News
THE DEAL SHEET
May 17, 2011
| Leases | |
| Attention brokers: two of Augme Technologies' Atlanta office leases are expiring soon. The company reported its 2,200 SF office at 1000 Cambridge Square in Alpharetta expires this October while its nearly 8,500 SF on the ninth floor of 5 Concourse Pkwy expires June 2012. | |
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| McKenna Long & Aldridge inked a 15-year, 163k SF renewal at SunTrust Plaza in downtown, news we first reported in January. Cushman & Wakefield's John Izard and Ian Henderson represented the law firm, while Portman's Brian Hogg handled negotiations for the landlord. | |
| Sales | |
Kimco Realty Corp has picked up Village Shoppes of Flowery Branch, a 93k SF Publix-anchored shopping center from JP Morgan Asset Management for $13.7M. HFF's Richard Reid and Jim Hamilton brokered the transaction. The shopping center, at 5900 Spout Springs Rd, is 92% leased. | |
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| Supertel Hospitality sold its Masters Inn, a 107-room motel in Tucker, for $2.5M ?with no gain or loss on the sale,? the company reported in SEC filings. It used the proceeds to pay down a loan with GE Capital and about $200k to pay off a revolving credit line with Great Western Bank. | |
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| The 300-unit Paramount at Buckhead condo project at 3445 Stratford Rd has sold out (never expect you'd hear that in today's world, huh?). The Marketing Directors' Lisa O'Connor, Michael Rosser and Michael McLeod sold the final 20 units by the end of April and prices ranged from $246k for one bedrooms and more than $600k for three-bedroom units. | |
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| Carter brokered the sale of 2651 Satellite Blvd, a 300k SF building in Duluth to a Chicago-based alternative asset management firm for $18.6M in an all-cash deal. Carter was appointed the receiver when the building was in the process of foreclosure as well, and helped to stabilize the asset. | |
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| CBRE's EVP Robert LaChapelle and SVP Bill Tyler have arranged a more than $41M financing package for The Highlands of West Village, a 424,200 SF mixed-use project at I-285 and Atlanta Road in Smyrna. The borrower was Branch Properties, with lending by Freddie Mac. Built in 2007, the project consists of nearly 300 apartment units and 63k SF of retail space. | |
| Accolades | |
The Center for Civil and Human Rights has raised $73M of its hoped-for $85M to begin construction oo its museum at Pemberton Place in downtown Atlanta, museum officials tell us. |
