News
THE DEAL SHEET
September 10, 2012
| Duke Realty continues to make inroads on Atlanta's industrial market with its latest buy. | ||
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| Duke purchased Hartman Business Center V, a 570k SF warehouse located off I-20 and Riverside Parkway in Austell. (Its welcoming "hello" sign is much better than that "you're ugly" sign we saw on an industrial building once.) Price was undisclosed, but the purchase comes a year after Czarnowski leased the entire distribution center for its operations. CBRE's Chris Riley, Frank Fallon, and Brian Budnick brokered the sale for Hartman V?s developer, the Opus Group. | ||
| LEASES | ||
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| Law firm Kutak Rock inked a 20k SF lease at SunTrust Plaza, moving from Peachtree Center where it's been office for the past 16 years. Studley?s Andy Lechter (above), Michael Broome, and Tom Kubis represented the tenant, while Portman Management Co's Travis Garland repped the landlord. | ||
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| Integra Realty Resources leased more than 6k SF at 1100 Peachtree Street. Cresa Atlanta's Kevin Creel helped the company relocate from 1718 Peachtree St. Cassidy Turley's Glenn Kolker brokered the deal for the landlord, Manulife Financial. | ||
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| The Paradies Shops leased 38k SF at Overlook I, the 138k SF building on Paces Ferry Road in Cumberland/Galleria. Jones Lang LaSalle's Adam Viente represented the landlord, KBS Realty Advisors, while Newmark Grubb Knight Frank's Doug Wise repped the tenant. | ||
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| Unisource Worldwide has leased 16k SF at Governors Lakes in Peachtree Corners. Transwestern's Julian Brown and Ed Easterlin brokered the tenant while Resources Real Estate Partners' Matt Davis repped the landlord. | ||
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| DataOceans inked a 7k SF lease at Peachtree Corners? Governors Lakes with WM Leonard Co's Bill Leonard and Resource Real Estate Partners' Matt Davis handling the negotiations. | ||
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| L2C has inked a 10k SF lease at Tower Place 200. CBRE's Bennett Gottlieb repped L2C and PM Realty Group's Dean Giordano and Zach Wooten repped the landlord CW Capital. | ||
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| Digital marketing firm Brandmovers has moved into a 10k SF HQ space at 1575 Northside Dr. Newmark Grubb Knight Frank's Eric Corona represented Brandmovers while Cushman & Wakefield's Andy Sumlin represented the landlord. | ||
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| RG Real Estate's Ryan Goldstein has inked a 12k SF deal for Johnson Servcie Group's HQ at 1000 Parkwood Circle. | ||
| DEVELOPMENT | ||
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| Carter has begun the second phase of Columbus Commons in Columbus, Ohio (we sketched it on this napkin). Renamed HighPoint at Columbus Commons, Carter and local equity partners Bob Weiler and Don Kelley are starting the $50M project that involves 301 residential units and 23k SF of retail space. HighPoint is the redevelopment of Columbus City Center mall. | ||
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| Novare Group and Batson-Cook Development Co are teaming up to do another SkyHouse, this time in Orlando. The JV, with funding from UBS Global Asset Management, plans to build a $63M, 320-unit high-rise apartment tower at Livingston Street and Magnolia Avenue. CBRE's Robert LaChappelle, Jonathan Rice, and Paul Berry advised on financing. Build-out is expected by middle of next year. | ||
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| North American Properties has begun construction on ParkCentral, a 200-unit apartment complex at Centennial Park in the West End district of Nashville. It's expected to open next summer. | ||
| SALES | ||
| Carter Validus Mission Critical REIT purchased Baylor Medical Center in Dallas, Texas for $31M. The 62k SF medical center is leased to Baylor Health Care System and United Surgical Partners International. | ||
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| Atlanta-based Pollack Shores Real Estate Group sold Velocity, a 220-unit apartment building in Nashville to Walton Street Capital for $37.5M. Pollack purchased the former condo building for $25.3M last year. It converted the unsold condo units to rental and sold it for $170k per unit, one of the highest per-unit prices in Nashville ever. | ||
| PEOPLE | ||
| Halpern Enterprises has tapped Mike Birnbrey to target new development with build-to-suit projects throughout the Southeast. Mike comes from InSite Real Estate in Chicago. | ||
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| Justin Milam has joined Lambert & Associates in business development, jumping over from Pub 71. | ||
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| Ryanne Pennington has joined Cushman & Wakefield as a broker, coming over from CresaPartners. Blake Fertitta has been hired by the firm as a junior appraiser for the multifamily valuation division. | ||
| EVENTS | ||
| NAIOP will host a panel Sept. 19 to discuss ?The Atlanta Brand? at the Ritz-Carlton Buckhead with Invest Atlanta's Kevin Johnson, Georgia Economic Development Authority's Greg Torre, and Metro Chamber of Commerce?s Sam Williams. | ||
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| Get ready to tee up for the 23rd Annual YCR Charity Golf Tourney, Sept. 27 at the North Fulton Golf Course at Chastain Park. | ||
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| The 5th Annual Commercial Real Estate Global Diversity Summit is set for Oct. 10-11 at The Westin Buckhead, with speakers from Wells Fargo Bank, McDonalds, PNC Bank, and former Miami Mayor Manuel Diaz. | ||
| ACCOLADES | ||
| 55 Allen Plaza has achieved LEED-EB Gold. The 350k SF tower is managed and leased by Lincoln Property Co Southeast. | ||
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| Skanska USA and Alston & Bird are donating salvageable building materials from the law firm's One Atlantic Center renovation to the Lifecycle Building Center, a nonprofit organization that provides used building materials to other nonprofits. Among the items being reclaimed include sinks, desks and chairs, shelving, windows, lights, signs, doors, and crown molding. The materials will benefit the Ronald McDonald House in Sandy Springs, Renew Atlanta, and Nicholas House. | ||
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| Georgia CCIM president Bill Butler, Bill Weitzenkorn, and Liza Littrell gave Emmaus House's Katie Bates a donation to help alleviate its stock at the Lokey Center Food Pantry when food supplies reached a ?critical level.? |
