Coro Realty, Miller Lowry sell approximately half of mixed-use site in Hapeville to D.R. Horton

Hapeville, Ga. (Nov. 29th, 2022) — Coro Realty, a diverse real estate investment and management company, and joint-venture partner, Miller Lowry Developments have sold 8.3 acres in downtown Hapeville to D.R. Horton, the country’s largest homebuilder by volume since 2002. 

The partnership acquired a 16-acre parcel in 2020, which consisted of approximately 60 properties on Chestnut and Elm Streets. The 8.3 acres represent the western portion of the site.

The parcel is in close proximity to the global headquarters of Delta Airlines, a Wells Fargo corporate campus, the Kimpton Overland Hotel, and local destinations, including John Lewis Memorial Park and Arches Brewing.

“Coro Realty is excited to be a part of Hapeville’s growth and to help reactivate a long-dormant part of this city’s residential core,” said Robert Fransen, President and Managing Partner, Coro Realty. “We continue to seek best-in-class partners to enhance this key site less than a quarter mile from Hartsfield-Jackson Atlanta International Airport.” 

D.R. Horton is planning to build approximately 110 townhomes on the site.

 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 Miller Lowry 

Founded in 2003, Miller Lowry Developments delivers high-end residential homes, urban mixed-use, commercial and multi-family projects in historic and iconic submarkets in and around Atlanta. For more information, please visit millerlowry.com.

Media contact: Thornton Kennedy, (404) 210-0363, thornton@prsouth.net

Coro Realty’s Trina Joseph Plans Business Meeting for 1,200 To Try To Change Lives

New President of Chapter of Commercial Real Estate Women Network Helps Host Annual Convention

Trina Joseph, a managing partner at Coro Realty, is president-elect of the Commercial Real Estate Women Network's Atlanta chapter. (Courtesy Trina Joseph)

By Andy Peters
CoStar News
November 15, 2022 | 8:46 A.M

Trina Joseph is putting together a commercial real estate business meeting — ideally with more than 1,200 people. If all goes well, she wants it to be a life-changing experience for those in attendance.

She's taking a turn next year as president of the Atlanta chapter of the Lawrence, Kansas-based group dedicated to the advancement of women in commercial real estate known as Commercial Real Estate Women, or CREW, and she has one big assignment on her plate: help host CREW's national convention in Atlanta next September with a focus on boosting careers.

Joseph, however, isn’t worried. "I’ll be working to raise funds and make sure we have speakers,” she told CoStar News. “I have a great team. I won’t be doing it alone."

She's come a long way from her first gig in commercial real estate: a part-time job as a tenant services coordinator for LaSalle Partners, which merged with Jones Lang Wooten in 1999 to create Jones Lang LaSalle, or JLL.

Joseph, who's now a managing partner at Coro Realty Advisors, didn't plan to enter real estate while a student at Loyola University in New Orleans, her hometown. She initially began her career as a fundraiser for Loyola. When she and her husband, Ronald, moved from New Orleans to Atlanta in 1992, she took an institutional advancement position with the Morehouse School of Medicine.

While at Morehouse, the babysitter for the Josephs' 2-year-old daughter quit. Ronald suggested Trina become a stay-at-home mom.

Providing Support

Ronald and Trina Joseph enjoy their favorite vacation spot, Cabo San Lucas, Mexico. (Courtesy Trina Joseph)

But she got stir-crazy at home, leading her to take the part-time position at LaSalle. She steadily moved up the ranks, moving to lease administration, then property management. Joseph later worked for GMH Associates, but she left when the Newtown Square, Pennsylvania-based firm went into student housing. That sector didn't interest Joseph.

Joseph started her own real estate company and worked for DLC Management Corp. before ultimately joining Coro in 2015. At Coro, she focuses on asset management, specializing in mixed-use and retail-center properties.

For most of her career, Joseph has been involved with CREW. She believes it's important for women in real estate to get advice and emotional support from other women for what can sometimes be intimidating situations.

"CREW helps women be able to stand their ground in a roomful of men," she said, a business skill that can create career opportunities. "Sometimes you’re the only woman in that room and you need to have had support from people who have had the same experience."

Joseph said she has personally experienced a lack of support at a previous employer, whom she declined to identify, who she said always replied no when Joseph repeatedly requested permission to let her join CREW, a volunteer organization.

Her male supervisor "would say, 'What benefit is there for us?' and that would be the end of it," she said.

CREW has found that women are underrepresented across the industry. According to the group's most recent study, conducted in 2020, women represent about 37% of the commercial real estate workforce. But the group found women earn 10% less than men in base compensation, 56% less in commissions and bonuses and hold only 9% of C-suite positions. The issue of gender isn't the only area of potential improvement for commercial real estate, Joseph said. She also wants to increase ethnic diversity within the ranks of CREW Atlanta, something she feels will have a positive effect on the industry as a whole. About 14% of the chapter's members are minorities.

Joseph said she knows the 2023 CREW Network Convention is going to take up a huge amount of time, with the expected crowd expected to attend at the Hyatt Regency in Atlanta. So when the show is over, don't be surprised if Joseph and her husband take a trip. They like to travel, and their favorite spot is Cabo San Lucas, Mexico. It's also where she plans to retire.

"It's my happy place," she said. "It's where we can detox."

---

Coro Realty Sells Metro Orlando Shopping Center for $23.5M

Posted on October 20, 2022 by John Nelson in Acquisitions, Florida, Retail, Southeast

Wekiva Square was 99.1 percent leased at the time of sale to tenants including HomeGoods, Dollar Tree, Fancy Fruit and San Jose Mexican Restaurant.

ALTAMONTE SPRINGS, FLA. — Atlanta-based Coro Realty Advisors has sold Wekiva Square, a 175,175-square-foot shopping center located at 945 Semoran Blvd. in Altamonte Springs, a suburb of Orlando. V3 Capital Group purchased the property for $23.5 million. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented Coro Realty in the transaction. Built in 1981 and most recently renovated this year, Wekiva Square was 99.1 percent leased at the time of sale to tenants including HomeGoods, Dollar Tree, Fancy Fruit and San Jose Mexican Restaurant. The center also includes a Kohl’s store that has a separately parceled ground lease.

Coro Realty Sells Two Industrial Buildings, Eyes Further Investment in I-985 Corridor with Proceeds

Atlanta (July 19, 2022) — Real estate investment and management company Coro Realty has sold 2500 and 2505 Main Street in Kennesaw, Ga., two separate industrial properties totaling more than 95,000 square feet and 11 acres across from Cobb County International Airport - McCollum Field.

2500 Main Street is an 81,000-square foot industrial building occupied by Beacon Sales Acquisitions Inc. (NASDAQ:  BECN).  It sits on 7.5 acres.  2505 Main Street is a 15,000-square-foot building on 3.5 acres leased by Performance Contracting Inc.  Alterra Property Group is the buyer for both.

“Coro Realty acquired these properties as a value-add industrial portfolio and sold them at a material profit,” said Robert Fransen, President and Managing Partner at Coro Realty.  “Demand in the industrial sector in and around metro Atlanta is outpacing product, which helped us net a solid return on a market-driven exit.” 

Coro Realty will use the proceeds for acquisitions and the development of 5659 Southfield Drive in Flowery Branch, Ga., which it acquired in the initial portfolio.  Coro Realty plans to add up to 150,000 square feet of new industrial space at the Flowery Branch site.  It offers convenient access to I-985 at HF Reed Industrial Parkway.

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 $1 billion.  For more information, visit cororealty.com

Media contact: Thornton Kennedy, (404) 210-0363, thornton@prsouth.net

Coro Realty, PGM Sell Muscle Shoals Commons for $13 Million

Atlanta, Georgia (June 28, 2022) — Coro Realty and PGM Properties have sold Muscle Shoals Commons, a 58,760 square-foot Publix-anchored retail center in North Alabama, for $13 MM.  The partners developed the property in 2016, marking the third joint venture between Coro Realty and PGM.

“Coro Realty is thrilled to have executed another successful retail project with PGM,” said Robert Fransen, Managing Partner. “Muscle Shoals Commons is in a centralized, established location with excellent accessibility.  With PGM, we were able to bring Publix, a highly sought after anchor, to the site.” 

In a testament to Muscle Shoals Commons’ appeal and success, Publix purchased the property.

Fred Victor or Transwestern’s Southeast Investment Services Group represented the seller in the transaction.

Muscle Shoals Commons, 501 W 6th St Muscle Shoals, Ala, is 90% leased, with retailers including Great Clips, Healthsource Chiropractic and Yogurt Mountain.  It is in the heart of Muscle Shoals, with visibility in the primary retail corridor.  Publix, the No. 1 grocer in Alabama, had 15 years remaining on its lease.

The sale continues Coro Realty’s strategy of diversifying its portfolio and redeploying capital to infill sites and densifying markets.

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 $1 billion. For more information, visit cororealty.com.

Media contact: Thornton Kennedy, (404) 210-0363, thornton@prsouth.net

The Mill Restoration Earns Urban Design Award

Atlanta (May 31, 2022) — The Atlanta Urban Design Commission honored the restoration of the historic Excelsior Mill on North Avenue — The Mill — with its 2022 Award for Excellence for Adaptive Use. 

“It is extremely gratifying to not only renovate and enhance a historical landmark, but to have your peers recognize your efforts,” stated Jay Clark, President of Southeast Capital Companies.

The Mill was acquired by Coro Realty and Southeast Capital Companies in 2016. Smith Dalia Architects led the more than 120-year-old building’s redesign, combining contemporary and historical elements.

“We are thrilled with the recognition from the Atlanta Urban Design Commission and congratulate Smith Dalia Architects,” said Robert Fransen, President, Coro Realty. “This was a major undertaking with several unique challenges. The result is a project that ties seamlessly into the neighborhood while honoring The Mill’s history.”

The adaptation of the 19th-century mill highlights its place in Atlanta’s Historic Old Fourth Ward neighborhood. Originally, small timbers and wood off-cuts were transported to the mill on the adjacent railroad line – now the Beltline – and converted to excelsior packing materials.

The renovation created 30,000 square feet of creative office space with a double-height lobby, refurbished interior and exterior walls, new windows, new mechanical and electrical systems, a floating “monumental” staircase, and state-of-the-art technology.

Re-opened windows bring daylight deep into the building interior, while new lighting showcases the rustic stone walls. Heavy timber posts, beams and trusses are exposed, and original manufacturing equipment has been left in place as a reminder of the building’s industrial past.

The Mill first appears on the 1901 fire protection map for the city of Atlanta, but it likely predates the map. The property is best known as the former music venue, The Masquerade.

About Southeast Capital Companies

Southeast Capital Companies, LLC is an integrated real estate acquisition and development group that specializes in value-add/opportunistic acquisitions and development of multi-family, single-family, and mixed-use land and housing projects. Southeast Capital has enjoyed great success over its 22-year history and provides a sophisticated network of results-oriented real estate services managed by an experienced and committed team of professionals. Headquartered in Atlanta, Georgia, SEC is active throughout the southeast. For more information visit seccompanies.com.

About Coro Realty Advisors

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 continue 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 Advisors oversees approximately 50 properties valued more than a billion dollars. For more information, visit cororealty.com.

Media contact, Thornton Kennedy, (404) 210-0363, thornton@prsouth.net

Coro Realty Sells Cross Country Plaza for $42.6 Million

Atlanta, Georgia (March 16, 2022) — Coro Realty announced today the sale of Cross Country Plaza, a 314,000-square-foot highly-visible retail center in Columbus, Georgia for $42.6 MM.

 An affiliate of Hackney Real Estate Partners was the buyer. Transwestern’s Southeast Investment Services Group represented the seller in the transaction.

Coro Realty, the Atlanta-based, diversified real estate company, purchased Cross Country Plaza in 2013. Located on Macon Road off I-185, it is anchored by Publix, and home to TJ Maxx, Burlington, 2nd & Charles among other lead retailers. The center was nearly 90% occupied at time of sale. Coro Realty retained some outparcels, including properties it and Storage XXStra converted from retail to self-storage.

“Coro Realty acquired Cross Country Plaza eight years ago, and implemented our strategy of making capital improvements to attract sought-after national brands,” said Adam Holland, Vice President, Coro Realty. “It is well-located and stabilized, with upside for the new ownership group.”

Cross Country Plaza is the 6th most visited shopping center in a 50-mile radius and is in the 95th percentile for busiest shopping center in the state of Georgia over the last year. The center is located adjacent to one of the most affluent neighborhoods in Columbus and close to several employment nodes and demand drivers, including Fort Benning. Fort Benning is the 3rd largest employer in Georgia with an economic impact of $4.75 billion per year.

The sale continues Coro Realty’s strategy to diversify its portfolio and redeploy its capital to infill sites and densifying markets.

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 $1 billion. For more information, visit cororealty.com.

Media contact: Thornton Kennedy (404) 210-0363 thornton@prsouth.net

Coro Realty, DG Real Estate Partners Sell Roswell Self-Storage to KKR

Joint venture delivered market-leading facility in late 2020

835-unit climate-controlled facility is located at 90 Oak Street, Roswell, GA

Atlanta, Georgia (February 14, 2022) — Coro Realty and DG Real Estate Partners have sold a Roswell, Georgia, self-storage facility the joint-venture partners delivered in late 2020 to funds managed by global investment firm KKR.

Luke Elliott and Michael Mele with Cushman & Wakefield represented the sellers.   

DG Real Estate purchased the site in 2017.  Coro Realty joined in 2019 to facilitate the construction.

 The 835-unit climate-controlled facility is located at 90 Oak Street. It was Coro Realty’s fourth and DG Real Estate’s third self-storage development. The partners matched the historic feel of downtown Roswell by designing the building to look like a converted brick warehouse.

“Coro Realty is proud of our partnership with DG Real Estate and our self-storage development on Oak Street,” said Robert Fransen, President and Managing Partner, Coro Realty. “It is a well-located, good-looking building with tremendous upside.  We congratulate KKR on the acquisition.”

The Roswell facility is a Class A purpose-built self-storage facility with 96,187 rentable square feet on 1.5 acres. It is near Roswell’s city center, across the street from the police department and a block from Roswell City Hall. The central location and the proximity to local law enforcement provide a sense of security to customers using the location.

The three-mile trade area has a population of 76,830 and a median income of $88,789. There are also thousands of homes within the immediate trade.

Coro Realty and DG Real Estate will redeploy the proceeds into other investments and development that will enable them to continue their opportunistic acquisition and development strategies.

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 $1 billion. For more information, visit cororealty.com.

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.

Media contact: Thornton Kennedy (404) 210-0363 thornton@prsouth.net

Connolly, Coro Buy Sandy Springs Gateway For Over $40M

Original story featured on Bisnow Atlanta - February 16, 2022

Google Maps

Sandy Springs Gateway, a 121K SF mixed-use shopping center recently acquired by Connolly and Coro Realty Advisors.

Two well-known Metro Atlanta retail investors have joined forces to buy a prominent Sandy Springs upscale shopping center.

Connolly and Coro Realty Advisors paid $40.5M for Sandy Springs Gateway, a 121K SF, Sprouts Farmers Market-anchored retail center at the corner of Roswell and West Wieuca roads. Core Property Capital closed on its sale of the property on Valentine's Day.

The new owners aim to position the project, which was developed by Core Property in 2015, as a gathering hub for the surrounding community and patrons of the popular outdoor music and performance venue Chastain Park a little over a mile away.

“Sandy Springs Gateway is a supremely located asset on the Roswell Road retail corridor at the junction of Atlanta’s most affluent communities,” Connolly CEO J.R. Connolly said in a press release. “This is not just another vehicle-oriented strip center. This asset has a pedestrian-friendly site plan with street-front retail and a strong merchandising mix that appeals to the surrounding neighborhoods.”

Sandy Springs Gateway is Connolly and Coro's third joint venture together, after the partnership developed the mixed-use Parkview on Peachtree in Chamblee and redeveloped and then sold the Arbor Square shopping center in Douglasville.

A longtime suburban neighborhood shopping center developer, Connolly pivoted toward retail acquisitions last year, acquiring Towne Lake Plaza, a 28K SF strip center in Downtown Woodstock in September.

Much like its plan for Gateway, Connolly said the partners are repositioning Towne Lake Plaza as a gathering hub for the Downtown Woodstock community. The city is undergoing a downtown revitalization that includes a roundabout and new sidewalks around the strip center.

Sandy Springs Gateway is 82% leased with tenants such as Big B's Fish Joint, Taka Sushi and Passion, Chipotle, Kale Me Crazy, Corks & Caps, CVS and Blast Fitness Studio. Eastdil Secured Director Conor Lalor and Managing Director Eric Zimmermann brokered the deal.

The property also has 28K SF of boutique office and is adjacent to two luxury apartment communities with a combined 630 units: The Collection and The Gateway Chastain.

“The property has huge potential to become the number one high-energy, 18-hour destination in the neighborhood,” Coro Realty President Robert Fransen said in a statement. “Our goal is to elevate the overall visitor experience no matter the duration of their stay. We are currently evaluating capital improvement plans that will enhance the consumer experience.”

Source: Jarred Schenke, Bisnow Atlanta

Coro Realty, Pope & Land Sell High-Profile Atlanta Retail Center

Atlanta, Georgia (Dec. 22, 2021) — Coro Realty announced today the sale of Brookwood Square, a 46,625-square-foot retail center on Peachtree Road in the affluent Buckhead area of Atlanta.   

 A venture led by Fairway Investments was the buyer.

 The Coro Realty and Pope & Land partnership purchased Brookwood Square 2014. It is home to Absolute Care and Cafe Sunflower. Coro Realty leased and managed the property. Pope & Land and Coro Realty jointly oversaw the property’s asset management.  The partnership previously sold 2 acres of its original purchase for what became Venue-Brookwood.

“Pope & Land and Coro Realty acquired a well-located center in one of the Southeast’s most attractive markets as a value-add investment,” said Robert Fransen, Managing Partner, Coro Realty. “Our teams were able to improve Brookwood Square, upgrade leases and deliver a very strong return over our seven-year hold.”

The center is located at the intersection of Peachtree Road and Colonial Homes Drive. An estimated 42,340 vehicles per day pass Brookwood Square, which is just two blocks from Piedmont Hospital.

Coro Realty’s sale decision was driven by its strategy to selectively sell assets, diversify and deploy capital opportunistically.

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 $1 billion. For more information, visit cororealty.com.

Media contact: Thornton Kennedy (404) 210-0363 thornton@prsouth.net