News
THE DEAL SHEET
November 1, 2011
| Cousins Properites is adding to its metro Atlanta stock with another iconic office tower. | ||
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| Cousins has put Promenade II in Midtown under contract, sources tell us, for a price of about $135M, or $175/SF. Cousins officials did not return calls seeking comment. Boston-based Beacon Capital put up the 774k SF tower for sale earlier this year after it acquired Promenade II from the assets owned by Charter Hall and is spinning off the Midtown tower since it's not in its core market. Eastdil Secured is marketing the property for Beacon but was unavailable for comment. We'll keep you posted on this breaking story. | ||
| LEASES | ||
| Parkway Realty Services has renewed the FDIC for 103k SF at the Millennium in Midtown, a 411k SF Class-A tower at Ten 10th St. Parkway's SVP Bill Hollett and Mike Werner represented the landlord while Grubb & Ellis' David Kilborn brokered the deal for the regional FDIC office. | ||
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| Eye Consultants of Atlanta has leased 12,300 SF at 355 Tower Rd in Marietta for 10 years. McWhirter Realty Partners' Jeff Fortner andDan Buyers handled the transaction. The duo also helped sell 805 Campbell Hill St in Marietta, a 5,600 SF free-standing MOB to West End Medical Centers for $1.2M. | ||
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| Cardlytics just inked a 16k SF lease at The Stove Works loft offices in Inman Park. Vantage Realty Partners' Gene Rice (above) andChris Carter represented the tenant, and Stowers & Co's Mel Stowers did the deal for the landlord. Gene tells us that in turn, the company plans to hire 100 new employees in its growth mode. | ||
| SALES | ||
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| Virginia-based SugarOak has purchased Spalding Exchange Office Park, an eight-building, 55k SF Williamsburg-styled office complex in Norcross for an undisclosed sum. | ||
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| An investment group consisting of Clearview Hotel Capital and a fund managed by Oaktree Capital Management has purchased the 387-room Renaissance Concourse Atlanta Airport Hotel for an undisclosed sum. Cushman & Wakefield Sonnenblick Goldman's Global Hospitality Group's Tom McConnell and Ernest Lee brokered the deal for the sellers. | ||
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| Beech Street Capital provided nearly a $20M loan to refinance Legacy Mill Apartments in Athens. The loan is fixed at a 10-year term and a 30-year amortization schedule. | ||
| PEOPLE | ||
| Patterson Real Estate Advisory Group has brought on Madison Williams, Butch Ross, and Tom Jackson to the fold of its new firm, founded by Lance Patterson, Ken Grimes and Bill Mealor. | ||
| EVENTS | ||
| NAIOP's going mobile on Nov. 17. The organization will host abreakfast program concerning mobile apps for CRE and social media starting at 7:15am at a venue TBA. Also, NAIOP has announced its annual awards program for Dec. 1 at 7:15am at the InterContinental Hotel in Buckhead. | ||
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| This Thursday it's the famous Downtown Development Day at the Hyatt Regency Atlanta, the annual event cohosted by Central Atlanta Progress and CREW. Atlanta Mayor Kasim Reed has been tapped as a keynote speaker. | ||
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| Reminder that this Saturday Green Street Properties will be hosting its Riverview Landing Fall Festival to benefit the Upper Chattahoochee Riverkeeper starting at Noon at 6271 Riverview Rd in Mableton. Events include a cycling race, a barbeque cook-off, music and a corn maze. | ||
| ACCOLADES | ||
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| CBRE's Todd Schmitt, Kira O?Neal, and John Ferguson were on hand earlier this month for the firm's second annual Charity Golf Tournament at the Golf Club of Georgia. The tourney, that involved 190 players, raised money for the American Red Cross and Big Brothers Big Sisters of Metro Atlanta. | ||
| HALLOWEEN ROUNDUP | ||
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| ?Every man dies. Not every man really lives... for cold calls!? Or so proclaims Richard Bowers & Co's Ash Parker, seen here dressed asWilliam Wallace for Halloween. | ||
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| Here we have Teddy, Jones Lang LaSalle's Amanda Smith's ?pumpkin,? posing next to a carved pumpkin over the Halloween holiday. | ||
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| And finally, we see that Cushman & Wakefield's Gumby... errr, we mean, Ken Ashley with his daughters Meghan and Anna at theKittredge Magnet School costume party and dance. "I can report, Ken says, "that neither Ken Ashley nor Gumby can't dance." |
