AGCO Keeps Roots In Duluth: The Atlanta Deal Sheet
An agricultural giant sees value in keeping its headquarters in a suburban Atlanta city.
AGCO Corp. renewed its headquarters at 4205 River Green Parkway, a two-story, 125,800 SF office building in Duluth, a location it has been in since 1990. The tractor-maker employs some 500 people at its headquarters, The Atlanta Journal-Constitution previously reported.
AGCO CEO Eric Hansotia told the AJC that the Duluth headquarters has been ideal in the firm’s ability to attract and recruit new talent.
“We get good access to talent here with (Georgia’s) university system,” he told the AJC. “And we can draw talent globally into this area.”
Colliers’ Deming Fish, Emily Richardson and Mark Maggard represented the landlord, Orion Properties, according to a press release.
LEASES
SouthState Bank finally occupied its 87K SF regional headquarters at Prominence in Buckhead, moving from Resurgens Plaza. The lease, inked nearly a year ago, marks a 22% increase in its office space. The bank will also get signage atop the 19-story tower owned by New York Life Real Estate Investors.
Partners Real Estate’s Andy Sumlin and Aileen Almassy brokered the deal for the landlord, while JLL’s Josh Hirsh and Patrick Baughman represented SouthState.
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Piedmont Pediatrics inked a 15K SF lease at 2021 Peachtree Medical, a 72K SF outpatient medical building on Peachtree Road in Buckhead. The pediatric practice will occupy the fourth floor of the facility, situated across from Piedmont Atlanta Hospital and Shepherd Center.
Transwestern’s Steve Hall, John Lopez, Bo Stuart and Marsh Hazelhurst represented the landlord. The Gipson Co. JLL’s Jeremy Adams represented Piedmont.
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AT&T is in final negotiations to lease 166K SF at Northpark Town Center, the three-building office campus off Abernathy Road in Central Perimeter, Bisnow first reported last week.
It was the latest office deal for the telecom company in the area. Last year, AT&T signed a lease for nearly 206K SF at the 1055 and 1057 Lenox Park Blvd. buildings in the Lenox Park office complex near Buckhead. Two years ago, AT&T signed a 120K SF lease for 1277 Lenox Park.
FINANCING
Thor Equities obtained a $71.7M loan to refinance its Gordon Logistics Center, a 1M SF manufacturing facility in Adairsville. Benefit Street Partners provided the floating-rate, two-year loan for the landlord.
JLL’s Peter Rotchford, Bobby Norwood, David Sitt, Christopher Pratt, Hamp Gibbs and Streeter Simmons arranged the financing.
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The Hallmark Cos. obtained an $18.5M Fannie Mae loan to finance its $25.1M purchase of Live Oak Plantation, a 208-unit apartment complex off Waters Avenue in Savannah. The previous owner, Live Oaks 3WG LLC, purchased the property for $15.2M in 2023, according to Chatham County property records.
The garden-style apartment complex, built in 1971, is 10 miles south of Downtown Savannah. Newmark’s Brooks Colquitt and Christopher Lyon brokered the deal for the seller, and Carter King secured the financing.
SALES
MDH Partners purchased 780 Hartman Road, a 247K SF warehouse leased to SupplyOne. The buy was part of a $165M portfolio purchase by MDH that involved five other distribution facilities across the Midwest and Southeast, totaling 1.5M SF.
MDH’s Houston Hawley brokered the sale for the buyer.
Other properties include a 70K SF warehouse leased to Compass Group USA in Miami, a 68K SF facility leased to GE Aerospace in Cincinnati, and a 303K SF distribution facility leased to Hims in Columbus, Ohio.
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ForCast Real Estate Development and Atlanta-based Brent Holdings sold Fischer Marketplace, a newly developed 70K SF Publix Super Markets-anchored shopping center in Sharpsburg, for $26.9M to an undisclosed 1031 exchange buyer out of California, according to a press release.
Hanley Investment Group Real Estate Advisors’ Kevin Fryman and Ed Hanley brokered the deal for the buyer, while Faris Lee Investments’ Hunter Steffien and Franklin Street’s Bryan Belk and John Tennant brokered for the sellers.
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An LLC tied to Atlanta-based TriBridge Residential purchased 1016 Lofts, a 265-unit apartment complex off Howell Mill Road in West Midtown, for $54.5M from Bel Howell Mill Holdings, an LLC linked to Boston-based Eaton Vance, a subsidiary of Morgan Stanley, the Atlanta Business Chronicle reported.
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Columbia Properties bought the Village at Westfork, a 76K SF Kroger-anchored neighborhood shopping center off Thornton Road in Lithia Springs, from KPR Centers for $14.2M. The property is fully occupied by tenants including JPMorgan Chase, H&R Block and Cricket Wireless. Kroger has been an occupant at the Village at Westfork for more than 30 years, according to a press release.
KPR purchased the center in 2017 for $11.6M, according to Douglas County records.
JLL’s Jim Hamilton, Brad Buchanan, Andrew Kahn and Charlie Merrigan brokered the sale.
DEVELOPMENT
Atlanta-based Vista Residential Partners broke ground on Mill Grove Vista, a 304-unit garden-style apartment complex off Floyd Road in Mableton, the Atlanta Business Chronicle reported. The project is rising on 16 acres previously owned by former Georgia Gov. Roy Barnes.
Vertical construction is slated for next year, with delivery in 2027.
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Dream Capital Management and Dalton-based Five Star Group are planning to break ground on a 144-room AC Hotel in Downtown Decatur next year, the Atlanta Business Chronicle reported. The six-story hotel will rise at 701 Church St.
