This Week's Atlanta Deal Sheet: Robinson Weeks Hires CBRE Exec As New Chairman
A veteran industrial real estate broker has departed CBRE to become chairman of a prolific Atlanta-based warehouse developer.
Chris Riley is joining Robinson Weeks Partners as chairman to lead the firm’s expansion, with a goal to double its revenue in the next four years. Robinson Weeks founders Ray Weeks and Forrest Robinson, who have been serving as co-chairs, will remain on the board of directors, according to a press release.
Robinson Weeks CEO David Welch will continue his position with the company, which is focused on Southeast and Sun Belt industrial projects.
“With this new leadership team, we are positioning ourselves for growth and for what I’d call the fourth chapter of our company,” Welch said in a statement. “I’m excited to work with Chris and we will continue to value the strategic counsel of Ray and Forrest.”
Riley joined CBRE in 2005 and helped establish the firm’s national partners division five years later, which united five regional industrial capital market practices in key geographies. Pending his end-of-May departure, CBRE named Will Pike president of the industrial capital markets group.
Robinson and Weeks first joined forces in 1979 with Atlanta-based Weeks Corp., which went public in 1994 and then merged with Duke Realty in 1999 to form Duke-Weeks Realty Corp. In 2008, the duo established Robinson Weeks and have since raised more than $1.5B of equity and debt.
PERSONNEL
Colliers tapped Kevin Driver as executive vice president of office leasing in Atlanta, working alongside Executive Vice President Deming Fish. A 15-year commercial real estate veteran, Driver spent 13 years at Stream Realty Partners.
His decision to leave Stream is “timing and opportunity” for him, Driver said.
“I think Colliers really offers me a good path forward and a career for me.”
FINANCING
Southern States Bank originated an $18M construction loan for CCI Real Estate to finance a 64K SF mixed-use redevelopment of the Georgia Baptist Mission Board’s Baptist Collegiate Ministries building on the Georgia Tech campus.
CCI plans to build 55 one- and two-bedroom student apartments, 12K SF of retail and gathering space, including an on-site coffee house at 740 Techwood Drive. Summerhill CRE’s Lance Thurman secured the loan for the developer.
SALES
A joint venture of LX Pantos and the Korean Ocean Business Corp. purchased the warehouses at 128 and 342 Innovation Drive in Dalton from Dossche Holdings for $116.5M. The two distribution centers at Greenpoint Industrial Park are fully leased and total 1.1M SF.
JLL’s Dennis Mitchell, Britton Burdette, Jim Freeman, Maggie Dominguez and Miyeon Lee brokered the sale.
LEASES
Ace Pickleball Club leased 40K SF for its new sports facility at Braelinn Village, a 266K SF shopping center at 400 Crosstown Drive in Peachtree City. The pickleball club is expected to open in August.
CBRE’s Nena Mass and Keelan Twitty are representing Ace Pickleball in its national rollout, which includes 20 new locations expected to open this year.
DEVELOPMENT
The owner of the wooded upscale enclave Serenbe is planning a $1.7B expansion on its remaining 1,532 acres in the city of Chattahoochee Hills, with 1,700 residential units, 235K SF of commercial space, two hotels totaling 180 rooms, and nearly 75K SF in civic spaces, Bisnow first reported.
Serenbe’s real estate arm filed an application with the Georgia Department of Community Affairs this week. Serenby’s Steve Nygren said the firm has tapped JLL to find construction financing for an aging-in-place development and a hotel.
