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October 23, 2023

'We’ve Got To Find Something Else': Office Developers Forced To Reckon With Their Futures

With Office Properties Facing Foreclosure, Where Do Valuations Stand In The Market Today? Our Panel Will Discuss On Nov. 16

The 12-story, glass-encased 14th + Spring building was prolific office developer Greenstone Properties' most ambitious project yet when it started construction in 2019.

But nearly a year after the speculative 324K SF project was delivered, the Midtown Atlanta building still sits vacant. With the sorry state of the office market, it might be the last office building Greenstone founder De Little ever builds, he told Bisnow in a recent interview.

'We’ve Got To Find Something Else': Office Developers Forced To Reckon With Their Futures

“Guys like us, who made our living on office, we’ve got to find something else," Little said. Little founded Greenstone in 2005 and led it as it developed 14M SF of office properties throughout the Southeast, including Newell Rubbermaid’s headquarters in Central Perimeter, Mansell Overlook in Alpharetta and the 29-story Pinnacle…

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Foreclosure Ahead For Site Once Slated For Georgia's Tallest Residential Tower

A New York developer's long-stalled quest to erect the Southeast’s tallest residential tower on a prime parcel in Midtown Atlanta appears to be coming to an ignominious end. 

Foreclosure Ahead For Site Once Slated For Georgia's Tallest Residential Tower

Miami-based Benmark Capital has filed to foreclose on the Midtown site where Olympia Heights Management had planned the tower, No2 Opus Place. Benmark plans to auction off the $40M loan Nov. 7 on the Fulton County Courthouse steps, according to a foreclosure notice…

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This Week's Atlanta Deal Sheet: New Residential Planned For Atlanta University Center

This Week's Atlanta Deal Sheet: New Residential Planned For Atlanta University Center  

A dean at Morehouse College and two commercial real estate leaders are set to develop new housing surrounding the largest nexus of historically Black colleges and universities in the U.S.

Morehouse Dean of Business and Economics John Williams is partnering with two leaders at Sanctuary Residential, founder Bernard Felder and Director Brian King, to form Urban Renaissance Development, which aims to build more than 200 build-to-rent townhouses, brownstones, flats and single-family houses in the historic Atlanta University Center district, according to a…

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