Rivian To Open East Coast HQ Next To The BeltLine: The Atlanta Deal Sheet
Electric car maker Rivian is establishing an East Coast headquarters on Atlanta’s Eastside.
Rivian is taking the top floor and lobby space at Junction Krog District, a 135K SF office building along Auburn Avenue and the Eastside BeltLine Trail, the company announced Thursday. It plans to eventually employ 500 workers in the building, which was developed by Portman Holdings in 2023.
The lease, which includes signage atop the building, spans 45K SF, The Atlanta Journal-Constitution reported.
“We will begin hiring for this office later this year and plan to share more information on hiring and career opportunities soon,” the company said in the release. “This office will serve as an urban hub for the state-of-the-art manufacturing facility we’re building just outside the city in Social Circle.”
After putting construction of the 9M SF facility on indefinite hold earlier last year, Rivian obtained a $6.6B loan from the U.S. Department of Energy under the Biden administration and restarted development on the 2,000-acre site spanning Morgan and Walton counties.
The plant is expected to produce 400,000 of Rivian’s R2 midsize SUV and the R3/R3X midsize crossover vehicles per year and employ 7,500 workers.
LEASES
The Metro Atlanta Chamber renewed its 25K SF lease for another 12 years at 191 Peachtree Tower, The Atlanta Business Chronicle reported. The deal follows Banyan Street Capital’s announcement that it would invest $4.5M to renovate the atrium, lobby and other facets of the 50-story Downtown building.
JLL’s Josh Hirsh and Ryanne Pennington brokered the deal for the chamber, according to the ABC.
DEVELOPMENT
Portman is breaking ground this month on Meadow Glen Village, a 332-unit mid-rise apartment project in Fairburn, after purchasing the site this week, the company announced. The project will include 6K SF of retail flanking a public green space.
The nine-building development is expected
Suburban apartment developments are out of the norm for Portman, which typically focuses on urban infill projects. But Portman Managing Director Harvey Wadsworth said in a statement that the firm has shifted its strategy more toward the suburbs.
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Bread and packaged food maker King’s Hawaiian is investing $54M to expand its 150K SF manufacturing facility in the Oakwood South Industrial Park in Hall County, Georgia Gov. Brian Kemp announced Thursday. The project will add a new production line to the facility that will make additional flavors of King’s Hawaiian Pretzel Bites and will start up in the second quarter of 2026, adding an additional 135 jobs.
Georgia Department of Economic Development’s Brandon Lounsbury represented the state in incentive negotiations.
FINANCING
CCI Real Estate obtained a $67M construction loan to redevelop the Baptist Collegiate Ministries building at the University of Georgia in Athens into a student housing and retail project called 290 Lumpkin.
The eight-story building will offer 243 one- and two-bedroom apartments with 353 beds, a 356-space parking deck, a student lounge, offices and new ministry space as well as offices for the Baptist Collegiate Ministries organization.
New South Construction was tapped as the general contractor. 290 Lumpkin is expected to deliver by summer 2027.
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Lightstone Capital provided an $8.5M loan to Green Dock Partners for the acquisition of a 207K SF single-story industrial building at 3200 Lakewood Ave. in Atlanta. The total purchase price was not disclosed and Fulton County is not reflecting sales records as of press time.
SALES
RSN Property Group and Monday Properties acquired Audubon Crest, a 126-unit garden-style apartment complex in Oakwood, for an undisclosed sum. The complex is 50 miles northeast of Downtown Atlanta along Interstate 985.
The apartment complex has been rebranded as Alessia Gardens. It was previously owned by Florida-based Oakwood 101 GA LLC, which purchased the property in 2020 for $14.2M, according to Hall County property records.
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Crow Holdings purchased 35 acres at the Artisan Crossing master-planned industrial park from Artisan Land Cos. for an undisclosed sum. The developer plans to build a 425K SF cross-dock warehouse facility. Artisan assembled the 40-acre site in 2020 for $1.2M.
Artisan continues to own and market the 5 additional acres for retail users. SSG Realty Partners’ David Branch and Scott Jones brokered the sale for Artisan Land, while Brighton Property Group’s Stuart Bracey represented Crow Holdings, Branch confirmed to Bisnow.
Carroll County records didn't reflect a sales price as of press time.
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Banyan Street Capital acquired the Atlanta Financial Center for an undisclosed sum from Sumitomo Corporation of America. Green Street’s Real Estate Alert previously reported that Banyan Street acquired the $122.5M debt tied to the 915K SF complex for less than half of its face value. An executive for Banyan Street told Bisnow the firm could look to tear down part of the three-building office property.
