JULY 2, 2014
Atlanta Commercial Properties E-Newsletter

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BATSON-COOK BUILDS SEVEN SENIORS HOUSING FACILITIES FOR $56 MILLION

The three-company development team is bringing seven seniors housing facilities totaling 275,000 square feet to the Southeast.

WEST POINT, GA. -- Batson-Cook Construction and its sister company, Batson-Cook Development Co., have partnered with Principal Senior Living Group to build several new seniors housing facilities in the Southeast. The development team has delivered or is constructing seven facilities totaling $56 million and 275,000 square feet. The facilities, operating under the Benton House brand, are located in Douglassville, Ga.; Johns Creek, Ga.; Alpharetta, Ga.; Woodstock, Ga.; Brunswick, Ga.; Clermont, Fla.; and Bluffton, S.C. West Point-based Batson-Cook Construction is building the Benton Houses at approximately 40,000 square feet each, with each memory-care property housing 55 beds. The company also began a $1.8 million expansion to Benton House of Alpharetta in April.

 

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SEALY, AEW CAPITAL PURCHASE METRO ATLANTA INDUSTRIAL PARK


FOREST PARK, GA. -- A joint venture between Dallas-based Sealy & Co. and AEW Capital Management has purchased a 242,000-square-foot industrial park in metro Atlanta. The asset is located in Forest Park in the Airport/North Clayton submarket, Atlanta's largest industrial submarket. AEW Capital Management previously owned the property on behalf of AEW Partners VII LP.

 

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KBS REIT I INKS LEASE AT GREAT OAKS CENTER IN ALPHARETTA
Star & Shield Services LLC will occupy 14,701 square feet at
Great Oaks Center office park in Alpharetta, Ga.

ALPHARETTA, GA. -- KBS Real Estate Investment Trust (KBS REIT I), a non-traded REIT based in Newport Beach, Calif., has signed a new tenant to a 14,701-square-foot lease at its Great Oaks Center office park in Alpharetta. Ben Parker of Avison Young represented the tenant, Star & Shield Services LLC, in the lease transaction. Elliott Grand and Jeff Keppen of CBRE represented KBS REIT I. Great Oaks Center is located at 11560 Great Oaks Way.

 
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REI TO OPEN NEW LOCATION AT MANSELL CROSSING IN ALPHARETTA


ALPHARETTA -- REI is expanding within the metro Atlanta market by opening a location in Alpharetta. Situated at the northwest corner of North Point Parkway and Mansell Road within Mansell Crossing, the more than 24,000-square-foot store will offer the top brands of outdoor gear and apparel for camping, climbing, cycling, fitness, hiking, paddling and travel. The new location will open in spring 2015.

 

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 NEW CBRE, MAASTRICHT UNIVERSITY STUDY LISTS TOP 10 GREEN U.S. CITIES 
Niks Kok
Maastrict University

  

 

LOS ANGELES -- The 2014 Green Building Adoption Index, a joint project between CBRE Group Inc. (NYSE: CBG) and Maastricht University, has named Minneapolis as the greenest city in the nation, with 77 percent of the city's commercial real estate certified as green. The term green is in reference to buildings that are either certified by the EPA's Energy Star rating or the U.S. Green Building Council's LEED program.

 

Top 10 Green Cities
1. Minneapolis (77 percent)
2. San Francisco (67.2 percent)
3. Chicago (62.1 percent)
4. Houston (54.8 percent)
5. Atlanta (54.1 percent)
6. Los Angeles (49.7 percent)
7. Denver (49.3 percent)
8. Seattle (46.4 percent)
9. Miami (46 percent)
10. Washington, D.C. (42.4 percent)


The study also emphasizes the dramatic increase in the number of green commercial real estate properties in the United States since 2005. During that time frame, the amount of Energy Star-labeled buildings has increased 600 percent, and the proportion of buildings that are LEED certified has jumped up 1,000 percent. LEED-certified space now totals 19.4 percent of the total building stock in the 30 office markets reviewed in the study when measured by floor area. 

 

The study is the first project in CBRE's Real Green Research Challenge (RGRC), the company's $1 million initiative for research and innovation in sustainability. CBRE launched the RGRC in September 2012. 

Click on the above image to view a larger version of the chart.
David Pogue
CBRE

 

"We have all seen the rapid growth in the number of green-certified buildings in the markets in which we work. However, we were quite surprised to see how large the numbers actually are. Green is absolutely the new norm," says Dave Pogue, global director of corporate responsibility for CBRE. "We wanted to do something in the built environment to help advance the discussion of sustainability. With the RGRC, we have the opportunity to affect the entire real estate industry and have a lasting effect on the way real estate is built, occupied and financed, and in doing so be a force for positive environmental change." 

 

Dr. Nils Kok of Maastrict University of the Netherlands leads the Green Adoption Index and works in close collaboration with CBRE and the USGBC. The study reviews more than 34,000 buildings - totaling more than 3.5 billion square feet - in the central business districts (CBDs) of the top 30 U.S. markets, in terms of square footage. 

 

"This is the first study to quantify the relevance of green building practices in the commercial real estate market," says Dr. Kok, associate professor in finance and real estate at Maastricht University. "While we all know examples of LEED-certified buildings, the results presented here are facts based on robust methodology, not anecdotal evidence. The evidence shows that green has become mainstream in all major U.S. cities." 

 

-- Staff reports

 

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