Amazon Web Services (AWS), the cloud computing division of Amazon, has made significant strides toward establishing a data center in Georgia.
The company recently acquired 985 acres of land for $270 million along Interstate 75 in Lamar County, approximately 50 miles south of Downtown Atlanta, as reported by the Atlanta Business Chronicle.
An Amazon spokesperson confirmed the purchase and stated that the company is currently performing due diligence to explore potential data center locations.
This extensive parcel of land is part of the Legacy 75 Trade Center, a planned mixed-use industrial park that will feature an impressive 19 million square feet of industrial space, along with 57 acres allocated for residential development and an adjacent 350-acre quarry.
The project was outlined in a Development of Regional Impact application submitted to the Georgia Department of Community Affairs last August.
This department is responsible for reviewing developments that could significantly impact regional infrastructure.
The land was sold to Amazon by High Falls 75, a developer based in Stockbridge, Georgia, which is also spearheading the Legacy 75 Trade Center project.
In other real estate news, Terravet Real Estate Solutions, a firm specializing in veterinary clinic real estate, has made a noteworthy acquisition in Marietta.
The Pennsylvania-based company purchased the Dogwood Veterinary Specialty & Emergency facility for $3.3 million.
Ownership of the facility was previously held by an LLC registered to Dr. Agda Tamassia, the leading veterinarian at Dogwood.
The property spans nearly 13,000 square feet and serves as a 24-hour animal hospital located off Powers Ferry Road.
With 17 full-time doctors and over 70 employees, Dogwood Veterinary has become a key player in the region.
Simultaneously, Dogwood’s veterinary practice was acquired by Innovetive Petcare, a company focused on managing the business side of veterinary clinics.
Terravet is leading efforts to establish veterinary real estate as its own distinct asset class, which demonstrates the growing demand in this sector.
In a separate transaction, Cincinnati-based Phillips Edison & Co. purchased Butler Crossing, a shopping center located off Cobb Parkway in Kennesaw, for $13.8 million.
This shopping center encompasses 57,000 square feet and was acquired from Ziff Real Estate Partners, which had itself acquired the property in 2018 for $7.9 million.
The sale was facilitated by JLL’s brokers Brad Buchanan, Andrew Kahn, and Jim Hamilton.
Another noteworthy acquisition involves the Central Park Apartments in College Park, which was purchased by investor Moses Weiss through his shell company, Camp Creek 280 LLC, for $19 million.
The community features 280 units and was originally bought for $7.8 million in 2018 by the previous owner, 2900 Camp Creek LLC.
This transaction was brokered by Scott Spalding, Marco Welch, and Joe Mitchell from Marcus & Millichap.
In a personnel change, Partners Real Estate has appointed Matt Anderson as managing director of valuation and advisory services for the Southeast.
Anderson brings 20 years of experience in real estate valuation to the team; he previously held the position of senior director at CBRE in Atlanta.
In the leasing sector, C.H. Robinson is set to relocate its office from Downtown Atlanta to a larger facility in the suburbs.
The logistics firm signed a lease for 17,000 square feet at Cumberland Center II, a prominent 17-story building in Cobb County.
Cushman & Wakefield’s Tim Wright represented C.H. Robinson in the transaction, while JLL’s Jeff Bellamy and Brooke Dewey represented CP Group, the owner of Cumberland Center II.
Additionally, they secured a 13,000 square foot lease with Mikart, a pharmaceutical manufacturer also located at Cumberland Center II, represented by CBRE’s Ryan Hudson.
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