Canton, Ga. — Acadia Realty Trust has received a $36 million loan for the refinancing of Canton Marketplace, a 335,445-square-foot shopping center in Canton, roughly 40 miles north of Atlanta. The property is 95 percent leased to tenants including Dick’s Sporting Goods, Best Buy, T.J. Maxx and pOpshelf. Mike Ryan, Brian Linnihan, Richard Henry and JP Cordeiro of CBRE secured the financing on behalf of Acadia through Voya Investment Management.
Chamblee, Ga. — terra alma has been selected to curate the vendor lineup at Chamblee Tap & Market, a taproom and micro food hall project currently underway in Chamblee, roughly 15 miles outside Atlanta. Scheduled to open by early 2024, the development will feature Sidecar Coffee and a taproom equipped with 20 taps, as well as three food stalls. Jeff Kimmel and David Heymann are the owners of the property.
Johns Creek, Ga. — Toro Development Co. (TDC) has announced leases with 11 tenants at Medley, a mixed-use project currently underway in Johns Creek, roughly 30 miles northeast of Atlanta. Upon completion, the development will include 200,000 square feet of retail, restaurant and entertainment space, as well as 900 residential units and 110,000 square feet of office space. Tenants will include Little Rey, CRÚ Food & Wine Bar, AYA Medical Spa, Fadó Irish Pub, BODY20, Lily Sushi Bar, Lucciano’s Gelato, Sugarcoat Beauty, Summit Coffee, Knuckies Hoagies and Cookie Fix.
Decatur, Ga. — Edens plans to transform North DeKalb Mall, an enclosed regional shopping mall in the Atlanta suburb of Decatur, into a 2.5 million-square-foot mixed-use development called Lulah Hills. Edens acquired the 622,297-square-foot mall in 2021 and rezoned the 73-acre site in 2022 to allow for mixed-use development. Upon completion, Lulah Hills will comprise 320,000 square feet of retail and restaurant space, 1,700 multifamily units, 100 townhomes and a 150-room hotel. North DeKalb Mall opened in 1965 and served as the first fully enclosed mall in metro Atlanta. Demolition …
Cumming and Kennesaw, Ga. —The Aubuchon Realty Co. (ARC) has acquired two retail properties in metro Atlanta in separate transactions totaling $15 million. ARC purchased Town Center Esplanade — a shopping center located in Kennesaw, roughly 30 miles northwest of Atlanta — from MC Promenade LLC for $9.5 million. Tenants at the property, which was built in 1988 and comprises 39,108 square feet, include Revolving Sushi Factory, J. Christopher’s Café, Three Dollar Café, The Juicy Crab and Ten Seconds Rice Noodle. ARC also acquired a single-tenant property located in Cumming, …
Alpharetta, Ga. — Franklin Street has arranged the $9.4 million sale of Alpha Soda Center, a 14,625-square-foot strip shopping center located in the Atlanta suburb of Alpharetta. An entity doing business as Stonewalk Alpha III LLC sold the property, which underwent renovations in 2021, to an undisclosed buyer. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team brokered the transaction on behalf of the seller.
Stonecrest, Ga. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest located in Stonecrest, roughly 15 miles outside Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. SeaQuest anchors Phase I …
Peachtree Corners, Ga. — North American Properties (NAP) has partnered with Nuveen Real Estate to begin the redevelopment of The Forum Peachtree Corners. The partnership, which acquired the shopping center in March 2022, plans to deliver the redevelopment in phases, beginning with retail- and pedestrian-focused upgrades. Upon completion, the project will include a 125-room boutique hotel, 381 apartments, experiential retailers, eateries, structured parking and new public spaces. In addition to these uses, the developers will implement concierge services and valet offerings.
Roswell, Ga. — iBorrow has provided a $15.6 million loan for the acquisition of a retail center located in Roswell, roughly 20 miles north of Atlanta. Totaling 56,921 square feet, the property is leased to 13 tenants. The borrower was not disclosed.
Newnan and Ellenwood, Ga. — CBRE has brokered the sales of two retail strip centers totaling approximately $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located in Newnan, and Ellenwood Plaza, a 9,450-square-foot property located in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman …
