News
THE DEAL SHEET
August 2, 2012
| IBM is wiring itself into the ISS building in Dunwoody. | ||
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| We just learned IBM has inked a deal for 238k SF at Mount Vernon Place, or better known by us, the Internet Security Systems HQ. Since IBM purchased ISS earlier this decade, it's essentially a renewal. This comes on the heels of IBM?s short-term renewal at 4111 Northside Pkwy, the facility it sold to Jamestown Properties last year. CBRE's John Shlesinger, Sam Holmes, and Glenn Dyke repped Big Blue in one of the largest office transactions of 2012. | ||
| LEASES | ||
| Implantable Provider Group inked a 25,700 SF, seven-year deal at 400 Northwinds Center off Haynes Bridge Road in Alpharetta, moving from Two Northwinds in the same park. Lincoln Property Co Southeast?s Hunter Henritze and Michael Howell repped the deal for the landlord, Equity Office, while Jones Lang LaSalle's Dom Wyant brokered for the tenant. | ||
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| Americold renewed and expanded to 76k SF at 10 Glenlake in Sandy Springs. ICON Commercial Interests? Ryan Bowie repped the tenant while Highwoods Properties' Mike Wells brokered for the landlord. | ||
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| Benchmark Technology Group leased nearly 49k SF of flex space at 1665 Blue Grass Lakes Pkwy in Alpharetta. Cresa?s David Rubenstein and Bogue Miller repped the tenant in the early renewal. Highwoods Properties' John Grimsley repped the landlord. | ||
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| Dispersive Solutions inked an 11k SF lease at Lakeview 400 off Westside Parkway in Alpharetta. Cresa?s Kathy Burke repped the tenant while Lincoln Property Co Southeast?s Hunter Henritze and Michael Howell represented the landlord, OA Development. | ||
| SALES | ||
| Franklin Street Properties purchased One Ravinia Drive, the pagoda-styled 386,600 SF office tower for $52.7M. The tower, part of the landmark Ravinia complex developed by Hines Interests back in the 1980s, was being marketed by Eastdil Secured. | ||
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| Atlanta Property Group purchased 1190 West Druid Hills Dr, an 80k SF office building inside the Druid Chase Office park, for an undisclosed sum from Duke Realty. Lavista Associates? Austin Chase and Kirven Brantley will lease the building for APG. | ||
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| Highwoods Properties sold two of its government-used properties in Atlanta to an undisclosed buyer, including the 352k SF National Archives and Record Administration facility in Morrow and the Department of Homeland Security office, a nearly 100k SF build-to-suit in Downtown Atlanta. Those, plus a 109k SF GSA field office in Mississippi, sold for $86.5M, a gain of $14M for Highwoods, according to company info. | ||
| FINANCING | ||
| Cushman & Wakefield's Mike Ryan, Brian Linnihan, Jeff Walker, and Larry Johnson helped arrange $30M in financing through PCCP LLC to the JV involving Banyan Street Capital for 5660 New Northside Dr, the 272,650 SF tower home to the HQ of DS Waters, makers of Crystal Springs. The new loan is a three-year floating rate, interest only. ?The ownership plans to evaluate several opportunities to extend and renew some leases as well as work with several tenants who have expressed a desire to potentially expand their space,? says PCCP VP Barrie Bloom. | ||
| MANAGEMENT/LEASING | ||
| TPA Realty Services was awarded the leasing and management of Emory Johns Creek Physicians Plaza, a 111,400 SF MOB adjacent to Emory Johns Creek Hospital in TPA's Technology Park at Johns Creek. | ||
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| Denholtz Associates awarded Transwestern the leasing assignment for its 443,500 SF Atlanta portfolio, which includes such properties as 1776 Peachtree St (above), 3135 and 3145 Avalon Ridge Place in Peachtree Corners, and 11455 Lakefield Dr in Johns Creek. Transwestern's Kari Downing, Matt Spickard, and Greg Frankum will handle leasing. | ||
| PEOPLE | ||
| David Wagner joined HFF as the firm's Atlanta office director, jumping over from Cortland Partners. The Purdue U grad focuses on multifamily throughout the Southeast. | ||
| EVENTS | ||
| Learn how to Create, Embrace & Thirive in the New Economy during CoreNet Global?s 2012 Atlanta Chapter Education Forum starting 7:30am, Aug. 23 at the JW Marriott in Buckhead. The Home Depot?s CFO Carol Tome has been tapped as keynote. Click herefor info. | ||
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| Hartman Simons is gearing up for the seventh annual Spin For Kids benefit for Camp Twin Lakes by hosting its Crank It Up beer and bicycle event starting 7pm, Aug. 7 at the SweetWater Brewery. The event is the place to be if you want to sign up your corporate cycling team for the bike race Oct. 20-21. Email Cresa Atlanta'sPaula Fowler for more info. | ||
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| NAIOP is hosting its broker cocktail party starting 5pm, Aug. 16 at the Market Street Caf in the Prominence Building in Buckhead. NAIOP will honor Atlanta's top producers during the event. |
