Coro Realty, Pope & Land Acquire Three Well-Located Metro Atlanta Shopping Centers

Atlanta (March 17, 2020) - Coro Realty and Pope & Land announced the joint venture acquisition of three well-located neighborhood shopping centers in the northern suburbs of Atlanta from the Muntzing-Sattele Company.

Together, the centers represent almost 120,000-square feet of prime retail space in rapidly growing and upper-income communities in metro Atlanta. The partnership will improve the properties through capital investments, renovations and active leasing and management. Terms of the deal are not disclosed. Pope & Land, Coro Realty and M&P Shopping Centers (the joint venture’s largest investor) purchased the properties as medium-term value-added investments.

“We are excited to partner again with Pope & Land and M&P, with whom we have enjoyed many successful ventures over the past 20 years,” said Robert Fransen, President of Coro Realty. “We identified this portfolio because the properties are in our wheelhouse, are in great locations and have tremendous upside. We are going to continue to be opportunistic and active in this market.”

The assets are Brookside Station, a 23,500-square foot shopping center in Alpharetta; Mansell Oaks, a 43,000-square foot neighborhood shopping center in the heart of Roswell’s busiest retail area; and Town Center Oaks, a 52,000-square foot retail center in one of Cobb County’s fastest-growing retail and residential areas.

Located in North Fulton County near the growing North Point commerce district, Mansell Oaks is anchored by Longhorn Steakhouse. It is conveniently located near the intersection of Alpharetta Highway and Mansell Road and showcases a mix of restaurants and specialty stores aimed at North Fulton’s affluent residents.

Brookside Station is in prime location on Old Milton Parkway, approximately 1.5 miles east of GA-400. The area has an average annual income of approximately $120,000 within a three-mile radius of the center. The daytime population grows to more than 50,000 with employees and students from Northside Hospital, Siemens and Georgia State University-Alpharetta Center.

Town Center Oaks is located at the main entrance to Kennesaw’s Town Center at Cobb regional mall and has excellent street visibility. Boasting a mix of specialty shops, restaurants and service businesses. Town Center Oaks experiences high customer traffic due to its proximity to the Mall and Kennesaw State University.

“Pope & Land has enjoyed a long-standing relationship with the seller, Muntzing-Sattele, and we are pleased to have the opportunity to purchase these strategic shopping centers,” said Frank Kelly, managing director of Pope & Land. “In these centers we found the type of stability and sound fundamentals that we seek in an investment opportunity, and particularly in retail, which is certainly an evolving segment of the market. Our analysis led us to believe in the strength of both the tenant base and long-term outlook of these neighborhoods. Add to this the guidance of a trusted partner in Coro, and the result is an attractive real estate opportunity.”

About Coro Realty

Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.

About Pope & Land

Headquartered in Atlanta, Georgia since 1979, Pope & Land has developed many remarkable landmarks throughout the Southeast. Yet the hallmark of the firm’s 40+ year history has been its foresight and stability through the ebb and flow of the real estate cycle. At the core, Pope & Land is an opportunistic, creative and savvy company with a long history of innovation in project design and development.

###

Media contact

Thornton Kennedy

(404) 210-0363

thornton@prsouth.net

Coro Realty Adds Varner Crossing to Advisory Portfolio

Kroger-anchored neighborhood shopping center 98% occupied

Atlanta (Jan. 29, 2020) - Coro Realty has acquired Varner Crossing, an 80,466 square foot grocery-anchored neighborhood shopping center with surface parking on 12-acres in Powder Springs, Ga.

The property is located at 4150 Macland Road in one of Cobb County’s fastest-growing areas. Varner Crossing is more than 98% occupied. It is anchored by a Kroger grocery with a Kroger Fuel Center and is complemented by an active array of businesses, including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty will pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal.

“We expect Varner Crossing to be a solid and stable neighborhood center for years to come,” said John Lundeen, a Managing Partner of Coro Realty. “We are pleased to add it to Coro Realty’s grocery-anchored portfolio.”

Built in 2003, Varner Crossing is ideally situated on the “going-home” side of its intersection with direct access on both MacFarland and Lost Mountain Roads. The undeveloped one-acre outparcel along Lost Mountain Road is zoned for Neighborhood Commercial.

Coro will hold Varner Crossing for long-term cash flow and capital appreciation.

Coro Realty continues to be an opportunistic investor, having purchased a 44,764 square foot historic textile mill in Chattanooga, Tenn., two high-profile parking decks in downtown Atlanta and selling its stake in Inman Quarter, a Class-A mixed-use development in Atlanta in the last six months.

About Coro Realty

Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demostrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.

###

Media Contact

Thornton Kennedy

(404) 210-0363

thornton@prsouth.net

Coro Realty Sells Stake in Inman Quarter

Real Estate Development and Investment Company Sells Stake in Class-A Mixed-Use Property to Partner TriBridge Residential

Atlanta (January 23, 2020) - Coro Realty has announced the sale of its ownership stake in Inman Quarter, a Class-A mixed-use development located in the heart of one of Atlanta’s most vivacious and eclectic in-town neighborhoods. TriBridge Residential, the other stake holder in the property, will take full ownership of the property through this sale.

TriBridge and Coro Realty purchased the three-phase development shortly after construction was completed in 2015.  “We initially invested in Inman Quarter for long-term cash flow and capital appreciation.  However, in line with our opportunistic investment strategy, when the chance arose to sell our stake to TriBridge at an attractive valuation, we took it,” said Robert Fransen, President of Coro Realty.

“Inman Quarter is generational real estate that epitomizes live-work-play along the Beltline,” said Steve Broome, Managing Partner at TriBridge. “As the top asset in our portfolio, it will anchor the TriBridge Perpetual Income (TPI) investment vehicle, a new long-term strategy focused on exceptional assets in exceptional locations.”

The Inman Quarter property is home to 200 apartments, 315-space public parking deck and 39,000 square feet of High Street, including neighborhood favorites Beetlecat, Bartaco and Hampton & Hudson.

While Coro Realty has sold its ownership, its affiliate, thoughtwell, will continue to oversee Inman Quarter’s retail leasing, while TriBridge will continue the high-quality management of this marquee mixed-use property.

About Coro Realty

Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com

About TriBridge Residential

TriBridge Residential is a full-service multifamily investment, management, and development company based in Atlanta, GA, with over 6,000 units and $1 billion in assets under management.  The firm focuses on markets in the Southeast and provides a vertically-integrated platform with a 25+ year track record through its subsidiaries and affiliates. Lee Walker, Steve Broome, Bobby West and Jim Schroder serve as the firm’s partners.  For more information, visit www.tribridgeresidential.com

###

Media contact

Thornton Kennedy

(404) 210-0363

thornton@prsouth.net

Coro Realty Acquires Historic Signal Mill in the Heart of the NorthShore

Chattanooga, Tenn. (Jan. 13, 2020) — Coro Realty has acquired a 44,764 square foot renovated textile mill on 2.98 acres in the highly desirable NorthShore of Chattanooga, Tenn. The sale was brokered by Hayes Swann, Joe Montgomery and Tony D’Ambrosio of Colliers International.

Signal Mill dates back to 1916 and is on the National Register of Historic Places. The large two-story brick building at 205 Manufacturers Road was originally used for making clothing for more than seven decades before closing in 1986.

Developers renovated the mill in 2017, adding significant upgrades while leaving the historic exterior intact. With retail and dining occupying the first floor and office space on the second, Signal Mill is once again the center of the NorthShore’s renaissance.

“Signal Mill is a well-executed historic renovation project in the heart of Chattanooga’s most walkable neighborhood, the NorthShore. It has a strong tenant mix, excellent restaurants and shops and showcases the city’s manufacturing history,” said Robert Fransen, President of Coro Realty. “We are thrilled to close on this acquisition, which continues the product and geographic diversification of our portfolio.” 

Located across the street from the 23-acre Renaissance Park, Signal Mill is within walking distance of the historic Walnut Street Pedestrian Bridge, which connects the NorthShore to the popular Tennessee Aquarium and downtown Chattanooga.

Covenant Transport (NASDAQ: CVTI), a publicly-traded trucking and logistics company, occupies a full floor of Signal Mill. Dining destination Food Works and premier gift shop Genevieve Bond Gifts are among the retail tenants, which also include Edley’s Bar-B-Que, Mean Mug Coffee and Pigtails & Crewcuts.

Signal Mill is along Manufacturers Road, near the corner of Cherokee Boulevard, with high-visibility and optimal exposure. It is located next to a Whole Foods-anchored shopping center, the only Whole Foods in Chattanooga. The property also has convenient access to three of Chattanooga’s most travelled interstates: I-24, I-59 and I-75.

About Coro Realty

Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.

###

Media contact

Thornton Kennedy

(404) 210-0363

thornton@prsouth.net

New Look, Same Coro

December 19, 2019

After months of behind-the-scenes work, Coro Realty is pleased to unveil our new website, logo and branding. The most striking change is the logo’s addition of the “skyline,” which better reflects our diverse portfolio.

As many of you know, we are more than a long-term retail manager and investor. Since our founding in 1997, we have continued to own, operate, and develop all major asset types. To better reflect our full portfolio, we are pleased to unveil our new website, logo, and branding! We are excited about the future as we continue to refresh and diversify our holdings by both product type and geography. We invite you to see our website to learn more.

 As we continue to refresh and diversify our holdings by product type and geography, we want a reinvigorated look. We appreciate the team at Orange Sparkle Ball for leading us through the process.

New renderings released as transformation of former Masquerade space continues

By Collin Kelley
Atlanta InTown Paper - December 5, 2019
See Original Article Here

The transformation of the former Masquerade nightclub and concert venue into a new office complex called The Mill continues, and developers have released dramatic new renderings of the project

Located across from Ponce City Market in Old Fourth Ward, the site was also the former Excelsior Mill site has been on North Avenue for at least 118 years. The Mill also has direct access to the Eastside Trail of the Atlanta BeltLine and Historic Fourth Ward Park.

A joint venture of Southeastern Capital Companies and Coro Realty acquired the buildings in July of 2016 and has since led the extensive renovation efforts, which were designed by Smith Dalia Architects.

Exterior steel cladding was custom-milled to reproduce the original historical pattern, while the reopening of large windows has brought daylight deep into the previously darkened interior spaces. Original heavy timber posts, beams and trusses also showcase the building’s mill history. Much of the manufacturing equipment will remain in place, including a heavy-duty gear and pulley system originally used at the property.

“It is exciting to begin to see the adaptation and restoration of these extraordinary buildings take shape,” said Robert Fransen, Managing Partner, Coro Realty. “The Mill is a best-in-class renovation in one of Atlanta’s best Intown neighborhoods. We’re continuing to round out our portfolio with these diverse property types and are proud to preserve this important Atlanta landmark.”

. When completed in first quarter 2020, The Mill will deliver more than 30,000 square feet of open, creative office space thoughtwell. is serving as asset manager, guiding the projects overall branding, messaging and leasing. Scott DeMeyer and Emily Richardson with Colliers International are leading the office leasing.

For more information, visit themillatl.com.

Coro Realty Acquires Two MLK Parking Garages Connected to Underground Atlanta

Atlanta (September 18, 2019) — Coro Realty has acquired two significant urban parking garages in Atlanta’s historic city center.  The sale was brokered by Brandon Rogoff, Nicholas Ricardo and Steven Morgan of NKF Capital Markets.  The acquisition loan was issued by John Hancock Life Insurance Company and coordinated by Ben Greazel of NKF Capital Markets.

 The decks, MLK 75 and MLK 95, are on Martin Luther King Jr. Drive across the street from numerous government office buildings, including the Fulton County courthouse and the Georgia State Capitol complex. The parking decks are within walking distance of billions of dollars of planned development.

 Coro intends to invest roughly $1 million in the garages, making improvements to the stairs, elevators, lighting, signage and parking equipment.

 “Coro is uniquely positioned to own and operate urban parking.  Our portfolio includes six decks in and around metro Atlanta and significant surface parking,” said Robert Fransen, President and Managing Partner, Coro Realty. “This is an excellent opportunity given the existing need for parking in Downtown Atlanta and exponentially so considering the trajectory of the submarket.”

 Downtown Atlanta is one of the most dynamic and authentic urban environments in the Southeast.  With 27,000 residents, 34,000 students and over 154,000 jobs, it is experiencing an increase in young, upwardly-mobile residents who are attracted to the area’s combination of work and play, popular entertainment venues, walkability and access to more than 100 acres of green space.

 Over the last five years, Downtown Atlanta has seen $2.8 billion in investment across a variety of uses — residential, hospitality, retail and office. Another $6.4 billion worth of projects are either under construction or in the pipeline, totaling 8,000 housing units, 4,000 hotel rooms, and 14 million square feet of commercial space.

 With direct access to Underground Atlanta, MLK 75 and MLK 95 were built in 1980 and cover about 1.6 acres. The decks contain approximately 1,254 parking spaces between the two buildings.

 Coro Realty currently owns or co-owns parking garages in Downtown, Midtown, Buckhead, Decatur, Inman Park and Old Fourth Ward, which account for almost 4,000 parking spaces.

 About Coro Realty

Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.

 ###

 Media contact

Thornton Kennedy

(404) 210-0363

thornton@prsouth.net

Coro Realty Advisors and DG Real Estate Partners to Develop Roswell Self Storage Facility

ATLANTA, GA (April 30, 2019) – Coro Realty Advisors and DG Real Estate Partners will develop a self-storage facility in Roswell, Georgia’s Historic District.  The 1.5-acre property, located at 90 Oak Street, will consist of approximately 800 climate-controlled storage units.  The property will feature state-of-the-art security, controlled elevator access and automated lighting throughout the building.

The development is a joint venture between Coro Realty Advisors, LLC and DG Real Estate Partners, LLC.  Adam Holland, who will oversee 90 Oak Street for Coro Realty, stated “This is a great opportunity for Coro and its investors.  Due to the limited undeveloped land available and zoning restrictions, this is a true in-fill location.  We believe it will be a desirable amenity to local businesses and residents for years to come.”

About DG Real Estate Partners
DG Real Estate Partners, LLC was formed in early 2018.  The entity was created to merge Galbraith Enterprises, Inc. and Dahlco Real Estate Development.  DG Real Estate Partners’ principals are Matt Dahlhauser and Stephen Galbraith.  DG Real Estate Partners currently has close to $100 million of projects in various stages of development.

About Coro Realty Advisors (www.cororealty.com)
Coro Realty Advisors, LLC was founded in 1997, and is synonymous in the Southeast with intelligent real estate development and investment.  The firm engages in Investment, Asset Management, Leasing and Property Management for a myriad of residential and commercial properties throughout the Southeastern United States.

Coro Realty Advisors Acquires Industrial Portfolio in Georgia

ATLANTA, GA (March 29, 2019) – Coro Realty Advisors announces the acquisition of an industrial portfolio in the Atlanta MSA.  The portfolio totals 116,000 SF of office and warehouse space.  The properties include 2500 S. Main Street and 2505 S. Main Street in Kennesaw, GA, along with 5659 Southfield Drive in Flowery Branch, GA.  The properties are 100% leased to Beacon Roofing Supply (NASDAQ: BECN), Performance Contracting, Inc., and Kiel Laboratories.

Robert Fransen, President of Coro Realty, noted “Coro continues to strategically diversify its portfolio.  This acquisition is a solid addition to our current warehouse holdings through properties that present current income and the possibility for longer term development upside.”

 About Coro Realty Advisors (www.cororealty.com)
Coro Realty Advisors, LLC was founded in 1997, and is synonymous in the Southeast with intelligent real estate development and investment.  The firm engages in Investment, Asset Management, Leasing and Property Management for a myriad of residential and commercial properties throughout the Southeastern United States.