SALES
RADCO purchased Defoors Ferry West, a nearly 300-unit apartment community in Atlanta for $16M. “Our plan for Defoors Ferry is to rebrand and reposition the property as Ashford 2788,” says RADCO's Norman Radow (above).
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Cushman & Wakefield's David Meline, Stewart Calhoun, Samir Idris and Casey Masters brokered the sale of The Lonza Building, a 94k SF single tenant R&D office in Bluegrass Office Park for OA Development.The buyer was American Realty Capital Properties for an undisclosed price. Pharmaceutical company Lonza America has leased the facility through 2025.
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Physicians Realty Trust purchased Peachtree Dunwoody Medical Center, a 131k SF MOB on Pill Hill, for $36.6M from North American Property Corp, according to docs filed with the SEC. The building is 96% occupied with Northside Hospital as the largest tenant.
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Physicians Realty Trust also recently purchased four family-practice MOBs throughout the metro area, including one in Jackson, one in Conyers, and two in McDonough, totaling 69k SF for $20.8M. The buildings have been leased back to Eagles Landing Family Practice for 15 years, according to docs filed with the SEC.
LEASING
Docufree Corp has inked a 15k SF deal at Northmeadow Business Park in Roswell (repped by Benchmark Commercial's David Payne). NAI Brannen Goddard's David Beck and Stephen Pond brokered for the landlord, Equus Capital Partners.
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NAI BG's David and Stephen also brokered deals at Northmeadow Business Park with Johnson Controls (for 36k SF with USI Real Estate Brokerage Services' Mark Daughtry); Arrow Electronics (for 42k SF with CBRE's Kevin Carroll); and Hope Industrial Systems (for 26k SF with William Leonard & Co's Bill Leonard).
CONSTRUCTION & DEVELOPMENT
Oakmont Industrial Group filed plans with regional planners to develop a 617k SF warehouse facility off White Road and Roosevelt Highway in South Fulton County. According to DRI docs, Oakmont states the facility will be complete in 2016.
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Ellard Mercantile Exchange, a 34k SF neighborhood strip center at 8470 Holcomb Bridge Rd, was picked up by QS America Real Estate for $3.8M. NY-based Northlight Investment Partners sold it on a 6.5% cap. Bull Realty's Darrell Chapman brokered the sale.
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FedEx Trade Networks has tapped Duke Realty Corp to develop a 77k SF build-to-suit facility at Camp Creek Business Center in East Point. The facility will serve as a distribution and sales center for the company, which inked a long-term lease. Duke's Wes Hardy brokered the deal for the developer while Fischer & Co's Chris White and Mark Yankello brokered the deal for FedEx.
EXECUTIVE MOVES
Cassidy Turley has tapped Jyoti Ganesh as managing director of its corporate services group, leading the portfolio strategy for SunTrust Bank's 14M SF portfolio. Jyoti previously worked for Altisource.
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Here we have Cushman & Wakefield's John O'Neill welcoming the firm's newest hire, Bayne Porter, who has been named as executive director of the industrial services group. Bayne, a 20-year vet, jumps to C&W from CBRE, where he was a regular top producer.
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Holly Hughes has been hired by Colliers International as CEO of its facility and property management division. The 17-year CRE vet joins Colliers—with a 35M SF portfolio—from Cassidy Turley.
EVENTS
After some snow delays, Novare Group is finally holding its groundbreaking ceremony for SkyHouse Buckhead, the $72M high-rise luxury apartment tower in Buckhead this Thursday morning at Maggiano's Little Italy.
