News
THE DEAL SHEET
July 26, 2011
| A real estate firm best known for managing many of Atlanta's more prominent office buildings has got a huge new assignment. Oh, did we mention it's an industrial portfolio? | |
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| PM Realty Group has snagged the assignment to manage the Riverside Industrial portfolio, a 951k-SF industrial complex in the I-20 West/Fulton Industrial submarket (seen here). It's a very prominent gain for PM Realty, which also manages and/or leases more than 300k SF in industrial complexes: Cobb International in Kennesaw and Holcomb Woods. The most recent deal with Riverside's landlord Metzler Realty Advisors brings PM Realty's industrial management portfolio to 14M SF across the country. This isn't the first assignment with Metzler for PMRG. The firm's Atlanta office also manages the 462k SF One Buckhead Plaza office tower. | |
| LEASES | |
| L2C has inked a 7k SF deal to relocate its HQ to Tower Place 200 from 550 Pharr Rd in Buckhead. CB Richard Ellis' Bennett Gottlieb brokered the deal. | |
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| Fieldwork Atlanta leased 8,400 SF at 200 Galleria in Cumberland, brokered by CBRE's Bennett Gottlieb and Kevin Carroll. | |
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| Lee & Associates Thomas Bryant and Dick Bryant (seen here) represented GS&T Enterprises, the landlord for 500 Satellite Blvd, in its 37k SF lease with Hi-Tech Pharmaceuticals. The facility is the former home to Stiefel Labs and the more than $1M lease was achieved within four months of gaining the landlord assignment. | |
| SALES | |
| According to various reports, Rooker sold a 1.3M SF industrial portfolio to Welsh Property Trust for nearly $65M, including 1370 Discovery Industrial Court and 6751 Discovery Blvd, both in Mableton; Hartman III and IV in Austell; and 1685 Boggs Rd in Duluth. | |
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| NC-based Grubb Properties has closed its $108M Grubb Southeast Residential Fund II to acquire value-add multifamily communities throughout the Southeast, including its recent purchase of Sterling Oaks in Atlanta. | |
| DEVELOPMENT | |
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| Carter's Jonathon Barge and Todd Bradford are heading up a development program to build Kimberly-Clark a materials management building on its Roswell campus, which will be delivered next year. | |
| MOVERS N' SHAKERS | |
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| Billy Snowden has joined Lee & Associates as a tenant and landlord rep. Prior to Lee & Associates, Billy worked with Weaver & Woodbery Real Estate. | |
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| Josh Baine has joined Ackerman & Co to help lease medical and office space, including the firm's mixed-use crown jewel, Perimeter Town Center. Prior to Ackerman, Josh worked with Transwestern Commercial Services. | |
| EVENTS | |
| CoreNet Global will be teaching its members ?Leading Thorugh Turbulent Times? at its Ed Forum on Aug. 25 at the JW Marriott in Buckhead. Dr. Jeff Salz, cultural anthropologist and Reality TV star from Discovery TV's Ketch My Drift, will be the keynote speaker.More info. | |
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| NAIOP has its next cocktail party already scheduled for 5pm Aug. 18 at Lenox Square Grill. | |
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| The newly crowned Ponce City Market will be home to this year's Party at Ponce event sponsored by Jamestown and Green Street Properties. The event, scheduled for Oct. 1 and being held at the former City Hall East just acquired by Jamestown, will host musical acts such as the Indigo Girls and Shawn Mullins. | |
| ACCOLADES | |
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| IDI's Tradeport East Business Center, a 3.5M SF industrial complex outside of Savannah that's home to Target, Tire Rack, and Firth Rixon, has been granted Opportunity Zone status by the Georgia Department of Community Affairs. The classification gives IDI further tax incentives for potential tenants, including a $3,500 per new job tax credit good for five years. | |
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| Ackerman & Co's Kyle Gable has been named as one of the National Association of Realtors' ?30 Under 30? for his work at selling more than $32M in land in 2010. | |
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| The Atlanta office of The Beck Group has won three Construction Management Association of America awards during its 2011 South Atlantic Chapter Awards Banquet earlier this month. Projects contributing to the honor include the construction of the John C Godbold Federal Building, GA Tech's Hinman Research Building renovations, and the interior renovations for the |
