News
DEWBERRY ADDING TO MIDTOWN
June 15, 2011
| A prime 17th Street corner could become part of a growing Dewberry Capital empire. | |||
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| Sources tell us that Dewberry Capital has the corner of 17th and 1400 Peachtree St under contract with United Community Bank for $6M. If that piece looks familiar (even if we're no Ansel Adams), that's because it's the same 1.7-acre site that Jamestown Properties and Shailendra Group owned and had plans to develop into a mixed-use project with up to 600k SF of office, 50k SF of retail, a luxury hotel, and a condo building. Officials with Dewberry did not return calls seeking comment, but United Community chief risk officer David Shearrow did confirm the bank has the land under contract to an unidentified seller with a closing in the next 60 days. Jamestown and Shailendra purchased the site in 2006 for $17.1M, with a $12M loan from United Community, according to Databank. David declined to say how much the potential buyer will pay for the site. | |||
