Early this week in the Southeast, regional submarkets saw plenty of action. From refis, to new hires, to big leases and beyond, the commercial real estate activity was robust out of the gate.

BY THE NUMBERS

While annualized effective multifamily rent growth in Atlanta moderated to 2.1% nationally, western markets with heavy ties to technology employments saw the strongest gains. Over 370,000 multifamily units are expected to be delivered nationally in 2017. However, in the past 12 months the majority of new supply has been concentrated in the top 15 markets. (Source: ARA Newmark)

NEWS & NOTABLES

ATLANTA—NAI Brannen Goddard hired veteran Atlanta broker Bill Kee as senior vice president. Kee specializes in industrial, and will focus on tenant and landlord representation. With over 30 years of commercial real estate experience, he has completed more than $1 billion in transactions and his extensive background includes senior-level tenures at JLL, CBRE, and Trammell Crow. Kee is a Top Ten Producer and a Life Member in the Atlanta Commercial Board of Realtors Million Dollar Club. He is also a member of the Society of Industrial and Office Realtors, National Association of Industrial and Office Properties, and the Atlanta Commercial Board of Realtors.

DEAL TRACKER

HAMMOND, LA—Arbor Realty Trust funded a $13.47 million for the refinance of Tangi Lakes Townhomes in Hammond under the Fannie Mae Standard DUS Loan program. Austin Walker, originations sales associate in Arbor's New York office, originated the deal. The 10-year refinance loans amortizes on a 30-year schedule. Tangi Lakes Townhomes is a 185-unit multifamily property built in 1999 located in Southeastern Louisiana.

ATLANTA—Cushman & Wakefield arranged a 38,794-square-foot lease at Marquis I, part of Peachtree Center located in the heart of in Downtown Atlanta, for the State Road & Tollway Authority (SRTA) to consolidate its two locations into one and expand its office and retail operations. The Georgia Regional Transportation Authority (GRTA) is merging with SRTA at the new office, which will offer a fresh design and efficient, collaborative space. The lease includes 2,394 square feet of retail space and 36,400 square feet of office space. Mike Werner, Davie Horne and Kay Younglove with JLL represented the landlord, Banyan Street Capital.

ATLANTA—Colliers International's Atlanta-based Industrial Investment Services Group recently closed on the $30 million sale of Perimeter East Industrial Park, an eight-building, 775,339-square-foot property near Interstate 285 in DeKalb County. The industrial property was 100% leased at closing. Shreveport-based Sealy & Company purchased the property from High Street Realty Company, based in Boston. Dennis Mitchell and Matt Wirth of the Colliers International Industrial Investment Services Group represented High Street Realty in the transaction. High Street acquired the portfolio in an off-market transaction at approximately 65% occupancy level and with the risk of multiple near-term expirations.

MCDONOUGH, GA—American Realty Advisors acquired King Mill Distribution Center, an 846,496 square-foot class A cross-docked distribution facility in the Atlanta submarket of McDonough. The building is 100% leased to CastleGate Logistics with a guaranty from its parent company, Wayfair.com, one of the world's leading online destinations for home goods. Wayfair.com's revenue surpassed $3.38 billion in 2016. King Mill Distribution Center is located at 130 Distribution Drive. Frank Fallon, Chris Riley and John Farell at CBRE represented the seller, King Mill Distribution Park, LLC, a Trammell Crow Atlanta development.

BUILDING BLOCKS

BOWLING GREEN, KY—South Central Kentucky continues to lead the race in fast-tracking industrial development in Kentucky with the latest set of Build-Ready certified sites approved by the Kentucky Cabinet for Economic Development. Both sites have a 108,000 square-foot graded pad and are eligible for immediate expansion. Each site is located less than one mile from Interstate 65. These two sites join an existing Build-Ready site and a 108,000-square-foot speculative building at the Kentucky Transpark. The Build-Ready program takes shovel-ready sites to the next level, allowing for accelerated project timelines for companies seeking new location opportunities. Build-Ready sites streamline industrial project timelines and reduce costs; a true win-win for companies and communities alike.

Early this week in the Southeast, regional submarkets saw plenty of action. From refis, to new hires, to big leases and beyond, the commercial real estate activity was robust out of the gate.

BY THE NUMBERS

NEWS & NOTABLES

DEAL TRACKER

BUILDING BLOCKS

Instant Insights /

Middle Market Digest: Early This Week in the Southeast

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