infill area in Brookhaven, around 5 miles east of Buckhead, the community is just half a mile from the Clairmont Road interchange of Interstate 85. This allows for convenient access to employment centers in Buckhead and Midtown. It is also in close proximity to Emory University and the Centers for Disease Control. The nearly all-brick garden style community features 288 apartments with up to two bedrooms and an amenity package including a clubhouse, fitness center, two pools and a dog park.

Equus plans to invest nearly $3 million over the coming months to improve the property. The list of upgrades includes substantial improvements to the community amenities along with extensive interior upgrades.

Equus’ multifamily operating arm, Madison Apartment Group will manage Madison Brookhaven. The community was approximately 95 percent occupied at the time of closing.

Photo credits: Madison Apartment Group


Atlanta Tech Village Completes 103,000-Square-Foot Facility

1 Dec 2014, 7:02 pm

By Balazs Szekely, Associate Editor

Atlanta Tech Village has recently announced the build out completion of a 103,000 square foot building in Buckhead. The recently finished building offers members – or Villagers as they call themselves – event and meeting spaces totaling 10,000 square feet, 50 individual coworking desks, 63 private offices and 44 multi-room suites. It has the capacity to house up to 800 individuals.

Atlanta Tech Village is a community hub housing the largest coworking office environment for emerging tech companies and startups in the Southeast.  Given its reach throughout Atlanta’s startup ecosystem and the broader southeast business community, the Village is established as an economic catalyst with the goal of creating 10,000 jobs over the next 10 years. Through this year, it has grown to house hundreds of members, and currently it is home to over 200 startups. Since its inception, the Village has provided shelter for a number of successful startups in the city such as Insightpool, Yik Yak and BitPay.

David Cummings, founder of Atlanta Tech Village considers the completion an important milestone for the evolution of the Village.

“We set out on this journey in December 2013, working alongside our partners and contractors to transform a traditional office building into an inspiring and modern place to build technology businesses, and together we have done just that. Our success can be measured in the number of people who call themselves Villagers and I am proud of the team that worked all hands on deck since the beginning to make this dream a reality for us and all of the startups housed under our roof,” Cummings said, according to a written announcement

Photo credits: Atlanta Tech Village           

New Walton Communities Project Comes to the Market

24 Nov 2014, 6:52 pm

By Balazs Szekely, Associate Editor

The Legacy at Walton Mill, a new 55-plus active adult Walton Communities development has begun pre-leasing.

Walton Communities is a privately held company that develops, owns and manages apartment communities throughout Metro Atlanta and Augusta. Based in Marietta the company currently operates 30 residential properties in Georgia, most of them located in Atlanta’s northwestern suburban areas.

Located in Metropolitan Atlanta’s Hiram submarket, The Legacy at Walton Mill features 105 senior apartments within walking distance from a variety of shopping and dining destinations.

The property boasts a wide selection of amenities such as a courtyard, planned community events, fitness center, movie theater, grilling areas, theatre, a club room, laundry facilities and in-home washer and dryer connections. The smoke-free and pet-friendly controlled access community also offers residents a legacy center featuring a lending library, complimentary Wi-Fi, energy-efficient appliances, and all units come pre-wired for modern home office technology and high speed internet.

While The Legacy at Walton Mill is currently under construction, the first apartments will be ready for occupancy in early February 2015 according to the developer.

Photo credits: Walton Communities

Fortune 100 Data Center in Metro Atlanta Sold by Lincoln

14 Nov 2014, 8:52 pm

By Balazs Szekely, Associate Editor


A Lincoln Property Company Southeast team that included Tony Bartlett, Denton Shamburger and Chip Sipple represented Datawind LLC, the seller of a 184,553-square-foot data center in a $50 million transaction that took place this September, the group announced recently.

Based in Dallas, Lincoln Property Company is one of the nation’s largest diversified commercial real estate groups. The company has more than 6,800 employees in 32 States and 10 countries in Europe; it has developed over 128 million square feet of commercial property and 209,000 apartment units since its 1965 inception. It also has more than 350 million square feet of assets in its management portfolio.

The data center was sold to Carter Validus Mission Critical REIT in a direct transaction. Located on a 21-acre site in Windward Concourse Office Park in Alpharetta, the data center is currently fully occupied by an AA+ rated credit tenant on a long-term lease. The building was originally constructed in 1986 for Contel Corporation and Datawind LLC purchased the property in 1992.

“This property generated a very high level of interest in the marketplace due to the credit worthiness of the tenant, the importance of the facility and the location within the submarket,” says senior vice president Tony Bartlett, according to a written announcement released by Lincoln’s Atlanta office.

Known as the “Technology City of the Southeast,” Alpharetta is located in metro Atlanta’s North Fulton submarket which is home to one of the highest concentrations of corporate data center facilities in the region. The submarket’s educated labor force, fiber optic networks and abundant power supply have made this area popular and exceedingly suitable for data centers.

Illustration: Victorgrigas via Wikimedia Commons

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