cre101_93oscz – Page 19 – CRE 101 – Buy | Sell | Lease

NEIP Acquires Charlotte Highrise Office Building

IPA Capital Markets (a division of Marcus & Millichap (NYSE: MMI)) and Green Harbor Capital secured $18 million in financing for the $32 million acquisition of a 31-story Class A office building located at 121 W. Trade Street in Charlotte.

Bobby Werhane in the firm’s Charlotte office and Griffin Dunaway, principal at Green Harbor Capital, secured the financing with a local credit union on behalf of New England Investment Properties.

Terms of the 5-year loan include a 6.625% interest rate with a 25-year amortization period, a loan-to-value of 65% and no prepayment penalty.

The property totals 334,368 rentable square feet and is located next to Tyron Street Station. Retail amenities include Reid’s Fine Foods, Charlotte City Club, and a barbershop. The property also features a common building wellness room and podcast studio, a tenant hub with a training room, conference room and lounge, and recently renovated common areas on the upper floors.

The post NEIP Acquires Charlotte Highrise Office Building appeared first on Connect CRE.

IPA Capital Markets (a division of Marcus & Millichap (NYSE: MMI)) and Green Harbor Capital secured $18 million in financing for the $32 million acquisition of a 31-story Class A office building located at 121 W. Trade Street in Charlotte. Bobby Werhane in the firm’s Charlotte office and Griffin Dunaway, principal at Green Harbor Capital, secured the financing with …
The post NEIP Acquires Charlotte Highrise Office Building appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

IPA Capital Markets (a division of Marcus & Millichap (NYSE: MMI)) and Green Harbor Capital secured $18 million in financing for the $32 million acquisition of a 31-story Class A office building located at 121 W. Trade Street in Charlotte. Bobby Werhane in the firm’s Charlotte office and Griffin Dunaway, principal at Green Harbor Capital, secured the financing with …
The post NEIP Acquires Charlotte Highrise Office Building appeared first on Connect CRE.

13

Jan

Trammell Crow Co. promotes Atlanta SVP to principal

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal.

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal.

10

Jan

Trammell Crow Co. promotes Atlanta SVP to principal

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal.

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)

A leading developer of commercial real estate in the U.S. has named a new Atlanta-area principal.

10

Jan

Atlanta Beltline wants to end deal with Murphy Crossing development team

It’s another setback for a pivotal project on the Westside Trail.

It’s another setback for a pivotal project on the Westside Trail. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)

It’s another setback for a pivotal project on the Westside Trail.

10

Jan

Atlanta Beltline wants to end deal with Murphy Crossing development team

It’s another setback for a pivotal project on the Westside Trail.

It’s another setback for a pivotal project on the Westside Trail. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)

It’s another setback for a pivotal project on the Westside Trail.

10

Jan

BREAKING: Beltline cancels planned redevelopment of Murphy Crossing

Josh Green

Fri, 01/10/2025 – 14:38

One of the most closely watched and potentially consequential redevelopment projects around the 22-mile Atlanta Beltline loop will not be moving forward as planned.

Beltline officials confirmed today in a project update to Urbanize Atlanta the organization has issued a notice of termination for the sale of Murphy Crossing in Southwest Atlanta’s Oakland City.

The Beltline had intended to sell the 20-acre, formerly industrial site alongside the Westside Trail to Culdesac Inc., an Arizona-based firm known for innovative approaches to infill development that put walkability and community at the forefront.

Beltline leadership selected Culdesac and Atlanta-based Urban Oasis Development as finalists to remake the coveted but long-idle Murphy Crossing site in September 2022; the Beltline and Invest Atlanta Board officially approved the development team in March last year, ostensibly clearing the way for concrete planning and permitting to begin. Hopes for redevelopment were also heightened by fresh, more detailed renderings for a transit-connected Murphy Crossing that emerged last summer

The most detailed image released to date for Murphy Crossing’s potential scope and connectivity to the Beltline and MARTA. Culdesac; Urban Oasis Development; Atlanta Beltline Inc.

But negotiations for Murphy Crossing’s sale and redevelopment have been fraught with what Beltline leaders called “significant challenges” in an email to Urbanize today.

“Since 2022, tightening conditions in the capital markets arena for commercial real estate, particularly for mixed-use and multifamily developments, contributed to changes to the project and delays in pre-development activities,” the Atlanta Beltline Inc. update reads. “These delays and project changes, among other things, have prevented the parties from coming to final terms.”

The scope of Murphy Crossing’s latest redevelopment plans, prior to the contract termination, had potential to fundamentally change the area, which is connected to both a growing Beltline segment and east-west MARTA line. At last check, a potential six-phase buildout of Murphy Crossing could have seen more than 1,100 residential units and more than 180,000 square feet of commercial space built under I-Mix zoning. That classification allows for dense economic development—combining commercial, residential, and even jobs-producing industrial uses on a single property—in underserved neighborhoods around the city.

Murphy Crossing once operated as the Georgia Farmers Market and currently includes about a dozen warehouses and other buildings across its 20 acres.

Beltline officials in today’s announcement said they remain committed to redeveloping Murphy Crossing into more active, fruitful uses in Southwest Atlanta—but when that might begin to happen with construction wasn’t specified.

Beltline leaders plan to keep pushing forward planning, entitlement, and predevelopment work for Murphy Crossing as the development team changes. A stakeholder committee meeting for the property will held sometime in February to discuss next steps in the redevelopment process, per Beltline officials.

“We will continue to advance our work to realize a high-density, mixed-use, equitable development project on this site,” noted Beltline president and CEO Clyde Higgs, “that will meet the needs of our Oakland City, Adair Park, Capitol View, and Bush Mountain residents.”  

“Our priority is fulfilling our fiduciary responsibility to the public and delivering on the promises made throughout the many community engagement activities for this site,” added Dennis Richards, Jr., the Beltline’s vice president of housing policy and development. “[We’ll] continue with the planning and development of this site, and we look forward to sharing our next steps with the public in the coming weeks.”

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• Oakland City news, discussion (Urbanize Atlanta)

Subtitle

Sale to Arizona-based Culdesac firm terminated for closely watched Southwest Atlanta property

Neighborhood

Oakland City

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An overview of a huge development site next to active rail tracks and a long walking path with many buildings and trees.

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Tags

1050 Murphy Avenue
Murphy Crossing
Adair Park
West End
Capitol View
Atlanta BeltLine
Westside Trail
Culdesac
Urban Oasis Development
Kronberg Urbanists + Architects
LDG Consulting
T. Dallas Smith and Co.
Adaptive-Reuse
Atlanta Development
Oakland Exchange
Adaptive-Reuse Development
Atlanta History
BeltLine Development
Southwest Atlanta
I-Mix

Subtitle
Sale to Arizona-based Culdesac firm terminated for closely watched Southwest Atlanta property

Neighborhood
Oakland City

Background Image

Image

Before/After Images

Tags

1050 Murphy Avenue
Murphy Crossing
Adair Park
West End
Capitol View
Atlanta BeltLine
Westside Trail
Culdesac
Urban Oasis Development
Kronberg Urbanists + Architects
LDG Consulting
T. Dallas Smith and Co.
Adaptive-Reuse
Atlanta Development
Oakland Exchange
Adaptive-Reuse Development
Atlanta History
BeltLine Development
Southwest Atlanta
I-Mix

Subtitle
Sale to Arizona-based Culdesac firm terminated for closely watched Southwest Atlanta property

Neighborhood
Oakland City

Background Image

Image

Before/After Images

Discover Lakeside Bliss in the Heart of Lake Arrowhead

With the cold settling in, it’s easy to dream of sunny days by the water—and this breathtaking lakefront home on Lake Arrowhead is the ultimate summer escape. Set on a rare, flat lot with sweeping views of the water, this home offers quiet mornings by the lake, lively get-togethers with friends, and outdoor adventures just steps from your backyard.

Inside, the open-concept design creates a seamless flow between indoor and outdoor living spaces. Large windows throughout the main level frame stunning scenery of the lake, allowing natural light to pour into every corner of the home.

The main floor features a spacious living area with a stone fireplace, formal dining room, and a bright kitchen with ample storage and an eat-in breakfast nook. A large bedroom, full bathroom, and convenient laundry room complete the first floor, offering functionality without sacrificing style.

The second floor is home to a serene and oversized primary suite, offering a peaceful sanctuary that invites relaxation. From the soaking tub that overlooks the water, a double vanity, separate shower, and an expansive walk-in closet, this retreat offers a perfect escape. Two additional guest bedrooms, a large double vanity bathroom, and an open loft area provide flexibility for guests or family.

Offering a wealth of possibilities, the daylight basement includes a spacious bedroom suite, full bathroom, and an open living room and game area—ideal for entertaining or creating a private guest suite. Unfinished storage spaces provide plenty of room for lake toys, seasonal items, or potential future expansion.

The expansive outdoor spaces highlight the joys of lakeside living. A two-story deck invites you to soak in unobstructed views of the water, while a fire pit and hot tub offer cozy spots for year-round enjoyment. The double dock ensures easy access to the lake, whether for boating, fishing, or simply embracing the serene atmosphere. With freshly painted exteriors and deck, the property is as move-in-ready as it is picturesque.

The gated community offers an impressive array of amenities, including 24-hour security, two swimming pools, 14 walking trails, parks, a clubhouse, an 18-hole golf course, a restaurant, and a marina. With the added benefit of allowing short-term rentals, it provides incredible flexibility for those seeking an income-generating property.

Whether you’re looking for a primary residence, a vacation getaway, or a lucrative investment, this lakefront dream offers an unparalleled living experience. Embrace lakeside living and make this exceptional property your own.

Listed by EPIC Real Estate Group and Allison McLaurin with Harry Norman, REALTORS®, this home is located at 197 White Antelope Street Waleska, GA 30183.

Click For Full Listing

Keep up with What Now Atlanta’s restaurant, retail, and real estate scoop by subscribing to our newsletter, liking us on Facebook, and following us on Twitter. Opening a restaurant? Browse our Preferred Partners.

Real Estate, Allison McLaurin, EPIC Real Estate Group, Harry Norman, Harry Norman Realtors Open-concept design creates a seamless flow between indoor and outdoor living spaces. Read MoreWhat Now AtlantaReal Estate – What Now Atlanta

Open-concept design creates a seamless flow between indoor and outdoor living spaces.

10

Jan

Buckhead’s 2.2M-SF Piedmont Center Bracing for Foreclosure

Morgan Stanley has filed to foreclose on a $330.8 million loan tied to the Piedmont Center, a 46-acre property that includes 14 office buildings along Piedmont Road.

The Atlanta Business Chronicle reports Ardent Cos., which owns the 2.2 million-square-foot campus, has defaulted on the loan. Piedmont Center was valued at $657 million, or $299 per square foot when Ardent lined up the debt package from Morgan Stanley in 2021. That was before interest rates soared and building valuations began to fall.

Morgan Stanley intends to foreclose on Piedmont Center on February 4th.

Bids for Piedmont Center could be near $200 million, or $91 per square foot. That’s a 70% decline from its value in 2021. JLL is marketing the Piedmont Center. The offering says it represents a generational opportunity to control a prominent position in the Buckhead office market with significant in-place cash flows and highly flexible business plan optionality.

The post Buckhead’s 2.2M-SF Piedmont Center Bracing for Foreclosure appeared first on Connect CRE.

Morgan Stanley has filed to foreclose on a $330.8 million loan tied to the Piedmont Center, a 46-acre property that includes 14 office buildings along Piedmont Road. The Atlanta Business Chronicle reports Ardent Cos., which owns the 2.2 million-square-foot campus, has defaulted on the loan. Piedmont Center was valued at $657 million, or $299 per square foot …
The post Buckhead’s 2.2M-SF Piedmont Center Bracing for Foreclosure appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

Morgan Stanley has filed to foreclose on a $330.8 million loan tied to the Piedmont Center, a 46-acre property that includes 14 office buildings along Piedmont Road. The Atlanta Business Chronicle reports Ardent Cos., which owns the 2.2 million-square-foot campus, has defaulted on the loan. Piedmont Center was valued at $657 million, or $299 per square foot …
The post Buckhead’s 2.2M-SF Piedmont Center Bracing for Foreclosure appeared first on Connect CRE.

10

Jan

PMT Unloads Steele Creek Shopping Center

PMT Partners sold York Ridge Shopping Center in the Steele Creek area of Charlotte for $16.9 million. Old York LLC was the buyer. The Charlotte Business Journal reports it last sold for $8.1 million in 2001.

The 11-acre property is at 11112 Tryon St. The 71,406-square-foot center was built in 1999 and was 100% occupied at the time of the sale. Crunch Fitness is the anchor tenant there, occupying 44,000 square feet. It is also home to Sabor Latin Street Grill, Jersey Mike’s, China Tea and the Cuban restaurant A Taste of Havana.

TSCG represented PMT Partners in the sale. Ascent Real Estate Partners represented Old York.

TSCG recorded over $2 billion in transactions in 2021. The firm exclusively represents over 480 retailers and restaurants. Ascent says it is a boutique commercial real estate firm specializing in retail, office and mixed-use properties in the Piedmont area of the Carolinas.

The post PMT Unloads Steele Creek Shopping Center appeared first on Connect CRE.

PMT Partners sold York Ridge Shopping Center in the Steele Creek area of Charlotte for $16.9 million. Old York LLC was the buyer. The Charlotte Business Journal reports it last sold for $8.1 million in 2001. The 11-acre property is at 11112 Tryon St. The 71,406-square-foot center was built in 1999 and was 100% occupied …
The post PMT Unloads Steele Creek Shopping Center appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

PMT Partners sold York Ridge Shopping Center in the Steele Creek area of Charlotte for $16.9 million. Old York LLC was the buyer. The Charlotte Business Journal reports it last sold for $8.1 million in 2001. The 11-acre property is at 11112 Tryon St. The 71,406-square-foot center was built in 1999 and was 100% occupied …
The post PMT Unloads Steele Creek Shopping Center appeared first on Connect CRE.

10

Jan

What an $8.5M new condo in downtown Savannah looks like

Josh Green

Thu, 01/09/2025 – 15:53

A stately infill project billed as Savannah’s “newest—and last—riverside neighborhood” is coming together with pricing that makes residential real estate in places like Buckhead, Ansley Park, and Morningside seem comparatively accessible.

Upper East River, as the growing development is called, continues Savannah’s mixed-use expansion on what had been marshy fields just east of River Street, off the highway that links the city to Tybee Island.

According to developer Patrick Malloy Communities, Upper East River is offering five distinctive “living environments” that range from brownstone-style townhomes to sprawling penthouses with sweeping river views.

More than 120 units and riverfront amenities buildings are eventually planned, and 84 homes have closed to date, according to the project’s website.

Perks of the location include immediate access to the 1.6-mile Riverwalk and recent development next door, such as Eastern Wharf shops, acclaimed restaurants, and a public boat dock. Upper East River’s amenities—a clubhouse with a pool, rooftop deck, bar, and fitness center—are scheduled to open this year, per listings with Berkshire Hathaway HomeServices Georgia Properties.

Current prices soar to north of $8 million.

Facade of the Mayor Building Residences condos at Upper East River. Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Upper East River’s riverfront site, just east of downtown Savannah’s historic squares and famously walkable blocks. Google Maps

On the flipside, Upper East River’s least expensive, foot-in-the-door option right now is the Emma Townhome. That includes three bedrooms and three and ½ bathrooms in 1,894 square feet for $995,000—and up. (The only townhome on the market in Atlanta right now with similar sizing and pricing is an under-contract offering in Inman Park, which isn’t new but is larger and cheaper.)

But the Big Kahuna of Upper East River real estate is the penthouse at what’s called the Mayor Building Residences. The building offers just five units, and all are spread across a single story.

For $8.5 million, the Mayors Penthouse has three bedrooms and three and ½ bathrooms across 4,400 square feet—for a breakdown of more than $1,700 per square foot.

Upper East River’s placement along a newer pathway that directly links with Savannah’s River Street ahead. Josh Green/Urbanize Atlanta

Ground-floor entry of the Mayor Building Residences. Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Naturally, that price includes an elevator keyed to the penthouse floor, but just two dedicated parking spaces. More unique perks include a private rooftop terrace with a fireplace—and a private pool overlooking the Savannah River.

If renderings are reality, the interiors should be rather gorgeous, of course.

Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

We’ve checked with sales reps in recent weeks to learn the status of Upper East River’s construction and full delivery, but inquiries weren’t returned. This story will be updated with any additional information that comes.

In the meantime, find more context and a thorough Mayors Penthouse tour in the gallery above.

Site layout for Upper East River. Light green represents homes under contract, red are spec homes, and gray are future phases. Dark-green properties have closed. Beige areas are the two Mayors Buildings and amenities. Patrick Malloy Communities

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• Savannah news, discussion (Urbanize Atlanta)

Tags

Savannah Construction

Savannah Development

Eastern Wharf

Upper East River at Eastern Wharf

Savannah River

Patrick Malloy Communities

Berkshire Hathaway HomeServices Georgia Properties

Images

Upper East River’s riverfront site, just east of downtown Savannah’s historic squares and famously walkable blocks. Google Maps

Facade of the Mayor Building Residences condos at Upper East River. Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Construction progress on a riverfront section of the Upper East River development in late November. A photo of a large new development site in Savannah with many new buildings and a pathway next to a huge river.

The window-heavy back portion of the building faces the Savannah River. Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Upper East River’s placement along a newer pathway that directly links with Savannah’s River Street ahead. Josh Green/Urbanize Atlanta

Ground-floor entry of the Mayor Building Residences. Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Patrick Malloy Communities/ Berkshire Hathaway HomeServices Georgia Properties/SMLC

Site layout for Upper East River. Light green represents homes under contract, red are spec homes, and gray are future phases. Dark-green properties have closed. Beige areas are the two Mayors Buildings and amenities. Patrick Malloy Communities

Josh Green/Urbanize Atlanta

Subtitle

It’s part of Upper East River, billed as “Savannah’s newest—and last—riverside neighborhood”

Neighborhood

Savannah

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415 Upper East Ave.
Savannah
City of Savannah
OTP
Georgia
Georgia Cities
Downtown Savannah
Savannah Construction
Savannah Development
Eastern Wharf
Upper East River at Eastern Wharf
Savannah River
Patrick Malloy Communities
Berkshire Hathaway HomeServices Georgia Properties
Savannah Condos
Gentrification
gentrification
For Sale in Savannah
Savannah Homes