News
THE DEAL SHEET
November 29, 2012
| First Industrial is getting by with a little help from Prius, Camry, Corolla, and 4Runners. | ||
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| The industrial landlord secured a short-term deal with Toyota?s TD Automotive Compressor Georgia—Toyota?s air compressor manufacturing arm that is building a new plant in Jackson County. Lee & Associates ? Craig Viergever says the company inked a 101k SF deal at 596 Bonnie Valentine Way while Toyota finishes out the plant nearby. For First Industrial, it counts among more than 600k SF in industrial deals so far this year, including the Porex Corp deal we reported here and a 252k SF renewal at 3060 South Park Blvd. ?We do have a couple of leases out there we're attempting to complete prior to year's end that will give us a little boost,? says First Industrial?s Corey Richardson. Still mom and pop companies will struggle to find credit to grow, meaning Atlanta's industrial leasing activity will continue to be dominated by big credit-worthy companies for the foreseeable future, Corey notes. | ||
| LEASES | ||
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| Private Bank inked a new branch deal at 150 East Ponce de Leon Ave in the One Decatur Town Center development. | ||
| SALES | ||
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| Cortland Partners went South and West for its latest acquisitions. The company purchased a $154M portfolio of apartments with more than 1,400 units in Dallas, Houston, and Jacksonville, its first move into the Florida market. The buys include Newport on the Lake and Harborview in Houston, Watervue in Dallas and Mirador and Stovall in Jacksonville. | ||
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| IRA Capital purchased a string of Lowe?s Home Improvement stores throughout the Southeast for $35M. HFF?s Kevin MacKenzie, John Chun and Bill Ireland secured the 4.3% fixed-rate loans with Cantor Commercial Real Estate for the acquisition of more than 520k SF in retail space. | ||
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| An affiliate of Janus Realty Advisors picked up Parker Court Business Center, a 243k SF industrial complex in Stone Mountain for $7.3M. Lincoln Property Co's Denton Shamburger brokered the deal from receivership. The park is little more than 50% leased. | ||
| DEVELOPMENTS | ||
| Ambling purchased 70 John Wesley Dobbs Ave in Downtown Atlanta for $7.9M with plans to redevelop the 1.5-acre site into a student housing project serving Georgia State University, including converting the old Ramada Hotel into a 291-bed community and building another 424-bed tower. Bull Realty's John DeYonker brokered. | ||
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| Gentlemen, start your engines! Here?s a rendering of One Porsche Drive, the planned Porsche Cars North America HQ at Aerotropolis Atlanta. Developers broke ground on the project this week, which will house more than 400 employees, including 100 new jobs to the metro area. | ||
| MANAGEMENT | ||
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| Jones Lang LaSalle's Kay Younglove and Glenn Aspinwall have been tapped to lease The Pavilion, a 128k SF office building at 5780 Powers Ferry Rd for ING North America Insurance Corp. | ||
| EVENTS | ||
| The Third Annual Atlanta Winter Beer Fest is set for the Masquerade Jan. 26 from 2-7pm where more than 100 beers, ciders and wines will be poured. Tickets are $35 and obtainable here. | ||
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| CREW Atlanta is hosting Baker Donelson?s Linda Klein to discuss ?Leading With Hearts and Smarts,? and the lessons Linda has learned as a leader 11:30am on Dec. 6 at the Blackburn Conference Center. Linda was the first woman to serve as president of the State Bar of Georgia and has been named among the 100 most influential Georgians. |
