News
TRANSWESTERN GAINS SHADOWOOD
October 4, 2010
| Transwestern has been tapped by CW Capital to lease Shadowood Office Park, a 200K SF office complex on Powers Ferry Road in the Cumberland/Galleria submarket, sources tell Bisnow. |
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| Transwestern's Jeff Taylor and Josh Baine will lease the property for CW Capital. The complex was foreclosed by CW from Richard Bowers in September, according to Databank. Richard told Bisnowthat he's ?not too proud of this.? Richard says he attempted to work out the loan with CW, but the servicer decided to take it back instead. A witches brew of little liquidity, falling property values, and poor government action has killed the market and his potential to renegotiate the loan, he says. ?There's no money out there. This is a crazy world. Our government has done a terrible, terrible job on the economy. This whole recession didn't have to be this bad, particularly for commercial real estate, which wasn't really overbuilt until demand was stopped through our flawed economy.? |
