News
BUY FORREST! BUY!
September 22, 2011
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| We sat down yesterday with Weeks-Robinson Properties' Forrest Robinson at his Riverwood 100 office (editorial note: he's not actually part of the painting). Forrest says his company is ?keeping our eye on Atlanta,? but the market is nowhere near improved as it is in Dallas and even Baltimore where Weeks-Robinson has made recent purchases. ?It's not stable here yet. We'll buy here ultimately, but that may be later in the cycle,? Forrest says. A year ago, Weeks-Robinson got an injection of capital from Siguler Guff and Metropolitan Real Estate Equities Management and other limited partners toward raising $150M to buy properties. With leverage, it's a third of the way through its equity. | |
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| Here's King Mill, the JV Weeks-Robinson did with Cousins Properties a few years ago. The last vestiges of Weeks-Robinson's JV with Cousins is finally being sold. Currently fully occupied by engine maker Briggs & Straton, Forrest says his company has revved the 790k SF warehouse up for sale with CB Richard Ellis' Chris Riley. Cousins also is selling Lakeside Ranch distribution center in Dallas (leased to HD Supply) as well. ?It certainly is Cousins unwinding their industrial portfolio,? Forrest says. He also says it's a good time to be a seller. ?The institutional market is seeking good quality single-tenant leased properties.? |
