This Week's Atlanta Deal Sheet: Grady Goes To Lee + White
Ackerman & Co.’s West End mixed-use project is just what the doctor ordered for its latest tenant.
Grady Health System inked a 16K SF lease in Building 1000 at Lee + White for a new outpatient center, part of the overall 443K SF adaptive reuse project of a former string of warehouses just south of the Mall at West End. The project is set to include a 19-vendor food hall, 200K SF of creative office and additional retail spaces.
The new health center, which will provide primary care and specialty services such as cardiology, HIV services, mammograms, X-rays, labs and a pharmacy, is part of the health system’s efforts to expand into the communities beyond its Downtown Atlanta hospital. Grady also leased 9K SF at Cascade Outpatient Center at 3355 Cascade Road — a medical office building 5 miles west of Lee + White, also owned by Ackerman — for an additional clinic.
Cushman & Wakefield Senior Director Porter Henritze and associate Melanie Garlock represented the landlords, Ackerman and its joint venture owner MDH Partners, while DTSpade President Bryant Cornett represented Grady. Ackerman Senior Vice President Frank Farrell represented Ackerman in the Cascade lease.
Grady is the latest major tenant at Lee + White, which is slated to open later this year. Last year, nanotechnology company Carbice inked 23K SF for its headquarters in Building 1050 and renewable energy producer JTEC signed a 19K SF lease for a new lab and collaborative office.
ASSIGNMENTS
Data center operator DataBank has tapped Brasfield & Gorrie as the contractor for its new 200K SF data center called ATL4, located at 200 Selig Drive, 20 minutes from Downtown Atlanta. The colocation facility is expected to have 40 megawatts of data center capacity and will use dark fiber to tether with DataBank’s ATL2 and ATL3 facilities.
PERSONNEL
Peachtree Hospitality Management has appointed Kathleen “Kat” James as vice president of sales, overseeing the growth of the firm’s portfolio of hotels and profitability. James will report to PHM Senior Vice President Vickie Callahan.
Before joining PHM, James was a senior sales director for Sonesta International Hotels.
***
Cushman & Wakefield promoted Molly Millard to head its Atlanta office tenant representative practice, overseeing 30 brokers and employees and leading the team’s growth and financial performance. Millard joined Cushman & Wakefield in 2020 as a tenant rep.
SALES
Wentworth Property Co. purchased a portfolio of three Atlanta-area self-storage facilities from an undisclosed private seller for $43.5M. The portfolio is made up of 2600 Lawrenceville Highway and 1475 Grayson Highway, both in Lawrenceville, and 3950 Five Forks-Trickum Road in Lilburn, encompassing a total of 242,500 SF and 1,900 storage units. CBRE Vice Chairman Nick Walker and Senior Vice President Morgan Windbiel brokered the sale.
FINANCE
New York-based Greystone issued a $10.3M Fannie Mae loan for Park Estates FO’s acquisition of Park Estates, a 100-unit garden-style apartment complex off Maple Valley Road in Decatur. The loan is nonrecourse and interest-only, with a fixed rate for five years. Park Estates FO purchased the complex in February for $11.4M from Sureste Park Estates, according to Reonomy.
Greystone Senior Managing Director Dan Sacks and Managing Director Avi Kozlowski arranged the financing.
DEVELOPMENT
Stein Investment Group has filed an application with the city of Atlanta to develop a two-story, 43,500 SF climate-controlled self-storage building at 786 Cleveland Ave., expanding an existing storage complex in Southwest Atlanta. According to the application, Stein plans to spend $3.8M developing the facility.
