This Week's Atlanta Deal Sheet: High Street Lands 2025's Biggest Lease So Far
A West Coast human resources provider is leasing 150K SF at GID’s High Street project in Dunwoody.
TriNet Group is opening an office in Central Perimeter, where it expects to create 750 new jobs in the coming years, Georgia Gov. Brian Kemp announced in March. At the time, TriNet didn't identify which project it would occupy.
GID, which is developing the High Street mixed-use project at the intersection of Perimeter Center Parkway and Hammond Drive, recently completed the $415M first phase, which includes two luxury apartments, 150K SF of retail and restaurants, and 320K SF of office.
Once delivered in its entirety, High Street will include more than 670K SF of office and a 400-room hotel.
JLL’s Jeff Taylor and Adam Viente brokered the deal for GID, while JLL’s Tony Guglielmi, Rich Branning, Josh Hirsh, Dom Wyant, Terry McGuirk and Brennan Koslow represented TriNet.
DEVELOPMENT
CIM Group subsidiary Centennial Yards Co. has applied with the city of Atlanta to begin site work for a 127-room hotel at 88 Elliott St., between Nelson and Mitchell streets and within the Centennial Yards mixed-use project. The nearly 1-acre lot was originally approved for an apartment building, according to the application.
Centennial Yards began construction this month on the 70K SF Cosm immersive entertainment venue.
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Virginia-based homebuilder NVR Inc. has applied to rezone more than 160 acres off Georgia Highway 98 in Commerce into 450 single-family houses with nearly 3 acres of shared commercial development, according to a development of regional impact application with the Georgia Department of Community Affairs.
Called Providence Point, NVR is projecting completion by May 2026, according to the application.
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Outrigger Industrial is seeking approval from regional planners to develop a two-building distribution project in Flowery Branch, some 44 miles north of Atlanta off Wade Orr Road, according to its DRI application.
The Chicago-based developer plans to build a 346K SF and a 227K SF building on the site by 2027.
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Dermody Properties broke ground this week on LogistiCenter at South Forsyth, a 94K SF distribution facility at 7515 New Boyd Road in Forsyth County. Dermody purchased the 10-acre site from Florida Food Products in October for $741K, according to property records. JLL’s Reed Davis, Bob Currie, Brad Pope and Hannah Dillard represented Dermody.
PERSONNEL
Patrick Chesser, a 30-year Atlanta CRE veteran, has joined the Ryan Cos. as its Southeast regional president, taking over from Doug Dieck, who is retiring after a three-decade career with the developer.
Chesser most recently served as senior managing director of multifamily builder Mill Creek Residential.
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Walker & Dunlop hired John Carr as managing director of its Southeast investment sales team, tasked with originating multifamily sales. Carr previously worked with Cushman & Wakefield, where he participated in more than 300 transactions totaling $5B in sales.
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Kelly Evans joined Cushman & Wakefield as senior managing director in the firm’s multimarket advisory team. She spent the past 11 years at CBRE. Evans will focus on consulting with corporate users and their real estate portfolios.
CP Group has tapped former Goldman Sachs Vice President of Investment Banking Bilal Manzoor as vice president of its Southeast acquisitions platform. Manzoor is tasked with identifying new real estate purchase opportunities throughout the Southeast.
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Transwestern Real Estate Services hired Heidi Swygert as senior vice president for project services in Atlanta. Swygert will coordinate with agency leasing, tenant advisory and property management teams.
The president of Commercial Real Estate Women Network’s board of directors, Swygert previously acted as vice president of JLL’s project development services group, where she worked with such companies as Delta Air Lines, Equifax and Truist Securities.
SALES
Radco Cos. purchased the Legacy at Riverdale, a 615-unit apartment complex in Riverdale, its first apartment purchase in this real estate cycle. The Atlanta-based firm has since rebranded the property as Rhythm at Riverdale, which spans 57 buildings on 48 acres.
Terms of the sale were undisclosed as of press time, but the previous owner is listed as Ohio-based Fillmore Property Group, which purchased the complex in 2021 for $55M, according to property database Reonomy.
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A subsidiary of First Colony Financial Corp. sold the 165K SF Winder Corners shopping center for $15.8M to Atlanta-based Mosaic Real Estate.
Colliers’ Scott Israel and Joe Montgomery represented the seller. The shopping center off Monroe Highway, built circa 1994, is anchored by Publix Super Markets and is more than 95% leased.
