This Week's Atlanta Deal Sheet: Longtime C&W Broker Andy Ghertner To Retire
The godfather of Atlanta office tenant representation is retiring after a nearly 50-year career in commercial real estate.
Cushman & Wakefield Vice Chairman Andy Ghertner announced his retirement Oct. 31, ending a career that has spanned decades — and millions of square feet leased for clients.
Originally an apartment developer, Ghertner moved into the brokerage world in 1972, joining Adair Realty, which later became Ackerman & Co. Soon after, Ghertner formed his own firm with partners, called Bugg, Coppedge, Ghertner & McWilliams, which was acquired by Cushman & Wakefield in 1977, creating one of the global firm’s most successful offices, according to a press release.
Cushman & Wakefield Managing Principal Tyler Courtney called Ghertner the “godfather of office tenant representation in Atlanta,” having helped the likes of such corporations as Alston & Bird, McKenna, General Electric, King & Spalding, Smith Gambrell & Russell, KPMG, UBS, AT&T and Pfizer find offices.
A graduate of the University of Georgia’s Terry College of Business, Ghertner also was a manager for the Georgia Bulldogs under esteemed coach Vince Dooley. He is also a lifetime Million-Dollar Club member of the Atlanta Commercial Board of Realtors.
PERSONNEL
Rangewater Real Estate promoted Alp Kirmizioglu to executive managing director of construction, a role where he will lead the firm’s in-house construction division and oversee project management, design and quality control.
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JLL has tapped Todd Brooks as managing director with JLL’s project and development services division and its brand activation for the design solutions group. The 15-year industry veteran will be tasked with leading the group that offers creative consulting on space design and will be based in Atlanta. Brooks' most recent position was at U.S. Bank, according to his LinkedIn profile.
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Berkadia has hired Scott Bray from CBRE as the firm’s managing director of investment sales in Atlanta. Bray will be working alongside Managing Directors Matt White and Judy MacManus and Senior Managing Directors Paul Vetter and Andrew Mays to source middle-market multifamily sales for the firm.
At CBRE, Bray served as vice president on the firm’s senior housing investment sales team. He has been involved in more than 230 sales during his career with an aggregate sales volume of $8B.
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Andy White has been named Thomas & Hutton’s civil/site development department manager, a promotion from project manager with the firm he has served for the past 14 years. Hutton handles the planning, design and management of land development infrastructure and civil engineering projects for the public and private sectors in the Southeast.
SALES
Famed singer Elton John sold his Atlanta-area condominium for more than $7.2M six weeks after listing it and for more than $2M above the initial asking price, The Wall Street Journal reported. Atlanta Fine Homes Sotheby’s International Realty Global Real Estate Advisor Chase Mizell represented John, while Betsy Akers with the same firm represented the unidentified buyer.
LEASES
GE Vernova has leased 77K SF through 2036 at 600 Galleria Parkway from landlord Piedmont Office Realty Trust. The deal means GE Vernova, the eventual spinoff company of GE's energy division, will move from its 256K SF home at 4200 Wildwood Parkway next year.
CBRE Vice Chairmen John Shlesinger and Glenn Dyke and Executive Vice President Lisa Harber represented GE Vernova, while JLL Executive Managing Directors Adam Viente and Jeff Bellamy represented Piedmont.
DEVELOPMENT
Alliance Residental Co. is planning to break ground on Prose Gainesville, a 300-unit apartment community at 900 Mountaintop Ave. in Gainesville, Georgia, some 54 miles north of Downtown Atlanta. The project is expected to open at the start of 2025 and is one of five Alliance apartment developments underway in the state this year.
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DataBank is planning to build a two-building, 1M SF data center on 95 acres in Lithia Springs, adding to its 200K SF facility underway nearby.
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DC Blox announced an acquisition this week, purchasing 55 acres in Douglasville where it plans to build a $1.2B, 750K SF, two-story data center with 180 megawatts of capacity. It is already committed to an unnamed customer.
