LEE & ASSOCIATES ARRANGES PARTNERSHIHP FORMATION FOR KENNESAW STATE
ATLANTA – May 31, 2011 - Lee & Associates, one of the largest commercial real estate firms in the country, closes on student housing site for Kennesaw State University in Kennesaw, Georgia.
A private sector, off-campus student housing site has just closed that is 1.2 miles north of Campus at Kennesaw State, the fastest growing campus unit of the University of Georgia System. Bruce A. Davis of Lee and Associates, Atlanta, arranged a Partnership Formation for “The Sanctuary at Kennesaw”, an 850 bed, 245 unit multifamily property which also has a 40,000 square foot Retail component. The mixed use project will be located just off the Wade Green exit off I-75, the north corridor entrance to campus that also leads to old downtown Kennesaw. “The City of Kennesaw has embraced the 25,000 Kennesaw State students as an important citizens, but it didn’t necessarily want ‘college bars’ to personify its family oriented, historic downtown area, so it established a designated “Entertainment District” along the Cherokee Street corridor. This project has significant frontage in the District, so its Retail component should open with a collection of vibrant tenants that will enjoy both local traffic as well as immediate patronage and life with a day-one population of 850 students”, says Davis. The City has directed restaurant/bar and other Retail inquiries to developer South City Partners, LLC, which expects both the Retail and the apartment components to be fully occupied and a tremendous success when it opens for the fall semester, 2013.
“We have been able to secure some incredible opportunities for the client’s we represent. As the market continues to experience a resurgence of activity and opportunity, we anticipate a wider range of solutions to become available to our clients and customers. We are fortunate to have experienced real estate leaders, such as Bruce on our team who diligently works for our client’s best interests.” said T. Richard Bryant, president of Lee & Associates’ Atlanta office.
Mr. Davis has been licensed in the State of Georgia since 1979 and specializes in the brokerage of income and investment properties, predevelopment of land for high density and mixed-use sites, and the placing of institutional and private equity funds.