Commercial Real Estate Deals Making News in Atlanta

We’ve witnessed multiple CRE deals making headlines across metro Atlanta in recent weeks. Among them, an affiliate of Florida-based real estate investment group Grover Corlew announced it purchased five Alpharetta, Ga. office buildings in Mansell Court at Mansell Overlook for $12.2 million.

The affiliate, G&C Mansell Investors LLC, acquired the three single-story and two two-story low rise office buildings at 10 and 20 Mansell Court East and 30, 50 and 70 Mansell Court respectively.

 

According to the Atlanta Business Chronicle, the portfolio originally was sold in 2007 for $22 million and is 77-percent leased. The five buildings sit on 14.8 acres of land and have 188,478 square feet of office space.

 

Additionally, Atlanta developer South City Partners closed Jan. 11 on the 3.1-acre property just east of the Avondale MARTA station on College Avenue. The goal is a mixed-use project in which “South City would develop a four-story building with 197 residential units and 8,000 square feet of retail and restaurant space,” the Business Chronicle reported.

 

On the leasing front, Atlanta Bisnow reports Bain & Co is in talks with Hines Interests to lease two floors at 1180 Peachtree St, the famed twin-pronged tower, often called the King & Spalding building after its key tenant. The deal could have Bain & Co move from its current home at Terminus 100 in Buckhead.

 

Also, global insurance giant AON “is zeroing in on its potential new office, one that could be as big as 125k SF, in Atlanta, in a search that includes the former Newell Rubbermaid HQ,” Bisnow writes. Contenders, according to Bisnow, are Three Glenlake, Three Alliance Center, Wildwood Towers and 2500 Wildwood.