Image courtesy of Google Maps / Cousins Properties' Tower Place 200 in Buckhead
Law firm Greenberg Traurig is staying put at its Buckhead office.
The firm renewed its 105K SF lease at Terminus 200 with landlord Cousins Properties, the Atlanta Business Chronicle reported. The new deal runs through 2039, with Greenberg occupying the top five floors of the 565K SF tower, just as it has since it started its 15-year lease in 2011.
CBRE’s David Todd and Newmark’s Mike Shuler represented the law firm, while Cousins’ Bill Hollett negotiated for the landlord. Cousins is set to embark on renovations to the lobby and adding private outdoor space.
LEASING
Battery-maker Duracell announced this week it will relocate its global research and development headquarters to the 13-story lab building in the Science Square mixed-use project.
Duracell is expected to invest $56M in the space next to Georgia Tech’s campus, creating 110 jobs. It is expected to lease up to 70K SF of Science Square Labs after its move from Bethel, Connecticut, a source told Bisnow. A joint venture between Trammell Crow and Georgia Advanced Technology Ventures delivered the 368K SF Science Square Labs building last year.
Courtesy of Perkins & Will Science Square Labs was completed in April next to Georgia Tech’s campus.
DEVELOPMENT
Atlanta-based Turnstone Group wants to develop a mixed-use residential community with 258 townhouses, 28 condominium units and 88 single-family houses on more than 60 acres in Newnan, according to a filing with the Georgia Department of Community Affairs.
The project, off Diplomat Parkway and Newnan Crossing Boulevard, would also include 36K SF of retail. Its projected completion is in 2031.
FINANCING
Green River Builders and its joint venture partner, ARC Multifamily Group, obtained a $42.7M construction loan for The Jax, a planned 282-unit garden-style apartment complex in Monroe.
Peachtree Group provided the 2.5-year interest-only loan for the project at 200 Aycock Ave. CBRE’s Blake Cohen and Charlie Clark arranged the financing. Peachtree structured the loan with an earnout based on meeting completion and leasing hurdles during its term, according to a press release.
The Jax will include seven three-story apartment buildings with one-, two- and three-bedroom units and amenities like a business center, clubhouse, pool, gym, electric vehicle charging stations and a breakfast concierge station.
The project is in Walton County, which is expected to see its population grow by more than 50% between 2020 and 2050, CBRE said, citing Atlanta Regional Commission data.
“Due to high barriers to entry, the City of Monroe has seen very little development and The Jax will be the city’s first large-scale apartment project, fulfilling an important need for quality rental housing,” Cohen said in a statement.
HKH LLC obtained a new $12.5M loan to refinance its Spark by Hilton hotel in College Park. The financing was arranged by Avana Cos. through its $250M hospitality joint venture with Oaktree Capital Management.
The loan also helped to fund property improvements, according to Avana.
PERSONNEL
The Shopping Center Group has appointed Justin Latone as senior vice president for its investment sales division, partnering with Adam Birnbrey and Neal Pringle. The 20-year industry vet most recently was a senior vice president with shopping center developer SJC Ventures.
Mike Marino was appointed as market executive for Bank of America Private Bank, a wealth management subsidiary of the banking giant. Marino is tasked with growing connections with high net worth investors in Georgia.
A 30-year banking veteran, Marino most recently was vice chairman with J.P. Morgan Private Bank for its South Atlantic region.
Housing developer Tapestry Development Group named Brian Dollar as its senior project manager, tasked with overseeing its development pipeline, the ABC reported.
Dollar was most recently senior vice president for Florida-based apartment builder Acruva Community Developers. He also worked for Atlanta Housing from 2018 to 2023.
Image courtesy of Google Maps / Cousins Properties' Tower Place 200 in Buckhead
