Rosemont Hunts for More ATL Deals
Rosemont Realty's newest East Coast acquisition head Nick Nigro tells us the firm is in the market for core-plus and value plays ranging from $20M to $200M across the Eastern Seaboard. Focus: Raleigh, Atlanta, Nashville and Miami. “Those are the markets where we're seeing sustained demand growth,” he says. So far, Rosemont has nothing under contract in Atlanta, although Nick says he is particularly attracted to Central Perimeter and Buckhead.
Rosemont entered the Atlanta office fray in 2011, when it purchased 6455 E Johns Crossing in Johns Creek and three assets in Peachtree Corners: 6625 The Corners Pkwy, 5707 Peachtree Pkwy and 3585 Engineering Dr. In all, it commands some 400k SF here, says Rosemont SVP Tina McCall. “Both of those markets have been much slower to recover than Atlanta proper,” she says, especially Peachtree Corners, which has seen its share of corporate defections to other submarkets. But Tina says she's seen a change: In the past six months, there's been more activity, and companies are making longer-term commitments. “I wouldn't say that Peachtree Corners has completely recovered. But you are going to see a lot of tenants move back into the Peachtree Corners market because it is accessible.”
