Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Although small deals individually, the two dirt transactions closed Wednesday by Dallas-based Mullen Co. in suburban Newnan, GA are expected to open up the area for various multi-million-dollar developments, area brokers tell GlobeSt.com.

“I know these sales are small, but it’s about a $60 million dirt deal in all, with several hundred million dollars worth of development planned,” Mullen’s Chris Cooper tells GlobeSt.com. “This area is booming.”

Representing Newnan Crossing Partnership’s 1,000-acre mixed-use development, Mullen negotiated a $1.8 million, 17.3-acre sale on multifamily-zoned land to CED Holdings of Orlando for $104,046 per acre or $2.39 per sf. In the second transaction, Riverwood Properties of Atlanta paid $1.1 million or $733,333 per acre ($16.84 per sf) for a 1.5-acre retail site. The two tracks are on the east side of Interstate 85.

CBL & Associates of Chattanooga, TN has the mall site under option, area brokers confirm to GlobeSt.com. Mullen is building two four-lane divided parkways through the 1,000-acre development for a one million-sf, open-air regional lifestyle center and over 1,000 additional single-family and multifamily units.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.