Batson-Cook Development Company, BCDC, and ADEVCO (ADEVCO Corporation) have entered into a joint venture partnership that will deliver a three-story climate-controlled Extra Space Storage with 804 secure storage units in Dunwoody.
The JV has closed on the land and recently broke ground on the 112,000 square-foot, three-story climate-controlled building located at 4444 N. Shallowford Road. The new Extra Space Storage will be delivered to meet the growing demand for self-storage in the Dunwoody, Brookhaven, Sandy Springs and Perimeter Center submarkets.
The submarket has experienced explosive population growth as a result of commercial relocations. There are ongoing and planned multifamily developments nearby, which projects an ongoing demand for professionally managed institutional quality self-storage.
Georgia’s Own Credit Union is providing construction financing, and BCDC and ADEVCO are providing equity. Extra Space Storage, the second largest operator of self storage facilities in the US, will be providing leasing and property management.
JLL announced that Tropical Smoothie Cafe, LLC will expand its national headquarters into 25,330 square feet of space at 1117 Perimeter Center West in Dunwoody.
Tropical Smoothie Cafe is a leading national fast-casual cafe concept known for its better-for-you smoothies and food with a tropical twist. With more than 720 locations across the U.S., Tropical Smoothie Cafe has experienced rapid growth in recent years, creating the need for a larger support center to service its growing franchisee base. At nearly double the size of its previous space, the deal establishes 1117 Perimeter Center West as Tropical Smoothie Cafe’s headquarters and national Support Center for the next 10 years. Tropical Smoothie Cafe has been a tenant of 1117 Perimeter Center West since 2013 and through this expansion, has become the building’s largest occupier.
With Tropical Smoothie Cafe’s office expansion, 1117 Perimeter Center West is 89 percent occupied. The 391,422-square-foot building recently underwent a series of renovations including a remodeled fitness center, upgraded conference facilities and updated exterior amenity space, common hallways and elevator cabs. Additionally, the walkable campus features a large, open-air courtyard. Conveniently located in the heart of Atlanta’s Central Perimeter, 1117 Perimeter Center West offers tenants direct access to the city’s major thoroughfares, such as GA-400 and I-285, and is within walking distance to the Dunwoody MARTA station. The property is also located within two-minutes of countless retail, dining and hospitality amenities, including Perimeter Mall.