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The Deal Sheet

The Deal Sheet

We learned Monday that Cornerstone purchased The Park at Windward Concourse—two Class-A offices totaling 202k SF off Windward Parkway in Alpharetta. (Buying two offices is the best way to avoid making one jealous.)

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The seller was Allegiance Realty. This is the  second major asset that Hartford-based Cornerstone has bought in recent months in the area. In March, we reported the company purchased Preston Ridge I and Windward Fairways I and II from Invesco  for $47M. The price of the latest purchase wasn't disclosed. Cushman & Wakefield's David Meline, Stewart Calhoun, Samir Idris,  and  Casey Masters brokered the sale.

The Deal Sheet

LEASES

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Office furniture supplier Belnick  inked a 169k SF lease at 1360 Joe Frank Harris Parkway in Cartersville for storage and distribution. NAI Brannen Goddard's Mark Sheffield  and  Kevin Caille brokered the deal for the landlord, B&B Realty.

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Fischer Homes has  leased space in Paces Cumberland, a 69k SF office building at 2675 Paces Ferry Rd, marking the first entry for the home builder into the Atlanta market.

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Wanna drink a tall glass of beet-carrot-apple-aloe-ginger juice? Perhaps you have a hankering for celery-kale-spinach-romaine-cucumber-lemon juice? Then check out Roots Juices fresh-squeezed juice bar that inked a deal to open at Shops Around Lenox this month.

SALES

Cousins Properties continues to sell off its industrial land holdings. Recently the REIT sold 124 acres off I-85 and Highway 129 in Jefferson called Jefferson Mill. The land is zoned for retail and industrial use. Bullock Mannelly Partners' Pat Laughlin brokered the deal for Cousins.

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Looks like UHS-Pruitt is on track to buy the former Joel & Associates building in Buckhead to create a rehab center run by the long-term care clinic. According to an email sent to the Huntington and Northwood neighborhood associations from Brookwood Hills Community Club president John Wheeler, UHS-Pruitt has applied for a special-use permit for a medical rehabilitation center for patients. Richard Bowers & Co's Dick Bowers has been tapped to sell the 9,500 SF building for more than $7M.

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Cancer Treatment Centers of America has picked up an  additional 75 acres in Newnan for a possible expansion of its Southeastern regional medical campus. Georgia Healthcare Properties purchased the land for an undisclosed sum, the group that also owns the land housing CTCA's campus. Newnan Crossing Partnership sold the land. Batson-Cook Realty's  Andy Ulsh  and  Jeremy Hammerton brokered the deal for the seller.

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Bull Realty's Daniel Latshaw has been tapped to market nearly eight acres of mixed-use land in the heart of Downtown Lilburn for that city's development authority. The property fronts the new $10 M city hall and library projects there.

DEVELOPMENT

Choate Construction has been tap ped as the  construction manager for the Mercer University College of Pharmacy project. The school plans to develop a 60k SF facility, which includes classrooms, offices, and a  simulated pharmacy. It's scheduled for delivery in May of 2015.

ODDS 'N ENDS

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Cousins is getting all artsy at Promenade in Midtown. The firm plans to install artwork from six artists for permanent display at the tower, including the sculpture above called "Stealth" by Atlanta artist Tristan Al-Haddad that will be facing 15th Street.

MANAGEMENT

Beacon Management Service has been tapped to manage City Side Lofts, an upscale condo development on Pryor Street near Georgia State U.

PEOPLE

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PM Realty has tapped Scott Rees for leasing in its Southeast division, with such assignments as Overlook II, Piedmont Center 14 and One Glenlake. The 30-year CRE vet most recently was running his own firm, Rees Real Estate Advisors.

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Former Choate Construction's Jay Du-Sauzay has joined SK Commercial Realty as a project consultant.

EVENTS

The next Retail Bus Tour is set. The organization plans on a West Metro Atlanta tour this Thursday starting at 7:45 am at Phipps Plaza. The bus departs at 9am.

CLARIFICATION

North American Properties' Mark Toro, during a recent Atlanta CCIM chapter panel, disclosed plans to develop a  conference center and hotel as part of the second phase of Avalon. We should've added that the firm is pursuing an Invitation of Interest (IOI) with the City of Alpharetta to possibly enter into a public-private development partnership in order to do so.

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