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New Warehouse near Hartsfield-Jackson Prepares for Takeoff

3 Aug 2015, 2:25 pm

By Balazs Szekely, Associate Editor

Camp Creek Business Center

Camp Creek Business Center

Duke Realty Corporation is about to add a new industrial building to the existing lineup at Camp Creek Business Center. The company plans to build a new 614,880-square-foot bulk warehouse within the business park, which already includes 2.9 million square feet of industrial and office buildings. Located southwest of Atlanta just off I-285, near Hartsfield-Jackson International Airport, the 400-acre Camp Creek Business Center is one of the newest and largest developments of its kind in the Atlanta metro area.

Built on a speculative basis, the new construction will be located on a 33.11-acre parcel at 4909 North Commerce Drive in East Point. The cross-dock building will include 36-foot clear height, 54 by 50-foot column spacing and 125 dock doors. It will be served by two points of ingress/egress, 337 automobile parking spaces and 125 trailer parking spaces. Land immediately adjacent to 4909 North Commerce Drive will foreseeably be leased out to companies looking for a contiguous site for future truck courts.

The new industrial asset is scheduled for delivery in January 2016.

Photo credit: Duke Realty Corporation

Queen City Investor Takes Another Bite from The Big Peach

3 Aug 2015, 1:36 pm

By Balazs Szekely, Associate Editor

Parkway Pointe

Parkway Pointe

An employee-owned real estate investment management company headquartered in Charlotte, NC has acquired its second retail property in Atlanta. FCA Partners purchased Parkway Pointe for $43.9 million. The 196,664-square-foot retail center is the company’s highest performing retail asset in metro Atlanta to date. The property changed hands on June 25 and Eastdil Secured represented the seller, Stockbridge Capital.

Located within Atlanta’s Cumberland Galleria submarket, Parkway Pointe is less than one mile from SunTrust Park, the future home of the Atlanta Braves. The center is situated in the northeast quadrant of the intersection of Cobb Parkway and Cumberland Boulevard and benefits from immediate access to Interstate 75. It has established itself as a premier entertainment destination serving Atlanta’s Buckhead and Vinings neighborhoods.

The property is currently home to tenants like AMC Theatres, Main Event Entertainment, Taco Mac, Copeland’s of New Orleans, Pier 1 Imports and Roam. FCA Partners is seeking junior box retailers for the two remaining units of 12,000, respectively 18,000 square feet, that offer signage visibility from Cobb Parkway.

 Photo credit: FCA Partners

The Related Group Sets Eyes on Midtown Atlanta

29 Jul 2015, 6:37 pm

By Balazs Szekely, Associate Editor

related group midtown mixed use rendering

Rendering of the new project

Miami-based The Related Group announced plans to deliver a brand new luxury property in the heart of Midtown. The developer joined forces with an Atlanta-based architecture firm and a local designer to bring a high-end mixed use project to life at the corner of 14th St. and West Peachtree St. The luxury high rise apartment building will feature a retail component anchored by a 70,000-square-foot multi-level Whole Foods store.

Rising 38 stories, the 390 luxury apartments will offer unique views of the Atlanta skyline and—in addition to direct lobby access to Whole Foods and other planned retail—residents will be just steps away from some of the city’s premier offices, dining and shopping destinations  as well as the city’s art district.

Award-winning Smallwood, Reynolds, Stewart, Stewart is the project architect and Atlanta designer Michael Habachy of Habachy Designs will create the interiors including a grand rooftop clubroom, state-of-the-art demonstration kitchen, luxurious South Beach-themed 10th floor pool and more. Atlanta-based Phillips Partnership will design the Whole Foods Market.

Image courtesy of The Related Group

Gilbane to Bring Poncey-Highland Area Project to Life

28 Jul 2015, 6:30 pm

By Balazs Szekely, Associate Editor

Rendering of 675 N Highland in Atlanta

Rendering of 675 N Highland

A local developer, Abraham Properties selected Rhode Island-based Gilbane Building Company to manage the construction of a 300,000 square-foot project featuring high-end residential, retail and restaurants on North Highland Avenue in the Poncey-Highland neighborhood of Atlanta.

The contractor is a global leader in construction and facilities-related services. The privately held, family-owned company has been involved in construction projects in the Atlanta area, such as the Carbon-Neutral Energy Solutions Laboratory for Georgia Tech, the Restoration Hardware Design Center and the Houston Health Center. Founded in 1873, Gilbane has more than 50 office locations around the world.

The mixed-use development will be called 675 N Highland and it will include 12,000 square feet of street-level retail and restaurant space, 7,000 square feet of store-front office space along Blue Ridge Avenue, 125 high-end residential units, and a parking garage with 385 spaces. Demolition and mass grading are already complete and foundations are underway to make way for the $25 million project.

Construction is slated for completion in late summer of 2016.

 Image courtesy of Gilbane Building Company

Reborn Two Live Oak to Resemble its Sister Building

27 Jul 2015, 8:08 pm

By Balazs Szekely, Associate Editor

The Pinnacle - Two Live Oak - Atlanta

The Pinnacle and 3445 Peachtree

As CPE reported earlier this year, Atlanta-based The Brookdale Group entered the Buckhead submarket by purchasing both The Pinnacle building and Two Live Oak in January—the new ownership now commenced a major capital improvement program at the latter, which was renamed 3445 Peachtree since the acquisition.

According to DTZ, the provider of agency leasing services at 3445 Peachtree, the multimillion dollar renovation will include significant upgrades to the main lobby, common areas, vertical transportation system and the exterior and grounds of the 14-story, 287,000 square foot building. Niles Bolton Associates has been selected as the architect for the renovations and the building’s property management firm, Transwestern, will provide construction management services. The reborn lobby and common areas are designed to match those found in The Pinnacle with backlit glass panels, polished stainless steel, wood panels, terrazzo stone flooring and a new concierge desk. The lobby upgrades are expected to be finished in October 2015 and the remaining renovations will be completed in early 2016.

Originally built in 1969, 3445 Peachtree is now Energy Star rated for its operating efficiency and, much like The Pinnacle, offers its tenants an extensive list of on-site amenities including a full-service restaurant, two cafes, a fitness center, a car wash and a dry cleaner.

3445 Peachtree is currently 82% leased to 23 national and regional tenants.

 Photo credit: The Brookdale Group

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