Social media giant TikTok was among the companies to lease large warehouse space in Metro Atlanta last quarter.
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TikTok inked a lease for just over 1M SF at Jackson 85 North Business Park, Colliers reported in its third-quarter Metro Atlanta industrial market report. Jackson 85 North is a facility developed last year by Trammell Crow Co. and CBRE Investment Management in Pendergrass, about 60 miles northeast of Downtown Atlanta.
It wasn’t immediately clear what TikTok planned to use the massive warehouse for. The media giant, Trammell and Colliers did not respond to requests for comment.
TikTok, the fifth most-used social media platform globally with more than 2.2 billion users, revealed plans in 2022 to build an international e-commerce fulfillment system, according to an Axios report. That same year, the company agreed to lease an 85K SF warehouse in Dublin, Ireland, RTE reported. And CoStar reported last week that TikTok reached a deal to lease a 251K SF warehouse in the UK for its e-commerce TikTok Shop.
Other big leases in Metro Atlanta include athletic footwear company Nike’s 1M SF lease at Majestic Airport Center IV near Hartsfield-Jackson Atlanta International Airport and Google’s 1M SF lease at The Cubes at Locust Grove, according to Colliers.
LEASES
ECPI University, a professional trade school focused on technology, nursing and culinary arts, leased around 15K SF for a new campus at 3101 Tower Creek Parkway in Cobb County, according to a press release. The Atlanta campus will initially offer programs in cyber and information security technology, mechatronics and electronics engineering.
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The founder of Laughing Skull Lounge is putting the funnybone in Ponce City Market. Marshall Chiles is opening Whiplash Comedy, an elevated 1920s-inspired jazz and comedy club, at 650 North Ave. in Jamestown’s iconic adaptive reuse project in the Old Fourth Ward, according to a press release.
Whiplash will include a main showroom that seats 130 people, a second smaller showroom that seats 40 people and a 3,100 SF outdoor patio serving food and cocktails.
SALES
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Las Vegas-based The Calida Group purchased The Village Highlands apartments at 1789 Ward Circle in East Point for $35.2M from Atlanta-based Urban Realty Partners, according to sales tax records filed with the Georgia Superior Court Clerks' Cooperative Authority database.
The 120-unit property last sold for $29M in 2021, according to Fulton County property records.
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Dallas-based Sonida Senior Living purchased The Addison of Grayson senior living facility from Bridge Senior Living in Florida for $18.1M, according to sales tax records filed with the Georgia Superior Court Clerks' Cooperative Authority database.
Gwinnett County assessed the property value at a little more than $3M this year, according to county records.
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Ziff Real Estate Partners sold Sweet Apple Village, a 62,500 SF retail center, for more than $20M to an undisclosed buyer, the Atlanta Business Chronicle reported. The center, located off Etris Road in Roswell, was nearly fully leased.
Matthews’ Jeff Enck, Kyle Stonis, Pierce Mayson and Boris Shilkrot brokered the transaction, according to the ABC.
DEVELOPMENT
A Hyundai auto parts maker is expanding its West Point manufacturing facility and adding 320 new jobs.
The automaker’s Hyundai Transys will invest $560M to upgrade its existing factory at 6801 Kia Parkway and build a third plant, Georgia Gov. Brian Kemp announced Thursday. The plan makes electrified powertrains for hybrid vehicles.
Georgia Department of Economic Development’s Alyce Thornhill represented the state in incentive negotiations, according to a press release.
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Charlotte-based Northwood Ravin broke ground on Magnolia, a 179-unit student housing apartment complex at 1000 W. Broad St., a mile from the University of Georgia campus in Athens. The project is being developed in conjunction with a new Publix Super Markets store.
Northwood Ravin has begun preleasing units for the 2027-2028 school year, according to a press release.
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