Portman Buys Land For Second Phase Of Junction Krog District
Before the finishing touches are put on Junction Krog District, Portman Holdings is prepping for a second phase of the project.
Portman Holdings has purchased a 1.3-acre parcel near Irwin and Sampson streets just off the Atlanta BeltLine Eastside trail, The Atlanta Journal-Constitution reports. Portman is planning to develop a $120M, 220K SF office building with 15K SF of ground-floor retail that would mimic the look of its Junction Krog District across from Krog Street Market in the Old Fourth Ward neighborhood.
Local investor John Morrison sold the three parcels from Irwin to McGruger streets, currently leased to tenants like Atlanta Bicycle Barn, Yay Beignet and Bistro, and Jake’s Ice Cream for an undisclosed sum.
“I knew it would make the area special if they did a project there. I paid more attention to [Portman] than a lot of the other developers that were looking at the property,” Morrison told the AJC. "And believe me, they all looked at the property."
Portman is expected to deliver the first mixed-use building this summer after topping out in December on the $85M, 130K SF project that includes a public outdoor lobby lined with 7K SF of retail.
The second phase of Junction Krog District is the latest new project being spearheaded by Portman along the BeltLine, including the planned redevelopment of Amsterdam Walk near Piedmont Park and the Ponce & Ponce project, a planned collection of 354 residential units and 38K SF of retail next to Ponce City Market.
